Animal Oral Parasiticides Market 2022, Statistics, Top Leaders Analysis, CAGR Forecast to 2028

According to Precision Business Insights (PBI), the latest report the global animal oral parasiticides market is expected to be worth USD 2,346.1 million in 2021 and projected to grow at a 5.4% CAGR over 2022 to 2028. The animal oral parasiticides market is being fueled by an increase in animal healthcare expenditure for animal welfare to improve the health of livestock animals. Furthermore, rising adoption of companion animals in developed economies is expected to boost the animal oral parasiticides market.

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The Ectoparasiticides Segment is Dominating the Animal Oral Parasiticides Market:
Based on the product type, the market is segmented into Ectoparasiticides, Endoparasiticides, and Endectocides. Which Ectoparasiticides segment is anticipated to show the global animal oral parasiticides market growth owing to endoparasiticide are in high demand because they control a rising incidence of internal parasiticides such as roundworms, tapeworms, and flukes, which feeds the Endoparasiticides sector growth. Additionally, limitations on the use of parasiticides in food-producing animals may limit the growth of the Endoparasiticides and Ectoparasiticides sector throughout the projection period. Moreover, the market players are focusing on launching new products, for instance, In February 2020. Zoetis has announced the European launch of Simparica Trio (sarolaner/moxidectin/pyrantel), a once-monthly Ecto- and ectoparasiticide for dogs.

Asia Pacific Leads Animal Oral Parasiticides Market:
North America is expected to hold significant market share in the global animal oral parasiticides market and is projected to grow at a prominent growth rate over the forecast years owing to the demand in North America is anticipated driven by the rapid increase in the number of livestock cultivation and rise in infection among companion animals due to the presence of various types of ticks in the U.S. Moreover, a rise in contract farming and independent farmers for livestock production farms has been observed in the U.S., which is expected to fuel animal production farms in the U.S. during the forecast period.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
The Global Animal Oral Parasiticides market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In August 2021, Zoetis Inc. (US) to acquire Jurox (Australia) to broaden its product line and production capabilities, with the possibility of global expansion. In August 2020, Merck & Co., Inc. (US) purchased global rights to Elanco Animal Health's Vexocan brand of parasiticide for its ruminant portfolio.

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The animal oral parasiticides market is segmented based on product type, formulation type, animal type, distribution channel, and geography:
Based on the Product Type, the market is segmented into the following:
• Ectoparasiticides
• Endoparasiticides
• Endectocides

Based on the Formulation Type, the market is segmented into the following:
• Solids
• Liquids

Based on the Animal Type, the market is segmented into the following:
• Food producing animals
• Companion animals

Based on the By Distribution Channel, the market is segmented into the following:
• Veterinary Hospital pharmacies
• Retail Pharmacies
• Online Pharmacies

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the animal oral parasiticides market report are Merial (Boehringer Ingelheim GmbH), Ceva Sante Animlae, Virbac SA, Vetoquinol S.A., Eli Lilly and Company, Zoetis Inc., Merck & Co Inc., Bayer AG, Perrigo Co. plc.

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