ANIMAL HEALTHCARE MARKET ANALYSIS

Market News

Global Animal Healthcare Market: Key Developments

The increase in livestock is expected to drive the growth of the farm animal healthcare market going forward. For instance, according to a report published by the U.S.   Department of Agriculture in 2022, India's national herd of cattle increased from 1.2 million in 2021 to 306.7 million in 2022. Therefore, the growing livestock population will propel the farm animal healthcare market.

In 3^rd January  2023, one of the major global companies providing veterinary diagnostic and specialty products and solutions, Heska Corporation, acquired MBio Diagnostics, Inc. LightDeck Diagnostics to expand its research and development and manufacturing capabilities. The LightDeck's fully automated Longmont facility, which is expected to go online in 2023, will boost the manufacturing capacity and R&D efforts of Heska's Corporation in the future.

In May 2021, Cadila Healthcare’s wholly-owned material subsidiary Zydus  Animal Health and Investments (ZAHL) sold its animal healthcare business to a consortium led by Multiples Alternate Asset Management for nearly US$ 3.70 billion.

In April 2021, Hester Biosciences stated that it would begin developing research-based herbal products for poultry, cattle, sheep, goats, and swine.

Merck Animal Health bought Poultry Sense Limited in February 2021 boosting its poultry product range.

Merck Animal Health increased its animal vaccine production capacity by US$ 100 million in its Kansas manufacturing facility in July 2020.

In November 2022, A significant animal health pharmaceutical firm and the animal health biotechnology company Vetigenics announced a second discovery cooperation for utilizing the VETIGENICS CANIBODYTM Platform. The goal is to cooperatively identify and create new therapeutic antibodies to treat companion animal chronic illnesses. The all-canine, best-in-class phage display technology from Metagenics has specific benefits over other strategies. A patented process creates CANIBODIES, or Single chain variable fragments (scFvs), which are 100% canine in origin and structure since they are extracted from canine genetic material.

Global Animal Healthcare Market- Key Trends

In January 2020, Boehringer Ingelheim, a Germany-based pharmaceutical company, launched the VAXXITEK HVT+IBD+ND vaccine based on trojan horse vaccine technology to protect poultry from three types of diseases. This vaccine technology is similar to a trojan horse in that it protects against disease by employing a non-pathogenic substance as a vector to carry pathogen-protective genes VAXXITEK HVT+IBD+ND builds a solid immune foundation and provides enhanced protection against marek's disease, infectious bursal disease (classic and variant kinds), and newcastle disease.

In April 2020, Heska Corporation, a U.S.-based advanced veterinary diagnostic and specialty products company, acquired Scil Animal Care Company for US$ 110 million. Through this acquisition, Heska Corporation aimed to expand the company with veterinarians and point-of-care analyzers to serve companion animals. Scil Animal Care Company is a U.S.-based company that specializes in animal health laboratories and imaging diagnostic products and services.

The Organization for Economic Co-operation and Development (OECD) and United Nations Food and Agriculture Organization (FAO) estimate that livestock and fish production will increase 14% from 2020–2030.