Global Farm Animal Drugs Industry is poised for a 5.5% CAGR by 2032 upsurge, fueled by escalating interest in solutions for animal well-being:  FMI

By the end of 2022, the global farm animal pharmaceutical industry size is projected to grow to a value of US$ 17.2 billion. The market is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2032, when it is valued at US$ 29.4 billion. Livestock animals will account for about 92.4% of the market in 2021.

Productive, healthy animals are essential to omnivores’ access to food and financial security, particularly in low- and middle-income countries where animal husbandry is a significant industry. Over 1.3 billion people raise livestock worldwide, according to the Health for Animals Organisation. This highlights how important it is to prevent and control animal diseases in order to meet the Sustainable Development Goals and benefit society as a whole.

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Antibiotics are commonly used to treat sick animals, but failure to adhere to drug withdrawal periods can result in contaminated products, raising concerns about their safety when consumed by humans. Products that contain an excess amount of antibiotic residue are considered unfit for consumption and should be disposed of in a way that minimizes the risk of environmental contamination.

Antimicrobial-resistant bacteria can be transmitted to humans directly or indirectly through contaminated environments, contaminated food, or direct contact with animals. As a result, pharmaceutical companies are expected to develop innovative medications for farm animals to address these concerns.

US Farm Animal Drugs Market:

The United States dominates the North American area, with a farm animal Drugs market share of approximately 56.5% in 2021. According to FMI, the country is anticipated to maintain its current growth rate during the forecast year. Rising prevalence of numerous animal diseases caused by increased globalisation, strong demand for meat exports from the United States, and antibiotic resistance in animals are expected to drive important stakeholders in the country to produce breakthrough farm animal medications.

Germany Farm Animal Drugs Market:

In 2021, Germany owned a 2.7% share of the worldwide farm animal medicines market. Stringent legislation restricting the use of antibiotics to increase farm animal productivity is one factor affecting antibiotic sales in the country. The majority of cattle production in Germany is highly industrialised and modernised, with increasing percentages of output employing various biosecurity measures and disease-threat reduction strategies. Regulations or consumer pressures have encouraged the country to adopt disease-reduction initiatives, which would boost the German farm animal medicine industry.

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Competitive Landscape:

• Bayer AG
• Boehringer Ingelheim GmbH
• Zoetis, Inc.
• Ceva Santé Animale
• Dechra Pharmaceuticals PLC
• Elanco Animal Health (Sub. Eli Lilly)
• Merck Animal Health
• Virbac SA
• Vetoquinol SA
• Intas Animal Health
• Alembic Animal Health
• Sequent Scientific
• Hester Biosciences
• Ashish Life Sciences

More Insights Available:

North America holds a significant share of the global animal drugs market due to the high prevalence of various animal diseases and increasing awareness about animal health among pet owners. Additionally, the presence of major animal health companies in the region is driving the growth of the market.

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Key Segments Covered in Farm Animal Drugs Market Analysis:

Product Type:

• Anti-Infective
• Parasiticides
  • Endo-parasiticides
  • Ecto-parasiticides
  • Endectocides
• Anti-inflammatory
• Anesthetics
• Analgesics
• Hormones and related products
• Others

Animal Type:

• Livestock Animals
  • Ruminants
  • Swine
  • Poultry
• Equine

Route of Administration:

• Oral
• Parenteral
• Topical
• Others

Distribution Channel:

• Veterinary Hospitals
• Veterinary Clinics
• Pharmacies and Drug Stores
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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