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Press Release

Bovine Respiratory Disease Treatment Market to Reach US$1,543.9 Mn by 2024: Valuation to Nearly Double by 2024, Predicts TMR

Transparency Market Research
Posted on: 24 Oct 16

ALBANY, New York, October 21, 2016 /PRNewswire/ --

The global market for bovine respiratory disease treatment features a highly consolidated competitive landscape despite the presence of a large number of regional players, observes a recent report by Transparency Market Research. Owing to the small duration of product exclusivity in the animal health care industry - about three to five years - competition from generics and over-the-counter (OTC) products is a big threat.

The rising consumption of bovine products in emerging economies such as India, China, and Brazil, the demand for effective treatment methods for respiratory disease has considerably increased. To exploit the vast growth potential, an increasing number of companies are establishing operations in these countries. A recent example is the 2016 collaboration between Merial and Zoetis, Inc., which is expected to allow the former to effectively market and distribute its product in India. Some of the other key companies in the market are Merck & Co., Inc., Bayer AG, Elanco, Boehringer Ingelheim GmbH, and Virbac Group.

TMR estimates that the global bovine respiratory disease treatment market will exhibit a promising 7.6% CAGR from 2016 through 2024. At this rate, the market, which had a valuation of US$805.9 mn in 2015 is projected to reach US$1,543.9 mn by 2024.

Get Sample of this Research Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=13700

Asia Pacific to Lead to Lucrative Growth Opportunities 

In terms of distribution channel, the segment of veterinary hospitals dominated, accounting for nearly 35% of the global market in terms of revenue in 2015. From a geographic perspective, North America which held nearly 37% of the market in 2015, dominated the global market and is expected to easily retain its dominance over the forecast period as well. However, owing to the rising population of cattle and the rising incidences of bovine respiratory diseases, the Asia Pacific market will emerge as one of the most lucrative regional markets for bovine respiratory disease treatment methods.

Rising Consumption of Animal Protein to Remain High-impact Driver 

Of the key factors driving the market, the rising consumption of beef is expected to have a prominent impact on the overall development of the market over the forecast period. According to a World Bank Group survey (2016), global human population is estimated to be 7.4 billion in 2016 and is growing at a rate of 1.8% per year. To sustain the ever rising demand for beef as well as other animal products from this mounting global population, there would be a vast rise in the world's cattle population in the near future. According to the Food and Agriculture Organization (FAO), the global cattle population will increase by 73% between 2015 and 2050, from nearly 936 mn in 2015 to nearly 2.6 bn in 2050.

As bovine respiratory diseases account for 65% to 80% of morbidity and 45% to 75% mortality rate in livestock animals, the rising cattle population will also intensify the need for effective treatment modalities for these diseases. This will have a significant positive impact on the global bovine respiratory disease treatment market.

Browse Research Report on Bovine Respiratory Disease Treatment Market: http://www.transparencymarketresearch.com/bovine-respiratory-disease-treatment-market.html

Strict Government Regulations to Restrain Market 

Several studies have demonstrated that bovine antibiotics can have a highly negative impact on human health. Issues such as induction of antimicrobial-resistant bacteria and disruption of normal human intestinal flora are commonly observed in individuals who consume animal products with excessive amount of antibiotics. According to The New York Times, around 2 million people in the U.S. fall sick every year and about 23,000 of them die from antibiotic-resistant infections induced due to consumption of such products.

These factors have urged government bodies to regulate the use of antibiotic therapeutics in animals too. In December 2013, the Food and Drug Administration (FDA) enforced a new policy related to the limited use of antibiotics in production animals. This is likely to hamper the growth of the bovine respiratory disease treatment market over the forecast period.

This review of the market is based on a recent market research report published by TMR, titled "Bovine Respiratory Disease Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024."

Browse Press Release on Bovine Respiratory Disease Treatment Market: http://www.transparencymarketresearch.com/pressrelease/bovine-respiratory-disease-treatment-market.htm

For the study, the market has been segmented as follows:

Global Bovine Respiratory Disease Treatment Market, by Treatment Type 

Vaccines

Antibiotics

NSAIDs

Immunomodulators

Others

 

Global Bovine Respiratory Disease Treatment Market, by Disease Type 

Upper Respiratory Tract Infections

Diphtheria

Pneumonia (lower respiratory tract infection)

 

Global Bovine Respiratory Disease Treatment Market, by Distribution Channel 

Veterinary Hospitals

Veterinary Clinics

Private Veterinary Pharmacies

Veterinary Research Institutes

Others

 

Global Bovine Respiratory Disease Treatment Market, by Geography 

North America

U.S.

Canada

Europe

Germany

U.K.

France

Spain

Italy

Rest of Europe

Asia Pacific

China

Japan

India

Australia & New Zealand

Rest of APAC

Middle East & Africa

Saudi Arabia

UAE

South Africa

North Africa

Rest of MEA

Latin America

Brazil

Mexico

Rest of Latin America

 

Browse Other Trending Research Reports: 

Veterinary Therapeutics Market: http://www.transparencymarketresearch.com/veterinary-therapeutics-market.html

 

U.S. Vaccine Market: http://www.transparencymarketresearch.com/us-vaccine-market.html

 

Veterinary Antibiotics Market: http://www.transparencymarketresearch.com/veterinary-antibiotics-market.html

About Us: 

Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.


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Blog: http://www.tmrblog.com/

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 24/10/2016

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