SEATTLE, May 28, 2021, (MEDGADGET) – Global Poultry Pharmaceuticals Market Analysis
Pharmaceuticals for poultry consist of additive drugs for animal feed, vaccines and products specializing in the management of metabolic, infectious or reproductive diseases, and drugs such as parasiticides.
In 2019, the world poultry pharmaceuticals market was at an assessment of US $ 5,807.2 million and is expected to reach a market value of US $ 10,095.6 million by 2027.
The boom in chicken consumption is expected to drive the growth of the global poultry pharmaceuticals market during the forecast period. According to a study shown at the Chicken Marketing Summit 2018, in the state of Florida in the United States, in a two-week survey, about 86% of consumers had consumed a chicken snack or meal purchased from a supermarket, and about 68% had consumed the chicken meal from a point of service.
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In addition, the considerable growth of the poultry industry is expected to increase the growth of the global poultry pharmaceuticals market. According to the 2019 report from the National Turkey Federation and United Egg Producers, the US Poultry and Egg Association and the National Chicken Council, the poultry industry had a global activity of US $ 495.1 billion in the United States. United and generated approximately US $ 38.5 billion in profits.
In 2019, the vaccines segment occupied a leading position in the global poultry pharmaceuticals market, contributing around 40.7% market share, followed by the feed additives and drugs segments, respectively.
Strict regulations, less product exclusivity, and competition from generics are all expected to hamper the growth of the global poultry pharmaceutical market. Typically, the product exclusivity period is only 3-5 years in the animal health market. The shorter exclusivity period may lead to increased competition from OTC (over the counter) and generic products. In addition, low vaccine production and the imposition of strict regulations for product approval will restrain the growth of the global poultry pharmaceuticals market.
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In addition, growing concerns over the use of growth promoters and antibiotics in poultry are expected to hamper the growth of the global poultry pharmaceuticals market. Growth promoters are antibiotics and hormonal constituents that are commonly used to enhance the growth of poultry animals that produce meat or feed. With proven evidence, these poultry antibiotics can harm human health by disrupting the intestinal flora and inducing antimicrobial resistant bacteria.
Accelerating research and development in the field of poultry nutrition is expected to provide solid growth opportunities for companies operating in the global poultry pharmaceuticals market. In May 2020, researchers at the Veterinary Research Institute of the Czech Republic reported the use of the TGFβ3 gene as a potential genes maker for chicken growth.
In addition, the growing preference for poultry or pork to meet protein requirements is expected to drive the growth of the global poultry pharmaceutical market. According to the Philippine Statistics Authority, dressed chicken production increased by 40% over the period 2009-2018.
In 2019, the global poultry pharmaceuticals market had a valuation of US $ 5,337.8 million and is expected to reach a valuation of US $ 10,095.6 million by 2027 with a CAGR of 8.2% on the forecast period (2020-2027).
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Key points to remember
The increased propensity to invest in vaccines is stronger in backyard poultry in emerging countries. According to the study “ Drivers of vaccination preferences to protect a low-value cattle resource: Willingness to pay for Newcastle disease vaccines by smallholder families ” published in the Journal Vaccine, January 2019, in Tanzania, the willingness to pay the estimated salary was US $ 2.64 for the vaccination of ten chickens against Newcastle disease virus since the vaccine was protective for more than three months.
The SARS-CoV-2 virus outbreak has reduced the demand for poultry products and increased the demand for alternative plant-based meat products in various countries. Although the transmission of the virus is not scientifically proven to be related to poultry products, it has significantly affected sales.
The major companies contributing to the global poultry pharmaceuticals market are Boehringer Ingelheim, Zoetis, Inc., Merial Animal Health (Sanofi), Bayer AG, Ceva Sante Animale, Avivagen Inc, Pacific GeneTech, Bimeda, Virbac, Eli Lilly and Company (Elanco Animal Health) and Merck Animal Health.
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The focus of key market companies on adopting collaborative strategies to expand their market share. As of February 2020, livestock product supplier Avivagen, Inc., had partnered with INPHILCO, Inc., to supply OxC-betaTM cattle to the Philippines.
Focus of key market companies on launching new products to expand their product portfolio. In January 2020, the American animal health company of Boehringer Ingelheim launched the VAXXITEK HVT + IBD + ND, a vaccine that confers immunity against infectious bursal disease, Newcastle disease and Marek’s disease.
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