Cattle Health Market to grow with a CAGR of 7.48% During Forecast Period
Increasing healthcare infrastructure and a supportive regulatory environment are the major drivers for the Global Cattle Health Market.
According to TechSci Research report, “Global Cattle Health Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Cattle Health Market has valued at USD 8.01 billion in 2022 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 7.48% through 2028. This can be due to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.
Consumer demand for safe and sustainable products is a significant driver of the global cattle health market. As consumers become more conscious of the food they consume and the environmental impact of agriculture, they seek assurances of product safety, quality, and sustainability. Consumers prioritize food safety, including the safety of beef and dairy products. Ensuring the health of cattle through proper disease management, vaccination, and hygiene practices is essential to produce safe and pathogen-free meat and dairy products. Consumer expectations for high-quality beef and dairy products drive the need for cattle health management. Healthy cattle are more likely to produce meat and milk of superior quality, meeting consumer preferences for taste and nutritional value. Sustainability is a growing concern for consumers. Sustainable cattle health management practices, including responsible antibiotic use, reduced environmental impact, and efficient resource utilization, resonate with consumers seeking environmentally friendly products. Consumers may prefer products from cattle that have been raised with reduced or no use of chemical additives, such as antibiotics or growth promoters. This trend encourages alternative health management strategies.
Browse over XX market data Figures and spread through XX Pages and an in-depth TOC on "Global Cattle Health Market.”
Production of animal products is anticipated to rise because of rising demand and increasing animal product value and volume. For instance, the production of cattle and poultry is expanding significantly in India and the United States, which is also a key driver of market expansion. Product introductions are a further driver of market expansion since they offer cattle greater care, which boosts adoption and, ultimately, market expansion.
In June 2022, to meet the health and wellness requirements of dogs and farm animals in small towns and rural communities, Petco Health and Wellness Company, Inc. has announced the launch of a new community-driven test concept. The new Neighbourhood Farm & Pet Supply pet care centres from Petco offer brand-new, independent retail spaces that are ideally positioned in the middle of rural and small-town areas. The Neighbourhood Farm & Pet Supply pet care centres will act as one-stop shops for health and wellness solutions for pets and farm animals like horses, cows, pigs, sheep, goats, and more, while showcasing the pet-focused support, curated assortment of high-quality products, and pet care services for which Petco is renowned.
Environmental concerns present challenges for the global cattle health market. Cattle farming can have significant environmental impacts, and addressing these concerns is essential for the sustainability of the industry. Cattle farming is a significant source of greenhouse gas emissions, primarily methane (CH4) and nitrous oxide (N2O). These emissions contribute to climate change and global warming. Strategies to reduce methane emissions, such as improving cattle diets and manure management, are important but can also affect cattle health and nutrition. Expanding cattle farming often leads to deforestation, especially in regions like the Amazon rainforest. Deforestation not only contributes to habitat loss but also impacts local and global climate patterns. Sustainable land management practices are needed to balance cattle farming with environmental conservation.
Global Cattle Health Market segmentation is based on Therapeutics, Diagnostics, and Region.
Based on Therapeutics, Global Cattle Health Market is segmented into Vaccine, Parasiticide, Anti-infective, Medical Feed Additive, and Other Therapeutics. Medical feed additives in cattle health are substances added to animal feed to promote and maintain the health and well-being of cattle. These additives can serve various purposes, including disease prevention, growth promotion, and improved overall cattle health. Antibiotics are used in cattle feed to treat and prevent bacterial infections. They can be essential in controlling diseases, such as respiratory infections, mastitis in dairy cows, and foot rot. However, the use of antibiotics in livestock feed is heavily regulated due to concerns about antibiotic resistance in humans and animals. Some feed additives are used to enhance cattle growth and feed efficiency. These may include growth-promoting hormones (e.g., synthetic growth hormones) and feed additives that improve nutrient utilization.
Based on Region, North America dominated the Global Cattle Health Market. North America has a well-established and advanced veterinary care system. This includes many skilled veterinarians, modern veterinary clinics, and research institutions focused on cattle health. These resources contribute to the development and adoption of innovative cattle health solutions. North America is home to many pharmaceutical and biotechnology companies that specialize in animal health. These companies develop and market a wide range of veterinary products, including vaccines, antibiotics, and other healthcare solutions for cattle. The region's regulatory environment is relatively stable and conducive to the cattle health industry. Regulatory agencies ensure the safety and efficacy of veterinary products, providing confidence to both producers and consumers.
Asia-pacific region to fastest growth in the Global Cattle Health Market. The Asia-Pacific region has witnessed a significant rise in meat and dairy consumption due to population growth, urbanization, and rising incomes. This increased demand for cattle products has led to a greater focus on cattle health management to ensure the production of safe and high-quality meat and dairy. Many countries in the Asia-Pacific region have been investing in the expansion and modernization of their cattle farming operations. This includes both beef and dairy production. As cattle herds grow, there is a greater need for effective health management practices to maintain herd health and productivity. The growth of the middle class in the Asia-Pacific region has led to changing dietary preferences, with an increasing demand for animal protein. As a result, there is a greater emphasis on optimizing cattle health and productivity to meet this demand.
Some of the major
companies operating in the Global Cattle Health Market include:
- Qiagen LLC
- Boehringer Ingelheim
- Thermo Fisher Scientific
- Elanco Animal Health
- Idexx Laboratories
- ID Vet
- Kyoritsuseiyaku Corporation
- Merck & Co Inc.
- Norbrook laboratories
- Zoetis Inc.
Download Free Sample Report
Customers can also request 10% free customization on this report.
“Certain areas, particularly in North America, are projected to exert significant demand for cattle health. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhance the overall wellbeing of people each year, are expected to contribute to a remarkable growth of the Global Cattle Health Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
Cattle Health Market - Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Therapeutics (Vaccine, Parasiticide, Anti-infective, Medical Feed Additive, and Other Therapeutics) and By Diagnostics (Immunodiagnostic Test, Molecular Diagnostics, Diagnostic Imaging, Clinical Chemistry, and Other Diagnostics), and By Region, Competition evaluated the future growth potential of Global Cattle Health Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Cattle Health Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com