The global animal parasiticides market accounted for US$ 9.5 billion in 2020 and is estimated to be US$ 17.4 billion by 2029 and is anticipated to register a CAGR of 7.0%
The report “Global Animal Parasiticides Market, By Type (Ectoparasiticides, Endoparasiticides, and Endectocides), By Animal Type (Companion Animals and Food-producing Animals), By End-user (Veterinary Hospitals & Clinics, Animal Farms, and Home Care Settings), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
- In Febrauary 2020, Zoetis announced that the U.S. Food and Drug Administration (FDA) has approved Simparica TrioTM (sarolaner, moxidectin, and pyrantel chewable tablets), the first once-monthly, chewable tablet in the U.S. that delivers all-in-one protection from heartworm disease, ticks and fleas, roundworms and hookworms. This combination product builds on the trusted legacy of Simparica (sarolaner) Chewables and exemplifies Zoetis’ dedication to innovation in parasiticides.
- In August 2019, Elanco Animal Health Inc. clinched the purchase of Bayer AG’s animal-health unit in a deal valued at US$7.6 billion, creating one of the biggest stand-alone veterinary-medicine companies in the world.
Increasing awareness about animal healthcare across the globe is projected to register a significant growth for the global animal parasiticides market over the forecast period. Additionally, accelerating number of livestock animals for the purpose of food production in developing economies is leading to growing demand of animal healthcare products, which is also motivating the growth of the global market. A growth in the animal healthcare expenditure for animal welfare to enhance the health of livestock animals is further propelling the overall animal parasiticides market. Besides, growing adoption of companion animals in the established economies also expected to positively influence the animal parasiticides market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Animal Parasiticides Market”, By Type (Ectoparasiticides, Endoparasiticides, and Endectocides), By Animal Type (Companion Animals and Food-producing Animals), By End-user (Veterinary Hospitals & Clinics, Animal Farms, and Home Care Settings), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029
Key Market Insights from the report:
The global animal parasiticides market accounted for US$ 9.5 billion in 2020 and is estimated to be US$ 17.4 billion by 2029 and is anticipated to register a CAGR of 7.0%. The market report has been segmented on the basis of type, animal type, end-user, and region.
- By type, ectoparasiticides segment estimated for the highest share of the animal parasiticides market in 2019. This is mainly attributed due to growing popularity of these products and the rising number of parasitic and zoonotic infections due to external parasites.
- By animal type, companion animals estimated for the highest share of the animal parasiticides market in 2019, owing to the rising adoption of pets and growing incidences of zoonotic infections in companion animals.
- By end-user, the veterinary hospitals & clinics segment estimated for the highest share of the market, owing to the growing awareness about animal health and the increasing number of veterinarians and paraveterinarians.
- By region, European market is the projected to account the major share into the target market. The increased awareness among the people regarding the animal health and the increment in the number of pet animals is driving growth of the global market in this region.
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The prominent player operating in the global animal parasiticides market includes Sanofi S.A. (Merial), Virbac SA, Ceva Sante Animlae, Eli Lilly and Company, Vetoquinol S.A., Zoetis Inc., Merck & Co Inc., Bayer AG, Boehringer Ingelheim GmbH and Perrigo Co. plc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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