ALBANY, New York, December 12, 2017 /PRNewswire/ --
Transparency Market Research observes that global poultry health market is highly fragmented due to strong presence of several players. The consistent entry of new players in the market is making the competitive landscape extremely tough for the existing companies. Some of the key players operating in the global market are Bayers AG, Merck Animal Health, Bimeda Inc., Zoetis Inc., and Ceva Sante Animale. Companies are expected to focus on expanding their distributorship in the near future to improve their revenue-earning prospects. Investments in research and development are also anticipated to help the companies stay ahead of the competition in the near future.
According to the publication, the global poultry health market is estimated to be worth US$11.0 bn by the end of 2025 rising up from US$5.7 bn in 2016. During the forecast period of 2016 and 2025, the global market is estimated to surge at a steady CAGR of 7.6%. The vaccination segment is expected to dominate the global market in the coming years due to high demand for these products to protect poultry from diseases and epidemics. In terms of geography, the global market will be led by North America as this region is expected to exhibit a CAGR of 7.4% between 2017 and 2025.
Consumption of Meat Ups Demand for Poultry Health Treatments
The growing emphasis of poultry in human food has given the global market tremendous impetus in the past few years. The increasing uptake of animal products for production of leather, meat, and other consumables has led to an increased demand for treatments for poultry. Rise and awareness about diseases such as coccidiosis, avian influenza, which are a result of poor waste management and incorrect feed additives and environmental conditions have also favored market growth in the past few years. Owing to these reasons, poultry health has gained crucial importance in farming. Vaccinations and feed additives help in keep roundworms and other nutritional deficiencies at bay. The report predicts that consistent addition of new products to the wide array of treatment products will lure in wider range of consumer base.
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Key driving factors such as rise in consumption of animal protein among human population, increase in epidemics of poultry diseases, demand for protein source, evolution of epizootic avian flu, greater emphasis on disease prevention and wellness by veterinarians and key players, and Government initiatives for vaccination programs in poultry farms that drives the demand for poultry health products. Also, technological development and innovation in vaccines and immense growth potential for the poultry health market in Asia Pacific are the emerging driving factors which is expected to drive the growth of the market in the forecast period. The growing poultry businesses are also expected to create several revenue-worthy opportunities for the global market.
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Depletion of Arable Land to Affect Production of Nutritional Additives
Despite the strong market drivers, the global poultry health market is likely to feel restrain due to some negative factors. Rising concern about the use of antibiotics and growth promoters in food animals and high cost of vaccination are hampering the growth of the market. Rapid depletion of arable land has gravely impacted the cultivation of feeds that are required for making feed additives and other nutritional foods. The growing competition in the global market is also likely to hamper the growth of the poultry health market in the near future.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research