Market Size of Cattle Health Industry
Study Period | 2021 - 2029 |
Market Size (2024) | USD 8.43 Billion |
Market Size (2029) | USD 11.11 Billion |
CAGR (2024 - 2029) | 5.67 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Cattle Health Market Analysis
The Cattle Health Market size is estimated at USD 8.43 billion in 2024, and is expected to reach USD 11.11 billion by 2029, growing at a CAGR of 5.67% during the forecast period (2024-2029).
- The emergence of the COVID-19 pandemic has had an impact on the cattle health market as it affected the pharmaceutical supply chain, and several diagnostic and treatment procedures were affected due to the lockdown restrictions imposed by various countries around the world. Hence the demand for cattle healthcare products was reduced. For example, as per the 2021 report by Zoetis Inc., due to COVID-19, the need for their products was reduced, which negatively affected their business. Hence, COVID-19 negatively affected the market during the pandemic. However, with the reduction in COVID-19 cases, the reopening of global economies, and the resumption of trade in veterinary products and services, the cattle health market is expected to recover from the impact of COVID-19 in the next two-three years.
- The market for cattle health is being driven by factors such as increasing R&D expenditure in the cattle health sector, the rising burden of cattle disease, and increasing initiatives by government and animal welfare associations. For instance, the IntechOpen Journal article published in November 2021 reported that mastitis is an inflammation of the mammary gland in which pain persists in both or one mammary gland and is a prevalent disease in the bovines. It also reported that in India, in buffaloes from rural and urban dairy farmers, there was nearly an 18.74% prevalence of clinical mastiti in buffaloes from rural and urban dairy farmers. Thus, such a high incidence of such diseases is expected to increase the consumption of drugs and the usage of medical devices for cattle health and thus, increasing the cattle health market growth over the forecast period.
- Furthermore, the increasing value and volume of animal product and rising demand is expected to increase the production of animal products. For instance, India and the United States are becoming significant hubs for livestock and poultry production, which is also acting as a major factor for market growth. For instance, according to an article published by Koala Guide LLC in June 2021, India, the United States, Pakistan, China, and Brazil are the five largest producers of milk. India, the United States, and Pakistan account for about 40% of the total milk production in the world. Thus, increasing productivity is expected to increase market growth in the future. Furthermore, product launches are another factor in market growth as new and innovative products provide better treatment for cattle which increases their adoption and thus increases market growth. For instance, in August 2022, two institutes of the Indian Council of Agricultural Research (ICAR) developed a vaccine for lumpy skin disease, which is spreading in India. Thus, the abovementioned factors are expected to fuel growth in the cattle health market over the forecast period. However, the lack of infrastructure and funding, coupled with the increasing costs of animal testing and veterinary service, are expected to hinder the market growth.
Cattle Health Industry Segmentation
As per the scope of the report, cattle healthcare includes the products that are used for the treatment and diagnosis of cattle against various medical conditions and diseases.
The Cattle Health Market is segmented by product type (by therapeutics (vaccine, parasiticide, anti-infective, medical feed additive, and other therapeutics) and by diagnostics (immunodiagnostic test, molecular diagnostics, diagnostic imaging, clinical chemistry, and other diagnostics), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
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Cattle Health Market Size Summary
The cattle healthcare market is poised for significant growth over the forecast period, driven by increasing research and development investments, a rising burden of cattle diseases, and proactive initiatives by government and animal welfare organizations. The market experienced a temporary setback due to the COVID-19 pandemic, which disrupted pharmaceutical supply chains and reduced demand for healthcare products. However, as global economies reopen and trade in veterinary products resumes, the market is expected to recover. The prevalence of diseases such as mastitis in bovines is anticipated to boost the consumption of drugs and medical devices, further propelling market expansion. Additionally, the growing demand for animal products, particularly in countries like India and the United States, is expected to enhance livestock production, contributing to market growth.
Technological advancements and product innovations are also key factors driving the cattle healthcare market. The introduction of new diagnostic imaging technologies and veterinary products, such as the VXR Veterinary X-Ray Room and the open-bore CT scanner by Xoran Technologies, are expected to improve diagnostic capabilities and treatment options for cattle. The import and export of cattle, particularly between Mexico and the United States, necessitate robust diagnostic and vaccination protocols, further supporting market growth. The market is moderately competitive, with major players like Zoetis Inc., Boehringer Ingelheim, and Elanco Animal Health leading the industry. Strategic collaborations and product launches, such as the development of a vaccine for lumpy skin disease in India, are expected to drive further growth in the cattle healthcare sector.
Cattle Health Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing R&D Expenditure in the Cattle Health Sector
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1.2.2 Rising Burden of Cattle Diseases
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1.2.3 Increasing Initiatives by Government and Animal Welfare Associations
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1.3 Market Restraints
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1.3.1 Lack of Infrastructure and Funding
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1.3.2 Increasing Costs of Animal Testing and Veterinary Services
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 By Therapeutics
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2.1.1.1 Vaccine
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2.1.1.2 Parasiticide
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2.1.1.3 Anti-infective
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2.1.1.4 Medical Feed Additive
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2.1.1.5 Other Therapeutics
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2.1.2 By Diagnostics
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2.1.2.1 Immunodiagnostic Test
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2.1.2.2 Molecular Diagnostics
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2.1.2.3 Diagnostic Imaging
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2.1.2.4 Clinical Chemistry
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2.1.2.5 Other Diagnostics
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle East and Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle East and Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Cattle Health Market Size FAQs
How big is the Cattle Health Market?
The Cattle Health Market size is expected to reach USD 8.43 billion in 2024 and grow at a CAGR of 5.67% to reach USD 11.11 billion by 2029.
What is the current Cattle Health Market size?
In 2024, the Cattle Health Market size is expected to reach USD 8.43 billion.