Animal Parasiticides Market to Register 5.9% CAGR Amid Rising Risk of Parasitic Infection from Pests & Insects

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Aug 23, 2022, 08:00 ET

East Asia to be the Hotspot for Animal Parasiticides Companies; North America Retains Dominance with 3/10^th of Revenue Share

Fact.MR's latest report on the animal parasiticides market provides a 6-year forecast through 2020 & beyond. The report further explicates crucial dynamics such as drivers, challenges, and opportunities shaping the market. To present the information in a vivid way, the report is segmented into product and species across 5 key regions.

NEW YORK, Aug. 23, 2022 /PRNewswire/ -- The global animal parasiticides market is anticipated to grow at a CAGR of 5.9% during the forecast period (2020-2026). Growth is underpinned by rising demand for livestock protection and surging research and development into parasitic disease eradication.

Emergence of vector-borne diseases and expansion of biotechnology industry is facilitating the demand for animal parasiticides. Further, increased research on genetically engineered pills, sprays, and vaccinations is another factor pushing the demand.

Additionally, growing demand for animal healthcare products as a result of the increased number of livestock animals raised for food production in emerging nations is fueling the expansion of market for animal parasiticides. Further, changing climatic condition have resulted in an increased population of pets and insects.

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Consequently, the risk of parasitic infections and diseases such as amoebic dysentery is expected to surge. Backed by these factors, sales in the market are projected to rise, reaching a valuation of US$ 8.9 billion through 2022.

Regionally, North America is expected to dominate the global animal parasiticides market due to growing adoption of companion animals in the U.S. and Canada. As per the study, the region is anticipated to contribute over 3/10^th of demand share in the global market.

Key Takeaways:

The market for animal parasiticides is anticipated to have moderate growth at a CAGR of 5.9% during 2020-2026
Based on product type, ectoparasiticides are expected to grow at a 6.1% CAGR over the assessment period.
Endoparasiticides segment is anticipated to showcase rapid growth throughout the projection period, registering a CAGR of 5.7%.
North America is expected to vanguard the sales in the global market, with sales increasing at a CAGR of 5.6%
East Asia is expected to be the second-most lucrative animal parasiticides market, accounting for 1/5^th of market share.

Growth Drivers:

Rising adoption of companion animals in the U.S. and India will fuel market expansion for animal parasiticides.
Increasing expenditure on veterinary care is anticipated to support the growth in the market.
Growing prevalence of zoonotic diseases is set to create conducive environment for the key players.
Favorable regualtions pertaining to the safety of companion animals and to crub animal diseases will propel the growth.

Restraints:

The strict licensing procedure for animal parasiticides is anticipated to impede the growth in the market
Preference for vegetarian diets and foods might decrease demand for food derived from animals, hampering the growth.

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Competitive Landscape:

As per Fact.MR, top five companies are leading the highly consolidated global animal parasiticides market including, Boehringer Ingelheim GmbH, Ceva Sante Animale, Elanco Animal Health, Merck Animal Health, and Zoetis, Inc.

These businesses are extensively investing in research and development in order to provide high-quality medications, vaccines, diagnostic tools, and genetic testing.

For instance,

In February 2020, The FDA approved Simparica TrioTM, a brand-new combination canine parasite prevention medicine from Zoetis Inc. This medication is the first monthly chewable to provide comprehensive protection against heartworm infections, ticks, fleas, and roundworms. It is the country's first canine combination isoxazoline formula.
In January 2020, The organization's piglet vaccination earned the 2019 animal farm prize. This was given for its PORCILIS® Lawsonia Vaccine for Piglets, which guards against the bacterial strain lawsonia intracellularis, which causes the digestive illness ileitis.
Merck Animal Health is a company producing medications for companion animals, equines, pigs, poultry, and aquaculture. ACTIVYL for flea infestation prevention, POSATEX and MOMETAMAX for the treatment of bacterial ear infections, and VETSULIN for the management of diabetic mellitus in dogs and cats are some of the company's products.

Key Companies Profiled by Fact.MR

Sanofi S.A. (Merial)
Ceva Sante Animlae
Virbac SA
Vetoquinol S.A.
Eli Lilly and Company
Zoetis Inc.
Merck & Co Inc.
Bayer AG
Boehringer Ingelheim GmbH
Perrigo Co. plc
Others

More Valuable Insights on Animal Parasiticides Market

In the latest study, Fact.MR offers a detailed study on global animal parasiticides market for the forecast period of 2020 to 2026. This study also highlights key drivers promoting the sales of animal parasiticides through detailed segmentation as follows:

By Product :

Ectoparasiticides:

Oral Tablets
Dips
Spray
Spot-on
Others

Endoparasiticides:

Oral Suspension
Injectable
Feed Additives
Others

Endectocides

By Species :

Food-Producing Animals:

Cattle
Poultry
Swine
Others

Companion Animals:

Dogs
Felines
Others

Other Livestock

By Regions :

North America
Europe
Asia Pacific (APAC)
Latin America
Middle East & Africa (MEA)

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Key Questions Covered in the Animal Parasiticides Market Report

What is the projected value of the animal parasiticides market in 2020?
At what rate will the global animal parasiticides market grow until 2026?
Which are the factors hampering the growth in the animal parasiticides market?
Which region is expected to lead in the global animal parasiticides market during 2020-2026?
Which are the factors driving the animal parasiticides market during the forecast period?
What is the expected market value of the animal parasiticides market during the forecast period?

Explore Fact.MR's Coverage on the Animal Healthcare Domain

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Animal Pregnancy Test Kits Market: The demand and supply of animal pregnancy test kits has been sparked by the livestock industry's growing concern over the reproductive efficiency of animals. It is projected that rising interest in and spending on veterinary treatment for animals in emerging nations would boost demand for animal pregnancy test kits.

Animal Probiotics Market: Advent of advanced technology related to molecular biology and gene sequencing is one of the primary factor attributing to the growth in the market. The rise in the demand for high-quality animal products is another factor expected to drive the growth of the animal probiotics market during the forecast period (2022-2032).

Animal Model Market: The animal model market is expected to be worth US$ 1.7 Billion in 2022, rising to US$ 2.9 Billion by 2032, documenting a CAGR of 5.5% from 2022 to 2032. Innovative therapies to surge up market growth.

Animal Feed Probiotics Market: Sales of animal feed probiotics recorded 5.9% growth in the last half-decade, where regions such as North America, Asia Pacific excluding Japan, and the Middle East contributed to the largest demand on the back of increasing meat consumption as well as growing consumer awareness regarding quality and safety of meat products.

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