Press release
Animal Parasiticides Market Insights 2013-2017 & 2023:Top Companies| Zoetis, Merck, Elanco, Bayer, Boehringer Ingelheim, Virbac, Ceva Sante Animale
Animal Parasiticides Market will exceed USD 6.5 billion by 2024; as per a new research report.
Rising animal healthcare expenditure coupled with growing adoption of companion animals will drive animal parasiticides market. Rising number of veterinary practitioners and growing demand for animal derived food products will fuel industry growth.
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The key players covered in this study:
Zoetis
Merck
Elanco
Bayer
Boehringer Ingelheim
Virbac
Ceva Sante Animale
Perrigo Company PLC and Vetoquinol
Increasing incidences of zoonotic diseases has stimulated demand for new product development to control disease prevalence. The growing income levels of veterinary practitioners, availability of disposable income and rising awareness about zoonotic diseases will positively impact animal parasiticides market growth over the forecast timeframe. Increasing research grants for developing animal parasiticidal products will drive animal parasiticides market over the coming years.
Numerous initiatives undertaken by domestic governments to control zoonotic diseases, preventive measures taken by pet owners along with rising demand for animal derived proteins will fuel industry growth. However, excessive cost associated with R&D, restrictions related to use of parasiticides in few animals and stringent approval procedure will drive animal parasiticides market.
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Easy operative pour-ons, sprays and spot-ons contribute significantly towards growth of ectoparasiticides market. Effective results delivered by ectoparasiticide formulations as compared to others coupled with growing demand will drive ectoparasiticides market. Dual functionality of endectocides will stimulate its future demand.
Increasing demand for animal derived food products, proteins along with growing consumption of meat will drive farm animals parasiticides market. Rising awareness about zoonotic diseases and rise in animal healthcare expenditure will positively impact industry growth.
U.S. animal parasiticides market was dominating the industry due to growing adoption of companion animals, rise in animal healthcare expenditure due to increasing disposable income and growing number of veterinary practitioners in the U.S. Growth of animal farming industry in the country will fuel market growth.
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Growth drivers
3.3.1.1. Growing trend of adopting pet animals
3.3.1.2. Rising prevalence of food borne and zoonotic diseases
3.3.1.3. Favorable government initiatives
3.3.1.4. Rapidly increasing demand for animal protein in human food
3.3.1.5. Unhygienic livestock farming practices causing infections
China animal parasiticides market will grow considerably during forecast period. Increasing animal healthcare expenditure, growing demand for animal derived proteins and food products and growth in disposable income of pet owners will drive Chinese market. Growing penetration of animal health companies in the country will fuel industry growth.
Some of the notable industry players are Merck, Virbac, Zoetis, Bayer, Ceva Sante Animale, Elanco, Vetoquinol, Boehringer Ingelheim, and Perrigo Company PLC. Market players focus on developing superior products to serve to the growing demand for animal parasiticidal formulations. Geographical expansion, partnerships and mergers and acquisitions are major strategies adopted by industry players.
Animal parasiticides market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Animal Parasiticides Market By Product
• Ectoparasiticides
• Sprays
• Dips
• Collars
• Pour-ons and Spot-ons
• Ear tags
• Endoparasiticides
• Injectables
• Oral
• Feed additives
• Endectocides
About Global Market Insights:
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.
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