Global poultry health market was valued at US$5.7 bn in 2016 and is expected to be worth US$11.0 bn by the end of 2025.
Albany, NY -- (SBWIRE) -- 01/12/2018 -- Poultry diseases refer to the arrival of bad health to the domesticated birds, which provide eggs, meat or feathers. The changing lifestyle and diets lead to increased demand for protein-rich meat food particularly the poultry products. This has given the global market for poultry health tremendous impetus in the past few years. The increasing uptake of animal products for the production of leather, meat, and other consumables has also led to an increased demand for treatments for poultry. To elaborate further on this rapidly growing market, a study titled "Poultry Health Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025" has been added to the massive archive of Market Research Hub (MRH). According to this research, the global poultry health market was valued at US$5.7 bn in 2016 and is expected to be worth US$11.0 bn by the end of 2025. During the forecast period of 7.6%, the global market is expected to register a CAGR of 7.6%.
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Major Insights from the study
In the initial section, the report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered in the scope of the study. Presently, rising government initiatives for vaccination programs in poultry farms drive the demand for poultry health products. Rise and awareness about diseases such as coccidiosis, avian influenza, which are a result of poor waste management and incorrect feed additives and environmental conditions have also favored market growth in the past few years. Owing to these causes, poultry health has gained central importance in farming.
In order to provide a comprehensive view of the global poultry health market, the report has been segmented on the basis of treatment, and region. The treatment segment includes therapeutic, diagnostics and genetics. Through the regional analysis, the research finds that the global market will be led by North America as this region is expected to exhibit a CAGR of 7.4% between 2017 and 2025. Also, technological development and innovation in vaccines and immense growth potential for the poultry health market in the Asia Pacific are the emerging driving factors which are expected to drive the growth of the market in the forecast period.
Demand for protein source, evolution of epizootic avian flu, greater emphasis on disease prevention and wellness by veterinarians and key players are some of the major factors propelling market growth of poultry health.
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Further, the research finds that the global poultry health market is highly competitive by the presence of several key players. Companies are expected to focus on expanding their distributorship in the near future to improve their revenue-earning prospects. At present, key players operating in the poultry health market which are Merck Animal Health, Ceva Sante Animale, Bayers AG, Merial Animal Health (Sanofi S.A. ), Zoetis Inc., Bimeda Inc., Elanco Animal Health (Eli Lilly and Company), and Virbac.
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