Animal Parasiticides Market Analysis Report - Industry Size, Trends, Insights, Market Share, Competition, Opportunities, And Growth Forecasts By Type, 2023 To 2029

Market Overview:

Global Animal Parasiticides Market was valued at USD 7.71 billion in 2021 and is expected to reach USD 10.99 billion by the year 2028, at a CAGR of 5.2%.

Creature parasiticides are alluded to as antiparasitics, which are used for killing parasites swarming pets, and domesticated animals principally. Products that kill parasites are made from active ingredients that kill specific parasites. To form a parasiticidal formation, these active ingredients are made up of other inert or non-active ingredients. Preservatives, stabilizers, solvents like alcohols and water, and implants are typically inert ingredients in the formulation. The term "antiparasitic" implied either the finished product's active ingredient or the finished product itself. Endoparasiticides are used to control internal parasites like flukes, tapeworms, and roundworms.

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Market Dynamics:

Driver:

The animal parasiticides market is being driven mainly by the increasing requirements to treat parasitic diseases in animals. Parasiticides are needed to keep animals healthy because parasitic attacks are known to cause significant financial losses. Factors, for example, persistent development in medical care spending for creature wellbeing, quickly expanding interest in creature-based food sources and ascend in domesticated animals volumes, constant expansion in pet reception levels, and the need to guard against zoonotic sicknesses are turning development in the worldwide creature parasiticides market.

Opportunities:

Introducing the Door to More Digital Health Solutions

The beginning of the Coronavirus pandemic and showing lockdown limitations prompted numerous veterinarians and animal people to consider telemedicine arrangements, attributable to the anticipation of a few in-person arrangements. Furthermore, its idea will make the way to move far and wide take-up of advanced innovation in creature care will help the development of the creature parasiticide market. As of now, many pet people are purchasing wearable gadgets for their creatures or utilizing applications to screen day-to-day conduct and decide on their four-legged companion on a more profound level.

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The Report Will Include A Major Chapter

•Patent Analysis
•Regulatory Framework
•Technology Roadmap
•BCG Matrix
•Heat Map Analysis
•Price Trend Analysis
•Investment Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
•Pestle Analysis

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Market Segmentation

Based on Type, the ectoparasiticides segment is expected to have a maximum animal parasiticides market share of the market, in terms of value during the forecast period. The segment is projected to expand owing to growth in infestation of fleas, ticks, and other ectoparasites to companion animals and livestock, which raises the chances of bacterial, viral, and parasitic disease transmission to humans. Hence, the application of ectoparasiticides is inevitable and important for pets and cattle. These factors are anticipated to turn the segment during the forecast period.

Based on the Animal Type, the companion animal segment is anticipated to record the maximum animal parasiticides market share over the forecast period. The growth of specialized R&D production units by key players in key economies globally and the rising adoption rate of pets as a companion, beast of burden, etc., have led to the major share held by the companion animals' segment of the global animal parasiticides market. Growth in gastrointestinal parasitism and zoonotic diseases among pets is probably to turn the animal parasiticides market over the forecast period.

Based on the End-Users, Veterinary Clinics & Hospitals segment is anticipated to dominate the animal parasiticides market over the forecast period. Largely incorporation of animal parasiticides in hospital settings, the rising incidence of parasitic diseases, and increasing consciousness regarding animal health in developing countries led to the growth of the animal parasiticides market.

By Type:

•Ectoparasiticides
•Endoparasiticides
•Endectocides

By Animal Type:

•Companion Animals
•Livestock Animals

By End User:

•Animal Farms
•Home Care Settings
•Veterinary Clinics & Hospitals

By Distribution Channels:

•Veterinary Hospitals & Clinics
•Pharmacies
•Drug stores

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Regional Analysis of Animal Parasiticides Market:

The Asia Pacific is estimated to be a highly attractive market for animal parasiticides and is probably to exhibit a significant attractiveness index. The market in the Asia Pacific is expected to grow at a high CAGR over the forecast period owing to the rising trading policy of meat in developing countries such as India and China. Growth in adoption of companion animals, rising in several production units of food-producing animals such as swine and poultry, and high utilization of meat in countries such as Australia & New Zealand, Japan, Malaysia, Singapore, and Taiwan are probably to accelerate the animal parasiticides market in the Asia Pacific during the forecast period.

By Region:

•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
•Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of SA)

Key Players For The Global Animal Parasiticides Market

•Bayer AG (Germany)
•Zoetis Inc. (US)
•Virbac SA (France)
•Elanco Animal Health (US)
•Elanco Animal Health Incorporated (US)
•Virbac (France)
•Merck & Co. Inc. (the US)
•Boehringer Ingelheim GmbH (Germany)
•Bimeda Animal Health (US)
•Merck Animal Health (US)
•Ceva Santé Animale (France)

Key Industry Developments In The Animal Parasiticides Market

In June 2020, The European Commission has sanctioned, under the EU Merger Regulation, the proposed accession of Bayer AGs animal health division by Elanco Animal Health Inc. The decision is conditional on the privation of otitis products and different kinds of parasiticides in the European Economic Area (EEA), the UK, and globally.
In August 2021, Zoetis Inc. (US) received Jurox (Australia) to build its product portfolio and production capacity with potential for global expansion.

In June 2021, Boehringer Ingelheim collaborated with Lifebit (UK) to ascertain the global infectious disease epidemic using AI and natural language processing technology.

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Some of the key questions answered in this report:

•How much is the global Animal Parasiticides market worth?
•Who are the major players operating in the Animal Parasiticides market?
•Which companies are the front runners?
•Which are the recent industry trends that can be implemented to generate additional revenue streams?
•What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Animal Parasiticides Industry?

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