The increasing adoption of animal farming for higher revenues & productivity and budding emphasis on cattle health are expect to contribute significantly to the global cattle healthcare market during the forecast period. According to TB Epidemiology Report 2017 published by Animal and Plant Health Agency, UK, the number of cows affected by bovine tuberculosis grew from 3,753 in 2016 to 3,816 in 2017, which accounted for an estimated 1.7% of growth as compared to the previous year.
The report provides an elaborative study on the cattle healthcare industry and offers coherent information in regards to the global cattle healthcare market. The report also focuses on the growth factors and restricting agents in the cattle healthcare market size.
Introduction Of PRRS Vaccine By Elanco Animal Health Will Propel Growth
Elanco Animal Health, a division of Eli Lilly and Company announced the launch of Prevalent® PRRS after receiving the license from the United States Department of Agriculture (USDA). PRRS Vaccine is a modified-live respiratory vaccine that has been shown to be effective in the reduction of porcine reproductive and respiratory syndrome (PRRS), respiratory form, in piglets two weeks or older.
The launch of the new vaccine is expect to boost the global cattle healthcare market revenue. Furthermore, the agreement with Ab E discovery for new technology is also expect to aid growth of the global cattle healthcare market. For instance, Elanco announced global agreement with Ab E discovery for new technology.
Rising Cases Of Chronic Diseases Among Cattles Will Enable Growth
The increasing prevalence of chronic diseases and rising adoption of animal farming for higher revenues & productivity, and budding emphasis on cattle health are factors likely to favor growth of the global cattle healthcare market.
In addition, The launch of Bovalto Respi Intranasal is expected to contribute positively to the global cattle healthcare market. For instance, Boehringer Ingelheim launched Bovalto Respi Intranasal is a new respiratory vaccine for active immunization of cattle against the viruses Parainfluenza 3 Virus (PI3V) and Bovine Respiratory Syncytial Virus (BRSV).
Growing Animal Healthcare Expenditure Will Accelerate Growth In North America
North America dominated the global cattle healthcare market in 2018 owing to growth in cattle farming and emphasis on higher production. The prevalence of chronic diseases in livestock, high investment & expenditure in the animal healthcare in the developed countries and technologically advanced disease detection system in the cattle healthcare are some of the factors expected to further stimulate the growth of the global cattle healthcare market in North America.
Asia Pacific and Middle East & Africa are expected to grow significantly during the forecast period owing to rising ownership of livestock, growing prevalence of disease outbreaks and rising awareness by government authorities for veterinary health. In addition, the rising demand for animal farming in emerging nations such as India and China is expected to benefit the cattle healthcare market during the forecast period.