Zion Market Research has published a new report titled “Animal Parasiticides Market by Product Type (Endoparasiticides, Ectoparasiticides, and Endectocides), by Animal Type (Cats, Dogs, Pigs, Cattle, Goats, Sheep, and Others), and by End-User (R&D Facilities, Farms, and Veterinary Clinics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global animal parasiticides market was valued at approximately USD 8.65 billion in 2018 and is expected to generate around USD 12.85 billion by 2025, at a CAGR of around 5.9% between 2019 and 2025.
Parasites attack farm animals and pets for their own nourishment. Parasites live on or inside the body of the host animal and benefit from their protection and food. Commonly found parasites like mosquitoes, ticks, and fleas live outside of the animal body hidden in the fur or on the skin. Such parasites can be particularly hazardous as they not only hurt the animal but also rapidly spread a disease outburst. Some parasites like worms may also proliferate inside the body of animals. Cattles might inadvertently take up parasite larvae that are present on the ground while grazing pastures.
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The increasing animal healthcare spending, growing pet adoption, rising requirement for animal food products, more importance being given to maintenance of animal health, rising number of veterinary physicians, growing awareness regarding animal diseases, attention toward reducing economic damage linked with the contamination in food-producing animals, rapidly growing demand for animal proteins, and rising animal research ventures will act as major growth drivers of the global animal parasiticides market. Efforts taken by the government and non-governmental organizations to protect animal health and rising animal welfare acts will generate new growth opportunities for the players operating in the global animal parasiticides market. Nonetheless, the high cost of research and development of new products, rigorous regulatory policies, and lack of awareness regarding animal diseases in developing regions may restrict the growth of the global animal parasiticides market in the future.
The global animal parasiticides market is segmented based on product type, animal type, and end-user. By product type, the animal parasiticides market is segmented into endoparasiticides, ectoparasiticides, and endectocides. The ectoparasiticides segment held the largest market share in 2018 due to its multiple advantages over other formulations. The endoparasiticides are sub-segmented into injectables, oral solids, feed additives, oral liquids, and others. The ectoparasiticides are sub-segmented into sprays, spot-on and pour-on, dips, collars, oral tablets, ear tags, and others. The animal type segment is divided into cats, dogs, pigs, cattle, goats, sheep, and others. The end-user segment is fragmented into R&D facilities, farms, and veterinary clinics.
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By region, Europe will lead the global animal parasiticides market over the forecast time period, owing to increasing animal adoption trend, growing animal healthcare spending, high ongoing research and development activity, constantly rising demand for animal-based products, and high rise in animal healthcare awareness. North America will be the second largest market for animal parasiticides in the years ahead, due to increasing animal protein requirement, enhancement in animal productivity, high animal healthcare spending, a growing number of skilled veterinary practitioners, and presence of state-of-the-art animal healthcare infrastructure. The Asia Pacific will propagate at a speedy rate over the forecast time period, owing to the increasing livestock population, rising adoption of pets, increasing the need for animal-derived products, and growing animal healthcare spending.
Some players of the global animal parasiticides market are Eli Lilly and Company, Sanofi, Virbac, Zoetis, Inc., Ceva Sante Animale, Vetoquinol S.A., Merck and Co., Inc., Perrigo Company, Boehringer Ingelheim, and Bayer AG, among others.
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This report segments the global animal parasiticides market as follows:
Global Animal Parasiticides Market: By Product Type
- Oral Solids
- Feed Additives
- Oral Liquids
- Spot-On and Pour-On
- Oral Tablets
- Ear Tags
Global Animal Parasiticides Market: By Animal Type