Summary

The market for animal parasiticides is anticipated to grow from USD 10.6 billion in 2022 to USD 14.1 billion in 2027, at a CAGR of 5.8% over the forecast period. The market for animal parasiticides is expanding as a result of factors like the rising demand for food products made from animals, growing private player investments, laws aimed at preventing the spread of animal diseases, and rising costs for animal health care. During the projected period, regulations on the use of parasiticides on animals used for food production and a move toward vegetarianism will likely hamper the growth of this market.

“ectoparasiticides segment was dominated by the highest share in animal parasiticides market”
The animal parasiticides market is divided into endoparasiticides, ectoparasiticides, and endectocides based on type. The ectoparasiticides segment accounted for the highest share of the global animal parasiticides market in 2021. The high adoption of ectoparasiticides relative to other products is responsible for the huge proportion of this market. The rise in ownership of animals and the number of companion animals in developed nations are additional factors that are anticipated to promote market expansion throughout the projected period.

"Companion animals segment is accounted for highest market share in the forecast period."
The market for animal parasiticides is divided into divisions for companion animals and livestock animals based on the animal type. The companion animals was the largest segment of the global market for animal parasiticides in 2021. Companion animals accounted for the largest share of the global animal parasiticides market in 2021. The significant market share of this sector is largely due to the rising costs of keeping pets and the rise in the number of people who own companion animals in developed countries.

“Veterinary clinics & hospitals segment is expected to witness the fastest growth in the forecast period.”
Animal farms, veterinary clinics & hospitals, and home care settings comprise the end-user segments of the market for animal parasiticides. The fastest growing market for animal parasiticides in 2021 was held by veterinary clinics and hospitals. The increased use of animal parasiticides in medical settings, the rise in parasitic illnesses, and the rising concern over animal health in developing nations are all factors that contribute to the fastest growth of this segment.


"Latin America is expected to witness the fastest growth in the forecast period."

In the forecast period, Latin America in the animal parasiticides market will have the fastest rising regional growth. Rising numbers of companion and food-producing animals, as well as the region's rising demand for food items generated from animals, are the main factors driving market growth. Several countries in Latin America are significant suppliers of beef to the global market. China has been recognized as the primary market for Brazilian beef exports, despite an increase in volume and overall value over the previous year. In the upcoming years, it is anticipated that a rise in beef exports from Latin American nations would support a rise in the market for animal parasiticides in this area.

Following is a list of the major players (supply-side) in the animal parasiticides market that this study refers to:

By Company Type: Tier 1- 34%, Tier 2- 46%, and Tier 3- 20%

By Designation: C-level- 35%, Director Level—25%, and Others- 40%

By Region: North America-30%, Europe-45%, Asia Pacific-20%, Latin America- 3%, and Middle
East and Africa-2%

Several of the major companies in the market for animal parasiticides include Zoetis Inc. (US), Elanco Animal Health Incorporated (US), Virbac (France), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Ceva Santé Animale (France), Vetoquinol S.A. (France), PetIQ, Inc. (US), Norbrook (Ireland), and Bimeda Animal Health (Ireland).

Research Coverage:

The market study analyzes the main market segments for animal parasiticides. The objective of this study is to estimate the market's size and growth potential across several categories according to kind, animal type, end user, and region. The report also provides a thorough competition analysis of the major market participants, together with company profiles, major insights regarding their product and service offerings, recent advancements, and key market strategies.

Key Benefits of Buying the Report:
The study provides data regarding the animal parasiticides market's closest approximations and its segments, which will benefit market leaders and new entrants. This study will assist stakeholders in comprehending the competitive environment, obtaining insights to better position of their businesses, and developing appropriate go-to-market strategies. The research will also assist stakeholders in obtaining insights into the market's pulse and learning about its major drivers, inhibitors, opportunities, and problems.



The report provides insights on the following pointers:
Analysis of key drivers (Rising demand for animal-derived food products, Growing prevalence of animal diseases, Regulations for preventing spread of animal diseases), restraints (Regulations restricting use of parasiticides for food-producing animals), opportunities (Lucrative growth opportunities in emerging markets), and challenges (Stringent regulatory approval process for drugs) influencing the growth of the Animal parasiticide market.


Product Development/innovation:
Comprehensive details on new technologies, R&D initiatives, and product and service launches for animal parasiticides market

Market Development:
Comprehensive data on attractive markets, and the research analyzes the global animal parasiticides market.

Market Diversification:
Detailed information on emerging products and services, unexplored regions, current trends, and investments in the animal parasiticide market.

Competitive Assessment:
Comprehensive analysis of market shares, growth plans, and service offerings of major companies operating in the animal parasiticide market like Zoetis Inc. (US), Elanco Animal Health Incorporated (US), Virbac (France), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Ceva Santé Animale (France), Vetoquinol S.A. (France), PetIQ, Inc. (US), Norbrook (Ireland), and Bimeda Animal Health (Ireland).