Poultry Drugs Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The global Poultry Drugs Market size is projected to grow at a CAGR of 10% during the forecast period from 2022 - 2030.
Poultry Drugs Market Overview:
Poultry drugs consist of vaccines, feed additive medicines, medicines such as anthelmintics, and specialty products used for reproduction, metabolism or infectious disease control.
Poultry Drugs market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Poultry Drugs market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
Significant Poultry Drugs Market Dynamics and Growth Factors:
Increasing consumption of chicken meat is expected to propel the growth of the global poultry drugs market over the forecast period. For example, a study presented at the 2018 Chicken Marketing Summit in Florida found that 86% of consumers surveyed in the United States over a two-week period ate chicken meal or snacks purchased from a supermarket and 68% from a restaurant.
Additionally, significant growth in the poultry segment is also expected to aid the market growth. For example, according to the 2019 American Poultry and Eggs Association, National Chicken Association, National Federation of Turkey Federation and United Egg Producers Report, the poultry sector generated $495.1 billion in economic activity and $38.5 billion in government revenue.
Low product exclusivity, generic competition and stringent regulations are expected to hamper the growth of the global poultry drugs market. The product exclusivity period is only 3 to 5 years in the animal drug industry. Shorter exclusivity periods intensify competition from generic and over-the-counter (OTC) products. In addition, stringent regulations for product approval and limited vaccine production hamper the market growth.
In addition, growing concerns about the use of antibiotics and growth promoters in poultry are expected to limit the market growth. Growth promoters include hormonal components and antibiotics widely used in food or meat producing animals such as poultry animals. There is strong evidence of negative effects of poultry antibiotics on humans, such as the induction of antimicrobial-resistant bacteria and disruption of the normal human gut flora.
The Poultry Drugs market research report is categorized based on type, applications and region.
Market Key Players:
Zoetis, Merck, Virbac, Boehringer Ingelheim, Elanco, Bayer Animal Health, Phibro Animal Health, Zydus, Ceva, and others.
- Anti-inflammatory Drugs
Geographically, the global Poultry Drugs market has been analysed in various regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).
The poultry drugs market in North America is expected to grow over the forecast period of 2021-2030. Growth in major poultry producing countries such as Mexico and Canada, rising production rates in various regions owing to rising demand for meat products are factors that propel the growth of this industry. In Latin America, the poultry drugs market is expected to grow at a significant rate during the forecast period. Growing population in the region has increased the demand for animal protein, which has further boosted the growth of agriculture-based industries including poultry breeding. As a result, veterinary drugs are increasingly being used by farmers to ensure healthier and more productive poultry. Europe is one of the leading poultry producers and accounts for a significant share of total world production. The European Union (EU) has been one of the largest markets for veterinary medicines used in animal husbandry, including carnivores, dairy cattle and farmed species such as fish. The Asia-Pacific poultry drugs market size is expected to grow. Increasing poultry population combined with changing consumer preferences, increasing demand for convenience foods, and increasing standardization are some of the major factors driving the growth of this market. Additionally, high prevalence of food-borne diseases in humans due to chicken consumption is another factor driving the market.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Poultry Drugs Market report scope
CAGR of 10% during the forecast period.
Parasiticides, Antibiotics, Anti-inflammatory Drugs
Turkey, Chicken, Goose, Duck
Zoetis, Merck, Virbac, Boehringer Ingelheim, Elanco, Bayer Animal Health, Phibro Animal Health, Zydus, Ceva
Regions and Countries Covered
2017 to 2022
2023 to 2030
- In January 2020, Boehringer Ingelheim's U.S. Animal Health Business launched a vaccine, VAXXITEK HVT+IBD+ND that offers protection against Marek's Disease, Infectious Bursal Disease (classic and variant types) and Newcastle Disease.
Key Takeaways from this Poultry Drugs Report
- Estimate Poultry Drugs market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Poultry Drugs market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions
At what CAGR is the Poultry Drugs market projected to grow in the forecast period 2022 to 2030?
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