DUBLIN, February 22, 2022 /PRNewswire/ — The “Farmed Animal Health Market – Growth, Trends, Impact of COVID-19, and Forecast (2021-2026)” report has been added to from ResearchAndMarkets.com offer.
The farm animal health market is poised to grow at a CAGR of 8.2% during the forecast period (2021-2026).
The COVID-19 pandemic is expected to have a significant impact on the market. Much information is available on coronaviruses in animals, regarding their evolution and pathophysiology. Porcine coronavirus disease can be used as a benchmark to understand species-to-species transmission of coronavirus. According to the Current Opinion in Virology study, in 2019 porcine delta coronavirus was identified as the causative agent of severe diarrhea outbreaks in North America and Asiaand it emerged from avian delta coronaviruses.
Moreover, several repeated events have been observed regarding the transmission of the virus between species of animals, and this strongly supports the natural origin of SARS-CoV-2. Many countries had been locked down and suspended trade with other countries, leading to a drop in the market capitalization of major companies across the world, as well as a decline in industrial production and other businesses. According to the report by the Food and Agriculture Organization of the United Nations, the pandemic situation has greatly impacted farm animals and their products in terms of the supply chain.
Therefore, governments are taking steps to limit the supply of drugs. For example, the European Medicines Agency has published guidance for companies responsible for veterinary medicinal products, with regard to adaptations of the regulatory framework, mainly to meet the challenges encountered during this pandemic situation. Hence, a slight short-term negative impact is observed in the farmed animal health market, during the COVID-19 outbreak.
Main market trends
Parasiticides Represent High Growth Opportunities for Farm Animal Healthcare, Over the Forecast Period
Parasiticides are in high demand for the treatment of many diseases in farm animals. With the growth of the livestock industry, an excessive increase in the demand for veterinary pharmaceuticals is expected. Animals are more susceptible to infection from internal parasites, which typically include hairworms, lungworms, liver flukes, and coccidia. External parasites that can be harmful to animals include horn flies, lice and grubs. Parasitic diseases in animals cause worrying health and reproductive conditions, impaired growth and reduced productivity.
Therefore, pest control is essential for better animal health. Commonly used antiparasitics are levamisole, fenbendazole, oxfendazole, albendazole, moxidectin, eprinomectin, etc. Most of the key players are focusing on innovation in pest control products, to develop advanced dosage forms of oral pest control.
For example, in November 2019Ceva had launched Salmoporc, a Salmonella vaccine for pigs, in the UK and Ireland. Salmoporc protects against Salmonella Typhimurium and its monophasic variants. It is administered orally to piglets and by subcutaneous injection to sows. This has increased the market growth opportunities for the company in different countries.
North America dominates the farmed animal health market
North America The region is one of the major contributors to agriculture, animal husbandry, technological advancements and the implementation of farmed animal health benefits in the region. United States is one of the most developed economies in the world. It currently holds the majority of the farmed animal health market and is expected to follow the same trend during the forecast period. The federal regulation of United States and national regulations are responsible for the registration and introduction of new animal health products in the country.
The registration, introduction or import of these products into the country is done strictly under the supervision of these regulatory authorities. There are various tests and certifications that are supposed to be cleared. veterinary vaccines in United States are regulated by the Center for Veterinary Biologics (CVB) of the Animal and Plant Health Inspection Service (APHIS). The CVB grants establishment and product licenses to animal health companies to manufacture and sell veterinary biologics.
In United States, advances in vaccine development include the development of live vector vaccines, nucleic acid-mediated vaccines, live gene-suppressed vaccines, and other vaccines. Boehringer Ingelheim, in 2018, launched a vaccine for poultry, HatchPak IB H120TM NeO, a freeze-dried live attenuated bronchitis virus, to simplify vaccination of chicks against bronchitis virus. In addition, in June 2020, Huvepharma EOOD, has received US FDA approval for its product “Vetmulin12.5%”, an antibiotic used for the treatment of swine dysentery. Hence, these will drive the growth of the regional market.
The market is moderately concentrated with a few large players. With significant food supply needs and a demand for social welfare between humans and animals, companies are very competitive to invest in farm animal health. The market has observed mergers and acquisitions of large companies in recent years to enhance their technology and global dominance. Major players include Zoetis, Merck, Boehringer Ingelheim, Elanco, Vetoquinol, and Ceva Animal Health.
Main topics covered:
1.1 Study assumptions and market definition
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Advanced Technology Leading to Animal Health Innovations
4.3.2 Increase the initiatives of governments and animal protection associations in different countries
4.3.3 Increasing productivity in the face of the risk of emergence of zoonoses
4.4 Market Constraints
4.4.1 Use of counterfeit medicines
4.4.2 Rising Costs of Animal Testing and Veterinary Services
4.5 Porter’s Five Forces Analysis
4.5.1 Threat of new entrants
4.5.2 Bargaining power of buyers/consumers
4.5.3 Bargaining power of suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By product
5.1.4 Medical food additives
5.1.5 Other products
5.2 By animal type
5.2.5 Other farm animals
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of Europe
5.3.3 Asia Pacific
126.96.36.199 South Korea
188.8.131.52 Rest of Asia Pacific
5.3.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/9gcfoq
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