Animal Hormone Therapy Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.52 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Animal Hormone Therapy Market Analysis
The animal hormone therapy market is expected to register a CAGR of 5.52% over the forecast period.
With the outbreak of COVID-19, the animal hormone therapy industry has faced both patterns. Initially, when the pandemic struck, with a rise in a sudden demand for meat, eggs, milk, and other animal food products, the industry faced a sudden spike in demand for growth promoters and performance enhancers. Since animal food processing is not such a process where human involvement and proximity are avoided with animals and humans, the units have to shut down amid the threat of spreading COVID-19. Thus, the market faced a demand reduction. However, the animal hormone used for therapeutic purposes for animals remained continuously in demand and supported the industry. Thus, COVID-19 is expected to show a considerable positive impact on the animal hormone therapy market.
The market growth is predominantly characterized by factors such as the growing burden of hormonal deficiency diseases in animals, rising demand for meat, and increasing animal husbandry. The growing burden of diseases in animals drives the market by focusing on hormones used in the treatment of hormonal deficiency diseases, neoplasia treatment, or replacement therapy. According to the BMC study journal published in November 2021, reproductive system tumors occupied the highest share (39.84%), followed by cutaneous tumors (28.05%), digestive tumors (18.70%), and ocular tumors (4.47%). Among the reproductive system tumors, breast tumors are the most common in female pet dogs, especially for Pekingese (11.43%). Similarly, according to the Pathogenesis of Endocrine Disease in Animals Article of April 2020, hyperthyroidism, Type I diabetes, primary hyperparathyroidism, and primary hyperadrenocorticism were the most common diseases in small animals that involved endocrine hypofunction. Animal hormones are used for fattening and production-boosting purposes in the animal food industry.
In June 2021, the US Department of Agriculture reported a decline in beef production over a year but a strong demand for broilers, turkey, and pork. Moreover, the rate of animal husbandry is increasing all over the world, which largely concerns animal hormone use for the better health of animals. According to the Report of National Agricultural Statistics Services, United States, in April 2021, broiler production in the United States has been increasing over the last five decades. Thus, concerning the above facts, the animal hormone market is expected to witness significant growth over the forecast period owing to the increase in animal breeding and the rise in animal care.
Although animal hormone therapy has wide applications, the risks associated with the use of animal hormones and the stringent regulatory norms associated with their use may hamper the growth of the animal hormone therapy market.
Animal Hormone Therapy Market Trends
This section covers the major market trends shaping the Animal Hormone Therapy Market according to our research experts:
Livestock Animal Segment is Expected to Witness Growth Over the Forecast Period
Hormones can be used as a supplement or to replace any particular deficient hormone in animals. Steroidal hormones such as androgens, estradiol, progesterone, and testosterone are anabolic hormones used for promoting growth, production, and breeding in animals. The steroidal hormones are either implanted in the ear or injected intramuscularly into the animals.
Livestock animals include cattle, swine, poultry, aquaculture species, etc. The response of hormones varies largely among animals. When the same concentration of estradiol is used in pigs and cattle to increase meat products, a significantly less increase in lean meat is seen compared to cattle. According to the OECD report published in 2021, globally, poultry meat is expected to represent 41% of all the protein from meat sources in 2030, an increase of 2% compared to the base period. Furthermore, in the United States, any feed ingredients and medicines administered to animals are regulated by the US FDA. According to the National Agricultural Statistics Service (NASS) report, the total number of cattle herds in the United States was 93.6 million in January 2021. In order to meet the rising demand for meat consumption, the demand for hormonal therapy is expected to grow in the future.
The IOP article published in September 2020 mentioned that progesterone and GnRH therapy also play a role in the reactivation of ovaries in cows in delayed and hostile cases. The report also mentioned that the response to treatment with nutritional improvement was significantly more than 1%. Thus, the uses of hormone therapy in livestock animals are expected to drive the demand for hormone therapy, thereby contributing to the growth of the segment over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America, along with Canada, the United States, and Mexico, has one of the best infrastructures in terms of animal healthcare facilities. With the focus on continuous research on animals and technologically advanced processes for animal product processing, North America is expected to dominate the market over the forecast period.
According to the February 2020 Report of the FCC Economics, the domestic demand for red meat in Canada remained robust in 2020; there was a significant rise in the price of beef by 3.5% and 0.7% in pork. A rise in demand for meat in the market accounts for more business, driving the demand for hormone therapy to increase the nutritional content in meat-producing animals, thereby contributing to the market's growth.
