Animal Parasiticides Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and M
Global Animal Parasiticides Market is expected to value over USD 4.7 billion by 2026 end and register a CAGR of over 3.7% during the forecast period 2019 to 2026.
Rising incidences of parasite-induced infections in livestock, pets and other animals is one key factor responsible for the global animal parasiticides market growth. Increasing persistence of the usage of animal parasiticides for effective treatment of livestock and pets has escalated the demand for parasiticide products, thus assisting in the expansion of the global animal parasiticides market size.
Soaring investments in the development of novel veterinary healthcare products, growing concerns regarding zoonotic diseases and rising awareness regarding healthcare facilities offered to animals shall positively influence the market growth. Furthermore, growing expenditure on veterinary healthcare and increased pet ownership are key factors for animal parasiticides products in gaining immense popularity. With an escalated farm animal production, the possibility of parasitic infection increases, particularly in developing nations owing to sub-optimal conditions, thereby leading to production loss.
Many vaccines and drug developments are easily available to farmers to have regulation over the infection of parasites. For example, multiple anthelmintic drugs like macrocyclic lactones, levamisole and benzimidazole for treating gut from infections are easily accessible in the global market. Growing awareness regarding the improvement of veterinary treatment technique among the customers has increased the insistence for novel medicines, by attaining effective opportunities for growth for the key market players over the forecast period.
Although, with strict regulations for animal parasiticide approvals in animals producing food and increased priority of choosing a vegetarian lifestyle may impede the proliferation of the market over the forecast timeline.
Increased usage of ectoparasiticides for treating infestation from insects in animals and rising investments in the development of novel veterinary products shall escalate market growth over the forecast period. Moreover, the eco-friendly, economical, quick preparation of pour-on products over the other techniques will mount the usage of ectoparasiticides in the upcoming years which in turn, shall positively stimulate the animal parasiticides market growth.
The farm animal segment is predicted to experience a high value of CAGR over the forecast period due to a rising demand of animal food and growing concern for meat quality and other animal products. Furthermore, growing investment in animal healthcare expenditure and increasing consumption of animal by-products shall proliferate the market.
The growing insistence for animal by-products and an increase in pet adoption have stimulated the insistence for animal parasiticides products in the United States. Growing concern for the overall animal healthcare amongst the pet animal owners and high presence of infestation of insects in animals shall increase the usage of animal parasiticides. Furthermore, increasing investment in the research and development of new veterinary products and key market players being primarily present in the country will bolster the market growth over the projected timeframe.
Key market players included in the global animal parasiticides industry are Zoetis, Merck, Elanco, Bayer Animal Health, Boehringer Ingelheim Animal Health, Ceva Sante Animale, Virbac, Sanofi, Vetoquinol, Perrigo Company PLC.
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Global Animal Parasiticides Market Segmentation:
By Product
- Ectoparasiticides
- Sprays
- Dips
- Collars
- Pour-ons and Spot-ons
- Ear Tags
- Others
- Endoparasiticides
- Injectables
- Orals
- Feed Additives
- Others
- Endectocides
By Animal Type
- Farm Animals
- Poultry
- Swine
- Cattle
- Sheep and Goats
- Others
- Companion Animals
- Dogs
- Cats
- Horses
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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FutureWise Key Takeaways:
- Growth prospect
- SWOT analysis
- Key trends
- Key data-points affecting market growth
Objectives of the Study:
- To provide with an exhaustive analysis on the global animal parasiticides market by product, by animal type and by region
- To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
- To forecast and evaluate micro-markets and the overall market
- To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
- To record, evaluate and analyse competitive landscape mapping- technological advancements, product launches, expansions and mergers
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