Poultry Pharmaceuticals Market, By Product Type (Drugs (VETRIMOXIN, Other Drug Products), Vaccines (INNOVAX, NOBILIS, Poulvac, Other Vaccine Products), and Feed Additives (VIGOSINE, Amnovit, Other Feed Additives)), By Animal Type (Chicken, Turkey, Duck, Goose, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Jun 2023

Code : CMI3879

Pages :180

Formats :

Excel and PDF

Industry : Pharmaceutical

Market Challenges And Opportunities

Global Poultry Pharmaceuticals Market- Driver

Increasing consumption of chicken

Increasing consumption of chicken is expected to propel growth of the global poultry pharmaceuticals market over the forecast period. Poultry involves raising of birds like ducks, turkeys, chickens and geese for their eggs and meat at domestic or commercial level. Over the decades, the Global poultry pharmaceuticals market has undergone significant transformation, and the region has emerged as one of the major sectors of the economy. For instance,in July 2021, according to research presented at the 2021 Chicken Marketing Summit, Florida, U.S., 98% of consumers during a two week survey in the U.S. ate a chicken meal or snack purchased from a supermarket and 68% ate a chicken meal or snack from a food service establishment.

Significant growth of the poultry sector

Significant growth of the poultry sector is also expected to aid in growth of the market. For instance, according to a report in November 2022, by the U.S. Poultry and Egg Association, National Chicken Council, National Turkey Federation and United Egg Producers, the study breaks down poultry into three subcategories: chicken, turkey and eggs. The chicken industry provides 1,517,797 jobs, US$ 94.9 billion in wages, US $417 billion in economic activity and US$ 25.5 billion in government revenue repectively.

Global Poultry Pharmaceuticals Market: Restraint

Product recall by regulatory bodies

Product recall by regulatory bodies is expected to hamper the growth of the global inactivated vaccines market. Low product exclusivity, generic competition, and stringent regulations are expected to hinder growth of the global poultry pharmaceuticals market. For instance, In June 2021, Manna Pro Products LLC manufactures and markets animal feed products Issued Limited Voluntary Recall of Flock Party Quack Snacks Sold in the United States Because of Possible Health Risk Due to Potential Salmonella Contamination.