In June 2021, Poultry World Article reported that net egg production in Canada rose by 2.1% in 2020, accounting for a rise of about 3.9%. The increasing demand for nutritious and healthy animal-derived products directly boosts the demand for performance enhancers and health and growth-promoting feed and supplies. In June 2021, the US Department of Agriculture (USDA) announced an investment of about USD 55.2 million in mid-and small-sized poultry processors and producers to build capacity and increase economic opportunity for them across the country.
In April 2022, Bovine somatotrophin, an animal growth hormone, was approved by the FDA to increase milk production in dairy cows. Government authorities are taking steps to encourage the participation of different players and various hormone therapies across the world to make the North American market a preferable choice.
Thus, the above-mentioned factors are expected to drive the growth of the market during the forecast period.
Animal Hormone Therapy Industry Overview
The animal hormone therapy market is highly competitive, with several players across the world. In terms of market share, major players currently dominate the market. With the increasing burden of diseases and technological advancement in animal healthcare, many new players are expected to be part of the market over the forecast period. Some of the major players are Merck & Co. Inc., Boehringer Ingelheim, Elanco Inc., Virbac Group, and Vetoquinol SA.
Animal Hormone Therapy Market Leaders
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Boehringer Ingelheim
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Virbac Group
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Elanco Inc.
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Merck & Co. Inc.
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Soparfin SCA (Vetiquinol)
*Disclaimer: Major Players sorted in no particular order
Animal Hormone Therapy Market News
- September 2022: Merck Animal Health, known as MSD Animal Health, announced it had signed a definitive agreement to acquire Vence.
- March 2022: The Veterinary University Training and Research Center in Tripur District in Tamil Nadu launched a project for reducing the calving interval of Kangayam cows.
- July 2021: ADM launched the customized antibiotic reduction program developed by Wisium Reduction. This program centralized Wisium's de-medication solutions across all species, offering a holistic approach.
Animal Hormone Therapy Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Growing Burden of Hormonal Deficiency Diseases in Animals
- 4.2.2 Rising Demand For Meat
- 4.2.3 Increase in Animal Husbandry
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4.3 Market Restraints
- 4.3.1 Side Effects Associated With Use of Animal Hormones
- 4.3.2 Stringent Government Regulations Associated With Animal Hormones
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
-
5.1 By Application
- 5.1.1 Growth Promotors
- 5.1.2 Performance Enhancers
- 5.1.3 Other Applications
-
5.2 By Animals
- 5.2.1 Companion Animals
- 5.2.2 Livestock
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Merck & Co. Inc.
- 6.1.2 Zoetis Inc.
- 6.1.3 Elanco (Bayer Animal Health)
- 6.1.4 Boehringer Ingelheim
- 6.1.5 Bimeda Animal Health
- 6.1.6 Soparfin SCA (Vetiquinol)
- 6.1.7 Virbac Group
- 6.1.8 CEVA Sante Animale
- 6.1.9 HIPRA Animal Health
- 6.1.10 Syntex SA
- 6.1.11 Huvepharma
- 6.1.12 Jurox Pty Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAnimal Hormone Therapy Industry Segmentation
Hormones are the chemical messengers secreted in the bloodstream that coordinate with the nervous system and body organs of animals. Hormones are widely used in animals for therapeutic and physiological purposes, like for the treatment of hormonal deficiency diseases and to increase physiological activities that would enhance the production of food, milk, or growth. Animal hormones are also significantly used in hormone replacement therapy, neoplasia treatment, etc.
The animal hormone therapy market is segmented by application (growth promotors, performance enhancers, and other applications), animals (companion animals and livestock), and geography (North America, Europe, Asia Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
| By Application | Growth Promotors | |
| Performance Enhancers | ||
| Other Applications | ||
| By Animals | Companion Animals | |
| Livestock | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Animal Hormone Therapy Market Research FAQs
What is the current Animal Hormone Therapy Market size?
The Animal Hormone Therapy Market is projected to register a CAGR of 5.52% during the forecast period (2024-2029)
Who are the key players in Animal Hormone Therapy Market?
Boehringer Ingelheim , Virbac Group, Elanco Inc., Merck & Co. Inc. and Soparfin SCA (Vetiquinol) are the major companies operating in the Animal Hormone Therapy Market.
Which is the fastest growing region in Animal Hormone Therapy Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Animal Hormone Therapy Market?
In 2024, the North America accounts for the largest market share in Animal Hormone Therapy Market.
What years does this Animal Hormone Therapy Market cover?
The report covers the Animal Hormone Therapy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Animal Hormone Therapy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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