The cattle health market is typically being fueled by the increasing beef consumption along with the rising demand for animal protein. Cattle are most prone to a number of infections including viral, bacterial and parasitic. Cattle also experience various shocks from environmental factors such as high heat and humidity. Another major factor impacting cattle health is mud, as they graze in farms they are prone to high health risk due to excessive muddy conditions leading to cattle health problems such as foot rot, scoure etc. Dietary deficiencies are the second common cause of weakness and weight loss in cattle leading to deteriorating conditions like malnutrition and also reproductive failure ultimately affecting the cattle population. Maintaining good cattle health is necessary as cattle food production sector gets hampered due to poor cattle health and also restrains the growth of Cattle Health Market. In developing countries cattle as used for farming purposes so it also affects the production in agricultural sector.
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Increase in research & development for cattle health is proven by the increase in the cattle health spending. According to the Animal Health Institute (AHI), AHI member companies spend about 10-12% of their sales for investment in new innovation in animal health. Some of the other factors such as, increasing initiatives by government and inclusion of insurance policies globally along with advancements in technology are also expected to drive the growth of the cattle heath market. Vaccination programs are the basic tools for preventing disease and maintaining cattle health by decreasing the death rate and improving productivity so many players in cattle health market are focusing on vaccination programs this factor is anticipated to increase high revenue shares in cattle health market. However regulatory challenges and incompatible cattle heath information may hinder the growth of the cattle health market. Delays in the public sector testing and registration process of new cattle heath products is common worldwide. Furthermore, the lack of monitoring for counterfeit medicines for cattle and improperly diagnosed diseases may result in drug resistance in cattle, there by affecting the growth of the cattle health market.
Global Cattle Health: Market Dynamics
Growing attention in cattle health care has raised to certain measures that are owning to growth in the cattle health markets as cattle are the major source of milk, beef, and animal-based food products.
Technological innovation and development in veterinary health care are opening numerous opportunity in the market leading to the key factor driving growth of Global Cattle Health market. Introduction of innovative products such as herbal veterinary products launched by Arosol chemical private limited company which is used by mixing in to the cattle feed has gained high demands as they have no side effects and are easy to use leading to further revenue generation in Global Cattle Health market.
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Increase veterinary hospitals and clinics are leading contributors in cattle health market. Growing demands of nutritional supplements and vitamins for boosting cattle health and increasing production of cattle based products is also a likely to supplement in the growth of cattle health market. However the lack of awareness about services and products with the animal caretakers are the major hindrance for growth in the cattle health market.
Global Cattle Health Market: Overview
Cattle health is important factor for our world as animal are major protein and diary food source. The cattle health market is also projected to grow due to rising concern about the safety and quality of food products as attention of government health care organizations on cattle health is growing. The regulatory guidelines provided by governing bodies are focused on improving cattle based food products. These factors are cumulatively responsible for fuelling cattle health market across globe. The number of retail channels are increasing for the supply of cattle health care products and leading to more competition amongst the players in cattle health market. Certain medications and vaccines are only available in government hospitals and clinics for creating awareness about cattle health and diseases prevention. Companies are putting efforts to improve the product quality by enhancing their R&D department. Such as Merck animal health care company offers a wide range of pharmaceutical product for cattle health this factor is expected to propel the growth of cattle health market.
Global Cattle Health Market: Region-wise Outlook
On the basis of geography, global Cattle Health market is segmented into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa. North America is projected to hold largest revenue shares in the global cattle health market primarily as U.S. is the world’s largest beef producer and second largest beef exporter. Asia Pacific is the fastest growing market owning to their enhanced healthcare infrastructure and increased R&D expenditure for manufacturing cattle health care products. Europe followed by Latin America is expected to be the second dominating region in global cattle health market worldwide.
Global Cattle Health Market: Key Players
Some of the companies that offer cattle health products include, Abaxis, Bayer Healthcare, Boehringer Ingelheim, Ceva Animal Health. Inc., Elanco, IDvet, Merck, Virbac, and Zoetis Animal Healthcare, amongst others players in market.
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Cattle Health Market Projections Highlight Positive Revenue Share during 2018-2028
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