Albany, NY -- (SBWIRE) -- 09/12/2018 -- Global Poultry Health Market: Overview
Poultry animals are the domesticated birds that includes duck, chicken, turkeys, goose, quails and other birds kept by humans. Poultry industry is one of the fastest growing segment of the livestock animal. As the global population is rising the consumption of livestock animal product is also gradually increasing. The changing lifestyle and diets leads to increased demand for protein rich meat food particularly the poultry products. Poultry health market comprise vaccines, feed additive medication and drugs such as parasiticides, and specialized products used to manage reproductive, metabolic or infectious disease conditions. Poultry therapeutic products are used for the prevention and treatment of disease, disorder, and injury of poultry animals such as chickens, ducks, turkey, and geese.
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The market for poultry health (by treatment) have been broadly segmented into Therapeutics (Vaccines Feed Additives, Anti-Infectives Paraciticides, Others) Diagnostic (Test, ELISA, PCR, Others, Imaging) & Genetics. Increasing poultry animal population and poultry farmers concern for them is driving the demand for poultry vaccines. According to the research report published by Transparency Market 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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Demand for Vaccines to Remain High as Awareness about Animal Diseases Continues to Rise
Vaccine product segment & genetic test segment held the larger share of global poultry health market in coming years. Rising occurrence of new poultry diseases, which lead to loss of poultry animals, has increased demand for veterinary vaccines among poultry farm owners. Also increasing demand for protein rich food accompanied by rising demand for drugs to keep poultry animal's disease free. Hence, demand for vaccines is likely to increase to prevent zoonotic diseases. The new trend of administering medicines through feed additives is likely to boost the feed additives segment during the forecast period.
U.S. to Lead North America Poultry Health Market as Meat Consumption Rises
Geographically, global poultry health market has been divided into major five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2016, North America accounted the major share of global poultry health market followed by Asia Pacific, Europe, Latin America, and Middle East & Africa. The U.S. led the poultry health market in North America, as it accounted for the major share of the market. This supremacy is primarily due to increasing domestic production, consumption, and export of eggs and chicken meat. Also, growing number of diseases in poultry animal leads to significant economic loss to a country. For instance, salmonella infection costs over US$3.0 bn a year in the U.S. This is likely to increase demand for poultry treatment products in North America.
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However, Asia-Pacific is projected to witness the rapid growth during the forecast period with major impact of countries like China, India & Japan. Well-established poultry production and animal health industry, growing demand are the major factors that boosts the market in Asia-Pacific region. Latin America is also one of the rapidly growing market in poultry health market. For instance, the Ministry of Agriculture, Livestock and Supply (MAPA) is the competent regulatory authority in Brazil for veterinary products. The latter gives details of the regulation of veterinary products and manufacturing establishments or distributors.
The key players operating in the poultry health market are Bayer AG, Bimeda, Ceva Sante Animale, Elanco Animal Health (Eli Lilly and Company), Merck Animal Health, Merial Animal Health (Sanofi), Virbac, and Zoetis Inc.
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