CATTLE HEALTHCARE MARKET ANALYSIS

Market Challenges And Opportunities

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 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.