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In May 2019, Bimeda Animal Health received U.S Food and Drug Administration approval for the company’s OxyMed indicated to treat bacterial enteritis in swine. The rising incidents of swine diseases in pigs is anticipated to increase in the adoption of swine healthcare products.
The increasing dependency on poultry and swine products have anticipated being one of the swine healthcare market drivers. Additionally, the active participation of industry and government to maintain animal health is expected to boost market growth. There is additionally a rise in pork eating population in the emerging countries that could impact the global swine healthcare market trend.
The global swine healthcare market growth is projected to be driven by the increasing prevalence of diseases like swine flu, classical swine fever (CSF), salmonella, mycoplasma hyopneumoniae, and among others. According to the Swine Health Information Centre, around 70% of people of France have been exposed to Influenza Virus C (IVC) in their lifetime.
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Additionally, the rising awareness of pork transmitted diseases is expected to increase the adoption of swine healthcare products. The robust initiatives from government agencies towards swine health maintenance is projected to fuel the global swine healthcare market growth.
On the flip side, stringent government guidelines that restrict the use of drugs in swine is anticipated to restrain the global swine healthcare market growth. For instance, in April 2016, Center for Veterinary Medicine (CVM) division of the U.S FDA initiated steps to withdraw carbadox drug used in swine owing to the presence of trace amount of carcinogenic residue in pork meat.
Some of the major companies included in the global swine healthcare market report are Orion Pharma, Norbrook Laboratories, Ltd., Bayer Animal Health, Zoetis Inc., Phibro Animal Health, Bio-Vet, Dechra Pharmaceuticals PLC, Neogen Co, Bimeda, Inc., and other players.
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As per the current swine healthcare market trends, vaccines are estimated to register higher market share owing to the increasing awareness of swine diseases combined with the rising importance of prevention of the disease.
The global swine healthcare market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to hold major market share in the global swine healthcare market owing to the evolved animal healthcare and increasing government initiative in animal welfare combined with a rise in pork eating population. In the countries of Europe, the swine healthcare market is anticipated to be driven by the increasing awareness of swine disease and favorable healthcare facilities for farm animals. In the Asia Pacific and Latin American regions, the increasing prevalence of animal diseases is expected to propel the swine healthcare market growth during the forecast period. In Middle East and Africa, the unmet need of animal healthcare is projected to be the reason for the region to hold a considerable lower swine healthcare market share.
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