Burlingame, Jan. 24, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global Cattle Healthcare Market is estimated to be valued at US$ 8,313.5 million in 2022 and is expected to exhibit a CAGR of 6.2% during the forecast period (2022-2030).
Analysts’ Views on Global Cattle Healthcare Market:
The cattle healthcare market's growth is expected to witness a significant growth owing to launch of awareness campaigns to improve cattle healthcare. For instance, in August 26, 2022, the GB Pant University Agriculture and technology (GBPUAT), Pantanagar, Uttarakhand, announced a campaign to bring awareness among the livestock breeders and owners amid the spread of Lumpy Skin Disease (LSD) in cattle in Uttarakhand.
Global Cattle Healthcare Market – Driver
Increasing number of product launches and approvals
In February 2022, DSM, a global health and nutrition company, announced that Bovaer, a feed additive, has been approved by the standing committee on Plant, Animals, Food, and Feed (scoPAFF), which is led by a representative from the European Commission. The purpose of this feed additive is to inhibit the enzyme that causes the generation of methane in the rumen of cows. The DSM claims that the supplement lowers enteric methane emissions by as much as 90% for beef cows and as little as 30% for dairy cows.
Global Cattle Healthcare Market – Restraint
The growth of the global cow healthcare market is anticipated to be hampered by regulatory difficulties and the high cost of veterinary services and animal testing. For instance, it might take months or years to conduct and evaluate some animal experiments, and each drug that is tested can cost hundreds of thousands or even millions of dollars.
Additionally, according to Irish Veterinary Journal, February 2022, the Veterinary Medicines Regulation was adopted by the European Parliament and the European Council in December 2018 and was applicable in all Member States, including Ireland, from 28 January 2022. The introduction of this Regulation may present difficulties for Ireland in the future. The Veterinary Medicines Regulation will result in specific prescribing modifications, most notably the obligation to switch from blanket to selective Dry cow therapy (DCT). Private veterinary practitioners (PVPs) and farmers will need to make a significant change from their current practices, as there have only been hesitant steps toward selective Dry cow therapy (DCT) up to this point, a concerning recent upward trend in national sales of European Medicines Agency (EMA) Category B intramammary antimicrobials (AMs) (3rd and 4th generation cephalosporins), and ongoing limited milk recording penetration across the national herd.
To overcome the restraint, Education will be essential for a successful transition. Moreover, it is crucial that PVPs exercise leadership by offering a holistic herd health approach to guide decisions regarding prescribing and mastitis management in the herds under their supervision.
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Key Trends and Analysis of the Global Cattle Healthcare Market:
Increasing government initiatives to launch vaccines for treating cattle is expected to drive the market growth over the forecast period. For instance, in August 2022, Government of India’s Agriculture and Farmers Welfare Ministry launched an indigenous vaccine, Lumpi-ProVac, to protect the livestock from Lumpy Skin disease. The vaccine was produced in partnership with the Indian Veterinary Research Institute, Izzatnagar, Bareilly, by the National Equine Research Center in Hisar, Haryana. Lumpy skin disease is a viral infection that affects cattle. The lumpy skin disease produces fever, nodules on the skin, and death, especially in animals that have never been exposed to the virus.
Global Cattle Healthcare Market Cross Sectional Analysis:
Vaccine segment is expected to be dominant in Asia Pacific region due to increasing number of approvals by regulatory authorities in Australia. For instance, in September 2022, The Government of New South Wales (NSW), Australia, announced the fast tracking of the world's first mRNA vaccines for Foot and Mouth Disease (FMD) and Lumpy Skin Disease, inking a partnership with US biotechnology company Tiba Biotech. The collaboration with Tiba Biotech, according to Minister for Agriculture Dugald Saunders, gives NSW another path to creating mRNA vaccines for FMD and Lumpy Skin Disease.
Recent Developments:
In September 2022, Royal DSM, a global purpose-led science-based company, announced the completion of its acquisition of Prodap, a leading animal nutrition and technology company in Brazil. Prodap is an animal nutrition and technology company that combines technology offerings, consulting services, and customized nutritional solutions to drive efficiency and sustainability in animal farming.
