DUBLIN–(BUSINESS WIRE)–The “Farm Animal Healthcare Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Farm Animal Healthcare Market is poised to grow at a CAGR of 8.2% in the forecast period (2021-2026).
- Boehringer Ingelheim International GmbH
- Ceva Animal Health Inc
- IDEXX Laboratories
- Merck & Co. Inc.
- Phibro Animal Health
- Zoetis Inc.
Key Market Trends
Parasiticides Represents High Growth Opportunities for Farm Animal Healthcare, Over the Forecast Period
Parasiticides are in high demand, for treating many diseases in farm animals. With the growth of the animal husbandry industry, an excess increase in demand in veterinary pharmaceuticals is expected. Animals are more likely to get infected by internal parasites, which are commonly inclusive of hairworms, lungworms, liver flukes, and coccidia. The external parasites that can be harmful to the animals include, horn flies, lice, and grubs. The parasitic diseases in animals cause disturbed health condition and reproduction, impaired growth, and decreased productivity.
Therefore, parasiticides are inevitable for the better animal health. The commonly used parasiticides are levamisole, fenbendazole, oxfendazole, albendazole, moxidectin, eprinomectin, etc. Most of the key players are focusing on innovation in parasiticide products, in order to develop advanced oral dosage forms of parasiticides. For example, in November 2019, Ceva had launched Salmoporc, a salmonella vaccine for pigs, in the United Kingdom and Ireland. Salmoporc gives protection against Salmonella Typhimurium and its monophasic variants. It is administered orally to piglets and through subcutaneous injection in sows.. This has increased the market growth opportunity for the company in different countries.
North America Dominates the Farm Animal Healthcare Market
North America region is among the major contributor to agriculture, livestock, technological advancements and implementation of farm animal healthcare benefits across the region. The United States is one of the most developed economies across the world. It currently holds the major share of the farm animal healthcare market, and it is expected to follow the same trend over the forecast period. The federal regulation of the United States and the state regulations are responsible for the registration and introduction of the new animal healthcare products in the country.
The registration, introduction, or import of such products in the country is strictly done under the surveillance of these regulatory authorities. There are different tests and certifications that are supposed to be cleared. Veterinary vaccines in the United States are regulated by the Center for Veterinary Biologics (CVB) in the Animal and Plant Health Inspection Service (APHIS). The CVB grants establishment and product licenses to animal health companies to manufacture and sell veterinary biologics.
In the United States, advancements in vaccines development include the development of live vector vaccines, nucleic acid-mediated vaccines, live-gene-deleted vaccines, and other vaccines. Boehringer Ingelheim, in 2018, launched a poultry vaccine product, HatchPak IB H120TM NeO, a freeze-dried live attenuated virus of Bronchitis disease, to simplify the vaccination of chicks against the bronchitis virus. In addition to, in June 2020, Huvepharma EOOD, received an US FDA approval for it’s product “Vetmulin12.5%”, an antibiotic used for the treatment of swine dysentery. Hence, these will drive the growth of regional market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Advanced Technology Leading to Innovations in Animal Healthcare
4.3.2 Increasing Initiatives by the Governments and Animal Welfare Associations in Different Countries
4.3.3 Increasing Productivity at the Risk of Emerging Zoonosis
4.4 Market Restraints
4.4.1 Use of Counterfeit Medicines
4.4.2 Increasing Costs of Animal Testing and Veterinary Services
4.5 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.1.4 Medical Feed Additives
5.1.5 Other Products
5.2 By Animal Type
5.2.5 Other Farm Animals
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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