Global Animal Parasiticides Market Overview
\nGlobal Animal Parasiticides Market Size Was Valued at USD 8.53 Billion In 2023 And Is Projected to Reach USD 13.46 Billion By 2032, Growing at A CAGR of 5.2% From 2024 To 2032.
\nAnimal parasiticides refer to substances or mixtures that are used to kill, repel, or control parasites in animals. These parasites can include ticks, fleas, lice, mites, and worms, among others. The global market for animal parasiticides is significant, driven by the increasing awareness about animal health and welfare, the rising prevalence of parasitic infections in livestock and companion animals, and the growing demand for animal-derived products.
\nThe market for animal parasiticides has been growing steadily over the years and is expected to continue expanding. Factors such as increasing pet ownership, growing demand for livestock products, and rising investments in animal healthcare infrastructure contribute to this growth. Ongoing research and development efforts aim to improve the effectiveness, safety, and convenience of animal parasiticides. Innovations in formulations, delivery systems, and active ingredients contribute to product advancements in the market. <\/p>\n
Market Dynamics And Factors For The Animal Parasiticides Market
\nDrivers:
\nThe animal parasiticides market is being driven mainly by the increasing requirements to treat parasitic diseases in animals. Since parasitic attacks are known to support serious economic losses, parasiticides are needed to maintain the health of animals. Factors such as continuous growth in healthcare spending for animal health, rapidly increasing demand for animal-based foods and rise in livestock volumes, continuous increase in pet adoption levels, and the need to defense zoonotic diseases are turning growth in the global animal parasiticides market. Animal meat is a highly nutrient food and so are eggs and milk. With rising disposable incomes, consumers are demanding better quality food products, which is a key growth-promoting factor for the animal parasiticides market. Moreover, the animal welfare activities of governments focused on improving livestock health are also accelerating animal parasiticides market growth. With the number of companion animals on the rise, owners are taking preventive measures to defend the health of pets, thus stimulating growth in the animal parasiticides market.
\nThe market is also being recommended by the steady growth in the numbers of veterinary practitioners, specifically in emerged regions. With the awareness regarding zoonotic diseases rising, governments are stressing efforts to defense transmission of animal diseases to humans, thus boosting demand for animal parasiticides. For instance, ESCAPE, a European body has built up guidelines to prevent, control, and treat companion animal parasites, since dogs and cats are often infested with vector-borne parasites such as ectoparasites and endoparasites. The objective of the European body is to overcome the risk of zoonotic transmission of parasitic diseases by protecting the health of pets. Growth in research activities for emerging innovative parasiticides would also turn the animal parasiticides market growth in the coming years. In addition, for example, Zoetis had remained focused on growing the company`s research for widenings its parasiticide and vaccine product ranges which help to cater the product in the animal parasiticides market.
\nRestraints:
\nThe application of parasiticide in some animals (specifically the food producers) in some regions is restraining the animal parasiticides market. The growing number of species of parasites are also contributing to the restraints that are preventing the animal parasiticides market from growing. Moreover, the application of parasiticides in livestock animals is subject to various federal regulations in many economies. The extra-label use of these topical parasiticides could leave residues that may, on utilization by human beings, have side effects. As a result, the application of these parasiticides, especially endoparasiticides, needs to be regulated; safe residue concentrations and withdrawal periods for antiparasitics utilized in food-producing animals must be standardized, and slaughtered animals require to be monitored for possible unsafe residues. In the US, animal parasiticides given to food-producing animals have precise FDA-regulated withdrawal times (the time taken post drug administration for drug residues to reach limits set by the FDA) to prevent the presence of harmful drug residues. Similarly, according to the National Organic Program, animal parasiticides are restricted for all organic slaughter stock. In the UK, the Veterinary Medicines Directorate’s non-statutory program, in cooperation with the National Surveillance Scheme, carries out residue analysis on imported and processed animal foods to ensure that authorized medicines, including parasiticides, are not present above the permitted level (known as the maximum residue limit) in food. In Canada, the Canadian Food Inspection Agency sets guidelines about withdrawal times for animal drugs, including animal parasiticides.
\nOpportunities:
\nIntroducing the Door to More Digital Health Solutions
\nLast year, the start of the COVID-19 pandemic and showing lockdown restrictions led to many veterinarians and pet owners considering telemedicine solutions, owing to the prevention of some in-person appointments. And it’s thought this will create the door to more widespread uptake of digital technology in animal care will help the growth of the animal parasiticide market. Already, many pet owners are buying wearable devices for their animals or using apps to monitor daily behavior and determine their four-legged friend on a deeper level. As per the research study, 56 percent of pet owners already own tech just for their pets. Such detailed information could demonstrate invaluable to support veterinary care and the application of artificial intelligence (AI) in practice, which depend on data sets so algorithms can ‘learn’ regarding a particular disease. Additionally, futuristic technologies are also capturing momentum. For instance, 3D printing is being utilized to build implants, prosthetic limbs, and even tissue replacements for pets. Veterinarians can also utilize 2D images such as scans to produce practice models in preparation for surgery. Vigorous animals are critical for a healthy planet, whether that’s in the form of caring for pets, looking after livestock, or defending our wildlife. Continuous research and progress in 2021 and beyond will improve the understanding that can be better care-takers and is expected to grow of the animal parasiticides market in the upcoming years.
