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Farm Animal Drugs Market to Register a Stout Growth by End 2028
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The farm animal drugs market is projected to grow from US$ 18,253.09 million in 2021 to US$ 28,364.08 million by 2028; it is estimated to grow at a CAGR of 6.5% from 2021 to 2028.
The farm animal drugs market report highlights trends prevailing in the market and factors governing the growth of the market.
Drugs play a key role in maintaining the health of farm animals and improving the economic condition of farm producers. The need for better productivity has become important more, as the population are looking for nutritious and disease-free food products. The pharmacologically active compounds help prevent the passing of diseases from animals to humans. Farm animal’s health have been considerably shaped by the use of drugs. Farm animal drugs are medicines used for healthcare-based practices for diagnosis, cure, mitigation, treatment, or prevention of diseases that could affect livestock. These medicines are used as per strict requirements based on their essentiality to maintain the well-being of farm animals. Simply said, farm animal drugs are a key factor supporting the growth of the livestock industry across the world. Factors such as the growing use of pain management drugs in farm animals, rising incidence of foodborne diseases and infections, and surging demand for quality pharmaceuticals and food security boost the growth of the farm animal drugs market. However, the side effects of drugs in animals and strict government rules related to the usage of farm animal drugs hamper the growth of the market.
Based on animal type, the farm animal drugs market is bifurcated into livestock animals and equine. The livestock animals segment led the market in 2021, with a share of 90.77%, and it is expected to retain its dominance during the forecast period, accounting for 91.92% of the total market by 2028. The market growth for this segment is attributed to the rising adoption of advanced technologies in animal pharmaceuticals, increasing number of screening tests being performed in farm animals, growing government funding for animal hospitals, and the elevating prevalence of zootonic diseas
PHIBRO ANIMAL HEALTH CORPORATION, Zoetis Inc., Ceva, Elanco, Virbac, INTAS PHARMACEUTICALS LTD., Alembic Pharmaceuticals Limited, Boehringer Ingelheim International GmbH, MSD Animal Health, and Vetoquinol SA are among the leading companies operating in the farm animal drugs market.
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The Report Segments Farm Animal Drugs Market as Follows:
The farm animal drugs market is segmented on the basis of product type, animal type, route of administration, and distribution channel. Based on product type, the market is segmented into anti-infective, parasiticides, anti-inflammatory, anesthetics, analgesics, hormones and related product, and others. Based on animal type, the market is bifurcated into livestock animal and equine. Based on route of administration, the farm animal drugs market is segmented into oral, parenteral, topical, and others. Based on distribution channel, the market is segmented into veterinary hospitals, veterinary clinics, pharmacies and drug stores, and others.
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South and Central America (SCAM)
- Rest of South and Central America
Farm Animal Drugs Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Anti-Infective, Parasiticides, Anti-Inflammatory, Anesthetics, Analgesics, Hormones and Related Product, and Others), Animal Type (Livestock Animal and Equine), Route of Administration (Oral, Parenteral, Topical, and Others), and Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores, and Others), and Geography
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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Contact Person: Sameer Joshi
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