According to the latest report published by Acute Market Reports “Bovine Respiratory Disease Treatment Market - Growth, Future Prospects, and Competitive Analysis, 2023-2030,” the global bovine respiratory disease treatment market is expected to reach US$ 2,564.0 Mn by 2030, expanding at a CAGR of 7.2% from 2023 to 2030.
Browse the full report Bovine Respiratory Disease Treatment Market at https://www.acutemarketreports.com/report/bovine-respiratory-disease-treatment-market
Market Insights
Phenomenal rise in animal protein consumption in the global population is one of the most important factors that has resulted in growth in demand for bovine meat. Thus, in order to ensure healthy and disease free meat and better production capacities, rearing healthy cattle has become of vital importance to herders and farm owners. Significant rise in bovine disease epidemics and growth in cattle population has further aided in growing demand for bovine respiratory disease treatment. Growing awareness among consumers regarding healthy meat and animal health management practices and environment protection guidelines additionally contribute to market growth.
The trends in global bovine respiratory disease treatment market are expected to be majorly influenced by government regulations on veterinary drugs. High treatment costs for companion and meat animals is expected to restrain the market growth to a minor level during the forecast period. However, growing focus of drug manufacturers towards introducing more efficient drugs at competitive prices will open further avenues particularly in developing countries. Further proliferation of the processed meat market on the global front will additionally lead to growth in demand for healthy cattle is anticipated to grow demand for efficient and safe respiratory disease drugs through the forecast period.
Geographically, North America and Europe together occupy the largest revenue share in the global bovine respiratory treatment market. Maturity of veterinary healthcare market in North America and Western Europe significantly contribute to the dominance of these regions. Other factors contributing to the success of North America and Europe markets are existence of well-structured animal husbandry industry, and ready availability of most advanced veterinary healthcare services and drugs. Additionally, Asia Pacific is expected to be the fastest progressing market for bovine respiratory disease treatment. Rapid proliferation of animal husbandry and meat markets in the region and extensive use of cattle for agriculture purposes majorly drive the Asia Pacific market.
Overall competition in the global bovine respiratory disease treatment market is intense and it is anticipated that a similar competitive environment shall prevail through the forecast period. Constant introduction of novel drugs with higher efficacy forms the major focus area of the market players to maintain competitive edge in the market. Some of the notable players in the global bovine respiratory disease treatment market are Bayer AG, Boehringer Ingelheim GmbH, Bimeda, Ceva, Elanco, Merck & Co., Inc., Merial, Virbac Group, Vetoquinol and Zoetis Services LLC.
