Global Animal Parasiticides Market to accrue $340 Mn by 2025

September 24, 2019

According to the latest research report titled ‘Global Animal Parasiticides Market Insights, Forecast to 2025’ available with Market Study Report LLC, the global animal parasiticides market is projected to accrue US $340 million by the year 2025.

Animal parasiticide is an element used as medicine in medical and veterinary field.  The product is known to kill parasites other than fungi and bacteria. Growing concern regarding animal health will augment the animal parasiticides market growth.

As per the report, the animal parasiticides market is driven by various factors such as advancement in medicines, renovation of healthcare facilities, and rising expenditure for animal health. Growing competition in the market is compelling the players around the globe to launch new products in order to win an edge over their competitors.

Though the product is witnessing widespread adoption, the prevalence of outdated manufacturing units and strict regulations towards drug access will hamper the animal parasiticides market growth in the upcoming years.

The report also focuses on the pricing trend of the animal parasiticides market. The product price shows a declining curve over the past years and is presumed to follow the same trend over the analysis period, thereby fueling the market growth.

Moreover, the animal parasiticides market is segmented on the basis of product type as endoparasiticides, endectocides, and ectoparasiticides. While based on the end-use spectrum, the market is fragmented as dogs/cats, swine, equine, poultry, and cattle.

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 The global animal parasiticides market was worth  US $260 million in 2018 and is predicted to grow with a CAGR of 4.1% over the forecast period. This report provides an in-depth understanding about the market drivers, opportunities and challenges.

Based on the regional landscape, the animal parasiticides market is segmented into five major regions including Middle East & Africa, Asia Pacific, Europe, North America and Central & South America.

Additionally, the key players in the animal parasiticides market comprise of Merck, Virbac, Vetoquinol, Boehringer Ingelheim, Bimeda Animal Health, and Bayer among others.

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