The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, June 21, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Livestock Healthcare Market Report 2023, the market will grow from $39.8 billion in 2022 to $43.0 billion in 2023, at a compound annual growth rate (CAGR) of more than 7%. Further, the market will reach $57.1 billion by 2027, exhibiting a CAGR of more than 7%. North America was the largest region in the livestock healthcare market in 2022.

One of the key factors driving the growth of the livestock healthcare industry is the increasing prevalence of food-borne and zoonotic diseases. Foodborne diseases result from the consumption of contaminated food or water containing pathogenic microorganisms such as bacteria, parasites, and viruses. Zoonotic diseases, on the other hand, are illnesses that can be transmitted between animals and humans. To combat these diseases, livestock healthcare products play a crucial role in detecting, preventing, and treating them through the use of vaccines and medications.

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Major livestock healthcare companies are Ceva Santé Animale, Virbac SA, Vetoquinol SA, Boehringer Ingelheim International GmbH, Bayer Healthcare AG, Elanco Animal Health Incorporated, Hester Biosciences Limited, Merck & Co Inc., Phibro Animal Health Corporation, Zoetis Inc., Intas Pharmaceuticals Ltd., Norbrook Laboratories Ltd., Alivira Animal Health Limited, and IDEXX Laboratories Inc.

Technological innovation represents a key trend in the livestock healthcare market. Key companies operating in this sector are actively engaged in developing novel technological solutions to enhance their market presence.

For instance, in July 2022, Merck Animal Health introduced "Whisper on Arrival," a groundbreaking technology that revolutionizes decision-making for cattle management. This innovative solution incorporates specialized sound-gathering equipment and a predictive algorithm to analyze animal vital signs such as breathing, heartbeat, weight, and rectal temperature. By providing valuable information to feedlot managers and veterinarians, it enables proactive measures to address bovine respiratory disease (BRD) and identify cattle more susceptible to illness.

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The global livestock healthcare market is segmented as-

1) By Product Type: Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, Other Types

2) By Livestock Animal: Poultry, Swine, Cattle, Sheep And Goats, Horse, Other Animals

3) By End User: Reference Laboratories, Point-of-care Testing or In-house Testing, Veterinary Hospitals and Clinics, Other Users

The significance of livestock healthcare market report lies in its ability to shed light on the growing importance of livestock healthcare in the face of increasing prevalence of food-borne and zoonotic diseases. With the rise in cases of illnesses and deaths resulting from zoonoses, the demand for livestock healthcare products has surged, creating significant market prospects. The report serves as a valuable resource for stakeholders seeking to understand the current and future trends, challenges, and opportunities within the livestock healthcare market. By offering a holistic view of the market, it equips decision-makers with the necessary insights to navigate the evolving landscape and capitalize on the potential growth of this vital industry.

Livestock Healthcare Global Market Report 2023 by The Business Research Company provides insights on the livestock healthcare market size, livestock healthcare market segments, livestock healthcare market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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