Latin America Animal Parasiticides Market Size (2022 to 2027)
The size of the Latin American Animal Parasiticides Market was worth USD 0.74 Billion in 2022. It is further expected to grow at a CAGR of 5.5% and worth USD 0.97 Billion by 2027.
Animal parasiticides are the medicines used to treat animals who are attacked by parasites. These substances are present on the skin of animals and generally stay inert. They are formed by mixing different ingredients with each other. Most of the ingredients which form a parasiticide are of similar structures and thus share many common characteristics. They are grouped depending on their chemical structure. The animal parasiticides have a significant place in the animal healthcare sector as they are responsible for protecting animals from parasitic diseases. The market shows a decent amount of potential for growth during the forecasting period. It is expected to expand with the development of animal healthcare.
The gradual stabilizing of the economy, increase in expenditure for the healthcare of animals, increasing the popularity of adopting pet animals, and growing awareness about the quality of animal products are considered to be the factors that fuel the growth of the Latin American Animal Parasiticides market. However, the increasing trend for vegetarian and vegan lifestyles combined with strict regulation on animal parasiticides are some challenges faced by the Latin American animal parasiticides market. Developing companies like Brazil and Mexico are undergoing developments in the animal healthcare sector and thus are expected to grow in future years.
This research report on the Latin American Animal Parasiticides Market has been segmented and sub-segmented into the following categories:
By Animal type:
Some of the companies playing a leading role in the Latin American animal parasiticides market profiled in the report are Sanofi S.A. (Merial), Ceva Sante Animale, Virbac SA, Vetoquinol S.A., Eli Lilly and Company, Zoetis Inc., Merck & Co Inc., Bayer AG, Boehringer Ingelheim GmbH and Perrigo Co. plc.
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