Veterinary Parasiticides Global Market Report 2022

Veterinary Parasiticides Global Market Report 2022

  • May 2022 •
  • 175 pages •
  • Report ID: 6281026 •
  • Format: PDF
Major players in the veterinary parasiticides market are Bayer AG, Zoetis, Boehringer Ingelheim, Merck, Eli Lilly and Company, Virbac, Ceva Animal Health, Inc., Merial, Perrigo Company, and Vetoquinol, and Intas Pharmaceuticals Ltd.

The global veterinary parasiticides market is expected to grow from $2.48 billion in 2021 to $2.72 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The market is expected to grow to $3.69 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%.

The veterinary parasiticides market consists of sales of veterinary parasiticides and related services which are used in the treatment of parasitic diseases in livestock, pets, and other animals.The veterinary parasiticides industry includes establishments that produce a cure to parasitic diseases that can be caused by helminths, amoeba, ectoparasites, parasitic fungi, and protozoa.

Veterinary parasiticides are chemical substances that destroy or inhibit micro-organisms or parasites and improve the animals’ health.

The main types of veterinary parasiticides are endoparasiticides, ectoparasiticides, and endectocides.Endectocides are medications that are administered directly to hosts to kill endoparasites and ectoparasites, primarily blood-feeding arthropods.

The product types include oral liquids, tablets, injectables, sprays, and other products applied on farm animals, and companion animals that are used by R&D facilities, farms, and veterinary clinics.

North America was the largest region in the veterinary parasiticides market in 2021.Asia-Pacific was the second-largest region in the veterinary parasiticides market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The animals are increasingly being affected by zoonotic pathogens which are the leading cause of foodborne diseases worldwide.Zoonotic diseases are infectious diseases caused by bacteria, viruses, and parasites, especially Salmonella and Campylobacter, which can be transmitted directly or indirectly between animals and humans.

These diseases get passed through the food chain to humans which is a potential threat and creates a dire need to prevent such diseases among animals.According to the FDA in 2020, about 128,000 hospitalizations and 3,000 deaths were reported in America due to foodborne illness.

The necessity to curb these infections in animals drives the market for veterinary parasiticides.

Lack of awareness about animal diseases due to limited information on microbes and their impact on wildlife and livestock disease restrains the veterinary parasiticides industry.Lack of awareness about the occurrence of zoonotic diseases and their impact on public health is a major hurdle for the animal parasiticides market.

This lack of awareness does not allow people to adopt the parasiticides for livestock/wildlife which not only control different parasitic diseases but also improve animal health.For instance, Proceedings of the National Academy of Sciences (PNAS) reported that only ten diseases account for around 50% of all published knowledge on diseases at the wildlife-livestock interface and the analysis was based on almost 16,000 publications from the last century.

The lack of knowledge and awareness will restrain the growth of the market.

Chewable tablets are being used to prevent animals from being affected by ticks, worms, fleas, and others.Treatments with these tablets are easier to administer.

The chewable tablets are available in either a beef-flavored tablet or soft chew.For instance, the IVERHART MAX chewable tablets protect dogs from the 4 most common worms: heartworms (infection caused by the bite of an infected mosquito), roundworms, hookworms (affects the intestines), and tapeworms (caused by ingesting an infected flea).

Such advances in technology are significantly driving the veterinary parasiticides industry.

The veterinary parasiticides market is regulated by government agencies such as European Medicines Agency (EMA), USFDA (the US food and drug ministration), and others.For instance, under the directive, 2008/97/EC of the European Parliament certain products/drugs which contain substances having a hormonal or thyrostatic action and beta-agonists are banned.

Meat or products from food-producing animals which have an oestrogenic, androgenic, or gestagenic action of beta-agonists are prohibited for human consumption unless those animals have been treated with veterinary medicines complying with the requirements of Article 6 of Council Directive 96/22/EC.

The countries covered in the veterinary parasiticides market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.