Global Farm Animal Drugs Market: Snapshot
Drugs occupy a key role in maintaining the health of farm animal drugs and in improving the economics for farm producers. The need for better productivity has become important more than ever for populations look for nutritious and disease-free food products. These pharmacologically active compounds have also helped prevent passing of diseases from animals to humans. Farm animals whose health has been considerably shaped by the use of drugs are ruminants, swine, equine, and poultry. Key product types in the farm animal drugs market are anti-infective, parasiticides, anasthetics, analgesics, and hormone related products.
However, the use of drugs in farm animals also poses a few risk factors, which is calling for their judicious use in food animals in various parts of the world. A case in point is the emergence of antibiotic-resistant microorganisms in animals. In developed countries, particularly in the U.S., the use of antibiotics has been banned-- continued efforts to antibiotic stewardship underscore the point. Several regulations have such trends into consideration, and have shaped the contours of the farm animal drugs market.
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Global Farm Animal Drugs Market: Growth Dynamics
Over the years, growing demand for fresh meat, especially due to their protein content, is a key factor driving the demand or farm animal drugs market. Growing awareness about common infections affecting food animals in Europe and Asia Pacific has reinforced the prospects considerably. The global farm animal drugs market is witnessing robust fillip from continuously expanding livestock in numerous countries of Asia and Europe. Growing awareness of the diagnosis and treatment of bird flu and avian influenza is boosting the market.
In several of the key markets, veterinarians have benefitted from growing investments of farm producers in anti-infective agents. The growing body of research in drug development has opened new approaches in disease prevention strategies.
The farm animal drugs market is witnessing new growth trajectories from mounting concerns for the ill-health effects of antibiotic resistance on humans. This has been a recurrent concern in animal agriculture for quite some time. Numerous publications, notably by the US Food and Drug Administration, have reiterated such concerns.
Growing use of drugs for managing pain in farm animals is also a significant factor propelling lucrative avenues in the market. Growing role of vaccines on livestock health is also opening new potential in the farm animal drugs market.
Global Farm Animal Drugs Market: Notable Developments
Over the past few years, the shift has moved from benefits of drugs on the health of farm animals to food safety concern when consumed by humans. To this end, the Food and Drug Administration agency is re-evaluating "zero-day" withdrawal and milk discard times for drugs used in food animals. Broadly, this will help them know how much time elapses between the intake of drugs and when they are milked or slaughtered. Specifically, this initiative will shed light on how farmers interpret drug labels such as zero-day milk discard time. The FDA authorities through this regulation can know how many times dairy cows are milked and the time it takes to transport them from livestock shelter to slaughter house. This is helping ensure residue concentrations in edible tissues or milk from farm animals that were given drugs can be safely consumed by humans.
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Such initiatives by regulatory agencies encourage favorable landscape for evolution of the arm animal drugs market.
Some of the key players in the farm animal drugs market are:
- Nippon Zenyaku Kogyo Co., Ltd
- Hester Biosciences
- Intas Animal Health
- Dechra Pharmaceuticals PLC
- Bayer AG
Global Farm Animal Drugs Market: Regional Analysis
Among the various key markets, North America is a prominent growth and is expected to rise at rapid pace from 2019 to 2027. A part of the growth comes from the presence of several key players in the U.S. and Canada. These players are intensively engaged in developing efficacious and safer farm animal drugs. The region has also been witnessing widespread uptake of anti-infective product.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.