Farm Animal Healthcare Market Size

Farm Animal Healthcare Market Analysis

The Farm Animal Healthcare Market size is estimated at USD 22.43 billion in 2024, and is expected to reach USD 28.80 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).

COVID-19 has impacted the growth of the farm animal healthcare market owing to the lockdown measures imposed by the government which led to the suspension of animal healthcare services. For instance, according to an article published in the Indian Journal of Animal Sciences, in July 2022, it has been observed that the pandemic has created a serious impact on the livestock sector owing to the lockdown on animal health services delivery including vaccination, coping practices, and financial loss to farmers in Karnataka, India. 

Also, as per an article published in Translational Animal Science, in December 2021, the COVID-19 pandemic caused supply chain disruptions that increased stress, uncertainty, and time-sensitive challenges for producers in maintaining animal care at Lowa, United States. However, with the released restrictions the companies have resumed their clinical activities as well as product developments which have increased the market growth. Thus, the market is expected to grow over the forecast period.

Factors such as advanced technology leading to innovations in animal healthcare, growing initiatives by government and animal welfare associations in different countries as well as the increased productivity at the risk of emerging zoonosis are expected to boost the market growth over the forecast period.

The increasing government initiatives to promote various programs and campaigns to vaccinate farm animals are also expected to fuel the market growth. For instance, in March 2022, the United States Ambassador announced the launch of a new five-year project to vaccinate cattle against bovine tuberculosis.

Additionally, the emerging chronic and infectious diseases among the farm animals raise the demand for effective therapeutics products which in turn is anticipated to increase the market growth over the forecast period. For instance, as per an article published in Health and Medicine, in February 2022, a novel Hendra virus, a virus that can cause acute lethal respiratory and/or neurologic indications in horses, was discovered in Sydney. This virus is thought to be the cause of the deadly disease in Australian horses and is a threat to human health. In addition, as per the same source, the second case of the variant was confirmed by the New South Wales Department of Primary Industries near Newcastle in October 2021.

Furthermore, the rising product launches related to farm animals increase the availability of vaccines, medicated feed, and other products in the market, hence, contributing to the growth of the farm animal healthcare market. For instance, in April 2022, Boehringer Ingelheim launched PREVEXXION RN+HVT+IBD and PREVEXXION RN vaccinations for Marek's disease, a very common disease of chickens caused by a herpes virus, in Europe, including the United Kingdom and Germany. 

Also, in April 2022, Amlan International launched two new natural alternatives to antibiotics for poultry and livestock, Phylox Feed and NeutraPath, that can reduce the negative health and production effects of enteric disease. This launch assists the company to expand its broad portfolio of animal health feed additives to include a natural alternative to anticoccidial drugs and vaccines and a natural pathogen control product for antibiotic-free production.

Therefore, owing to the aforementioned factors, the studied market is expected to grow over the forecast period. However, the use of counterfeit medicines and the increasing cost of animal testing and veterinary services are likely to impede the growth of the farm animal healthcare market over the forecast period.