Animal Parasiticides Market : 2018 Prominent Players | Zoetis, Merck, Elanco, Bayer, Boehringer Ingelheim, Virbac, Ceva Sante Animale, Perrigo Company PLC and Vetoquinol

Animal Parasiticides Market size is set to exceed USD 6.5 billion by 2024; according to a new research report by Global Market Insights, Inc.
Increasing animal healthcare expenditure, growing pet adoption, mounting number of veterinary practitioners and their increasing revenue levels coupled with rising demand for animal-derived food products in developed countries will serve as high impact rendering factors for the industry growth.

Growing number of research activities along with rising research donations, and increasing cognizance about zoonotic diseases will fuel the industry size. Increasing apprehensions of zoonotic diseases, growing companion animal population, guidelines for preventing spread of diseases, mounting demand for animal-derived food products, and increasing health expenditure will stimulate business growth over the coming years.

Moreover, development of innovative oral dosage formulae of ectoparasiticides, invention in parasiticides product offerings, favorable government initiatives, rapidly increasing demand for animal protein in human food and unhygienic livestock farming practices triggering infections will further propel the industry size. However, restrictions related to use of parasiticides in food animals and lack of awareness in rural regions of developing countries may hinder the business growth in the coming years.

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Endoparasiticides market should witness significant growth over the forecast period owing to growing demand of the endoparasiticides and increasing prevalence of internal parasiticides like tapeworms, roundworms and flukes. Increasing research and development activities by companies for formulations of new products, growing prevalence of foodborne diseases, rising awareness about animal healthcare and technological advancements will offer substantial segment growth opportunity.

Farm animals segment will grow at a significant rate in the coming years due to rise in care for farm animals, and increasing range of services and products that offer tangible solutions for dairy cattle and beef, poultry, pigs, sheep, and fish. Moreover, increasing demand for treatment and prevention of conditions that adversely influence livestock and cost-effective production of healthy, high-quality protein, including meat, milk, fish, poultry, and eggs will propel the industry size.

U.S. market accounted for major industry share in 2016 and is projected to grow substantially over the forecast period. Growing research and development activities and availability of well-established animal healthcare market in the country will propel the industry growth.
UK will grow at a substantial rate owing to increasing financial stability amongst owners to buy exclusive healthcare products for animals and rising awareness among individuals about available treatment options. Furthermore, presence of major pharmaceutical companies launching innovative products will stimulate industry growth over the forecast period.

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China should witness considerable growth in the coming years due to rising pet adoption, increasing demand for animal-derived food products, increasing awareness towards pet health and rising disposable income.

Some of the companies operating in the industry are Merck, Elanco, Bayer Animal Health, Boehringer Ingelheim Animal Health, Sanofi, Zoetis and Ceva Sante Animale. Innovative product introductions, mergers and acquisition, sturdy product pipeline and geographical expansion will majorly boost the industry growth. Key industry players will work to reinforce their place in this competitive market by implementing these strategies.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

This release was published on openPR.