Bovine mastitis refers to the inflammation of mammary glands in dairy cows. It is a major disease affecting dairy cows due to bacterial infection. The disease leads to reduced milk production and quality. The bovine mastitis market consists of products such as antibiotics, teat sealants, diagnostics, and other therapeutics used to treat and prevent the disease in dairy cows.
The global Bovine Mastitis Market is estimated to be valued at US$ 1497.52 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The bovine mastitis market is primarily driven by the rising consumption of dairy products globally. According to Food and Agriculture Organization (FAO), global per capita consumption of dairy products increased from 83.2 kg in 2000 to 102.5 kg in 2016. This growing consumption has increased the demand for milk production, thus driving dairy producers to adopt bovine mastitis prevention and treatment products to maximize milk yields. Additionally, increasing awareness regarding animal health and economic losses caused by the disease is also expected to fuel the market growth. Bovine mastitis causes severe economic losses to dairy farmers due to decreased milk production and quality, cost of treatment, and mortality among dairy cows. According to a study, annual economic loss due to subclinical mastitis in the U.S. is estimated to be US$ 2 billion. Thus, growing awareness about economic impact is encouraging dairy producers to invest in mastitis management products for profitable dairy farming.
SWOT Analysis
Strength: Bovine Mastitis Market has strong growth potential due to rising dairy consumption globally. Growing awareness regarding mastitis prevention and therapeutic products is boosting the market. Rapid technological advancements are supporting early mastitis diagnosis and treatment.
Weakness: High costs associated with research and development activities of mastitis treatment products hamper market growth. Lack of awareness in underdeveloped regions also limits market expansion.
Opportunity: Untapped potential in developing regions provide lucrative opportunities. Collaboration with dairy farmers for research creates opportunities.
Threats: Stringent regulations for veterinary drugs approval delays product launch. Substitutes available can threaten market share.
Key Takeaways:
The Global Bovine Mastitis Market Size is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing dairy consumption globally. Rising health consciousness among consumers is boosting demand for dairy products containing vital nutrients. This is prompting dairy farmers to address mastitis issues more effectively using advanced solutions to meet demand.
Regional analysis - North America currently dominates the bovine mastitis market. The U.S. and Canada are early adopters of technological advancements in mastitis management. However, Asia Pacific is expected to witness the highest growth rate over the forecast period. India and China possess the world’s largest dairy herd size making them lucrative markets. Public and private initiatives to curb economic losses from mastitis will drive regional market growth.
Key players operating in the Bovine Mastitis market are Zoetis, Merck & Co., Inc., Boehringer Ingelheim International GmbH, Bayer AG, Elanco, Ceva, West Way Health, Norbrook, DeLaval, ImmuCell Corporation, Advanced Animal Diagnostics, and Nimrod Veterinary Products Ltd. These companies focus on new product innovations and strategic collaborations to enhance their market presence.
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