Press release
Animal Parasiticides Market Poised for 7.8 % Growth, Set to Hit $13.69 Billion by 2029
Animal Parasiticides
The increase in the prevalence of zoonotic diseases is expected to propel the growth of the animal parasiticides market going forward. Zoonotic diseases are infectious diseases that can be transmitted between animals and humans caused by bacteria, viruses, parasites, or fungi. The number of zoonotic diseases is increasing due to factors including climate change, antibiotic resistance, poor sanitation, and hygiene. Animal parasiticides help prevent zoonotic diseases by controlling parasites that act as vectors or reservoirs for disease transmission between animals and humans. For instance, in April 2024, according to the European Centre for Disease Prevention and Control, a UK-based governmental organization, the number of confirmed brucellosis cases increased to 199 in 2022, from 165 cases in 2021. Therefore, the increase in the prevalence of zoonotic diseases is driving the growth of the animal parasiticides market.
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What growth opportunities are expected to drive the animal parasiticides market's CAGR through 2034?
The animal parasiticides market has seen strong growth in recent years. It is projected to expand from $9.39 billion in 2024 to $10.15 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.1%. The historical growth can be attributed to disease outbreaks, concerns about livestock productivity, increasing pet ownership, government regulations, and advancements in veterinary medicine.
The animal parasiticides market size is anticipated to witness significant expansion in the coming years. By 2029, it is estimated to reach $13.69 billion, with a compound annual growth rate (CAGR) of 7.8%. The primary factors contributing to this growth include a rise in zoonotic diseases, an increasing companion animal population, expansion of livestock farming, innovations in parasiticide formulations, and a growing awareness of animal health. Expected trends during this period include the development of long-acting formulations, advancements in biologics and vaccines, the use of nanotechnology in drug delivery, precision dosing technologies, and the adoption of digital tracking and monitoring systems.
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What are the emerging trends shaping the future of the animal parasiticides market?
In the animal parasiticides market, companies are developing innovative solutions like combination therapies to improve efficacy, expand the spectrum of parasite control, reduce resistance development, and increase convenience and compliance for pet owners and livestock managers. Combination therapy involves using two or more active agents with different mechanisms of action to treat or prevent a disease, enhancing efficacy and reducing resistance risks. For instance, in January 2022, Zoetis Inc., a U.S.-based animal health company, received FDA approval for a new label indication for Simparica Trio, confirming its effectiveness in preventing Borrelia burgdorferi infections by targeting and eliminating Ixodes scapularis ticks. This innovative all-in-one chewable tablet offers broad-spectrum protection by killing ticks, the primary vectors of Lyme disease, before they transmit the infection. Its triple-action formula provides comprehensive parasite control targeting fleas, ticks, heartworms, roundworms, and hookworms in a single monthly dose.
Which growth-oriented segments of the animal parasiticides market are leading the industry's development?
The animal parasiticides market covered in this report is segmented -
1) By Type: Endoparasticides, Ectoparasiticides, Endectocides
2) By Livestock: Swine, Poultry, Ovine, Bovine, Equine, Canine, Feline
3) By End User: Veterinary Clinics and Hospitals, Animal Farms, Home Care Settings
Subsegments:
1) By Endoparasiticides: Anthelmintics, Antiprotozoals, Anticestodals
2) By Ectoparasiticides: Insecticides, Acaricides, Larvicides
3) By Endectocides: Macrocyclic Lactones, Imidazothiazoles, Spinosyns
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What regions are leading the charge in the animal parasiticides market?
North America was the largest region in the animal parasiticides market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the animal parasiticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the animal parasiticides market?
Major companies operating in the animal parasiticides market are Merck & Co. Inc., Bayer AG, Sanofi SA, Boehringer Ingelheim GmbH, Zoetis Inc., Elanco Animal Health Inc., Ceva Sante Animale S.A., Virbac SA, Dechra Pharmaceuticals plc, Phibro Animal Health Corporation, Vetoquinol SA, Norbrook Laboratories Limited, Neogen Corporation, Indian Immunologicals Ltd., Krka dd Novo Mesto, Bimeda Inc., The Chanelle Group, ECO Animal Health Group plc, Zydus Animal Health and Investments Ltd., Kyoritsu Seiyaku Corporation
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What Is Covered In The Animal Parasiticides Global Market Report?
•Market Size Forecast: Examine the animal parasiticides market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the animal parasiticides market for a structured understanding.
•Key Players Overview: Analyze major players in the animal parasiticides market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the animal parasiticides market.
•Segment Contributions: Evaluate how different segments drive overall growth in the animal parasiticides market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the animal parasiticides market.
•Industry Challenges: Identify potential risks and obstacles affecting the animal parasiticides market.
•Competitive Landscape: Review strategic developments in the animal parasiticides market, including expansions, agreements, and new product launches.
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