Major Growth Expected in Animal Parasiticides Market | Key Company Profiled - Zoetis, Merck, Elanco, Bayer, Boehringer Ingelheim, Virbac, Ceva Sante Animale, Perrigo Company PLC and Vetoquinol
Being one of the top producers of farm animals, the demand for various parasiticides products will fuel the business growth. Farm animal parasiticides are major contributors to the total market. Pet parasiticides are still in introduction phase, but are poised to enter growth phase due to rising disposable incomes and awareness among pet owners.
Some of the prominent industry participants include Zoetis, Merck, Elanco, Bayer, Boehringer Ingelheim, Virbac, Ceva Sante Animale, Perrigo Company PLC and Vetoquinol. Merger and acquisition, new product development and geographical expansion are some of the strategies adopted to gain industry share.
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Sprays, Collars and pour-ons and spot-ons are the key contributors to the ectoparasiticides segment; together they hold nearly 70% share of the total market, owing to their easy to use and effective nature of sprays, thus stimulating future adoption.
An enormous number of marketed injectables dominate the endoparasiticides segment; their contribution is almost 50% to the total market size. However, non-invasive nature of feed additives aided with endoparasiticides is most likely to drive the segment growth.
Animal Parasiticides Market size is set to reach USD 6.5 billion by 2024; according to a new research report by Global Market Insights, Inc.Favorable government initiatives should elevate the global animal parasiticide market due to the activities concerning animal welfare activities, resulting in substantial demand for parasiticides, thus improving the health of livestock worldwide.
Rising incidences of zoonotic diseases coupled with increasing industrial animal farming will serve as high impact rendering factors for the global animal parasiticides market.
Whooping rise in the number of pet population along with improved economic status of pet owners especially in developing regions will spur the demand for animal health products worldwide.
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Advent of new product development to address several parasitic infections, both in farm as well as pet animals should also fuel the industry expansion during the forecast timeframe.
Limitations related to use of parasiticides, especially endoparasiticides in animals for consumption and lack of awareness about presence of animal health products in developing and under-developed regions happens to be a paramount growth restraining factor.
Chapter 1. Methodology and Scope
1.1. Research methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data sources
Chapter 2. Executive Summary
2.1. Animal parasiticides market 3600 synopsis, 2013 –2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Animal type trends
2.1.4. Regional trends
Chapter 3. Animal Parasiticides Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry impact forces
3.3.1. Growth drivers
188.8.131.52. Growing trend of adopting pet animals
184.108.40.206. Rising prevalence of food borne and zoonotic diseases
220.127.116.11. Favorable government initiatives
18.104.22.168. Rapidly increasing demand for animal protein in human food
22.214.171.124. Unhygienic livestock farming practices causing infections
3.3.2. Industry pitfalls & challenges
126.96.36.199. Restrictions related to use of parasiticides in food animals
188.8.131.52. Lack of awareness in rural regions of developing countries
3.4. Regulatory landscape
3.4.3. Asia Pacific
3.5. Growth potential analysis
3.5.1. By Product
3.6. Porter's analysis
3.7. Competitive landscape, 2016
3.7.1. Company share analysis
3.7.2. Strategy dashboard
3.8. PESTEL analysis
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