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Veterinary Parasiticides Global Market Size is Expected to Grow $19.09 Billion By 2028 With CAGR 6.6%. | Key Players: Bayer AG, Zoetis Inc., Boehringer Ingelheim, Merial Inc., Perrigo Company
Veterinary Parasiticides Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Veterinary Parasiticides industry. This report on Veterinary Parasiticides market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The veterinary parasiticides market size has grown strongly in recent years. It will grow from $13.86 billion in 2023 to $14.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to animal health awareness, livestock production, companion animal ownership, zoonotic diseases. The veterinary parasiticides market size is expected to see strong growth in the next few years. It will grow to $19.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
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Key Market Players:
Bayer AG, Zoetis Inc., Boehringer Ingelheim, Merck & Co. Inc., Eli Lilly and Company, virology and bacteriology, Ceva Animal Health, The Progressive Corporation are prominent players in the Veterinary Parasiticides industry.
Market Drivers:
Animals are increasingly being affected by zoonotic pathogens, which are the leading cause of foodborne diseases worldwide. Zoonotic diseases are infectious diseases caused by bacteria, viruses, and parasites, especially Salmonella and Campylobacter, which can be transmitted directly or indirectly between animals and humans. These diseases get passed through the food chain to humans which is a potential threat and creates a dire need to prevent such diseases among animals. For instance, in December 2022, according to the European Food Safety Authority, an Italy-based independent agency for providing scientific advice on food and feed safety, nutrition, and related issues, in 2021 there were 4,005 foodborne incidents, which is an increase of 29.8% when compared to 2020.
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Market segments for Veterinary Parasiticides include:
1) By Type: Endoparasiticides, Ectoparasiticides, Endectocides
2) By Product: Oral Liquids, Tablets, Injectables, Sprays, Other Products
3) By Application: Farm Animals, Companion Animals
4) By End Users: R&D Facilities, Farms, Veterinary Clinics
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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