Animal Parasiticides Market Report Up to 2031
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The study covers detailed and insightful chapters on market overview, market segments, new developments, competitive landscape, strategic recommendations, key company analysis, market opportunities, pricing analysis, gap analysis, porter’s 5 forces model, company profiling, geographical analysis, and analytical overview of the market. The increase in demand for animal health insurance and animal health expenditure, the prevalence of zoonotic infection among companion animals are some of the factors driving the growth of the animal parasiticide market.
COVID-19 Impact on the Global Animal Parasiticides Market
According to the Center for Disease Control and Prevention (CDC), some of the companion animals (cats and dogs) have been reported with COVID-19 in several countries, including the US. The pets are vulnerable to infection and became sick when encountering the COVID-19 patient. The CDC, U.S. Department of Agriculture (USDA), state public health and animal health officials have been working together to conduct active surveillance of SARS-CoV-2 in pets, such as cats, dogs, and other small mammals, that had contacted with COVID-19 patients.
Increasing adoption of companion animals.
The adoption of companion animals is increasing due to the rise in awareness of animal healthcare and safety. The changes in lifestyle and availability of animal health products such as antimicrobial, antibacterial, antibiotics, and parasiticides are contributing to the growth of the animal parasiticide market
Increasing consumption of livestock and livestock-based products
Livestock are considered as the source of protein-based diet, income, employment, and possibly foreign exchange. The consumption of livestock and the livestock-based product has increased rapidly in emerging economies such as India, the demand for food has increased due to the huge population and recent growth in consumer income. The factors contributing to the growth of livestock consumption includes- rising disposable income, dietary change, improved livestock-based products, and market development.
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Government initiatives for animal health & safety
The changes in parasitic infections (such as parasite genetics, biology) have increased parasiticide resistance, which is one of the emerging concerns in various species. The parasitic resistance is severely affecting the health and the productivity of animals. However, to combat the growing healthcare threat, the FDA developed an anti-parasitic resistance management strategy. This strategy encourages the sustainable use of the approved anti-parasitic drugs in livestock such as poultry, cattle, sheep, horses, goats, and swine. The sustainable enables slowing the development of anti-parasitic resistance and ensures anti-parasitic drugs to remain effective for long period.
Bayer AG, Elanco Animal Health Inc., Merck & Co., Inc., Zoetis, Virbac, Boehringer Ingelheim, Abbey Animal Health, Bimeda Holdings PLC, Biogenesis Bago SA, Bio-Vet and Ceva Santé Animale are some of the key players contributing to the growth of the global animal parasiticides market. The market players are adopting new strategies to stay competitive in the global market such as new product developments, joint ventures, mergers and acquisitions, and geographical expansions.
For instance, On 16 January 2020, Ceva Santé Animale entered into an agreement with the Vietnam Department of Animal Health (DAH), which will help the company to boost the implementation of preventive health strategies, such as R&D of new vaccines and development. The collaboration focuses to deliver local Foot and Mouth disease vaccines effectively.
On 15thSeptember 2020, Virbac entered in partnership with Ictyogroup to deliver new aquaculture solutions. The company acquired a wide range of tilapia vaccines from Ictyogroup, which enables to distribute, and market registered and autogenous vaccines, globally. The acquisition boosts the global animal parasiticides market in Asia, Africa, and Latin America, due to the presence of a range of tilapia vaccines in the region.
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