The global animal parasiticides market is projected to reach USD 13.7 billion by 2026 from USD 9.7 billion in 2021, at a CAGR of 7.2% during the forecast period. Factors such as the rising demand for animal-derived food products, increasing investments by private players, growing concerns of zoonotic diseases, regulations for preventing the spread of animal diseases, growing companion animal ownership rates, and rising animal health expenditure are driving the growth of the animal parasiticides market. However, a shift toward vegetarianism and restrictions on the use of parasiticides in food-producing animals are expected to restrain the growth of this market during the forecast period.
Ectoparasiticides segment accounted for the largest share in the animal parasiticides market. Based on type, the animal parasiticides market is segmented into endoparasiticides, ectoparasiticides, and endectocides. The ectoparasiticides segment accounted for the largest share of 57.9% of the global animal parasiticides market in 2020. This segment is projected to reach USD 8,582.1 million by 2026 from USD 5,703.9 million in 2021, at a CAGR of 8.5%. The large share of this segment can be attributed to the higher adoption of ectoparasiticides as compared to other products. The increasing population of companion animals and rising pet ownership in developed countries are also expected to support the growth of this market during the forecast period.
Companion Animals segment is expected to witness the fastest growth in the forecast period. Based on animal type, the animal parasiticides market is segmented into companion animals and livestock animals. In 2020, companion animals accounted for the largest share of 52.2% of the global animal parasiticides market. This segment is projected to reach USD 7,633.2 million by 2026 from USD 5,130.2 million in 2021, at a CAGR of 8.3%. The large share of this segment is primarily attributed to the increasing expenditure on pet animals and increasing companion animal ownership in developed countries.
Veterinary Clinics & Hospitals accounted for the largest share of animal parasiticides market in 2020 Based on end users, the animal parasiticides market is segmented into veterinary clinics & hospitals, animal farms, and home care settings. Veterinary clinics & hospitals accounted for the largest share of 61.4% of the animal parasiticides market in 2020. This segment is projected to reach USD 8,252.7 million by 2026 from USD 5,952.6 million in 2021, at a CAGR of 6.8%. The large share of this segment can be attributed to the higher adoption of animal parasiticides in hospital settings, the increasing incidence of parasitic diseases, and growing awareness about animal health in developing countries.
North America accounted for the largest share of the animal parasiticides market in 2020 On the basis of region, the animal parasiticides market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of 40.3% of the global animal parasiticides market in 2020. This market is projected to reach USD 5,179.1 million by 2026 from USD 3,879.4 million in 2021, at a CAGR of 5.9%. The large share of North America is due to its well-established base of the animal health industry, the high adoption of companion animals, and the growing expenditure on animal health. The market in Latin America is expected to grow at the highest CAGR of 8.8% during the forecast period. This can be attributed to the growing population of livestock animals, increasing consumption of animal-derived food products, and growing adoption of pets. A breakdown of the primary participants (supply-side) for the animal parasiticides market referred to for this report is provided below: • By Company Type: Tier 1–34%, Tier 2–46%, and Tier 3–20% • By Designation: C-level–35%, Director Level–25%, and Others–40% • By Region: North America–30%, Europe–45%, Asia Pacific–20%, Latin America- 3%, and Middle East and Africa– 2% Some of the key players in the animal parasiticides market are Zoetis Inc. (US), Elanco Animal Health Incorporated (US), Virbac (France), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Ceva Santé Animale (France), Vetoquinol S.A. (France), PetIQ, Inc. (US), Norbrook (Ireland), and Bimeda Animal Health (Ireland) among others. The study includes an in-depth competitive analysis of these key players in the animal parasiticides market, along with their company profiles, recent developments, and key market strategies.
Research Coverage: The market study covers the animal parasiticides market across various segments.It aims at estimating the market size and the growth potential of this market across different segments by type, animal type, end user, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report: The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the animal parasiticides market and its segments.This report will help stakeholders understand the competitive landscape, gain insights to position their businesses better, and plan suitable go-to-market strategies.
The report will also help stakeholders in understanding the pulse of the market and gaining information on key market drivers, restraints, opportunities, and challenges.
Our reports have been used by over 10K customers, including:
Over the years, the global veterinary imaging market has evolved from the use of diagnostic imaging instruments for human medicine to the development of specialized imaging modalities for veterinary applications. The increasing development of portable and battery-powered imaging instruments for point-of-care services, growing consolidation...
Executive Summary The Global Animal Nutrition Market was valued at USD 26.54 billion in the year 2020. The major factors driving the growth of the global animal nutrition market are growing demand for safe and nutritious animal food, limitations on antibiotics, more producer knowledge of animal health, and a rise in meat...
The global animal health market is expected to record a value of US$53.92 billion in 2025, growing at a CAGR of 6.3% for the period spanning 2021-2025. The factors such as growing middle class population, rising cattle/cow population, surge in demand for animal protein, rising U.S. expenditure on pets and growing urbanization would drive the...
The veterinary endoscopy market was valued at approximately USD 185 million in 2020 and is expected to witness a revenue of USD 258 million in 2026, with a CAGR of 5.5% over the forecast period. The COVID-19 pandemic has a significant impact on the studied market. As per the data from the Centers for Disease Control and Prevention (CDC),...
The global swine health market is expected to register a healthy CAGR during the forecast period, owing to the increasing incidence of swine diseases. The Food and Agriculture Organization of the United Nations (FAO) 2019 report stated that a total of 62 provinces/cities reported outbreaks, about 3,700,000 pigs have died from the African swine...
The medicated feed additives market is projected to register a CAGR of 5.2% during the forecast period(2020-2025). The increasing incidences of zoonotic and foodborne diseases, which have high chances of being naturally transmitted from animals to humans, led to the rising usage of the key feed additives that can minimize the occurrence of...
The APAC animal health market is projected to reach a value of USD 22.1 billion by 2025 from USD 15.6 billion in 2020, at a CAGR of 7.2% during the forecast period. Factors such as the rapid rise in livestock population, increasing awareness about animal health, and rising frequency of animal disease outbreaks are expected to drive the growth...
The feed additives market in the United States is projected to register a CAGR of 5.6% during the forecast period. According to the new report released by the Food and Drug Administration (FDA), approximately 80% of antibiotics used in the country are fed to farm animals. The usage of the Veterinary Feed Directive (VFD) drug in farm animal...
936 pages •
By The Business Research Company
• Nov 2020
Animal Medicine Global Market Opportunities And Strategies To 2030: COVID-19 Impact and Recovery provides the strategists, marketers and senior management with the critical information they need to assess the global animal medicine market. Description: Where is the largest and fastest growing market for the animal...
Veterinary care market is predicted to foresee exceptional growth in the coming years. The veterinary care market has experienced considerable growth since the past few years.Market growth can be associated with the introduction of highly efficient veterinary diagnostic tools that enables early disease diagnosis. The disease diagnosis...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.