Livestock Pharmaceuticals Market | Global Industry Report 2018 – 2024 | PBIGP
Added: (Fri Feb 08 2019)
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Livestock Pharmaceuticals Market | Global Industry Report 2018 – 2024 | PBIGP
Global industrial statistics of Livestock Pharmaceuticals Market
Livestock pharmaceuticals are used to treat various diseases in animals such as infectious diseases, parasitic diseases, and inflammatory diseases among others. Vaccines are administered to livestock for the prevention of various diseases which increase the immunity of the livestock and makes animal healthy. Livestock pharmaceuticals can be administered as solids or liquids directly to the livestock or some pharmaceuticals can be mixed with the animal feed.
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Increase in the prevalence of various livestock diseases such as bird flu in poultry, rise in animal welfare expenditure, government initiatives for the animal health management, and rise in demand for healthy meat and other livestock products are anticipated to fuel the global animal pharmaceuticals market. Moreover, rise in disposable income, increase in the awareness about livestock diseases and treatment, and rise in R&D activities for the innovation of newer therapeutics and vaccines might bolster the growth of the veterinary drugs market. However, stringent regulatory guidelines for veterinary medicine approval, ban of certain antibiotics used in the animal diseases, poor availability of drugs in the underdeveloped regions, and dearth of skilled veterinary professionals are hampering the growth of global animal pharmaceuticals market.
The global animal pharmaceuticals market is divided into following categories-
1. Drug class
• Vaccines
• Antivirals
• Antibiotics
• Parasiticides
• Anti-inflammatory drugs
• Others
2. Disease type
• Neurological disorders
• Infectious diseases
• Viral diseases
• Bacterial diseases
• Fungal diseases
• Others
3. Route of administration
• Oral
• Parenteral
• Topical
• Others
4. Livestock
• Poultry
• Aquatic Animals
• Swine
• Equine
• Sheep
• Cattle
• Others
5. End-users
• Veterinary hospitals
• Veterinary pharmacies
• Online pharmacies
And lastly, on the basis of geographical regions, the global veterinary healthcare market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Increase in the R&D activities for the development of newer drugs by several U.S. pharmaceutical companies, rise in awareness about the veterinary diseases and treatment, increase in the animal welfare expenditure, and rise in product approvals for livestock diseases are anticipated to propel the North America veterinary healthcare market. Europe animal drugs market growth driven by rise in the production of aquatic animals in Norway, Denmark, Ireland, and other European countries, increase in the demand for healthy meat and other livestock products, rise in the disposable income, and increase in the prevalence of zoonotic diseases. However, Asia Pacific animal health market growing at significant rate owing to increase in population demanding for quality meat, launching of newer drugs in Asia Pacific region, and industrialization of poultry sector in the region.
Some of the key players in animal health market are Merck Animal Health (U.S.), Zoetis Inc. (Pfizer) (U.S.), Boehringer Ingelheim (Germany), Ceva Animal Health (France), Bayer Animal Health (Germany), Virbac Inc. (France), Elanco Animal Health (U.S.), Eco Animal Health (U.K.), and Heska Corporation (U.S.) to name a few. Some of the notable market developments in veterinary healthcare market include ECO Animal Health received FDA approval for Aivlosin an antibiotic used in the treatment of major enteric and respiratory diseases in poultry and swine
Animal drugs market growing at a significant rate owing to increase in the R&D activities for the innovation of newer drugs for various livestock diseases. Increase in the prevalence of various livestock diseases, rise in demand for healthy meat and other livestock products, increase in the farming of aquatic animals might propel the livestock pharmaceuticals market over the forecast period. Acquisitions & mergers, collaborations, and product launching are the strategies followed by the companies for increasing their revenue share in global animal pharmaceuticals market. For instance, in 2014, Merck Animal Health launched Finadyne a transdermal non-steroidal anti-inflammatory drug used in cattle for the treatment of pyrexia associated with bovine respiratory disease.
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