Global Animal Parasiticides Market to surpass $7 Bn by 2025

January 08, 2020


According to the recent study titled ‘Animal Parasiticides Market Size By Product (Ectoparasiticides {Sprays, Dips, Collars, Pour-ons and Spot-ons, Ear Tags}, Endoparasiticides {Injectables, Orals, Feed Additives}, Endectocides], By Animal Type (Farm Animals, Companion Animals), Regional Outlook (U.S., Canada, Germany, UK, Spain, Italy, France, Poland, Russia, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global animal parasiticides market is expected to accumulate over US $7 billion by the year 2025.
 

Rising prevalence of zoonotic diseases, along with its rising awareness is promoting the use of animal parasiticides to ensure animal health. Increasing trend of adopting companion animals, higher demand of animal derived food products, and surging disposable income are augmenting the market outlook.
 

Furthermore, availability of well-paid and skilled veterinary practitioners, along with numerous government initiatives to control the spread of zoonotic diseases among farm animals and pets will aid the expansion of animal parasiticides market. Other propelling factors include inflow of R&D grants for advancement in the field. However, high cost of these research & development activities, strict approval procedures, and restricted use of parasiticide will hamper the business scenario.
 

Based on product landscape analysis, ectoparasiticides market segment is projected to accrue US $2.8 billion by the year 2025, on account of rising popularity of sprays, pour-ons, and spot-ons. These products are highly effective as compared to their counterparts. On the contrary, endectocides segment will record substantial demand in the upcoming years, owing to the dual functionality of these products.
 

In terms of animal type, animal parasiticides market from farm animal segment is anticipated to grow with a CAGR of 4.6% during 2019-2025. Surging consumption of meat, animal protein, and other animal derived products is compelling the farmers to adopt animal parasiticides to protect animals from zoonotic diseases. This factor coupled with rising animal medical expenditure is boosting the segmental growth.
 

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Considering the geographical outlook, the United States animal parasiticides market contributed significantly towards the revenue with 20% share in 2018, cites the report. The growth of animal farming industry, in tandem with rising adoption of pets are responsible for the regional market growth. Other factors aiding the US market trends are high disposable income, spike in the number of veterinary practitioners, and increasing animal healthcare expenditure.
 

The prominent contenders of animal parasiticides market are Perrigo Company PLC, Boehringer Ingelheim, Vetoquinol, Elanco, Ceva Sante Animale, Bayer, Zoetis, Virbac, and Merck among others.


Frequently Asked Questions (FAQ) :

Rising prevalence of zoonotic diseases, along with its rising awareness is promoting the use of animal parasiticides to ensure animal health. Increasing trend of adopting companion animals, higher demand of animal derived food products, and surging disposable income are augmenting the market outlook. Furthermore, availability of well-paid and skilled veterinary practitioners, along with numerous government initiatives to control the spread of zoonotic diseases among farm animals and pets will aid the expansion of animal parasiticides market. Other propelling factors include inflow of R&D grants for advancement in the field.
Factors like high cost of research & development activities, strict approval procedures, and restricted use of parasiticide will hamper the growth of animal parasiticides market in the coming years.
The United States animal parasiticides market contributed significantly towards the revenue with 20% share in 2018 and is slated to exhibit a similar stance over 2019-2025, cites the report. The growth of animal farming industry, in tandem with rising adoption of pets are responsible for the regional market growth. Other factors aiding the US market trends are high disposable income, spike in the number of veterinary practitioners, and increasing animal healthcare expenditure.
The prominent contenders of animal parasiticides market are Perrigo Company PLC, Boehringer Ingelheim, Vetoquinol, Elanco, Ceva Sante Animale, Bayer, Zoetis, Virbac, and Merck among others.