Animal Parasiticides Market Size, Growth and SWOT Analysis by Key Players Boehringer Ingelheim, Bayer Ag, Eli Lilly And Company, Ceva Sante Animale, Novartis Ag, Merck & Co., Zoetis, Virbac Sa

The global animal parasiticides market outlook can be classified on the basis of type of parasiticides, animal type, and end user. There are five types of parasiticides, namely ectoparasiticides, endoparasiticides, endectocides, anthelmintic, and anti-protozoans. Parasiticides used for killing external parasites in animals such as fleas, ticks, lice, fleas, and mites are termed as ectoparasiticides. Most ectoparasiticides are called pesticides, as these chemicals are also used for agriculture and hygiene purpose. Likewise, endoparasiticides are utilized to kill internal parasite such as flukes, roundworms, and tapeworms in animals. Most endoparasiticides are termed as veterinary medicines, as the active ingredients of the products are not used for agriculture and hygiene purpose. Endectocides or macrocyclic lactones are effective in both internal and external parasites. They are either natural products or chemically-modified derivatives that show strong parasiticidal efficacy in animals. On the basis of their chemical structure, endectocides are segmented into avermectins and milbemycins. Parasiticides are available in various formulations namely, liquids, tablets, injectables, sprays, spot-on, and pour-on.

On the basis of animal type, the global animal parasiticides market scenario can be segmented into food producing animals (cattle, pigs, poultry, sheep, and goats) and companion animals (dogs, cats and horses). On the basis of end user, the global animal parasiticides market is segmented into farms, R&D facilities, and veterinary clinics. Increasing pet adoption in the Asia Pacific region is a major driving factor fueling demand for animal parasiticides in veterinary clinics.

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"Growing Livestock Population and Increasing Adoption of Pet Animals in the Asia Pacific Region is expected to boost growth of the animal parasiticides market size over the forecast period"

Geographically, the global animal parasiticides market outlook can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East. Key factors driving growth in adoption of animal parasiticides in Europe and North America include increasing pet adoption, high number of R&D activities, increasing expenditure on animal health, and rising demand for animal-derived food products. However, Asia Pacific (India, China, Australia, Japan, and Malaysia) is expected to be the most lucrative market for animal parasiticides in future due to a number of driving factors such as increasing number of companion animals, growing livestock population, increasing expenditure on animal health, and rising awareness about animal health.

Animal Parasiticides Market Trends

Key driving factors for the growth of the global animal parasiticides market include increasing awareness about animal zoonotic disease, rising number of animal population especially in developing nations of the world, increasing demand for animal-based food and animal proteins, and increasing animal research activities. Furthermore, increasing expenditure on animal health and government initiatives to protect animal health is fueling demand for animal parasiticides. However, high cost of R&D activities, new species of parasites, stringent regulatory policies for approval of animal parasiticides, and high cost of animal parasiticide products is hindering growth of the animal parasiticides market.

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