Global Animal Parasiticides Market - Analysis By Product Type, Animal Type, Distribution Channel, By Region, By Country (2020 Edition): Market Insight, COVID-19 Impact, Competition and Forecast (2020-2025)
NEW YORK, May 4, 2020 /PRNewswire/ --
Executive Summary
The Global Animal Parasiticides Market valued at USD 9220.5 million in the year 2019 has been witnessing moderate growth over the forecast period due to the increasing awareness about animal healthcare worldwide. Besides, escalating number of livestock animals for the purpose of food production in emerging economies is leading to a rising demand of animal healthcare products, which also drives the growth of the global animal parasiticides market. An increase in the animal healthcare expenditure for animal welfare to improve the health of livestock animals is further fuelling the overall animal parasiticides market. Furthermore, increasing adoption of companion animals in the developed economies also anticipated to positively influence the animal parasiticides market.
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Among the Product Type segment in the Animal Parasiticides market (Endoparasiticides, Ectoparasiticides and Endectocides), Ectoparasiticides are expected to show high growth over the forecast period due to the increasing use of ectoparasiticides for the treatment of insect infestation in animals and growing investment in the development of new veterinary products that will elevate the growth of the market. Some of the major oral chewable ectoparasiticides tablets to control ticks and fleas in the companion animals are NexGard, Bravecto and Simparica.
Based on Animal Type (Farm Animals and Companion Animals), Farm Animals dominates the market share in year 2019 and is also expected to show dominance during the forecast period, owning to rising demand of animal food and growing concern for quality in meat and other animal products. Furthermore, increasing consumption of animal by-products and growing investment in animal healthcare expenditure will augment the market growth. The factors driving the growth of the segment are rising demand of animal food products, greater concerns of parasite control in these animals, and the growing population of farm animals.
Based on Distribution Channel (Veterinary Hospitals, Veterinary Clinics and Pharmacies & Drug Stores), Pharmacies and Drug Stores dominates the market share in year 2019 and is also expected to show dominance during the forecast period, owning to the growing concerns on health and wellness of companion and livestock drive the market growth for pharmacies segment. Also, rising disposable income of individuals and the technological advancement in the diagnostic instruments in veterinary care to cater health of their pets will augment industry growth during the forecast period.
The Europe market is estimated to be the leading market for animal parasiticides during the forecast period with Germany being the leading country in the region followed by France, United Kingdom and Italy. Growing expenditure on healthcare of animal and increasing adoption of pet animals are the factors responsible for growth of Europe Animal Parasiticides market. Nominal approval regulations and easy availability of the products in the region owing to the presence of major animal health companies in the region are the major factors driving the growth of the market.
However, the COVID-19 pandemic that emanated from China and spread across the world will have major implications on the animal health and parasiticides market. This is because of the complete lockdown, stagnated economies and restrictions in movement of non-essential goods.
Scope of the Report
• The report analyses the Animal Parasiticides market By Value.
• The report analyses the Animal Parasiticides market by Product Type (Endoparasiticides, Ectoparasiticides, Endectocides).
• The report assesses the Animal parasiticides market by Animal Type (Farm Animals and Companion Animals).
• The report assesses the Animal parasiticides market by Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores).
• The Global Animal Parasiticides Market has been analysed by Region (North America, Europe, Asia Pacific) and by Country (United States, Canada, Germany, Italy, France, United Kingdom, India, China, Japan, South Korea)
• Also, the attractiveness of the market has been presented by region, product type, animal type and distribution channel. Also, the trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, key developments in the market, new product development and recent industry developments. The companies analysed in the report include Zoetis Inc., Merck & Co., Elanco Animal Health, Boehringer Ingelheim, Bayer, Eli Lilly and Company, Virbac, CEVA SANTE ANIMALE, Perrigo and Vetoquinol Global.
• The report presents the analysis of Animal Parasiticides market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
• Animal Parasiticide Vendors
• Consulting and Advisory Firms
• Government and Policy Makers
• Investment Banks and Equity Firms
• Regulatory Authorities
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