Animal Parasiticides Market worth $8,464.6 Million by 2018
DALLAS, May 1, 2014 /PRNewswire/ --
According to new market research report "Animal Parasiticides Market by Product (Endoparasiticides, Ectoparasiticides, Endectocides, Oral Liquids, Tablets, Injectables, Sprays, Pour On, Spot On, Collars, Ear Tags), Animal (Dogs, Cats, Cattle, Pigs, Sheep & Goats) - Global Forecast to 2018", published by MarketsandMarkets, The market was valued at $6,509.1 Million in 2013 and is expected to grow at a moderate CAGR of 5.4% from 2013 to 2018.
Browse 151 market data tables 41 figures spread through 306 pages and in-depth TOC on "Animal Parasiticides Market"
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This report studies the global Animal Parasiticides Market over the forecast period of 2013-2018. The market is segmented by product type, animal type, and geography. It also discusses the key market drivers, restraints, and opportunities of this market and its submarkets.
The global Animal Parasiticides Market has experienced steady growth in the past few years attributed to the rising awareness about zoonotic diseases; growing investment activities from governments, non-government agencies, and major market players; increasing demand for protein rich food; worldwide regulations for prevention of the spread of animal diseases; implementation of animal welfare acts in developed countries; availability of new broad spectrum parasiticides product offerings from key market players, and growing trend towards adoption of pet animals such as cats and dogs, especially in the developing countries across APAC and Latin American region. However, stringent regulations for approval of animal parasiticides, expensive and time consuming R&D activities to develop a new product, restrictions on the use of parasiticides in food producing animals, restriction on the use of some parasiticides in certain countries are some of the major challenges to the growth of the Animal Parasiticides Market during the forecast period of 2013 to 2018.
In 2013, Europe was a major market for global animal parasiticides in 2013 with a share of around 25% to 30% of the global market, followed by North America, Rest of the World, and Asia-Pacific. Increasing companion animal population coupled with the positive trend towards animal health spending has led to the large market share of the European and North American Animal Parasiticides Market. However, the Asia-Pacific and Latin America regions represent the highest growth opportunity for the Animal Parasiticides Market during the forecast period of 2013 to 2018. The Animal Parasiticides Market in APAC and Latin America regions is expected to grow at a CAGR of 6% to 7% during the forecast period. The growth in this market is driven by increasing livestock and companion animal population in the region, growing awareness about animal health, and rising per capita expenditure on animal health.
Some major players in the Animal Parasiticides Market are Merial (Sanofi) (France), Bayer AG (Germany), Zoetis, Inc. (U.S.), Novartis AG (Switzerland), Merck & Co., Inc. (U.S.), Eli Lilly and Company (U.S.), Ceva Sante Animlae (France), Virbac SA (France), Boehringer Ingelheim (Germany), and Vetoquinol (France), among others.
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