The global farm animal health market is projected to grow at a significant CAGR during the forecast period. The is segmented on the basis of products and animal types. Based on the product, the market is segmented into vaccines, parasiticides, anti-infectives, and others. The vaccination segment is projected to hold a significant market share during the forecast period. Vaccination has a significant role in protecting animal and public health by preventing them from infectious diseases, such as rabies, distemper, flu, and hepatitis, among others. The increased probability of zoonotic diseases enhances the segmental growth of the global farm animal health market.
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As per the Centers for Disease Control and Prevention (CDC), zoonotic diseases are common in the US and Europe. It is estimated that over 6 out of 10 infectious diseases in humans are spread from animals in the US. Moreover, over 3 out of every 4 unknown or new infectious diseases in humans are spread from animals. CDC and other healthcare organizations are focused on preventing such a large spread of zoonotic diseases. This increases the demand for health products for farm animal, which in turn, fuels the segmental growth of the farm animal market during the forecast period.
Further, there are several government guidelines that are mandated to be followed in order to protect the farm animals across the globe. For instance, in UK, the government has released the guidelines under the Responsible use of Medicine in Agriculture Alliance (RUMA) regarding the animal vaccines for farm animal production. Whereas, in the US, the veterinary biologics are planned by the USDA Center for Veterinary Biologics, part of the USDA Animal and Plant Health Inspection Service.
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Further, the presence of the key players also supports the segmental growth of the market over the forecast period. Players such as Bayer AG, Boehringer Ingelheim International GmbH, Ceva Animal Health Inc, Elanco, Merck & Co. Inc., Virbac, and Zoetis Inc. are some of the key players contributing to the growth of the market.
Global Farm Animal Health Market – Segmentation
By Product
- Vaccines
- Parasiticides
- Anti-Infectives
- Others
By Animal Type
- Cattle
- Swine
- Poultry
- Sheep
- Others
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