Global Animal Parasiticides Market 2022 Growth Factors, Opportunities, Ongoing Trends and Key Players 2032
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The prime factors powering the demand for animal parasiticides are increasing awareness about animal healthcare, increasing demand of animal derived food products, growing concern about foodborne diseases and zoonotic diseases, growth in adoption of companion animals and increase in animal healthcare expenditure. However, a growing preference for vegetarian food and diet and a stringent approval process for animal parasiticides coupled with restrictions on the use of parasiticides in food producing animals are the restraints affecting the global animal parasiticides market.
A key trend defining the market is that larger players are focused towards enhancing their geographical presence and expanding their customer base by entering into strategic mergers and acquisitions. Furthermore, huge investment from government organizations and private players for research and development activities is also a key trend of global animal parasiticides market.
Sanofi S.A. (Merial)
Ceva Sante Animlae
Eli Lilly and Company
Merck & Co Inc.
Boehringer Ingelheim GmbH
Perrigo Co. plc
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The market is segmented based on product type, animal type, distribution channel and region. Based on product type, the market is sub-segmented into Ectoparasiticides, Endoparasiticides and Endectocides. Among the product type segment, Endoparasiticides segment is expected to exhibit the highest revenue growth over the forecast period. The Endoparasiticides product type segment is expected to register a significant CAGR of 5.9% during the forecast period in terms of value. The Ectoparasiticides segment is projected to exhibit a CAGR of 5.7% over the forecast period in terms of value.
The market has also been segmented by animal type into food producing animals and companion animals. The food producing animals segment is expected to be the largest over the forecast period, with the segment witnessing a CAGR of 6.2% during the forecast period. One of the key growth drivers for animal parasiticides market is the growing concern about foodborne and zoonotic diseases.
This report assesses trends driving growth of each segment on the regional as well as country level and offers potential takeaways that could prove substantially useful to animal parasiticides manufacturers looking to enter the market. Western Europe market has been estimated to dominate the global animal parasiticides market, accounting for a maximum revenue share of the market by 2016 end.
North America is expected to account for over 20.0% revenue share of the global animal parasiticides market by 2016 end. Among the emerging markets, APEJ is estimated to exhibit a significant CAGR of 6.4% over the forecast period, followed by the North America market, due to increasing awareness about animal healthcare and increasing demand for animal derived food products.
Some of the key players in the global animal parasiticides market include Sanofi S.A. (Merial), Ceva Sante Animlae, Virbac SA, Vetoquinol S.A., Eli Lilly and Company, Zoetis Inc., Merck & Co Inc., Bayer AG, Boehringer Ingelheim GmbH and Perrigo Co. plc. The report discusses individual strategies followed by these companies in terms of enhancing their product portfolio, creating new marketing techniques, mergers and acquisitions. The 'Competitive Landscape' is included to provide report audiences with a dashboard view and company share collectively.
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Key Questions Answered in This Report.
What are the Roadblocks for Animal Parasiticides Market Suppliers?
What are the Key Opportunities for Animal Parasiticides Market Manufacturers?
How is Focus on Safety Influencing Animal Parasiticides Market Demand?
What is the Regulatory Impact on Global Sales of Animal Parasiticides Market?
Which Region Offers the Largest Opportunity for Sales of Animal Parasiticides Market?
Where Does the U.S. Stand in the Market for Animal Parasiticides Market?
What Is the Outlook for Animal Parasiticides Market Manufacturers in China?
Why is Germany a Lucrative Market for Animal Parasiticides Market Manufacturers?
Why Will Belgium Outpace Other European Markets for Animal Parasiticides Market?
Why is There High Demand for Tires in Animal Parasiticides Market?
Why are Sales of Animal Parasiticides Market Surging?
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