What Has Been The Evolution of the Farm Animal Drugs Market in Recent Years?
The farm animal drugs market has seen considerable growth due to a variety of factors.
•The market size for farm animal drugs has experienced a robust increase in the past few years. It is expected that the market will escalate from a value of $19.41 billion in 2024 to $20.71 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.7%.
The upward trend in the historical period can be credited to a higher consumer demand for animal-based products, surge in zoonotic diseases, increased emphasis on disease prevention and control, intensification of livestock farming, and worldwide population growth.
What Is the Forecasted Market Size and Growth Rate for The Farm Animal Drugs Market?
The farm animal drugs market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the farm animal drugs market is anticipated to experience robust growth in the coming years, reaching $26.85 billion in 2029 with a compound annual growth rate (CAGR) of 6.7%.
The anticipated growth in this period can be linked to escalating consciousness of antimicrobial resistance, the implications of climate change on livestock health, heightened emphasis on animal nutrition, an increase in alternative proteins, phytogenic feed additives, biopharmaceuticals for livestock, and the growth in digital platforms for farm animal health management. Significant trends for this predicted period encompass technological progression in veterinary medicine, advancements in precision livestock farming technologies, application of blockchain technology for transparent supply chains, and the incorporation of AI and ML technologies.
What Are The Core Factors Supporting Growth In The Farm Animal Drugs Market?
The growth of the farm animal drug market is anticipated to be driven by the increasing demand for meat. The term 'meat consumption' refers to the ingestion of animal flesh as a food source and is typically derived from livestock animals such as chickens, pigs, or cattle. Farm animal drugs are utilized to accelerate animal growth and enhance the process of transforming food into meat. As such, an increase in meat consumption is likely to also boost the demand for farm animal drugs. For example, as per a report released by the United States Department of Agriculture (USDA) in April 2023, a federal agency in the US managing agriculture, food, and rural development, there was an increase in beef meat consumption from 12,712 metric tons in 2021 to 12,803 metric tons in 2022. Similarly, pork meat consumption saw an increase from 9,918 metric tons in 2021 to 9,959 metric tons in 2022, and chicken meat consumption rose from 17,164 metric tons in 2021 to 17,674 metric tons in 2022. Hence, the surge in meat consumption is fueling the growth of the farm animal drug market.
What Are The Major Segments Within The Global Farm Animal Drugs Market?
The farm animal drugs market covered in this report is segmented –
1) By Product: Anti-Infective, Parasiticides, Anti-Inflammatory, Anesthetics, Analgesics, Hormones And Related Product, Other Products
2) By Route Of Administration: Oral, Parenteral, Topical, Other Routes
3) By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies And Drug Stores, Other Channels
4) By Animal: Livestock Animals, Equine
Subsegments
1) By Anti-Infective: Antibiotics, Antivirals, Antifungals
2) By Parasiticides: Endectocides, Anthelmintics, Ectoparasiticides
3) By Anti-Inflammatory: Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Corticosteroids
4) By Anesthetics: Local Anesthetics, General Anesthetics
5) By Analgesics: Opioids, Non-Opioid Analgesics
6) By Hormones And Related Products: Reproductive Hormones, Growth Promoters, Thyroid Hormones
7) By Other Products: Vaccines, Nutraceuticals, Diagnostic Products
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Which Trends Are Expected To Transform The Farm Animal Drugs Market?
Leading firms in the farm animal pharmaceutical industry are focusing their efforts on creating antimicrobial medicine, such as water-soluble granules, specific for breeding sows in order to gain an advantage in the market. Water-soluble granules are small, easily flowing solid particles that dissolve swiftly in water, and are often employed to disperse substances accurately and conveniently in diverse applications. As an illustration, Pharmgate Animal Health, an American livestock pharmaceutical company, got approval from the FDA for their product, Aivlosin Water Soluble Granules (WSG), which includes 62.5% w/w tylvalosin as tylvalosin tartrate, in October 2023. This approval makes it viable for usage in replacement gilts, pregnant sows, nursing sows, and sows weaned from piglets. Aivlosin, an antimicrobial medicine, has to be prescribed by certified veterinarians and given continuously at 50 ppm tylvalosin mixed in drinking water for five continuous days. This approval now allows it to be used to manage and control porcine proliferative enteropathy and swine respiratory infections in breeding females during outbreaks.
Who Are the Key Players in the Farm Animal Drugs Market?
Major companies operating in the farm animal drugs market include:
• Eli Lilly and Company
• Boehringer Ingelheim GmbH
• Zoetis Inc.
• Elanco Animal Health Incorporated
• Hester Biosciences Limited
• Ceva Santé Animale SA
• Virbac SA
• Huvepharma Inc
• Phibro Animal Health Corporation
• Dechra Pharmaceuticals plc
• Laboratorios Hipra S.A.
• Norbrook Laboratories Ltd.
• Neogen Corporation
• Ouro Fino Saude Animal Participacoes SA
• Eco Animal Health Ltd
• Biogenesis Bago SA
• Laboratorios Calier S.A.
• Laboratorios Syva S.A.
• Jurox Pty Ltd
• Kepro B.V.
• Kyoritsu Seiyaku Corp.
• Merck Animal Health
• Vetoquinol SA
• Nippon Zenyaku Kogyo Co. Ltd.
• SeQuent Scientific Limited
• Agrovet Market Animal Health
• Orion Pharma Animal Health
• Zydus Animal Health and Investments Limited
What Is The Most Dominant Region In The Farm Animal Drugs Market?
Asia-Pacific was the largest region in the farm animal drugs market in 2024. The regions covered in the farm animal drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
