Poultry animals refers to domesticated birds such as goose, quails, chicken, turkeys, duck, and various other birds that are kept by people. In the livestock industry, the segment of poultry is considered to be a rapidly growing one. Consumption of livestock products is forecasted to rise in accordance with population explosion. The ever changing food habits and lifestyle of people has resulted in the need to consume more protein rich poultry products. Feed additive medicines, vaccines, drugs like parasiticide comprise poultry health. These products are used to take care of metabolic and reproductive health of the poultry. It also helps in the prevention and treatment infectious diseases. Therapeutic poultry products are used to treat and prevent injury, disorders and diseases amongst poultry animals like geese, turkey, ducks and chickens.
Transparency Market Research noticed that the world poultry health market is quite a fragmented one and is marked with the presence of many players. New players enter the market on a regular basis thereby making the vendor landscape quite competitive for the already existing players. Ceva Sante Animale, Merck Animal Health, Bimeda Inc., Zoetis Inc., and Bayers AG are some of the topnotch companies that are operating in this market. These eminent players are forecasted to emphasize on the expansion of their distributorship so as to better their opportunity of earning revenue. It is also forecasted that investment in research and development work by the companies can help them gain upperhand in this highly competitive market.
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It is expected that the world market for poultry health is calculated to be valued US$11.0 bn towards the end of 2025 from an earlier valuation of US$5.7 bn in the year 2016. Over the period of forecast, the world market for poultry health is forecasted to soar at a robust CAGR of 7.6%.
North America to Lead the Market with its Increased Production and Consumption
Taking geographical segmentations into consideration, world market for poultry health is being divided into five main regional zones, namely, Middle East and Africa, Latin America, Europe and Asia Pacific. In the year 2016, most of the market share for poultry health was held by North America and it was followed by Asia Pacific, Europe, Latin America, and Middle East & Africa in terms of market value. North America is forecasted to continue with its regional dominance throughout the period of forecast and is estimated to exhibit a CAGR of 7.4% during the forecast timeframe.. Reasons for this regional dominance are soaring domestic consumption and production. There is also augmented export of poultry products such as meat and eggs. This supremacy is primarily due to increasing domestic production, consumption, and export of eggs and chicken meat. For example, infection of salmonella was estimated to cost around US$3.0 bn in a year in the United States. This has resulted in augmented demand for treatment for poultry products in North America.
In the meantime, the region of Asia-Pacific is expected to experience rapid growth over the timeframe of forecast that extends from 2017 to 2025. Nations like Japan, India and China are forecasted to impact the market positively. Already set up industry of animal health and poultry production, increasing demand are some of the primary elements that are estimated to boost the said market in the region. Latin America also has a rapidly growing market for poultry health.
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The Segment of Orthopedics to Fuel Market Growth
The category of genetic test and vaccine product is estimated to account for a very large share of world market for poultry health in the years to come. Growing prevalence and incidences of new poultry outbreaks that result in the loss of poultry animals like chicken, geese, turkeys etc. call for veterinary vaccinations of poultry animals amongst poultry farmers. Burgeoning demand for protein rich food such as meat together with soaring requirement of drugs that keeps the poultry animals free of diseases are fuelling the market. Furthermore, the emerging trend of giving medicines through feed additives is likely to gain traction during the period of forecast. The category of vaccination is estimated to rule the world market for poultry health in the forthcoming years owing to soaring demand of these products so as to prevent poultry outbreaks.
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