Meticulous Research®—a leading global market research company, published a research report titled, "Animal Parasiticides Market By Product [Ectoparasiticides (Pour On, Spray, Spot on), Endoparasiticides (Oral, Injectable), Endectocides], Animal (Companion, Livestock), Parasite Type (Tapeworm, Fleas, Ticks, Mites, Roundworms) - Global Forecast to 2030." According to this latest publication from Meticulous Research®, the animal parasiticides market is expected to reach $17.9 billion by 2030, with a projected compound annual growth rate (CAGR) of 7.3% during the forecast period spanning from 2023 to 2030.
Market Dynamics: The growth of the animal parasiticides market is fueled by several factors, including the increasing prevalence of zoonotic and parasitic diseases, rising demand for animal-derived food products, and escalating expenditure on animal health. Additionally, the expanding number of livestock in emerging economies presents significant growth opportunities for this market.
Challenges: Despite the promising growth outlook, challenges such as the restricted use of parasiticides in food-producing animals pose a notable hindrance to market expansion. Moreover, the growing inclination towards vegetarian and vegan diets represents a major challenge for market growth.
Animal Parasiticides Market: Future Outlook The animal parasiticides market is segmented by product type, parasite type, animal type, and geography. The report provides a detailed analysis of industry competitors and evaluates the market at both country and regional levels.
Based on product type, the ectoparasiticides segment is expected to hold the largest market share of the animal parasiticides market in 2023. This dominance is attributed to factors such as the high incidence of fleas, ticks, and mites infestations in animals, as well as the ease of administering ectoparasiticides to companion and farm animals through various forms such as liquid pours, spots, sprays, powders, collars, and ear tags.
Based on parasite type, the mite, tick, flea, lice, and grub infestation segment is projected to dominate the animal parasiticides market in 2023. This is primarily due to the high prevalence of ectoparasitic infections in animals, as they serve as a food source for external parasites like fleas, ticks, and lice, which can embed themselves in animals’ fur to lay eggs.
Based on animal type, the companion animal segment is expected to hold the largest market share in 2023. This is attributed to the large population of pets globally, with many households treating pets as family members and showing a willingness to invest in their health.
Geographic Analysis: In 2023, North America is anticipated to lead the animal parasiticides market, followed by Europe and Asia-Pacific. This market dominance in North America is driven by factors such as high expenditure on animal health, a highly commercialized and institutionalized meat industry, substantial consumption and import-export of animal-derived food products, and a large population of pets treated as family members.
Key Players: Major players operating in the animal parasiticides market include Zoetis Inc. (U.S.), Virbac (France), Heska Corporation (U.S.), Bimeda, Inc. (Ireland), Boehringer Ingelheim International GmbH (Germany), Merck & Co., Inc. (U.S.), Elanco Animal Health Incorporated (U.S.), Vetoquinol Group (France), PetIQ, LLC (U.S.), and ECO Animal Health Ltd (U.K.), among others.
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Key Questions Addressed: • What are the high-growth market segments in terms of product type, animal type, parasite type, and region/country? • What was the historical market size for animal parasiticides across the globe? • What are the market forecasts and estimates for the period 2023–2030? • What are the major drivers, restraints, opportunities, and challenges in the global animal parasiticides market? • Who are the major players operating in the animal parasiticides market? • How is the competitive landscape, and who are the market leaders in the global animal parasiticides market? • What recent developments have occurred in the global animal parasiticides market? • What are the different strategies adopted by the major players in the global animal parasiticides market? • What are the geographical trends and high-growth regions/countries?
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