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) is estimated to be valued at US$ 7.35 Billion in 2023 and is expected to exhibit a CAGR of 8.8% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Major players in the market are focused on adopting partnership strategies to enhance their market share. The adoption of distribution in the pharmaceutical products which helps in better workflow, accuracy, prevention, and diagnosis of the disease. For instance, in February 2020, Avivagen Inc., a developer of products for livestock, companion animal and human applications, partnered with INPHILCO, Inc. is an agricultural association in Quezon City, Philippines, for the distribution of OxC-betaTM livestock in in Philippines.
Global Poultry Pharmaceuticals Global Poultry Pharmaceuticals – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global poultry pharmaceuticals market. While the pandemic has increased public awareness about the importance of vaccines, it has also disrupted the supply chain for many vaccines, including polio and rabies. For instance, according to an article published by Multidisciplinary Digital Publishing Institute, in March 2022, COVID-19 severely impacted the poultry production sector. The impact was more severe in developing countries due to the dependency on exporting necessary supplies such as feed, vaccines, and drugs. Thus, trade limitations led to the economic crisis, which adversely impacted poultry industries, including the agricultural value chain, such as the livestock production sector. However, with the declining COVID-19 cases, there has been an increase in trade and agricultural production, leading to proper care and nutrition for the chickens, eventually rising the demand for poultry healthcare, thereby driving the growth of the market over the forecast period.
Global Poultry Pharmaceuticals Market: Key Developments
In January 2022, World Organisation for Animal Health, launched a call for tender to renew the suppliers of its Rabies Vaccine Bank after transparent and competitive procurement.
In December 2022, Providence Therapeutics Holdings Inc., a private biotechnology company in Canada, announced rabies post-exposure prophylactic was developed in partnership with Everest medicine, a clinical-stage biopharmaceutical company.
In May 2021, Elanco Animal Health Incorporated, a pharmaceutical company in U.S., launched ZoaShieldä in the U.S. which offers poultry producers a proven and flexible zoalene solution that keeps coccidiosis under control in an easy, manageable way.
In June 12, 2023, Merck Animal Health, a division of Merck & Co., Inc., announced that the European Commission has approved INNOVAX-ILT-IBD, a dual-construct HVT vaccine that provides long-term protection against infectious laryngotracheitis (ILT), infectious bursal disease (IBD) and Marek’s disease (MD). Following the centralized approval procedure, all European Union countries in which INNOVAX-ILT-IBD is licensed will update their national registrations.
Browse 36 Market Data Tables and 33 Figures spread through 180 Pages and in-depth TOC on “Global Poultry Pharmaceuticals Market”- Forecast to 2030, Global Poultry Pharmaceuticals Market, By Product Type (Drugs (VETRIMOXIN, Other Drug Products), Vaccines (INNOVAX, NOBILIS, Poulvac, Other Vaccine Products), 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)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/poultry-pharmaceuticals-market-3879
Key Takeaways of the Global Poultry Pharmaceuticals Market:
- The global poultry pharmaceuticals market is expected to exhibit a CAGR of 8.8%during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global poultry pharmaceuticals market. For instance, in June 2022, Ceva Santé Animal, an animal health company based in France, acquired the Canada-based oral rabies vaccine manufacturer Artemis Technologies, Inc. to expand its oral rabies vaccine portfolio.
- Among Product Type, the Vaccines segment is expected to grow in the global poultry pharmaceuticals market over the forecast period owing to the growing burden of polio and rabies related to the disease creating the need for diagnostics and vaccines, thus propels the growth of the market. For instance, in May 2022, Advisory Committee on Immunization Practices, a committee within the U.S. Centers for Disease Control and Prevention vaccine, recommended to private Companies use of modified preexposure prophylaxis vaccination schedule to prevent human rabies.
- Among region, North America is expected to be the dominant region in the global poultry pharmaceuticals market, owing to the increasing novel launch of new products by the key players.For instance, in October 2021, Cargill, Incorporated, a global food corporation based in U.S., launched poultry feed with essential oils, Nutrena Naturewise, for healthy flocks and maximized egg production. The improved Nutrena NatureWise formulas help in boosting the overall wellness, happiness, and productivity of backyard chickens.
- Major players operating in the global poultry Ppharmaceuticals market are Bayer AG, Bimeda, Ceva Sante Animale, Elanco Animal Health (Eli Lilly and Company), Merck Animal Health, Merial Animal Health (Sanofi), Virbac, Boehringer Ingelheim, Zoetis, Inc., Pacific GeneTech, and Avivagen Inc.
