New York, March 31, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Poultry Healthcare Global Market Report 2023” – https://www.reportlinker.com/p06282427/?utm_source=GNW
, Eli Lilly and company, Bayer AG, Merial Animal Health, Indovax, Affini Tech Ltd., Bimeda Inc., and Indexx.
The global poultry healthcare market grew from $7.01 billion in 2022 to $7.73 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The poultry healthcare market is expected to grow to $11.8 billion in 2027 at a CAGR of 11.2%.
The poultry healthcare market includes revenues earned by entities by enhancing meat and egg productivity and avoiding rickets, rickets, and lameness.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Poultry healthcare refers to services that provide healthcare solutions for poultry, including eliminating sick birds, timely vaccinations, managing health care resources, and poultry management such as cleanliness, feeding and feed supply, housing, and others. Domesticated birds such as chickens, turkeys, ducks, geese, quails, and others are served by these services.
North America was the largest region in the poultry healthcare market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the poultry healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The poultry healthcare market covered in this report is segmented by product into vaccines, parasiticides, anti-infectives, and medical feed additives.Vaccines protect the welfare of farm animals by preventing or reducing the causes of disease, which in turn reduces the risk of the spread of the diseases.
The parasiticides target the infectious parasites by destroying them or inhibiting their growth.Anti-infectives are medicines that work to prevent or treat infections in livestock, which include antibacterials, antivirals, and antifungals.
A medical feed additive is a feed additive which is an additive of extra nutrients or drugs for livestock. The market is divided into tests, which include ELISA, PCR, molecular diagnostic tests, and laboratory tests.By application, the market is segmented into farm-based and house-based.
The increasing prevalence of disease outbreaks in poultry animals is expected to propel the growth of the poultry healthcare market.According to the World Organization for Animal Health, in November 2021, various subtypes of high pathogenicity avian influenza have been reported by more than 40 countries over the last six months.
Since May 1, 2021, outbreaks of high pathogenicity avian influenza (HPAI) have been confirmed in 41 countries in various regions in poultry and wild birds.Approximately 16,000 cases of HPAI in domestic and wild birds were reported in the month of October.
Therefore, the increasing prevalence of disease outbreaks is driving the growth of the poultry healthcare market.
Technological advancements are a key trend gaining popularity in the poultry healthcare market.These technological advancements include innovations in vaccines and other treatments.
For example, in October 2020, Boehringer Ingelheim, a Germany-based human, animal, and poultry healthcare company, launched a new poultry vaccine, VAXXITEK HVT+IBD.It is a single-shot, innovative recombinant vaccine, ensuring life-long protection for all types of production chickens, namely broiler, layer, and breeder.
The vaccine offers protection from infectious laryngotracheitis, Marek’s Disease, and Infectious Bursal Disease.
In August 2020, Merck Animal Health, a US-based manufacturer and developer of a high and broad range of veterinary medicines and other services, acquired IdentiGEN for an undisclosed amount.The acquisition is expected to strengthen Merck’s portfolio with an evidence-based animal traceability solution for livestock and aquaculture to accurately and precisely trace beef, seafood, pork, and poultry that is verifiable from farm to table while making sure of a sustainable supply of quality food in order to protect public health.
IdentiGEN is an Ireland-based poultry healthcare company that provides DNA-based solutions for producers, processors, and retailers of meat, poultry, and seafood products.
The countries covered in the Poultry Healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The poultry healthcare research report is one of a series of new reports that provides poultry healthcare statistics, including global market size, regional shares, competitors with poultry healthcare share, detailed poultry healthcare segments, market trends and opportunities, and any further data you may need to thrive in the poultry healthcare industry. This poultry healthcare research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06282427/?utm_source=GNW
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