Cattle Healthcare Market is forecast to reach a value of US$ 12,041.3 Mn by 2028 at a CAGR of 6.2% between 2022 and 2028 | Idexx Laboratories, Boehringer Ingelheim, Virbac, Elanco, IDVet

The market for cattle healthcare was valued at US$ 7,882.4 Mn in 2021 and is anticipated to grow at a CAGR of 6.2% from 2022 to 2028 to reach US$ 12,041.3 Mn. Due to the increased emphasis on cow health across the globe, government involvement, or advantageous government initiatives, the market for cattle healthcare is expanding rapidly. Additionally, increased interest in cattle healthcare and rising immunisation demand are anticipated to fuel market expansion. However, it is anticipated that key factors like as legal obstacles, high animal testing costs, and a lack of funding and infrastructure will limit industry expansion.

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Regional Insights

The worldwide cattle healthcare market is divided into five regions based on geography: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

Due to rising government initiatives and R&D spending on cattle health, North America is predicted to gain the largest market share among all regions over the course of the projection period. For instance, because output depends on the health of the cattle, bovine healthcare is a crucial component of animal husbandry. Merck Animal Health debuted its Cattle Care365 project in January 2019 to assist cattle farmers in giving their animals the best possible care.

Due to the growing emphasis on cattle healthcare and expanding R&D spending in the cattle health sector in these areas, Europe and Asia Pacific are also anticipated to have substantial expansion in the global market for cattle healthcare. For instance, many nations in Europe and Asia are putting increasing emphasis on cattle health and launching various projects for it. In order to address pertinent cow health and welfare issues, the Cattle Health and Welfare Group (CHAWG) is extremely important in the UK. The CHAWG’s primary goal is to enhance the welfare and health of cattle.

Market Drivers

Over the course of the projection period, there will likely be more global attention paid to the health of cattle. One of the most important facets of animal husbandry, for instance, is the care of cattle because it directly affects the production and results of animal farming. SeQuent Scientific Ltd. introduced Citramox LA suspension injection for cattle and pigs in 10 European nations, including the important Western European markets, in December 2020. In addition, the medicine was approved by Laboratorios Karizoo, S.A., a corporate subsidiary in Spain, according to a regulatory filing by SeQuent Scientific Ltd.

During the projected period, participation by the government or beneficial government initiatives are anticipated to promote market growth. To preserve pure types of native cow breeds including Gir, Kankrej, Sahiwal, Ongole, and others, the Ministry of Science & Technology of the Government of India released IndiGau, India’s first Cattle Genomic Chip, in August 2021. Scientists from the National Institute of Animal Biotechnology (NAIB), Hyderabad, an independent organisation operating under the Department of Biotechnology’s auspices, worked cooperatively to develop the chip.

Market Opportunities

Increase in the incidence or prevalence of cattle diseases like Lumpy is anticipated to present companies in the global cow healthcare market with lucrative growth prospects. For instance, cattle and buffalo are susceptible to the extremely contagious viral disease known as Lumpy skin disease (LSD). According to the most recent data from the Indian government, the illness has killed over 110,000 cattle in India and affected over 2.4 million animals. Over 97,000 cattle died between July and September 23, 2022, due to the outbreak of lumpy skin disease in India.

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The global increase in demand for cow vaccination is anticipated to offer considerable potential prospects for market participants in the cattle healthcare sector. For instance, the need for safe and effective vaccinations is rising quickly along with the prevalence of cattle illness around the world. The Department of Animal Husbandry in Chandigarh took all necessary precautions to limit the disease in the city in August 2022.

Additionally, livestock owners receive a variety of services at their doorstep, such as free medicines for the care of their animals and general education to stop the spread of disease.

Market Trends

Due to the rising global demand for meat and the growing public awareness of the quality of meat and animal byproducts, animal health is crucial. Therefore, the need for veterinary care is growing along with the burden of animal sickness. Additionally, market participants and governments are concentrating on enhancing the welfare and health of cattle. Over the course of the forecast, this tendency is anticipated to persist.

Additionally, the burden of animal diseases, such as lumpy skin disease, has increased or is increasing, which has increased the requirement for immunisation (viral disease of cattle). The management of cattle health must include vaccination. For the prevention of infectious illnesses in both beef and dairy cattle, proper immunisation is crucial. Over the projection period, this tendency is anticipated to persist, fueling the market’s expansion.

Market Restraints

The development of the global cow healthcare market is anticipated to be hampered by regulatory difficulties and the high cost of veterinary services and animal testing. For instance, it might take months or years to conduct and evaluate some animal experiments, and each drug that is tested can cost hundreds of thousands or even millions of dollars.

Additionally, the regulatory and registration procedures in place currently constitute a significant barrier to the expansion of the market for cattle healthcare.

The development of the world market for cattle healthcare is anticipated to be hampered by a lack of finance and infrastructure. For instance, the majority of underdeveloped nations lack proper veterinary healthcare facilities, inadequate medicine and vaccine storage, poor connection, and extensive travel times between needed locations. The market’s expansion is being constrained by this as well as inadequate investment for cattle health.

Market Segmentation

The Product, Diagnostic Type, and Geography categories are used to segment the worldwide cattle healthcare market study.

The market is divided into vaccine, parasiticide, anti-infective, medical feed additive, and other pharmaceuticals based on the kind of product. Due to the rising need for vaccinations around the world, the vaccine segment is anticipated to dominate the cattle healthcare market over the forecast period. To protect cattle from various microorganisms, including bacteria, viruses, and protozoans, vaccines are available.

The increased demand for parasiticides is projected to lead to significant growth in the parasiticide segment in the near future. In animal medicine, parasiticides are frequently used to treat and prevent different parasites, including as fleas, ticks, and worms.

The veterinary diagnostics market for cattle is divided into Immunodiagnostic Test, Molecular Diagnostics, Diagnostic Imaging, Clinical Chemistry, and Other Veterinary Diagnostics categories based on diagnostic type. Due to the rise in the prevalence of infectious diseases in cattle, the market for immunodiagnostic tests is anticipated to outpace all others during the period of forecasting. Such disorders are diagnosed with immunodiagnostic testing.

Because molecular diagnostics are becoming more widely used, the Molecular Diagnostics Segment is also anticipated to experience considerable growth in the near future. Comparing molecular diagnostic tests to conventional ones, they are quicker and more sensitive.

Key Developments

Merck Animal Health invested USD 100 million in its Kansas manufacturing facility in July 2020 to increase the capacity of its animal vaccine production.

In order to further grow the Kiel production site, Bayer AG invested about 92 million euros in expanding its Animal Health Business in July 2017.

Key Companies Insights

The world market for cattle healthcare is incredibly cutthroat. Due to the rising demand for vaccinations brought on by the burden of infectious illnesses, industry players are now concentrating on introducing fresh products to the marketplace.

Ceva Animal Health Inc., Idexx Laboratories, Merck & Co. Inc., Boehringer Ingelheim, Bayer Healthcare, Virbac, Zoetis Inc., Elanco, and IDVet are a few of the major competitors in the worldwide cattle healthcare market.

 

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