As per the research report, the size of the Global Animal Parasiticides Market valued in USD 9.2 billion in 2019 and estimated to be growing at a CAGR of 5.81%, to reach USD 12.2 billion by 2024. The market has significant potential during the forecasting period. It will continue to expand with the recent increase in awareness about animal health.
Animal parasiticides are the animal medicines that remove all the parasites apart from fungi and bacteria present on animals. They are usually non-reactive ingredients mixed all together and may contain many different ingredients. Most parasitical ingredients are of the same chemical structures and share some characteristics. Many times, they are classified into chemical categories or families. The animal parasiticides are regarded as important for protection and cure of the parasitic diseases.
Market Drivers
The ever-increasing number of livestock animals for the production of food in developing economies is resulting in the demand for animal healthcare products thus fuelling the growth of the animal parasiticides market. Escalating expenditure on animal healthcare and growing domestication of companion animals are the factors responsible for the growth of this market.
Key Challenge
However, increasing popularity for a vegetarian or vegan diet along with strict regulations on the approval for animal parasiticides are the constraints that hamper the growth of the animal parasiticides market.
Opportunities
Increasing demand to raise the production rate of the animal healthcare products across the world is considered to be major factor driving the growth of the market. Rise in the incidences of various health disorders in animals is also propelling the growth rate of the animal parasiticides market. Growing tendency to provide quality treatment for the animals is lucratively expanding the demand of the market. The rise in support from the government is merely to set up growth opportunities for the market. Increasing prevalence to take care of animals and rise in the zoonotic diseases is creating a chance for the market to grow eventually.
Key Recent Market Developments:
This research report on the Global Animal Parasiticides Market has been segmented and sub-segmented into the following categories and calculated market size and forecast to each segment until 2024.
Animal Parasiticides Market Analysis – By Product
Based on the product, Ectoparasiticides product type is holding the highest shares of the market. The increasing population of livestock is greatly influencing the demand of the market. Ectoparasiticides are very effective in treating the disease of the animals with fewer side effects which are also a factor leveling up the growth of the market. Growing investments in veterinary hospitals by private and public organizations are surging the demand of the market. Rise in the popularity over the drugs and vaccines through campaigns and digital advertisements is also likely to outshine the growth rate of the animal parasiticides market.
Animal Parasiticides Market Analysis - By Animal Type
By animal type, Food-producing animals segment is witnessed in leading dominant shares of the market. The increasing consumption rate of meat and poultry products is the primary factor for the market to grow extensively in this segment. Rising concern towards health care among individual is also boosting up the demand of the market.
Animal Parasiticides Market Analysis – By Region
North America is accounted for in ruling the highest shares of the market with the acceptance of advanced technology in launching various products that are highly successful in treating the external or internal parasites in animals. The Asia Pacific is positioned second in leading dominant shares of the market. Increasing expenditure on animal health care is gearing up the demand for the animal parasiticides market. Europe is having the fastest growth rate from the past few years and is also to maintain the same flow in foreseen years. Growing support from government organizations to prevent the spread of diseases from animals to humans is accelerating the growth of the market in this region. The Middle East and Africa are inclined to have slight variations in the growth rate in the near future with the rise in the awareness over the manufacturing of drugs and vaccines effectively.
Some of the most promising companies operating in the Global Animal Parasiticides Market profiled in this report are:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Ectoparasiticides
5.1.3 Endoparasiticide
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2 Animal Type
5.2.1 Introduction
5.2.2 Food-producing Animals
5.2.3 Companion Animals
5.2.4 Y-o-Y Growth Analysis, By Animal Type
5.2.5 Market Attractiveness Analysis, By Animal Type
5.2.6 Market Share Analysis, By Animal Type
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Animal Type
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Animal Type
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Animal Type
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Sanofi
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Ceva Sante Animale
8.3 Eli Lilly and Company
8.4 Zoetis Inc.
8.5 Merck and Co.
8.6 Bayer AG
8.7 Boehringer Ingelheim
8.8 Perrigo Company Plc
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
