The global farm animal drug market is on a steady upward trajectory, with its value expected to reach USD 19,442.9 million by the end of 2024. According to recent projections, the market will experience moderate yet consistent growth over the next decade, expanding at a Compound Annual Growth Rate (CAGR) of 5.5% from 2024 to 2034, down from a higher growth rate of 6.5% observed until 2023. By 2034, the market is anticipated to reach a valuation of USD 33,211.3 million.
A significant factor driving this growth is the increased automation in animal husbandry, particularly in technologically advanced regions. Automation in animal husbandry is becoming a global trend, with countries like Australia leading the charge. This technological advancement has led to a surge in demand for farm animal drugs and vaccines, as automated systems require enhanced health management solutions to ensure the well-being of livestock.
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Government initiatives toward improving animal health and welfare are also contributing to the farm animal drug industry. Governments across the world are becoming more aware of the importance of animal health and welfare. They are implementing various initiatives to improve the health and welfare of farm animals. This has led to the growth of the farm animal drug market.
The prevalence of various diseases in farm animals is also driving the demand for drug in the market. Diseases such as foot-and-mouth disease, avian influenza, and swine flu are common in farm animals. These diseases can cause severe economic losses to farmers. Therefore, farmers are increasingly using drugs and vaccines to prevent and treat these diseases.
Rise in demand for animal-based food products is another factor contributing to the farm animal drug market’s growth. As the population grows, the demand for food products such as meat, milk, and eggs is also increasing. To meet this demand, farmers are using various drugs and vaccines to increase the productivity of farm animals. This has led to the growth of the farm animal drug market.
“The farm animal drug industry is expected to benefit from advancements in technology such as precision medicine, gene editing, and data analytics. Precision medicine allows for targeted treatment of individual animals, reducing the need for broad-spectrum antibiotics and improving animal health outcomes. Gene editing technologies can help develop disease-resistant animals, dropping the necessity for prophylactic treatment. Manufacturers thus have lucrative opportunities to enhance their product lines and maximize market potential in the coming years.” – Says an analyst at FMI.
Key Takeaways from the Farm Animal Drug Market:
- The farm animal drug market is expected to register a CAGR of 5.5%, reaching a valuation of US$ 33,211.3 million by 2034.
- The anti-infective segment is anticipated to dominate the market, holding a market share of 37.7% in 2024.
- The market in the United States is estimated to surge at a CAGR of 5.7% through 2034.
- The market in Germany is estimated to rise at a CAGR of 4.6% during the forecast period.
- The market in the United Kingdom is predicted to develop at a CAGR of 5.3% between 2024 and 2034.
Competitive Landscape:
The farm animal drug market is dynamic and diverse, with established players competing for maximum market share by introducing advanced product lines. Manufacturers have gained consumer trust in recent years by conducting surveys and campaigns in villages to understand farmers’ concerns regarding animal drugs.
Recent Development:
In 2024, the major breakthrough was achieved by the Indian Council of Agricultural Research (ICAR) in the fight against the Lumpy Skin Disease (LSD) virus, which has caused significant damage to the country’s livestock. The council plans to launch a commercially viable vaccine, which has been indigenously developed to tackle the deadly virus. The livestock industry is set to benefit significantly from this vaccine, as it is expected to reduce animal mortality rates and bring down the incidence of LSD infection.
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Leading Farm Animal Drug Brands:
- Bayer AG
- Boehringer Ingelheim GmbH
- Zoetis, Inc.
- Ceva Santé Animale
- Dechra Pharmaceuticals PLC
- Elanco Animal Health (Sub. Eli Lilly)
- Merck Animal Health
- Virbac SA
- Vetoquinol SA
- Intas Animal Health
- Alembic Animal Health
- Sequent Scientific
- Hester Biosciences
- Ashish Life Sciences
- Ouro Fino Saude Animal (Ourofino)
- Zydus Animal Health (Sub. Cadila Healthcare Ltd)
- Phibro Animal Health Corporation
- Nippon Zenyaku Kogyo Co., Ltd
- Norbrook
- Kyoritsu Seiyaku Corporation
Key Segments of Market Report
By Product:
Depending on the product type, the sector is categorized into anti-infective, parasiticides, anti-inflammatory, anesthetics, analgesics, hormones, and related products. Moreover, parasiticides are further divided into endo-parasiticides, ecto-parasiticides, and endectocides.
By Animal Type:
The animal type segment is bifurcated into livestock animals and equine. Livestock animals include ruminants, swine, and poultry.
By Route of Administration:
Route of administration of farm animal drugs include oral, parenteral, topical, and others.
By Distribution Channel:
Farm animal drugs are distributed through veterinary hospitals, veterinary clinics, pharmacies drug stores, and other channels.
By Region:
Regional analysis of the industry is conducted in North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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