Animal Parasiticides Market Overview
The Global Animal Parasiticides Market is expected to register a CAGR of 5.4% from 2019 to 2024 and reach USD 12.4 billion by the end of 2024. Animal Parasiticides Market are used to restrict parasitic attacks on livestock, which helps in boosting immunity and overall health of animals. Additionally, animal parasiticides market is observing an exponential growth based on the high usage in the feed industry. Animal parasiticides are available in three different forms and they are which include ectoparasiticides, endoparasiticides, and endectocides.
Global Animal parasiticides Manufacturers Market are one of the sources used for improving livestock health. Growing demand for animal-derived food products and growth in the awareness about animal transmitted diseases enables the global animal parasiticides market for growth during the forecast period. Additionally, increased consumer focus on improving animal health is boosting the market growth. Additionally, government regulations to support the use of parasites in animal medicinal formulations, in Europe, North America, and few regions of Asia Pacific has been projected to boost the animal parasiticides market growth.
Moreover, in North America, increasing awareness of animal protein and inclination of consumer preference towards meat consumption are driving the growth of the market. Owing to the increased consumer awareness and availability of latest technology equipment, North America is expected to dominate the animal parasiticides market. However, lack of consumer awareness regarding animal parasiticides and increasing number of new entrants in the industry are the major challenges to this market.
The major players in Animal Parasiticides Market
- Eli Lilly and Company Limited (U.K)
- Boehringer Ingelheim GmbH (Germany)
- Bayer Aktiengesellschaft (Germany)
- Merck & Co., Inc. (U.S.)
- Zoetis Inc. (U.S)
- Sanofi (France)
- Virbac Corporation (U.S.)
- Ceva Sante Animale S.A. (France)
- Vetoquinol SA (France)
- Perrigo Company plc (Ireland)
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Animal parasiticides Market are segmented based on type, which includes ectoparasiticides, endoparasiticides, and endectocides. Among all, the endoparasiticides segment is dominating the market owing to its ease of usage and effectiveness.
Animal parasiticides Market are segmented based on species, which includes poultry, swine, sheep & goats, cattle, and others. Among all, cattle segment is dominating the market, followed by poultry. The foremost reason for this growth is increased consumption for animal source protein.
The global Animal Parasiticides Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe is dominating the global animal parasiticides market due to increasing consumption of animal parasiticides from the increasing livestock diseases, and demand for enhanced animal medicinal products. Additionally, the major key players are actively involved in research & developments to develop products conforming to North American regulations for animal parasiticides.
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