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Livestock Pharmaceuticals Market Share, Statistics 2028

11.24.2022 · Posted in Writing and Speaking

The global livestock pharmaceuticals market size was valued at USD 18.2 billion in 2021, growing at a CAGR of 7.8% during the forecast period 2022-2028. Apart from poultry, animal livestock refers to farmed ruminants and domestication of animals. Cattle, sheep, pigs, goats, horses, donkeys, and other animals belong to this category, which may predominate in another places’ agriculture. Cattle (genus bos) are the most common livestock species on the planet. Sheep (genus ovis) were one of the first domesticated animals. The worldwide animal livestock pharmaceuticals market, on the other hand, will be driven by rising demand for pesticide-free meals. Furthermore, an increase in demand for livestock products, as well as attempts to stimulate the development of rare breeds, are driving the expansion of the animal livestock pharmaceuticals industry. However, a lack of understanding and the need for a large amount of money and labor could stymie the worldwide animal livestock pharmaceuticals industry.
 
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The growing prevalence of chronic diseases between animals, animal production implementation, and a rise in drug choices by pet and poultry farming community, combined with continued global population growth, leading to higher demand for meat and animal-based product offerings, are the factors driving the growth of the livestock pharmaceuticals market. Zoonotic infections are quite widespread in the United States and around the globe, according to the Centers for Disease Control and Prevention. Animals are thought to be the source of more than 7 out of every 10 recognized infectious diseases in humans, as well as more than 4 out of every 5 novel or extremely contagious diseases in humans.

The global livestock pharmaceuticals market segmentation:
 1) By Product: Anti-infectives/ Antibiotics, Parasiticides, Reproduction Management, Vaccines, Others. 
 2) Animal: Cattle, Sheep, Goats, Swine, Horses, Others.

3) Distribution Channel: Veterinary Hospitals, veterinary Pharmacies, Others.

Due to the obvious existence of significant product manufacturers, high research and development, and healthcare spending, as well as experienced personnel, North America has the greatest market share. Because of the rising animal domestication, Europe is the largest market for livestock pharmaceuticals. Due to growing government awareness initiatives and the availability of generic pharmaceuticals, the animal livestock drugs market in Asia-Pacific is predicted to develop at the fastest rate in the future years.
 
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 Some of the major players working in livestock pharmaceuticals market, include Merck Animal Health (U.S.), Zoetis Inc. (Pfizer) (U.S.), Boehringer Ingelheim (Germany), Ceva Animal Health (France), Bayer Animal Health (Germany), Virbac Inc. (France), Elanco Animal Health (U.S.), Eco Animal Health (U.K.), Heska Corporation (U.S.)
 
 
Related Report:
http://www.emailwire.com/release/1141067-Pharmaceutical-Excipients-Market-Growing-Demand-Opportunities-Forecast-2022-to-2028.html 

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