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| Global Bovine Mastitis Market Size |
Bovine Mastitis Market plays a vital role in dairy industry as it helps in
prevention and treatment of bovine mastitis in cattle. Bovine mastitis is an
inflammatory reaction in the mammary gland of dairy cattle which can negatively
impact milk production and milk quality. The products available in the bovine
mastitis market such as antibiotics, teat dip solutions and others help dairy
farmers tackle mastitis and ensure increased milk production.
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 9.0% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends: Increased milk production has been one of the major trends
boosting the global bovine mastitis market. Mastitis negatively impacts milk
production in cattle and dairy farmers globally have been adopting various
bovine mastitis prevention and treatment products to tackle the issue. This has
led to increased demand for antibiotics, teat dips and other products available
in the market over the past few years. The CAGR
of 9.0% till 2030 can be attributed to growing demand from dairy farmers for
mastitis management solutions to achieve higher milk yields per cattle and
improve profits. Key players in the market are focused on developing advanced
products with lower residue levels and developing economical mastitis
prevention systems to further enhance milk production from dairy herds.
Segment
Analysis
The bovine mastitis diagnostics segment is currently the largest and dominates
the bovine mastitis market, accounting for over 35% of the market share in
2022. This is because bovine mastitis diagnosis is the first step in treatment
of the disease. The diagnostics segment includes tests like CMT test,
California mastitis test, diagnostics kits, microbiological tests and others
that help in early and accurate identification of mastitis.
Key Takeaways
Global
Bovine Mastitis Market Size is expected to witness high growth at a
CAGR of 9% during the forecast period of 2023 to 2030. The market size is
projected to reach US$ 1497.52 Mn by
2024.
Regional analysis: North America region currently dominates the bovine mastitis
market with over 30% share owing to high adoption of mastitis control programs
and diagnostic tools in countries like US and Canada. Europe is the second
largest market on account rapid technological advancements in dairy farm
management systems. However, Asia Pacific region is expected to witness fastest
growth during the forecast period supported by rising awareness about bovine
health and increasing investment in the dairy sector in developing countries
like India and China.
Key players: Key players operating in the bovine mastitis market are GE
Healthcare, Siemens Healthineers, Philips Healthcare , Cardinal Health ,
Lantheus Medical Imaging, Bayer AG, Bracco Imaging, Eczacıbaşı-Monrol
Nuclear Products , Nordion, Advanced Accelerator Applications, NTP
Radioisotopes, Curium Pharma, Jubilant Life Sciences Ltd. These players are
focusing on launching innovative diagnostic products and adopting collaboration
strategies to strengthen their market position.
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