Animal Parasiticides Market is Anticipated to Reach USD 15.6 billion, at a CAGR of 5.7% CAGR by 2031 - Report by Transparency Market Research Inc.

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Dec 12, 2023, 06:30 ET

Implementation of seasonal awareness campaigns encourages timely parasite control, impacting market dynamics positively.

WILMINGTON, Del., Dec. 12, 2023 /PRNewswire/ -- The global animal parasiticides market is estimated to flourish at a CAGR of 5.7% from 2023 to 2031. According to Transparency Market Research, sales of animal parasiticides are slated to total US$ 15.6 billion by the end of the aforementioned period of assessment.

Evolving regulations on livestock and pet care drive the market. Stricter compliance measures and guidelines for parasite control spur the development of new formulations and treatment approaches. Increasing recognition of the interconnection between human, animal, and environmental health prompts a collaborative "One Health" approach. This drives the demand for parasiticides to prevent zoonotic diseases, benefiting animals and humans.

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Animal Parasiticides Market Report Scope:

Report Coverage	Details
Forecast Period	2023-2031
Base Year	2022
Size in 2022	US$ 9.4 Bn
Forecast (Value) in 2031	US$ 15.6 Bn
Growth Rate (CAGR)	5.7 %
No. of Pages	281
Segments covered	Product, Species

Expansion into untapped markets in developing regions presents opportunities. Growing urbanization, rising disposable income, and improved awareness about animal health amplify the demand for effective parasiticides.

Advancements in understanding animal microbiomes shape new strategies for parasite control. Harnessing microbiome knowledge leads to innovative approaches like probiotics and microbiota-based parasiticides for preventive care. Exploration of novel delivery systems, such as transdermal patches or wearable technology for sustained release, enhances convenience and compliance, revolutionizing parasite treatment methodologies.

Key Findings of the Market Report

Spot-on treatments and oral tablets dominate the animal parasiticides market, offering efficient and convenient solutions for parasite control in animals.
Food-producing animals, particularly cattle, poultry, and swine, lead the animal parasiticides market due to their extensive agricultural significance.
North America leads the animal parasiticides market due to advanced research, stringent regulations, and robust veterinary healthcare infrastructure.

Animal Parasiticides Market Growth Drivers & Trends

Focus on novel formulations to combat parasite resistance, driving research for innovative and effective parasiticides in animal health management.
Growing demand for environmentally sustainable parasiticides promotes the development of safer and greener alternatives, aligning with eco-conscious consumer preferences.
Integrating advanced technologies like nanotechnology and sustained-release formulations for improved efficacy and longer-lasting parasiticidal effects.
Increasing livestock production and intensification globally drive the need for efficient parasite control methods, boosting the demand for parasiticides in the agriculture sector.
Rising pet ownership and increased awareness of zoonotic diseases emphasize preventive parasiticides, fostering a market shift towards preventative care in companion animal health.

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Global Animal Parasiticides Market: Regional Profile

North America, led by the United States, dominates the market, driven by robust research initiatives and stringent regulatory frameworks. Key players like Zoetis and Merck & Co. spearhead innovation, offering numerous parasiticides for companion and livestock animals.
With prominent markets in the UK, Germany, and France, Europe emphasizes sustainable and eco-friendly parasiticides. Bayer AG and Boehringer Ingelheim lead with advanced formulations, focusing on safety and efficacy.
The Asia Pacific witnesses rapid market expansion due to increasing pet adoption and demand for livestock products. Companies like Ceva Santé Animale and Virbac capitalize on this growth, offering affordable solutions tailored to regional needs. Government initiatives for animal health bolster market growth, fostering collaborations and driving technological advancements across the region.

Animal Parasiticides Market: Competitive Landscape

The animal parasiticides market highlights a competitive landscape driven by leading players like Zoetis, Bayer AG, and Boehringer Ingelheim. These key industry giants dominate with diverse portfolios of innovative parasiticides, from spot-ons and oral formulations to collars and injectables.

Intensified research in developing regions has empowered local players like Ceva Santé Animale and Elanco, fostering competition. Collaborations for novel formulations and acquisitions to expand product offerings characterize the market.

Evolving consumer demand for sustainable, effective, and safe parasiticides propels continuous innovation, driving competitiveness among established and emerging players in the global animal health sector. Some prominent manufacturers are as follows:

Bayer AG
Bimeda Animal Health
Boehringer Ingelheim GmbH
Ceva Sante Animale
Elanco (Eli Lilly and Company)
Merck & Co., Inc.
Vetoquinol
Zoetis, Inc.
Virbac
The Chanelle Group
Sunmitomo Chemical Co., Ltd.
Others

Product Portfolio

Vetoquinol offers a diverse portfolio of animal health products, encompassing pharmaceuticals, vaccines, and nutritional supplements. Their range focuses on enhancing the well-being of companion animals and livestock, reflecting a commitment to providing effective and innovative solutions for veterinarians and pet owners globally.
Zoetis, Inc. is a leader in animal health, delivering a comprehensive portfolio of pharmaceuticals, vaccines, and diagnostics for companion animals and livestock. Their innovative solutions aim to improve animal health, productivity, and well-being, supporting veterinarians, producers, and pet owners worldwide.
Virbac specializes in animal health, offering an extensive portfolio of pharmaceuticals, vaccines, and hygiene products for pets and livestock. Their commitment to innovative solutions and expertise ensures the health and welfare of animals, catering to the needs of veterinarians and animal owners globally.

Animal Parasiticides Market: Key Segments

By Product

Ectroparasiticides
- Oral Tablets
- Dips
- Sprays
- Spot-on
- Others
Endroparasiticides
- Oral Suspension
- Injectable
- Feed Additives
- Others
Endectocides

By Species

Food-producing Animals
- Cattle
- Poultry
- Swine
- Others
Companion Animals
- Dogs
- Felines
- Others
Other Livestock

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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