CATTLE HEALTHCARE MARKET ANALYSIS

The global cattle healthcare market was valued at US$ 7,882.4 Mn in 2021 and is forecast to reach a value of US$ 12,041.3 Mn by 2028 at a CAGR of 6.2% between 2022 and 2028. The global cattle healthcare market is experiencing strong growth due to the growing focus on cattle health around the world and involvement of the government or favorable government initiatives. Moreover, rise in focus on the cattle healthcare and rise in demand for vaccination is expected to boost the market growth. However, regulatory challenges, high cost of animal testing, and lack of infrastructure and funding are major factors expected to hamper market growth.

Global Cattle Healthcare Market: Regional Insights

Based on geography, the global cattle healthcare market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increasing R&D expenditure in cattle health and initiatives by government in the region. For instance, cattle healthcare is an important part of animal husbandry, as productivity is dependent on health of cattle. In January 2019, Merck Animal Health announced the launch of its Cattle Care365 initiative to support cattle producers’ efforts to provide the best quality care for their animals. All programs are available at CattleCare365.com.

Europe and Asia Pacific is also expected to witness robust growth in the global cattle healthcare market due to the rising focus on the cattle healthcare and increasing R&D expenditure in the cattle health sector in these regions. For instance, many European and Asian countries are focusing more on the cattle health and implementing several initiatives for the same. In the UK, the Cattle Health and Welfare Group (CHAWG) plays a vital role in addressing relevant cattle health and welfare issues. CHAWG is focusing on improving the health and welfare of cattle.

Figure 1. Global Cattle Healthcare Market Share (%), by Region, 2021

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Global Cattle Healthcare Market Drivers:

Growing focus on cattle health around the world is expected to augment the growth of the global cattle healthcare market over the forecast period. For instance, cattle healthcare is one of the major aspects of animal husbandry as it has direct co-relation with productivity and outcome from animal farming. In December 2020, SeQuent Scientific Ltd. launched Citramox LA suspension injection for cattle and pigs in ten European countries, including the key markets of Western Europe. The product also received approval through the company's Spanish subsidiary Laboratorios Karizoo, S.A., SeQuent Scientific Ltd. said in a regulatory filing.

Involvement of the government or favorable government initiatives are expected to boost growth of the global cattle healthcare market during the forecast period. For instance, in August 2021, the Ministry of Science & Technology, the Government of India released IndiGau, India’s first Cattle Genomic Chip for the conservation of pure varieties of indigenous cattle breeds like Gir, Kankrej, Sahiwal, Ongole, and more. The chip is developed by the concerted efforts of scientists of National Institute of Animal Biotechnology (NAIB), Hyderabad, an autonomous institution under the aegis of the Department of Biotechnology.

Global Cattle Healthcare Market Opportunities:

Rise in incidence/prevalence of cattle disease, such as Lumpy, is expected to offer lucrative growth opportunities for players in the global cattle healthcare market. For instance, Lumpy skin disease (LSD) is a highly contagious viral disease of cattle and buffalo. According to latest data from the Government of India, Lumpy skin disease already infected over 2.4 million animals and has led to over 110,000 cattle deaths in India. The 2022 lumpy skin disease outbreak in India resulted in the death of over 97,000 cattle in three months between July and 23 September.

Increase in demand for cattle vaccination across the globe is expected to provide significant growth opportunities for players in the cattle healthcare market. For instance, with the rise in prevalence of cattle disease across the globe, the demand for safe and effective vaccination is also increasing with the rapid pace. In August 2022, the Department of Animal Husbandry, Chandigarh took all preventive measures to contain the disease in the city. Moreover, all types of assistance including free medicines for the treatment of their animals, and general awareness to check the spread of disease are being provided to Livestock owner’s at the doorstep.

Global Cattle Healthcare Market Trends:

Animal health is important due to the increasing demand for meat around the world and increasing awareness regarding the quality of meat and animal by-products. Thus, with the increase in burden of animal disease, the demand for animal healthcare is also increasing. Moreover, market players and governments are also focusing on improving both the health and welfare of cattle. This trend is expected to continue over the forecast period.

Furthermore, the demand for vaccination has increased or increasing due to increase in burden of animal diseases across the globe, such as Lumpy skin disease (viral disease of cattle). Vaccination is a critical component of cattle health management. Proper vaccination is critically important for the control of infectious diseases in both beef and dairy cattle. This trend is expected to continue over the forecast period, driving the growth of the market.

Global Cattle Healthcare Market Restraints:

Regulatory challenges and high cost of animal testing and veterinary services is expected to hinder growth of the global cattle healthcare market. For instance, some animal tests take months or years to conduct and analyze, at the cost of hundreds of thousands, sometimes millions of dollars per substance examined. Moreover, existing regulatory and registration processes are acting as a major constraint in the growth of the cattle healthcare market.

Lack of infrastructure and funding is expected to hamper the growth of the global cattle healthcare market. For instance, most developing countries have inadequate animal healthcare infrastructure, insufficient storage capacity (for drugs & vaccines), and poor connectivity as well as long distances between locations where veterinary services are required. This along with insufficient funding for cattle health is restraining the growth of the market.

Figure 2. Global Cattle Healthcare Market Share (%), by Product Type, 2021

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Global Cattle Healthcare Market Segmentation:

The global cattle healthcare market report is segmented into the Product, Diagnostic Type, and Geography.

Based on Product, the market is segmented into Vaccine, Parasiticide, Anti-infective, Medical Feed Additive, & Other Pharmaceuticals. Out of which, Vaccine Segment is expected to dominate the cattle healthcare market over the forecast period and this is attributed to the increase in demand for vaccination across the globe. Cattle vaccine is designed to protect the cattle from different kind of microorganisms such as bacteria, viruses, and protozoans.

Parasiticide Segment is also expected to witness significant growth in the near future and this is owing to the increase in demand for parasiticides. Parasiticides are often used in animal medicine to treat and prevent for various parasites, including fleas, ticks and worms.

Based on Diagnostic Type, the cattle healthcare market is segmented into Immunodiagnostic Test, Molecular Diagnostics, Diagnostic Imaging, Clinical Chemistry, and Other Veterinary Diagnostics. Out of which, Immunodiagnostic Test Segment is expected to dominate the market during the forecast period and this is attributed to the rise in prevalence of infectious diseases in cattle. Immunodiagnostic tests are used to diagnose such diseases.

Molecular Diagnostics Segment is also expected to witness significant growth in the near future and this is owing to the increase adoption of molecular diagnostics. Molecular diagnostic tests are faster and have more sensitivity, when compared to conventional tests.

Global Cattle Healthcare Market: Key Developments

In July 2020, Merck Animal Health ramped up its animal vaccine production capacity with a USD 100 million investment in its Kansas manufacturing site.

In July 2017, Bayer AG expanded its Animal Health Business investing around EUR 92 million for the further development of the production site in Kiel.

Global Cattle Healthcare Market: Key Companies Insights

The global cattle healthcare market is highly competitive. This is attributed to the rise in demand for vaccination due to increase burden of infectious diseases, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global cattle healthcare market are Idexx Laboratories, Boehringer Ingelheim, Virbac, Elanco, IDVet, Zoetis Inc., Bayer Healthcare, Merck & Co. Inc., and Ceva Animal Health Inc., among others.

*Definition: Cattle healthcare is one of the major aspects of animal husbandry as it has direct co-relation with productivity and outcome from animal husbandry. Several countries worldwide are focusing more on the cattle health to improve the health and welfare of cattle and implementing several initiatives for the same.