Global Farm Healthcare Market, By Animal Type (Production Animal and Companion Animal), Product Type (Pharmaceuticals, Medical Devices, Veterinary Services and Others), Distribution Channel (Retail, E-commerce, Hospital Pharmacy and Others), End Use (Reference Laboratories, Point-of-care Testing/ In-house Testing, Veterinary Hospitals and Clinics and Others), Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights : Global Farm Healthcare Market
Data Bridge Market Research analyses that the farm healthcare market will project a compound annual growth rate (CAGR) of 8.20% during the forecast period of 2022-2029. Growing demand for animal based and plant based products especially in the developing economies, increasing focus on the latest trends in the market, growing application of advanced and modern agricultural practices to improve the productivity, high growth in emerging countries coupled with high adoption of innovative technologies, increasing livestock population and increasing industry competitiveness are the major factors attributable to the growth of farm healthcare market. Therefore, the farm healthcare market value, which was USD 21.58 billion in 2020, would rocket up to USD 43.86 billion by 2029
From the name itself, it is clear that farm healthcare is an approach that deals with taking care of the farm animals against multiple diseases. Farm healthcare is vital in improving the lifespan of farm animals.
Growing presence of e-commerce platforms promoting online pharmacies, rising prevalence of animal diseases, and increased focus towards the adoption of practices that promote good health in animals especially in the developing economies will emerge as the major factors fostering the growth of the market. Also, growing demand for quality meat and dairy products all over the globe, growing rate of industrialization and rising expenditure for research and development proficiencies in regards to new product launches are other important factors fostering the growth of the market. Growing support by the government to strengthen the agricultural sector, increasing focus on the adoption of high quality animal feed and surging trend of organized livestock farming in the developing economies will further create lucrative and remunerative growth opportunities for the market.
However, lack of knowledge and awareness in the backward economies among the small-scale farmers is a major factor that will pose a major challenge to the growth of the market. Also, dearth of required infrastructural facilities and lack of technical skills especially in the underdeveloped economies will further slowdown the market growth rate. Fluctuations in the prices of raw materials and stringent regulations imposed by the government on the product approvals would also hamper the market growth rate.
This farm healthcare market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on farm healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Farm Healthcare Market Scope and Market Size
The global farm healthcare market is segmented on the basis of animal type, product type, distribution channel and end use. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on the animal type, the farm healthcare market is segmented into production animal and companion animal. Production animal segment is sub-segmented into poultry, swine, cattle, sheep and goats and fish. Companion animal segment is sub-segmented into dogs, cats, horses and others.
- Based on the product type, the farm healthcare market is segmented into pharmaceuticals, medical devices, veterinary services and others. Pharmaceuticals segment is sub-segmented into drugs, vaccines and medicated feed additives. Drugs segment is further bifurcated into anti-parasitic, anti-inflammatory and anti-infective. Vaccines segment is further bifurcated into modified live vaccines and killed inactivated vaccines. Medicated feed additives segment is further bifurcated into antibiotics, vitamins, amino acids, enzymes, antioxidants, prebiotics and probiotics and minerals. Medical devices segment is sub-segmented into veterinary diagnostic equipment, veterinary, anaesthesia equipment, veterinary patient monitoring equipment, veterinary surgical equipment, and veterinary consumables.
- Based on the distribution channel, the farm healthcare market is segmented into retail, e-commerce, hospital pharmacy and others.
- Based on the end use, the farm healthcare market is segmented into reference laboratories, point-of-care testing/ in-house testing, veterinary hospitals and clinics and others.
Farm Healthcare Market Country Level Analysis
The global farm healthcare market is analyses and market size, volume information is provided by country by animal type, product type, distribution channel and end use as referenced above.
The countries covered in the farm healthcare market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America region dominates the farm healthcare market and will continue to flourish its dominance during the forecast period owing to the rising research and development proficiencies, high awareness and preference among livestock owners and technological advancements and implementation of farm animal healthcare benefits across the region. Asia-Pacific region continue to undergo substantial gains during the forecast period and will score the highest CAGR. Growing personal disposable income, increased rate of livestock population, surging presence of animal feed manufacturers and surge in the expenditure for research and development proficiencies are some other important factors fostering the growth of this region.
The country section of the farm healthcare market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Farm Healthcare Market Share Analysis
The global farm healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to farm healthcare market.
Some of the major players operating in the farm healthcare market are Merck Sharp & Dohme Corp., BASF SE, Intervet Inc., Ceva, Vetoquinol S.A., Zoetis, Covetrus., BoehringerIngelheim International GmbH., IDEXX., Bayer AG, Elanco., Nutreco, Virbac., Intas Pharmaceuticals Ltd., Zydus Animal Health and Investments Limited, Eli Lilly and Company, Hester Biosciences Limited, Alivira Animal Health Limited, Norbrook, Phibro Animal Health Corporation and Dechra Pharmaceuticals PLC among others.
Customization Available: Global Farm Healthcare Market
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