The global farm animal healthcare market is poised for remarkable expansion, with a projected value of $27.39 billion by 2028, a compound annual growth rate of 5.12% during the forecast period from 2023 to 2028, according to a new report from ResearchAndMarkets.com.

According to the report there are several factors driving growth, including technological advancements, government and animal welfare initiatives, and an escalating risk of emerging zoonosis.

The growth of the farm animal healthcare market is intrinsically linked to advancements in technology and innovative healthcare solutions for animals. The development of novel vaccines and therapeutics, particularly in response to emerging chronic and infectious diseases among farm animals, has emerged as a pivotal driver of market expansion.

Government bodies and animal welfare associations across various nations are increasingly championing programs and campaigns aimed at vaccinating farm animals. These initiatives significantly boost market growth. A noteworthy example is the launch of a five-year project in the United States in 2022, targeting the vaccination of cattle against bovine tuberculosis.

The vaccines segment is primed for substantial growth within the farm animal healthcare market, according to the report. Factors driving this surge include the growing prevalence of zoonotic and chronic diseases, heightened awareness of animal health, increased investments, and the introduction of new products. Global market players are leveraging these trends, developing and launching novel vaccines to enhance their market presence and address emerging diseases among farm animals.