Overview and Scope
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.
Sizing and Forecast
The farm animal drugs market size has grown strongly in recent years. It will grow 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.
The farm animal drugs market size is expected to see strong growth in the next few years. It will grow to $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. Major trends in the forecast period include technological advancements in veterinary medicine, advancements in precision livestock farming technologies, blockchain technology for supply chain transparency, integration of ai nad ml.
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Segmentation & Regional Insights
The farm animal drugs market covered in this report is segmented –
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
Asia-Pacific was the largest region in the farm animal drugs market in 2023. The regions covered in the farm animal drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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. For instance, in April 2023, according to the report published by the United States Department of Agriculture (USDA), a US-based federal agency responsible for overseeing agriculture, food, and rural development, beef meat consumption increased from 12,712 metric tons in 2021 to 12,803 metric tons in 2022. Pork meat consumption increased from 9,918 metric tons in 2021 to 9,959 metric tons in 2022, and chicken meat consumption increased from 17,164 metric tons in 2021 to 17,674 metric tons in 2022. Therefore, the increasing meat consumption is driving the growth of the farm animal drug market.
Key Industry Players
Major companies operating in the farm animal drugs market report are 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
The farm animal drugs market report table of contents includes:
- Executive Summary
- Farm Animal Drugs Market Characteristics
- Farm Animal Drugs Market Trends And Strategies
- Farm Animal Drugs Market – Macro Economic Scenario
- Global Farm Animal Drugs Market Size and Growth
- Farm Animal Drugs Market Segmentation
- Farm Animal Drugs Market Regional And Country Analysis
………….
- Key Mergers And Acquisitions In The Farm Animal Drugs Market
- Farm Animal Drugs Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Farm Animal Drugs Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Farm Animal Drugs Market, Segmentation By Route Of Administration, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Farm Animal Drugs Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Eli Lilly and Company Financial Performance
Table 76: Boehringer Ingelheim GmbH Financial Performance
Table 77: Zoetis Inc. Financial Performance
Table 78: Alembic Pharmaceuticals Limited Financial Performance
Table 79: Elanco Animal Health Incorporated Financial Performance
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