Global Bovine Respiratory Disease Treatment Markets, 2019-2024: Rising Incidence of BRD, Increasing Consumption of Beef, Changing Environmental Factors - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 20, 2019--
The “Bovine Respiratory Disease Treatment Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The increasing consumption of beef and rising population are major factors that are driving the market studied. The increase in beef consumption is due to the rising population and increasing disposable income, across the world. Bovine Respiratory Disease (BRD) has a negative impact on both the dairy and beef industries, due to calf mortality, additional labor costs, and treatment expenses.
In addition, BRD adversely affects the reproductive performance, growth, and lifespan of cattle. Hence, there is a huge necessity for BRD treatment in the market. Moreover, to meet the increasing demand for beef, most of the countries in the world are increasing the production of cattle meat. The rising demand for beef, coupled with increased production of the same, leads to a growing emphasis on BRD treatment.
There are certain complexities that are associated with the diagnosis of the BRD. Animals suffering from BRD often show signs of depression, weight loss, cough, mucopurulent or purulent nasal discharge, fever, increased respiratory rate, and abnormal pulmonary sound on auscultation. The presumptive diagnosis after a physical examination is, however, difficult, owing to the similarities of clinical signs and variation of possible bacteria. Hence, the complex diagnostic procedure is restricting the market growth.
Scope of the Report
Bovine Respiratory Disease (BRD) is the general term used for respiratory diseases in cattle or bovines. BRD is usually caused by both viral and bacterial pathogens and can affect the lower respiratory tract and upper respiratory tract.
Key Market Trends
Vaccines are Expected to Register Highest CAGR Over the Forecast Period
A vast range of bovine vaccines is available in the market for dairy and beef cattle to provide them protection against serious respiratory diseases. Klebsiella is a widespread pathogen which has been found to hamper dairy operations and has cost producers noteworthy losses. AgriLabs manufactured the first vaccine to prevent mastitis caused by Klebsiella pneumoni and this vaccine (KLEBVax SRP) is currently commercially available as announced on 23 July 2018 by the company. Hence, this cattle vaccine is expected to improve its market share in the coming years.
In April 2018, VIDO - InterVac announced about the development of a new vaccine to protect cattle in Africa against contagious bovine pleuropneumonia (CBPP), an infectious lung disease which has affected the livelihoods of approximately 24 million small-scale cattle farmers in Africa, causing more than USD 60 million yearly in losses. This type of research has brought about significant growth in the bovine vaccine market in developing regions.
Hence, it is believed that due to the availability of the vaccines and the company’s focus on coming up with more of them, the vaccine segment will dominate the market with the highest CAGR over the forecast period.
North America to Dominate the Bovine Respiratory Disease Treatment Market
North America dominates the bovine respiratory disease treatment market, owing to the increasing domestic production, consumption, and export of bovine meat. According to the estimates of the United Nations Food and Agricultural Organization (UNFAO) for the year 2015-2016, America produced approximately 30 million tonnes of the meat, and it is expected to rise, owing to a rise in population. BRD is the most common endemic disease among North American feedlot cattle.
According to the estimates of the Beef Cattle Research Council, BRD accounts for 65-80% of the morbidity and 45-75% of the mortality in the feedlots. Thus, the increasing consumption and production of bovine meat and rising cases of BRD are expected to propel the growth of the bovine respiratory disease treatment market in the region, over the forecast period.
The market for bovine respiratory disease treatment is moderately competitive. There are few global players that are holding more of the market share. However, with the rising focus on veterinary health, various small companies are also coming up with the novel therapeutics. Hence, it is expected that these companies will hold a substantial share of the market in the coming future.
Porter’s Five Force Analysis
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INDUSTRY KEYWORD: AGRICULTURE HEALTH NATURAL RESOURCES VETERINARY
SOURCE: Research and Markets
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PUB: 12/20/2019 06:55 AM/DISC: 12/20/2019 06:55 AM