\nMarket Segmentation
\nSegmentation Analysis of Animal Parasiticides Market:
\nBased on Type, the ectoparasiticides segment is expected to have a maximum animal parasiticides market share of the market, in terms of value during the forecast period. The segment is projected to expand owing to growth in infestation of fleas, ticks, and other ectoparasites to companion animals and livestock, which raises the chances of bacterial, viral, and parasitic disease transmission to humans. Hence, the application of ectoparasiticides is inevitable and important for pets and cattle. These factors are anticipated to turn the segment during the forecast period.
\nBased on the Animal Type, the companion animal segment is anticipated to record the maximum animal parasiticides market share over the forecast period. The growth of specialized R&D production units by key players in key economies globally and the rising adoption rate of pets as a companion, beast of burden, etc., have led to the major share held by the companion animals’ segment of the global animal parasiticides market. Growth in gastrointestinal parasitism and zoonotic diseases among pets is probably to turn the animal parasiticides market over the forecast period.
\nBased on the End-Users, Veterinary Clinics & Hospitals segment is anticipated to dominate the animal parasiticides market over the forecast period. Largely incorporation of animal parasiticides in hospital settings, the rising incidence of parasitic diseases, and increasing consciousness regarding animal health in developing countries led to the growth of the animal parasiticides market.
\nRegional Analysis of Animal Parasiticides Market:
\nThe Asia Pacific region holds significant potential as a market for animal parasiticides. The Asia Pacific region is home to a large population of livestock, including cattle, poultry, pigs, and sheep. The growing demand for meat, milk, and other animal-derived products in countries like China, India, and Indonesia drives the need for effective parasite control measures to ensure animal health and productivity. Rapid urbanization and rising disposable incomes in many Asian countries have led to an increase in pet ownership. This trend fuels demand for companion animal parasiticides to protect pets from fleas, ticks, and other parasites, thereby boosting the market for these products.
\nGovernments in the Asia Pacific region are increasingly recognizing the importance of animal health and welfare. They may implement regulations and initiatives to promote the responsible use of parasiticides and ensure the safety and efficacy of these products, thereby fostering market growth. The adoption of advanced technologies and formulations in animal healthcare, including parasiticides, is on the rise in the Asia Pacific region. Innovations such as long-lasting formulations, targeted delivery systems, and novel active ingredients cater to the diverse needs of livestock producers and pet owners in the region.
\nPlayers Covered in Animal Parasiticides market are <\/p>\n
Bayer AG (Germany)<\/p>\n
Zoetis Inc. (US)<\/p>\n
Virbac SA (France)<\/p>\n
Elanco Animal Health (US)<\/p>\n
Elanco Animal Health Incorporated (US)<\/p>\n
Virbac (France)<\/p>\n
Merck & Co. Inc. (the US)<\/p>\n
Boehringer Ingelheim GmbH (Germany)<\/p>\n
Bimeda Animal Health (US)<\/p>\n
Merck Animal Health (US)<\/p>\n
Ceva Sant\u00e9 Animale (France)<\/p>\n
Vetoquinol S.A. (France)<\/p>\n
PetIQ Inc. (the US)<\/p>\n
Norbrook (Ireland) and other major players.
\nKey Industry Developments In The Animal Parasiticides Market<\/p>\n
In February 2024, Elanco Animal Health sells its aqua business to Merck Animal Health for $1.3 billion in cash, aiming to prioritize investments in larger markets. CEO Jeff Simmons cites the move as strategic, focusing on high-impact innovation and a robust late-stage pipeline, expecting six potential blockbuster products in the U.S. market by 2025. The sale aims to enhance balance sheet flexibility and accelerate deleveraging, targeting net debt to adjusted EBITDA in the high-3x to low-4x range by 2025.<\/p>\n
In October 2023, Bayer Animal Health secure regulatory clearance from the European Union (EU) for its latest offering, NexGard Spectra. This chewable tablet, featuring a combination of afoxolaner and milbemycin oxime, is engineered to address a spectrum of parasites affecting dogs and cats, including fleas, ticks, heartworms, and intestinal worms.<\/p>\n
In November 2023, Elanco Animal Health introduced Seresto Plus, a collar designed for dogs and cats. This innovative product, boasting a formulation of imidacloprid, flumethrin, and pyriproxyfen, offers protection against fleas, ticks, and mosquitoes for a duration of up to eight months. Additionally, it aids in managing flea eggs and larvae within the pet’s surroundings.<\/p>\n
In December 2023, with Boehringer Ingelheim’s launch of Vectra 3D. This topical solution for dogs contains a blend of dinotefuran, imidacloprid, and permethrin, providing safeguarding against fleas, ticks, and mosquitoes for a month. It also contributes to controlling flea populations in the pet’s environment.<\/p>\n","protected":false},"excerpt":{"rendered":"
Animal parasiticides refer to substances or mixtures that are used to kill, repel, or control parasites in animals. These parasites can include ticks, fleas, lice, mites, and worms, among others. The global market for animal parasiticides is significant, driven by the increasing awareness about animal health and welfare, the rising prevalence of parasitic infections in livestock and companion animals, and the growing demand for animal-derived products.<\/p>\n","protected":false},"featured_media":8714,"template":"","meta":{"_acf_changed":false},"product_brand":[],"product_cat":[223],"product_tag":[],"class_list":["post-10824","product","type-product","status-publish","has-post-thumbnail","product_cat-agriculture","first","instock","virtual","purchasable","product-type-simple"],"acf":[],"yoast_head":"\n