As per the research report, the size of the global animal parasiticides market is estimated to value USD 12.91 billion by 2027 from USD 9.73 billion in 2022, growing at a CAGR of 5.81% during the forecast period. The rise in the incidences of zoonotic diseases worldwide is majorly surging the growth of the global animal parasiticides market.
In veterinary pharmacies, animal parasiticides are the drugs used to improve the health of livestock. It also prevents some diseases by killing parasites in the body other than bacteria and fungi. The parasites are harmful to the animals in disease-causing and spread the disease quickly to other animals or humans.
MARKET DRIVERS:
increasing demand to raise the production rate of animal healthcare products, growing investments in veterinary hospitals by government and non-governmental institutes, the rise in the incidences of various health disorders in animals are expected to drive the global animal parasiticides market.
During the forecast period, increasing private sector investments, rising zoonotic disease concerns, regulations aimed at preventing the spread of animal diseases, the growth of the companion animal industry, and rising animal health expenditure are expected to propel the animal parasiticides market forward. Communities worldwide are calling for greater agricultural and animal-production sustainability as a result of climate change and the rising demand for high-quality animal products.
Several drugs and vaccines that are easily accessible to farmers have been produced to control parasitic infections. Benzimidazole, Levamisole, and Macrocyclic lactones, for instance, are readily available anthelmintic drugs for treating gut-type infections. Consumer awareness of improved veterinary care methods has raised the demand for advanced drugs, resulting in better growth opportunities for major market players over the forecast period.
In terms of global animal parasiticide market growth, Asia-Pacific is expected to maintain its dominance. The growing trend toward pet adoption has had a significant impact on the industry. Latin American regions have higher growth opportunities than the rest of the world. APAC and Latin America are expected to rise faster than the rest of the world due to rising GDP and per capita spending on animal health.
Growing tendency to provide quality treatment for the animals, increasing prevalence for the launch of new products with advanced technology, the rising demand to improve the quality of poultry products, and the rise in zoonotic diseases are other essential causes fuelling the need for animal parasiticides market.
MARKET RESTRAINTS:
However, fluctuations in the availability of raw materials in manufacturing the final products in the pharmaceutical companies are slowly restraining the market demand. Stringent rules and regulations by the government is another major factor hampering the growth rate of the animal parasiticides market.
One of the major challenges for players in this market is accounting for the diversity of parasitic species when developing successful medications and parasiticides. The demand for animal parasiticides in the Middle East and Africa is being challenged by an increase in the number of vegetarians and vegans and stringent limits on the acceptance of these medicines.
Impact of Covid-19 on the global animal parasiticides market:
COVID-19 is an unprecedented global public health crisis that has impacted almost every sector, with long-term consequences expected to stifle industry growth over the forecast period. Although human-to-human transmission of the COVID-19 virus has been confirmed, evidence of the virus infecting animals is limited. Domestic animals can become infected by the virus if they come into close contact with infected humans. It is supposed to have far-reaching ramifications for animal care and welfare. Leading players have ensured that their supply chains are not affected in terms of output. For example, Zoetis, Inc. has confirmed no direct effect on its anti-parasitic drug supply. The company is keeping a close eye on the situation and has taken a variety of preventative measures. Thus, the coronavirus pandemic has had little effect on the market for animal parasiticides. The industry is growing gradually, barring minor disruptions in raw material supplies. Animal parasiticides have been designated as essential products, ensuring a steady supply. To keep up with deliveries even during quarantines and lockdowns, manufacturers mainly invest in telework capabilities and improve distribution networks.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 to 2027 |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2027 |
|
Segments Analysed |
By Product Type, Animal Type, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global animal parasiticides market has been segmented and sub-segmented based on the product type, animal type, and region.
Animal Parasiticides Market – By Product Type:
Based on product type, Ectoparasiticides product type is holding the highest shares of the market. The increasing population of livestock is significantly influencing the demand of the market. Ectoparasiticides are very effective in treating the animals' disease with fewer side effects, which are also factors that level the market's growth. Growing investments in veterinary hospitals by private and public organizations are surging the demand of the market. The rise in the popularity of drugs and vaccines through campaigns and digital advertisements is also likely to outshine the growth rate of the animal parasiticides market.
Animal Parasiticides Market - By Animal Type:
Based on animal type, the Food-producing animal segment is witnessed in leading dominant shares of the market. The increasing consumption rate of meat and poultry products is the primary factor for growing extensively in this segment. Rising concern towards health care among individuals is also boosting up the demand of the market.
Animal Parasiticides Market - By Region:
Geographically, The animal parasiticides market in North America is accounted for the highest share of the global animal parasiticides 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 animal parasiticides market in 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.
The animal parasiticides market in Europe has the fastest growth rate from the past few years and maintains the same flow in foreseen years. Growing support from government organizations to prevent diseases from animals to humans is accelerating the market's growth in this region.
The animal parasiticides market in Latin America was worth USD 0.74 Billion in 2021. It is further expected to grow at a CAGR of 5.5% and worth USD 0.97 Billion by 2026.
The animal parasiticides market in the Middle East and Africa are inclined to have slight variations in the growth rate in the near future with the rise in awareness over the manufacturing of drugs and vaccines effectively.
KEY MARKET PARTICIPANTS:
Some of the most promising companies operating in the global animal parasiticides market profiled in this report are Sanofi (France), Ceva Sante Animale (France), Virbac (France), Vetoquinol S.A. (France), Eli Lilly and Company (U.S.), Zoetis, Merck and Co., Bayer AG (Germany), Boehringer Ingelheim (Germany), Perrigo Company plc (Ireland).
RECENT MARKET HAPPENINGS:
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
11.Appendix
a) List of Tables
b) List of Figures
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