IMARC Group, a leading market research company, has recently releases report titled “Cattle Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global cattle healthcare market share, size, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the cattle healthcare market?
|Market Size in 2022||US$ 8.42 Billion|
|Market Forecast in 2028||US$ 10.85 Billion|
|Growth rate (2023 to 2028)||CAGR of 4.15%|
|Base Year of the Analysis||2022|
What is cattle healthcare?
Cattle healthcare encompasses the management of all aspects of the physical and mental health of cattle to maintain their well-being and productivity. It includes diagnosis, prevention, and treatment of cattle health issues to ensure optimal health. It aims to provide a safe and clean environment, ensure optimal nutrition and growth, implement effective disease control measures, and prevent the spreading of diseases such as anthrax, tuberculosis, and rabies. It is also crucial to identify and treat potential health issues early by regular monitoring and evaluation of the health of the herds.
Effective cattle healthcare involves veterinary care, good management practices, and appropriate use of medications. It comprises parasite control, nutritional management, vaccination programs, and disease surveillance programs. Additionally, the implementation of proper cattle healthcare practices can improve productivity, enhance animal welfare, and promote sustainability in the livestock industry. As a result, cattle healthcare is widely adopted in veterinary hospitals and dairy farms across the globe.
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What are the growth prospects and trends in the cattle healthcare?
The market is primarily driven by the increasing occurrences of brucellosis, food-borne, and zoonotic diseases that emphasize the importance of animal health and disease control measures. In addition, cattle healthcare helps identify, prevents and treats diseases from the animals through vaccines and medications, thus contributing to the market growth. In line with this, the growing population and rising disposable income escalated the demand for animal protein, influencing the market growth. Moreover, the growing awareness among cattle producers regarding the significance of animal welfare and sustainability, especially with the exponential growth in the dairy industry, represents another major growth-inducing factor.
Additionally, the extensive investment in livestock production is raising the demand for cattle healthcare products and services. Besides this, numerous technological advancements, such as the development of new and innovative cattle healthcare products and services such as medicines, tests, and vaccines, are accelerating the product adoption rate. Along with this, numerous governments are taking initiatives to promote animal health and welfare, including disease surveillance programs, vaccination campaigns, and regulations, to ensure the safe use of veterinary drugs, thus propelling the market growth. Apart from this, cattle healthcare is growing at different rates in numerous regions, with North America being the largest cattle healthcare market due to the several technological advancements in veterinary medicine, growing demand for animal protein, and increasing awareness regarding animal welfare.
Moreover, the industry is expected to face competition in the forthcoming years as various key players are implementing competitive strategies to sustain their presence in the market. For instance, in July 2020, Merck Animal Health made a substantial investment of USD 100 million in its Kansas manufacturing site to expand its animal vaccine production capacity. Furthermore, the rising environmental concerns, several product launches, and mergers and acquisitions among key players are creating a positive market outlook. For instance, in July 2017, Bayer AG invested approximately EUR 92 million in expanding its Animal Health Business to develop its production site in Kiel.
What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
- Feed additives
End User Insights:
- Dairy farms
- Veterinary hospitals
Breakup by End Use Industry:
- Public Sector
- IT and Telecom
- Real Estate and Construction
Breakup by Geography:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Accruent (Fortive Corporation)
- ARCHIBUS Inc
- FSI (FM Solutions) Limited
- International Business Machines Corporation
- MRI Software LLC
- Oracle Corporation
- SAP SE
- Trimble Inc
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