Farm Animal Healthcare Markets - Worldwide Outlook to 2023: Expected to Register a CAGR of 8%

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Dublin, Dec. 07, 2018 (GLOBE NEWSWIRE) -- The report has been added to offering. The Global Farm Animal Healthcare Market is expected to register a CAGR of 8% during the forecast period 2018 to 2023.

There are diverse opportunities for the farm health sector to adopt new technologies. For example, data generated in veterinary clinics can be uploaded to the Internet, for sharing with other clinics and researchers. This can permit real-time analysis of changes in prevalence of diseases among the farm animals.

Also, real-time communication between veterinary doctors and owners about farm animal health issues using mobile online technology is an important growth area.

For example, veterinary doctors can send reminders to owners about the dates for vaccines or medication refills. Precision management systems can be used explicitly to improve farm animal welfare.

For instance, real-time automatic video monitoring of chicken houses can be used to detect zones of low or abnormal occupation, malfunctioning feed, and trigger an automatic alarm, alerting the owner.

Increasing initiatives by governments and animal welfare associations in different countries and increasing productivity at the risk of emerging Zoonosis are some of the other factors contributing to the growth of the market.

Today, animal welfare is no longer a niche issue of consumers, in the context of sustainability or organic and natural; it is becoming very familiar to an increasing number of mainstream consumers. Consumers are increasingly drawing connections between their own health and conditions in which animals are raised. Lack for transparent labelling can be witnessed for farm animal products.

For example in the European Union, there exists a system of labelling on animal welfare for only table eggs. The system for eggs is grounded on the European Union legislation for laying hens defined through various production methods such as free range, cages barn, etc.

Also, in Australia, the only animal product that is frequently labelled according to its production system is carton eggs. Inconsistencies in animal product labelling pressurizes producers whose products have compulsory labelling, and have to abide by labelling standards pertaining to the law.

For example ban of antibiotic in the European Union puts a pressure on the producers to produce antibiotic free animal product. Additionally, lack of infrastructure and funding, use of counterfeit medicines and increasing costs of animal testing and veterinary services are also restraining the Farm Animal Healthcare Market growth.

The global farm animal healthcare market is highly fragmented, although more than half of the market share is occupied by the top ten companies.

The leading players in the market are focused on business expansion, and are targeting emerging markets like Vietnam, Philippines etc., by either investing in new production unit, or acquiring established small players in the region.

Investment in the R&D activities to introduce new effective healthcare products is another strategy adopted by manufacturers to stay ahead of the competition in the matured markets of North America and Europe.

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Laura Wood, Senior Press Manager
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Related Topics: Animal Healthcare/Veterinary, Livestock

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Globe Newswire: 12:25 GMT Friday 7th December 2018

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