Global Farm Animal Drugs Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, July 16, 2024 /EINPresswire.com/ -- The farm animal drugs market has experienced robust growth in recent years, expanding from $18.21 billion in 2023 to $19.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing consumer demand for animal products, rise in zoonotic diseases, disease prevention and control, intensification of livestock farming, global population growth.

Strong Future Growth Anticipated
The farm animal drugs market is projected to continue its strong growth, reaching $25.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rising awareness of antimicrobial resistance, climate change impacts on livestock health, increasing focus on animal nutrition, rise in alternative proteins, phytogenic feed additives, biopharmaceuticals for livestock, digital platforms for farm animal health management.

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Growth Driver Of The Farm Animal Drugs Market
The increasing meat consumption is expected to propel the growth of the farm animal drug market going forward. Meat consumption refers to eating animal flesh as a food source. It is commonly made from livestock like chickens, pigs, or cattle. Farm animal drugs speed up animal development and improve how food becomes meat. Therefore, rising meat consumption would also help to increase farm animal drugs.

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Major Players And Market Trends
Key players in the farm animal drugs market include Eli Lilly and Company, Boehringer Ingelheim GmbH, Zoetis Inc., Alembic Pharmaceuticals Limited, Elanco Animal Health Incorporated, Hester Biosciences Limited, Ceva Santé Animale SA, Virbac SA, Huvepharma Inc., Phibro Animal Health Corporation, Dechra Pharmaceuticals PLC, Laboratorios Hipra S.A., Norbrook Laboratories Ltd., Neogen Corporation, Ouro Fino Saude Animal Participacoes SA, Eco Animal Health Ltd., Biogenesis Bago SA, Laboratorios Calier S.A., Laboratorios Syva S.A., Jurox Pty Ltd., Kepro B.V., Kyoritsu Seiyaku Corp., Merck Animal Health, Vetoquinol SA, Intas Pharmaceuticals Ltd., Nippon Zenyaku Kogyo Co. Ltd., SeQuent Scientific Limited, Agrovet Market Animal Health, Orion Pharma Animal Health, Zydus Animal Health and Investments Limited.

Major companies in the farm animal drugs market are focused on developing antimicrobial drugs, such as water-soluble granules, for female swine breeding to gain a competitive edge in the market. Water-soluble granules are solid, free-flowing particles that readily dissolve in water, often used for convenient and precise dispersion of substances in various applications.

Segments:
1) By Product: Anti-Infective, Parasiticides, Anti-Inflammatory, Anesthetics, Analgesics, Hormones And Related Product, Other Products
2) By Route Of Administration: Oral, Parenteral, Topical, Other Routes
3) By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores, Other Channels
4) By Animal: Livestock Animals, Equine

Geographical Insights: North America Leading The Market
North America was the largest region in the farm animal drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of farm animal drugs.

Farm Animal Drugs Market Definition
Farm animal drugs refer to pharmaceutically active compounds given to animals on farms when ill. Farm animal drugs are necessary to maintain the food supply, ensure animal welfare, and stop diseases from spreading from animals to people.

The main products of farm animal drugs are anti-infective, parasiticides, anti-inflammatory, anesthetics, analgesics, hormones, and related products, and others. Anti-infective refers to an agent with the ability to fight infection by either preventing the spread of an infectious agent or by destroying the infectious pathogen to treat severe infections, anti-infective medication is helpful in equine or small animal treatment. These are administered through oral, parenteral, topical, and other routes and can be distributed through veterinary hospitals, veterinary clinics, pharmacies, drug stores, and others for various animals including livestock animals and equine.

Farm Animal Drugs Global Market Report 2024 from THE BUSINESS RESEARCH COMPANY covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Farm Animal Drugs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on farm animal drugs market size, farm animal drugs market drivers and trends, farm animal drugs market major players, farm animal drugs competitors' revenues, farm animal drugs market positioning, and farm animal drugs market growth across geographies. The farm animal drugs market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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