Animal Parasiticides

Animal Parasiticides

Global Animal Parasiticides Market to Reach US$14.1 Billion by 2030

The global market for Animal Parasiticides estimated at US$10.0 Billion in the year 2023, is expected to reach US$14.1 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2023-2030. Ectoparasiticides, one of the segments analyzed in the report, is expected to record a 5.6% CAGR and reach US$5.5 Billion by the end of the analysis period. Growth in the Endoparasiticides segment is estimated at 4.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.3 Billion While China is Forecast to Grow at 6.9% CAGR

The Animal Parasiticides market in the U.S. is estimated at US$2.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.0% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.

Global Animal Parasiticides Market - Key Trends & Drivers Summarized

Animal parasiticides are crucial agents in the fight against parasitic infections in livestock and pets, playing a significant role in managing the health and productivity of animals. These substances, which include endectocides, ectoparasiticides, and endoparasiticides, target a broad spectrum of internal and external parasites that can affect animals, such as fleas, ticks, mites, and worms. The strategic use of parasiticides is essential for preventing the spread of these parasites, which not only cause distress and harm to animals but can also lead to significant economic losses in the agriculture and livestock industries due to reduced productivity and increased mortality. In the pet care sector, they ensure the health and well-being of companion animals, improving their quality of life and minimizing the risk of zoonotic diseases that can transfer to humans. The market for animal parasiticides is informed by rigorous regulatory standards that govern their safety, efficacy, and environmental impact, reflecting a highly controlled sector with substantial research and development investment.

The evolution of animal parasiticides has been marked by significant advancements in both chemical and biological research, leading to more effective and safer products. The development of synthetic parasiticides provided potent tools against a wide array of parasites, while the emergence of natural and biological products catered to increasing demand for sustainable and eco-friendly solutions. These innovations extend beyond just the active ingredients; delivery methods such as oral tablets, spot-on treatments, and injectables enhance the ease of use and compliance among pet owners and livestock managers. Moreover, there is a growing integration of technology in the sector, with data-driven applications helping optimize the timing and dosing of treatments, thereby maximizing their effectiveness. This is particularly evident in precision livestock farming, where technology enables tailored parasite control measures based on specific animal needs and environmental conditions, enhancing overall herd health management.

The growth in the animal parasiticides market is driven by several factors including the expanding global demand for protein-rich foods, the rising trend of pet humanization, and the increasing awareness of zoonotic diseases. As the global population continues to grow, so does the demand for livestock products, which boosts the need for effective animal health management practices, including the use of parasiticides. Furthermore, the humanization of pets has led to more attentive care, including regular parasite control, as owners are increasingly aware of the health risks that parasites pose to both animals and humans. Advances in parasiticide technology, such as the development of combination products that tackle multiple parasites or resistance management formulations, also support market growth. Additionally, governmental and regulatory actions aiming to ensure food safety and animal welfare have mandated routine use of parasiticides in some regions, propelling the demand further. Together, these factors contribute to a dynamic market that is as responsive to technological and scientific advances as it is to changes in consumer behavior and regulatory landscapes.

Select Competitors (Total 30 Featured) -

• Merck & Co., Inc.
• Ceva Sante Animale
• Merck Animal Health
• Virbac SA
• Dechra Pharmaceuticals PLC
• Bimeda Holdings PLC
• Vetoquinol S.A.

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