The global farm animal drug market is set on a robust growth trajectory, with its value expected to reach USD 19,442.9 million by the end of 2024. According to recent projections, the market will continue its steady expansion at a Compound Annual Growth Rate (CAGR) of 5.5% from 2024 to 2034, culminating in a market valuation of USD 33,211.3 million by 2034.
Several key factors are driving this growth, most notably the increased automation in animal husbandry, especially in technologically advanced regions like Australia. Automation in animal husbandry has spurred a significant demand for farm animal drugs and vaccines, as automated systems require advanced health management solutions to ensure the well-being of livestock. This trend is contributing to the substantial expansion of the farm animal drug market.
Government initiatives aimed at improving animal health and welfare are also playing a crucial role in the growth of this industry. As governments worldwide recognize the critical importance of animal health and welfare, they are implementing various initiatives to promote the well-being of farm animals. These initiatives have created a favorable environment for the continued growth of the farm animal drug market.
The prevalence of diseases in farm animals is another significant driver of demand for farm animal drugs. Diseases such as foot-and-mouth disease, avian influenza, and swine flu pose severe economic threats to farmers, leading to an increased reliance on drugs and vaccines for prevention and treatment. Consequently, the farm animal drug market is expanding as farmers seek to protect their livestock and mitigate potential losses.
Additionally, the rising demand for animal-based food products, including meat, milk, and eggs, is further fueling the growth of the farm animal drug market. As global populations continue to grow, so does the demand for these food products, prompting farmers to use various drugs and vaccines to enhance the productivity and health of their farm animals. This trend is expected to persist, driving the market’s continued expansion.
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.
Discover the Rising Demand for Farm Animal Drug: Dive into Our Full Report for Detailed Trends and Insights!
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.
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube