Global Poultry Pharmaceuticals Market Reach a Value of US$ 10,095.6 Mn by 2027 At a CAGR of 8.2% | Coherent Market Insights
SEATTLE, May 04, 2021, (PHARMIWEB) —
Poultry pharmaceuticals are used for maintaining health of chickens and keeping them away from any type of disease. The poultry pharmaceuticals are chicken medicines, chicken antibiotics, and vaccines such as NOBILIS, Poulvac, and INNOVAX.
The global poultry pharmaceuticals market is projected to have a valuation of US$ 5,807.2 million and is anticipated to attain a market capital of US$ 10,095.6 million by 2027.
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Outbreak of contagious diseases associated to poultry is expected to boost growth of the global poultry pharmaceuticals market during the forecast period. As per the 2019 report from Centers for Disease Control and Prevention (CDC), around 1,134 individuals from 49 different states and Columbia District in the U.S. were infected with Salmonella. This contagious disease was transmitted due to contact between the individuals with backyard poultry.
Increased sanction of farm loans in emerging as well as developed economies is expected to provide robust growth opportunities for companies operating in the global poultry pharmaceuticals market. The Department of Agriculture Maine Farm Service Agency of the U.S. provides particular farm operating and farm proprietorship loans. This agency had provided around US$ 5.97 million worth of loans in 2019.
Rising popularity of vegan diet is expected to reduce demand for poultry, hence hamper growth of the global poultry pharmaceuticals market. As per The Vegan Society, the number of people having vegetarian food had risen from 276,000 to 600,000 in the time period of 2016-2019 in the U.K.
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Rising investments to propel the poultry market is expected to augment growth of the global poultry pharmaceuticals market. In May 2020, The U.S. Poultry Foundation had awarded a grant of US$ 7,000 to the University of North Georgia for recruiting students in its poultry science program.
The focus of key companies in the market on adoption of collaborative strategies to expand their share in the market. In April 2020, the vaccine developing company, Pacific GeneTech had collaborated with Kemin Industries through which the later will commercialize Salmonella vaccine of the former for poultry.
Key companies contributing in the global poultry pharmaceuticals market are Boehringer Ingelheim, Zoetis, Inc., Merial Animal Health (Sanofi), , Bayer AG, Ceva Sante Animale, Avivagen Inc., Pacific GeneTech, Bimeda, Virbac, Eli Lilly and Company (Elanco Animal Health), and Merck Animal Health.
In April 2020, a livestock products provider company, Avivagen, Inc., had announced the company has received an order of around 3 tons of OxC-beta Livestock from a veterinary products producer, UNAHCO, Inc.
In February 2020, the Elanco Animal Health Inc., had announced the company’s initiative East Africa Growth Accelerator has resulted a SRI (social return on investment) of about 250% for poultry and dairy small-holder farmers, their families and some stake-holders in the region.
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By Product Type:
- Other Drug Products
- Other Vaccine Products
- Feed Additives
- Other Feed Additives
By Animal Type:
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