Fact.MR – A Market Research and Competitive Intelligence Provider: Sales of animal parasiticides are forecast to grow at a steady 5.9% between 2020 and 2026, as per a market survey by Fact.MR.
Endoparasiticides Demand for Animal Parasiticides to Surge at 5.7% through 2026
Fact.MR’s latest survey on the animal parasiticides market covers recent developments across segments of the market in terms of product and species across seven regions. The report also divulges compelling insights into trends, drivers, threats, and restraints influencing sales in the market over the forecast period.
Fact.MR – A Market Research and Competitive Intelligence Provider: Sales of animal parasiticides are forecast to grow at a steady 5.9% between 2020 and 2026, as per a market survey by Fact.MR. Emergence of new diseases and transmission models in livestock and pets is asserting the need for effective solutions, which in turn is boosting the sales of animal parasiticides.
Growing emphasis on improving food security in animal-derived products is expected to boost the animal parasiticides market. Increasing consumption of meat, milk, and eggs in households, as well as the food and beverage sector is spurring the demand for high-quality and nutritional content in such products. This is compelling farmers to improve their efforts regarding the safety and wellbeing of farm animals, resulting in higher sales.
Further, diseases caused by endoparasites are fatal for farm and companion animals. If transferred to humans, they can result in severe gastrointestinal and skin infections. As awareness regarding such diseases continues to grow, demand for animal parasiticides is expected to rise in the forthcoming years.
On the flip side, stringent regulations regarding the withdrawal time in food-producing animals might limit the adoption of animal parasiticides. For instance, the National Organic Program has banned the use of parasiticides for all organic slaughter animals.
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In response to this, players are amplifying their efforts to improve drug and vaccine quality. Companies are investing in research and development to develop novel drugs, vaccines, diagnostic products, and genetic testing tools to offer consumers effective drugs without any side effects. This is expected to continue augmenting the growth in the market over the forthcoming years.
“Increasing investments in adjuvant technologies for improving vaccine effectiveness, such as the SPEREON technology, are anticipated to fuel sales in the market. In addition to this, surging demand for worm control measures in companion animals will continue fueling the growth in the market,” says a Fact.MR analyst.
Key Takeaways:
- Demand for ectoparasiticides is projected to soar at a 6.1% CAGR over the assessment period.
- Applications of animal parasiticides for companion animals are anticipated to remain high.
- The U.S. will continue dominating the North America market, enabling sales in the region at a 5.6% CAGR.
- China is expected to emerge as a lucrative market in East Asia owing to the expansion of the agricultural and livestock industry.
- India will continue witnessing high demand due to increasing sales of animal-derived products in the country.
Growth Drivers:
- Increasing investments in the animal therapeutics sector, especially in emerging economies, are expected to boost the market.
- Growing popularity of pet humanization among millennials is expected to fuel the sales of animal parasiticides.
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Competitive Landscape
Leading players operating in the global animal parasiticides market are focusing on research and development in collaboration with medical research institutes to improve their product portfolios. Besides this, players are investing in mergers, acquisitions, collaborations, and partnerships to gain a competitive edge in the market.
For instance, in February 2020, Zoetis Inc. received FDA approval for a new combination of parasite prevention drugs for dogs called Simparica TrioTM. The new drug is the first all-in-one protection against heartworm diseases, fleas, ticks, and roundworms in a single monthly chewable tablet.
Key Players in the Animal Parasiticides Market Include:
- Bayer AG
- Bimeda Animal Health
- Boehringer Ingelheim GmbH
- Ceva Santé Animale
- Elanco (Eli Lilly and Company)
- Merck & Co., Inc.
- Vetoquinol
- Zoetis, Inc.
- Virbac
- The Chanelle Group
More Valuable Insights on Animal Parasiticides Market
Fact.MR provides an unbiased analysis of the animal parasiticides market, presenting historical demand data (2016-2019) and forecast statistics for the period from 2020-2026. The study divulges compelling insights on the global animal parasiticides market with a detailed segmentation on the basis of:
Product:
- Ectoparasiticides
- Oral Tablets
- Dips
- Spray
- Spot-on
- Others
- Endoparasiticides
- Oral Suspension
- Injectable
- Feed Additives
- Others
- Endectocides
Species:
- Food-Producing Animals
- Cattle
- Poultry
- Swine
- Others
- Companion Animals
- Dogs
- Felines
- Others
- Other Livestock
Regions:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Key Questions Covered in Animal Parasiticides Market Report
- The report offers insight into the animal parasiticides market demand outlook for 2020-2026.
- The market study also highlights projected sales growth for animal parasiticides market between 2020 and 2026.
- Animal parasiticides market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Animal parasiticides market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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