However, regulatory challenges and incompatible information on bovine health can hamper the growth of the livestock health market.
This press release was originally distributed by SBWire
ROBERT, MD – (SBWIRE) – 26/01/2019 – The cattle market is generally fueled by rising consumption of beef, along with rising demand for animal protein. Bovines are most susceptible to a number of infections, including viral, bacterial and parasitic infections. Bovines also experience various turbulence from environmental factors such as high temperature and humidity. Another major factor affecting bovine health is mud as they are fed to farms that are prone to a high risk of health due to excessive muddy conditions that lead to animal health problems such as leg decay, scoure and etc. loss of cattle resulting in worsening conditions such as malnutrition and reproductive failure which ultimately affects the cattle population. Maintaining good bovine health is necessary as the livestock feed sector is hampered by poor animal health and also hinders the growth of the livestock health market. In developing countries, cattle used for agricultural purposes also affect production in the agricultural sector.
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Increasing R & D for livestock health is evidenced by the increase in livestock health costs. According to the Institute of Animal Health (AHI), AHI member companies spend about 10-12% of their sales for investment in new animal health innovations. Some of the other factors, such as the increase of government initiatives and the inclusion of insurance policies globally along with advances in technology, are also expected to stimulate the growth of the cattle market. Vaccination programs are the main tools to prevent disease and maintain livestock health by reducing mortality and improving productivity so that many livestock market participants focus on vaccination programs that are expected to increase the high share of incomes in the livestock market. However, regulatory challenges and incompatible information on bovine health can hamper the growth of the livestock health market. Delays in the testing and registration of new bovine products in the public sector are common in the world. Moreover, the lack of monitoring of falsified bovine drugs and misdiagnosis can lead to drug resistance in bovine animals as it affects the growth of the livestock health market.
Global livestock health: Market dynamics
The increasing attention to bovine health has increased to some of the measures that underpin the growth of cattle markets, as cattle are the main source of milk, beef and animal feed.
Technological innovations and developments in veterinary healthcare open up many opportunities in the market, leading to the key factor driving growth in the world livestock health market. The introduction of innovative products, such as herbal veterinary products, launched by Arosol Chemical Private Limited, which is used by blending with feed for cattle, has gained high requirements as they have no side effects and are easy to use, further generating revenue in the Global Cattle Health Market.
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Increase in veterinary hospitals and clinics are leading players in the livestock health market. The growing demand for dietary supplements and vitamins to increase bovine health and increase the production of bovine products is also in addition to the growth of the livestock health market. However, the lack of awareness of livestock services and products is the main obstacle to the growth of the livestock health market.
Global livestock health market: Overview
Bovine health is an important factor in our world, as animals are a major source of protein and dairy foods. The cattle market is also expected to grow due to growing concerns about food safety and quality as public health organizations' attention to animal health is increasing. The regulatory guidelines provided by the Managing Authorities are aimed at improving cattle-based food products. These factors are cumulatively responsible for feeding the livestock health market around the world. The number of retail channels increases for the supply of bovine health products and leads to greater competition among players on the livestock market. Some drugs and vaccines are only available in public hospitals and clinics to create animal awareness and disease prevention. Companies are making efforts to improve product quality by improving their R & D department. Such a company like Merck for Animal Health offers a wide range of pharmaceutical products for bovine health, and this factor is expected to stimulate growth in the livestock health market.
Global livestock health market: Regional Outlook
Based on geography, the world livestock health market is segmented in seven key regions, namely. North America, Latin America, Western Europe, Eastern Europe, the Asia Pacific region, excluding Japan, Japan and the Middle East and Africa. North America is expected to hold the largest share of world poultry market revenue, mainly as the United States is the world's largest beef producer and the second largest exporter of beef. The Asia-Pacific region is the fastest growing market with improved health infrastructure and increased R & D expenditure for the production of livestock health products. Europe, followed by Latin America, is expected to be the second dominant area in the world livestock health market.
Global livestock health market: key players
Some companies that offer livestock health products include Abaxis, Bayer Healthcare, Boehringer Ingelheim, Animal Health. Inc., Elanco, IDvet, Merck, Virbac and Zoetis Animal Healthcare, along with other market players.
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