In August 2022, The Department of Animal Husbandry, Chandigarh Administration, India, announced assistance to livestock owners at their doorstep, including free medicines for the treatment of their animals, as well as general awareness to stop the spread of disease, in response to the rising number of cases of Lumpy Skin Disease in cattle. The department also launched a vaccination drive to immunize and vaccinate all of the healthy cattle in Chandigarh's villages and cowsheds.
In April 2022, Elanco Animal Health Inc., an animal health company announced a strategic partnership with Royal DSM, a health, nutrition and biosciences company for Bovaer, a methane-reducing feed additive for cattle. Under the partnership, Royal DSM will receive royalty income from Elanco’s U.S. Bovaer sales, including a single-digit millions upfront payment, as well a portion of product supply from Elanco.
In February 2020, FORTE Healthcare Limited, an animal healthcare company, announced the launch of PROCAPEN Injector 3g Intramammary Suspension for Cattle, a new prescription intramammary for the treatment of udder infections in lactating cows. PROCAPEN is a narrow-spectrum antibiotic that targets the most relevant pathogens in new cases of cow mastitis.
Key Market Takeaways:
The Global Cattle Healthcare Market is expected to exhibit a CAGR of 6.2% during the forecast period, owing to increasing acquisitions between key players in the market for cattle treatment. For instance, in September 2022, Zoetis Inc., an animal health company, announced the completion of its acquisition of Jurox, a privately held animal health company that develops, manufactures, and markets a comprehensive range of veterinary medicines such as parasiticides, anti-infectives, and anesthetics for treating livestock and companion animals.
Among Product, Vaccine segment is dominant in 2022 due to the increase in the launch of vaccines to prevent the cattle diseases which is expected to drive the segment growth over the forecast period. For instance, in September 2022, Boehringer Ingelheim, a pharmaceutical company with focus on human and animal healthcare, launched a vaccine for the prevention of calf diarrhea, or calf scour (Fencovis), which provided calves with passive immunity via maternal colostrum. Calf scour, which affects unweaned (not accustomed to food other than its mother's milk) newborn calves, is a symptom of a variety of gastrointestinal illnesses with infectious and non-infectious causes.
On the basis of Diagnostic Type, Immunodiagnostic Test segment is expected to hold dominant position over the forecast period. Increasing prevalence of illness, such as mastitis is expected to drive the growth of the segment over the forecast period. For instance, according to Dovepress journal, in June 2021, a study was conducted in Ethiopia by School of Veterinary Medicine which revealed that subclinical mastitis (71.02%) in cows was more prevalent in dairy farms of the study area than in the clinical type (28.9%). The quarter-level frequency was 36.9%; from which, 34.9% and 3.4% were from the subclinical form and blind teat respectively.
Competitive Landscape:
Key players operating in the global cattle healthcare market include Idexx Laboratories, Boehringer Ingelheim, Virbac, Elanco, IDVet, Zoetis Inc., Bayer Healthcare, Merck & Co. Inc., and Ceva Animal Health Inc., among others
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Market Segmentation:
- Global Cattle Healthcare Market By Product:
- Vaccine
- Parasiticide
- Anti-infective
- Medical Feed Additive
- Other Pharmaceuticals
- Global Cattle Healthcare Market By Diagnostic Type:
- Immunodiagnostic Test
- Molecular Diagnostics
- Diagnostic Imaging
- Clinical Chemistry
- Other Veterinary Diagnostics
- Global Cattle Healthcare Market By Geography:
-
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
Related Market Intelligence Reports:
Veterinary Healthcare Market, By Product (Therapeutics and Diagnostics), By Animal Type (Dogs and Cats, Horses, Ruminants, Swine, Poultry, and Other Animals), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2028
Europe Animal Healthcare Market, by Animal Type (Livestock {Bovine, Porcine, Poultry, and Other} and Companion {Canine, Feline, and Equine}), by Route of Administration (Oral, Topical, and Injectable {Subcutaneous Injections, Intramuscular Injections, Intravenous Injections, Intra-peritoneal Injections, and Others}), by Indication (Infectious Diseases, Pain, Auto-immune Disease, and Others), and by Country (Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
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