Farm Animal Drugs Market is expected to reach US$ 29.4 Billion by 2032
The global farm animal drugs market is estimated to be worth US$ 17.2 billion by the end of 2022, and to grow at a 5.5% CAGR from 2022 to 2032. By the end of 2032, the market is expected to be worth US$ 29.4 billion. In terms of animals, livestock animals are the market leader, accounting for around 92.4% of the market in 2021.
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Omnivores are directly dependent on healthy, productive animals for food and financial stability, particularly in low- and middle-income countries where a substantial number of people make a living by rearing animals. According to the Health for Animals Organization, 1.3 billion people globally keep livestock (2021). As a result, regulating and preventing animal diseases is critical to attaining the SDGs and provides a global public benefit.
Antibiotics are also routinely used to treat ill animals. Failure to adhere to drug withdrawal periods in farm animals results in contaminated goods, raising questions about their safety when consumed by humans. Items containing more than a particular amount of antibiotic residue are considered inappropriate for ingestion and should be disposed of in a way that minimises the risk of environmental contamination.
Antimicrobial-resistant bacteria can be transmitted to humans either directly or indirectly through contaminated environments, tainted foods, or direct contact with animals. These considerations are expected to push pharmaceutical companies to create novel farm animal medications.
US Farm Animal Drugs Market
The United States dominates the North American area, with a farm animal Drugs market share of approximately 56.5% in 2021. According to FMI, the country is anticipated to maintain its current growth rate during the forecast year. Rising prevalence of numerous animal diseases caused by increased globalisation, strong demand for meat exports from the United States, and antibiotic resistance in animals are expected to drive important stakeholders in the country to produce breakthrough farm animal medications.
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Germany Farm Animal Drugs Market
In 2021, Germany owned a 2.7% share of the worldwide farm animal medicines market. Stringent legislation restricting the use of antibiotics to increase farm animal productivity is one factor affecting antibiotic sales in the country. The majority of cattle production in Germany is highly industrialised and modernised, with increasing percentages of output employing various biosecurity measures and disease-threat reduction strategies. Regulations or consumer pressures have encouraged the country to adopt disease-reduction initiatives, which would boost the German farm animal medicine industry.
Key companies profiled in the report are Bayer AG, Boehringer Ingelheim GmbH, Zoetis, Inc., Ceva Santé Animale, Dechra Drugs 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.
A good market segmentation always covers the vitals in that particular market to arrive at important decisions. In the case of the farm animal drugs market, an all-inclusive research segmentation can be seen.
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- Hormones and related products
- Livestock Animals
Route of Administration
- Veterinary Hospitals
- Veterinary Clinics
- Pharmacies and Drug Stores
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