Global Farm Animal Drug Market By Product Type (Anti-Infective, Parasiticides, Anti-inflammatory, Anesthetics, Analgesics, Hormones and Related Products, Others), Animal Type (Livestock Animals, Equine), Route of Administration (Oral, Parenteral, Topical, Others), Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
Market Analysis: Global Farm Animal Drug Market
Global farm animal drug market is expected to rise to an estimated value of USD 25421.46 million by 2026, registering a CAGR of 6.58% in the forecast period of 2019-2026. Rising demand for contaminated free meat and proteins and rising consumption of fresh meat are the factor for the growth of this market.
Market Definition: Global Farm Animal Drug Market
Farm animals drugs are specially designed for the treatment of the diseases related to animals. They are mainly designed for diagnosis and prevention of diseases in animals. They are very useful for animals as it used to maintain good health of the farm animals. Anti- inflammatory, anesthetics, hormones, anti- effective etc. are some of the common products of the farm animal drugs. Increasing demand for farm drugs in medical substance is the factor fueling the market growth.
- Rising usage of farm drugs in medical substances is driving the market growth
- Increasing prevalence for branded and good quality pharmaceuticals and drugs is another factor driving market
- Rising production of anti-infective and penetration of parasiticides is driving market
- Growing demand for contaminated free meats and protein is driving market.
- Dearth of awareness about the usage of drugs for animal is restraining the market growth
- Strict government rules related to the usage of farm animal drugs is another factor restraining market.
- Lack of skilled and trained professionals is another factor restraining market.
Segmentation: Global Farm Animal Drug Market
By Product Type
- Hormones and Related Products
By Animal Type
- Livestock Animals
By Route of Administration
By Distribution Channel
- Veterinary Hospitals
- Veterinary Clinics
- Pharmacies and Drug Stores
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In September 2016, Dechra Pharmaceuticals announced that they are opening their new laboratory in Croatian capital Zagreb so that they can expand their experimental treatments. It will help the company to expand them in the lucrative poultry vaccine market so that they can strengthen their position in the market.
- In April 2014, Eli Lilly and Company announced that they acquired Novartis Animal Health so that they can expand their animal health business, Elanco. This will also help the company to acquire, six dedicated research and development facilities, nine manufacturing sites, and their portfolio of approximately 600 products. This acquisition will help the company to expand their product portfolio and create new more innovations so that they can meet the need and requirement of the people.
Competitive Analysis: Global Farm Animal Drug Market
Global farm animal drug market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of farm animal drug market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Farm Animal Drug Market
Few of the major competitors currently working in the global farm animal drug market are Bayer AG, Boehringer Ingelheim International GmbH, Ceva, Elanco, Idexx Laboratories, Merck KGaA, Phibro Animal Health Corporation., Vetoquinol, Virbac, Zoetis, Kyoritsuseiyaku Corporation, Nippon Zenyaku Kogyo Co., Ltd., Alembic Pharmaceuticals Limited., SeQuent, Ashish Life Science., Ouro Fino Saude Animal, Dechra Pharmaceuticals.
Research Methodology: Global Farm Animal Drug Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry. The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others. Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global farm animal drug market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)