Global Bovine Mastitis Industry Share by 2027: Upcoming Trends and Analysis
The market for bovine mastitis in the globe was valued at USD 1.23 billion in 2019 and is anticipated to grow to USD 1.84 billion by 2027, with a CAGR of 5.2%. Recent breakthrough concepts will open up the prospect of an exciting future in the global market. According to a report published by Fortune Business Insights, titled “Bovine Mastitis Market Size, Share & COVID-19 Impact Analysis, By Type (Clinical, and Sub-Clinical), By Product (Antibiotics, and Others), By Route of Administration (Intra-mammary, and Systemic), By Therapy (Lactating Period and Dry Period) and Regional Forecast, 2020-2027,” the market was worth USD 1.23 billion in 2019 and will exhibit a CAGR of 5.2% during the forecast period, 2020-2027.
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Bovine mastitis is a medical disorder that occurs in dairy cattle. It refers to the inflammation of the mammary gland and udder tissue. The disease can damage milk-secreting tissues in the cattle; a primary reason why this is considered as a serious disorder. The rising prevalence of bovine mastitis across the world will have a direct impact on the growth of the overall market in the coming years.
According to the Cornell University College of Veterinary Medicine, the global incidence of bovine mastitis is between 0 and 200 for every 100 cows. Moreover, the University of Glasgow states that bovine mastitis will cost around $19.7 billion to $30 billion in healthcare burden every year. Additionally, the increase in the number of mastitis infections during the dry period and the growing advantages of different intramammary non-antibiotic products such as teat sealants in the prevention of new intramammary infections during the dry period are playing a crucial role in boosting the overall market growth.
Driving Factors
One of the major issues facing the dairy industries worldwide is bovine mastitis. Due to an annual increase in the prevalence of these cases in cattle, dairy farmers are suffering significant financial losses. For instance, a study reported in the Journal of Dairy Science in 2017 found that 100 cows per year in U.S. dairy herds experienced 31 cases of clinical mastitis. The price per case ranged from USD 350 to 500.
This includes both direct and indirect costs, such as labour, future losses from milk production, diagnostics, milk loss, veterinary services, and therapeutics, among others. In comparison to indirect losses, direct losses brought on by clinical mastitis are less common. Additionally, therapeutics are thought to account for 10%–12% of the total cost of mastitis per case, according to various regional and national estimates.
Demand for antibiotics in the treatment of the condition is being fueled by the rise in the prevalence of the disease in bovine animals and the growing awareness of treatment among dairy farmers. The introduction of non-antibiotic medications for the treatment of bovine mastitis by market participants has further enhanced this.
Increasing Product Launches will Bode Well for Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches, enabled by massive investments in innovations and technological intervention, has made the highest impact on market growth. Accounting for the rising competition in the global market, major companies are looking to adopt strategies that will help them establish a stronghold in the market. In October 2018, Boehringer Ingelheim International GmBH announced the launch of a new product, aimed at the prevention of immunotherapy infections in dairy cattle.
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The company introduced ‘Lockout,’ a product that will prevent post-immunotherapy complications, subsequently enhancing the health and performance of dairy cattle. This will also boost the end products in dairy farming. This product will not just serve the aforementioned applications, but will also affect the growth of the global market in the coming years.