With everyone raising health concerns over the consumption of livestock products owing to the increasing incidences of outbreaks through swine, the global swine health market is set to benefit by this and is expected to grow past the 7% mark in terms of CAGR during the forecast period (2017-21). This growth can be attributed to increasing demand for livestock products which in turn coerces the end-users to opt for antibiotics and invest in research and development to address unmet medical needs.
Swine Health Market – What Keeps it in the Pink of Health?
With the sudden surge in the global demand for livestock products, the regulatory authorities and vendors are compelled to take initiatives to prevent the outbreak of any zoonotic malady that might affect the livestock production. Several research organisations are conducting studies aimed at various aspects which include bacterial, viral and viral that will further impel the swine health market on the growth path. As the quality of livestock products is highly dependent on the health of animals, the vendors are expected to adopt more drugs for prevention and treatment of diseases.
Unexpected Pork Woes- What Could Create Problems in the ‘Swine Health’ Land?
The worldwide livestock market is plagued with transmission of infectious microorganisms that may result in an outbreak of foodborne illnesses among human beings. This is one of the biggest challenges faced by the global market for swine health in order to preserve its commercial benefits. End-users are indulging in an unregulated use of antibiotics leading to the development of antibiotic resistant strains of microbes which eventually contributes to the transmission of diseases. This means the existing antibiotics cannot be used to treat the new bacterial strains. In addition to this, the stringent regulatory guidelines coupled with the complex administrative setup for obtaining market approval further increases the investment in terms of time and cost to launch newer drugs.
Global Swine Health Market – Whom to Keep an Eye on
As any other market, these vendors are whom you should watch out for in the worldwide swine health space.
- Boehringer Ingelheim
- CevaSante Animale
- Elanco
- Merck Animal Health
- Zoetis
These major vendors in the swine health space must have a tactical approach in place to face the probable challenges outlined during the next five years. The international market for swine health is highly fragmented and vendors are focusing on inorganic growth to drive down product development costs and quickly penetrate the market.
We at Technavio, have conducted an extensive study on the global swine health market and it is expected to be hale and hearty during the forecast period (2017-21).
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