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animal parasiticides market dynamics of sector reveal a complex interplay of factors shaping the landscape of veterinary healthcare. One of the primary drivers of this market is the increasing global concern for animal health and welfare. As the population of companion animals, livestock, and poultry continues to rise, the risk of parasitic infestations also escalates. This has led to a growing demand for effective and innovative animal parasiticides to safeguard the health and productivity of animals, driving market growth.
Government regulations and initiatives play a crucial role in shaping the dynamics of the animal parasiticides market. Stringent regulations regarding the use of parasiticides in livestock and food-producing animals, coupled with guidelines promoting responsible pet ownership, influence the development and commercialization of these products. Compliance with regulatory standards is a key consideration for manufacturers, affecting their market strategies and product offerings.
The prevalence of parasitic infections in animals is a significant market dynamic. Parasites pose a constant threat to the well-being of animals, leading to diseases that can adversely affect their health and, in the case of livestock, impact productivity. The need for effective prevention and treatment of parasitic infections creates a continuous demand for animal parasiticides across various segments of the veterinary healthcare industry.
Technological advancements and innovations in veterinary medicine contribute to the evolving dynamics of the animal parasiticides market. Ongoing research and development efforts result in the introduction of novel formulations, delivery systems, and modes of action for parasiticides. These innovations enhance the efficacy and safety of products, providing veterinarians and animal owners with a diverse range of options to address specific parasitic challenges. The adoption of advanced technologies not only improves treatment outcomes but also influences market competitiveness and growth.
Market dynamics are also influenced by the increasing awareness of zoonotic diseases. Zoonotic diseases, which can be transmitted between animals and humans, underscore the importance of controlling parasitic infections in animals. This awareness has prompted a proactive approach to animal healthcare, with a focus on preventing the spread of diseases that can have implications for both animal and human populations. The demand for effective parasiticides as a preventive measure is thus heightened, shaping market dynamics in the context of public health concerns.
Globalization and international trade contribute to the dynamics of the animal parasiticides market. The movement of animals across borders increases the risk of introducing and spreading parasitic infections. This dynamic has led to a growing emphasis on harmonized regulations and standards for the use of parasiticides in different regions. Companies operating in the market must navigate international trade regulations, regional variations in parasite prevalence, and diverse customer needs to effectively position and distribute their products.
Market consolidation and partnerships are key factors influencing the dynamics of the animal parasiticides sector. The industry has witnessed strategic collaborations, mergers, and acquisitions as companies seek to enhance their product portfolios, expand market reach, and capitalize on synergies. These strategic moves impact market competitiveness, research capabilities, and the ability to address a broad spectrum of parasitic infections, ultimately shaping the overall dynamics of the animal parasiticides market.
In conclusion, the animal parasiticides market is characterized by a dynamic interplay of factors, including the increasing awareness of animal health, government regulations, prevalence of parasitic infections, technological innovations, zoonotic disease concerns, global trade dynamics, and industry consolidation. The ongoing evolution of these factors contributes to a dynamic and competitive landscape, highlighting the importance of adaptability and innovation for companies operating in the animal parasiticides sector.
Animal Parasiticides Market Highlights:
Animal Parasiticides Market Overview
The global Animal Parasiticides Market Size was valued at USD 8.61 billion in 2023. The Animal Parasiticides Market industry is anticipated to grow from USD 9.18 billion in 2024 to USD 16.38 billion by 2032, exhibiting a CAGR of 7.51% during the forecast period (2024 - 2032).
Animal parasiticides are chemical formulations used to kill different types of parasites on animals. Animal parasites live on or in the body of animals and can cause irritation, pain, and wounds to animals. Most parasites, if not treated, can cause death of host animal. They can affect the yield of various livestock animals like cattle. The increasing number of livestock animals all over the globe is one of the major factors driving the growth of global animal parasiticides market. Moreover, increasing awareness about animal health management is projected to boost the growth of global animal parasiticides market. Additionally, the increased accessibility to veterinary services due to growth in number of veterinary practitioners coupled with continuous developments in animal parasiticides products is anticipated to fuel the growth of the global animal parasiticides market.
Animal Parasiticides Market Segmentation
The global animal parasiticides market has been segmented based on product type, livestock, and region.
The global animal parasiticides market has been classified, based on product type, as ectoparasiticides, endoparasiticides, and endectocides.
The global animal parasiticides market has been bifurcated, based on livestock, into ruminants, poultry, porcine, and others.
The global animal parasiticides market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American animal parasiticides market has further been segmented into the US, Canada, and Mexico.
The European animal parasiticides market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe.
The animal parasiticides market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific.
The animal parasiticides market, in the rest of the world, has been segmented into South America, the Middle East, and Africa
Recent News:
Vetoquinol, a market leader in animal parasiticides, is pleased to announce that the European Commission has granted marketing authorization for Felpreva® (tigolaner/emodepside/praziquantel), a spot-on prevention and treatment option for mixed parasitic infestations/infections in cats. This authorization was granted subsequent to a positive opinion from the Committee for Medicinal Products for Veterinary Use (CVMP). Felpreva® is the first spot-on parasiticide designed specifically for cats to provide protection against tapeworms, endoparasites (including gastrointestinal roundworms and lungworms), and ectoparasites (including fleas, lice, and mites) for a duration of up to three months when applied with a single dose. It is authorized for the treatment of felines that are infected with or susceptible to combined parasitic infections. Marketing authorization for Felpreva ® (tigolaner/emodepside/praziquantel) has been issued by the European Commission. For up to three months, the combination product treats both internal and external parasite infestations/infections, including tapeworms, and is the first spot-on solution for cats to receive EU approval. Tigolaner, an innovative active ingredient comprising three components in Felpreva®, primarily targets fleas, ticks, and mites.
Key Players
Vétoquinol and Bioniche Life Sciences Inc. (Canada), Bayer Animal Health GmbH (Germany), DSM N.V. Merck & Co. Inc. (US), Biomin Holding Gmbh (German), Boehringer Ingelheim International GmbH (Germany), Cargill Inc (US), Zoetis Inc.(US), AB Vista Inc. (UK), The Alltech Groupare (US), Elanco Animal Health Incorporated (US), Bupo Animal Health (South Africa), Chr. Hansen A/S (Denmark), Danisco A/S (Denmark), Novus International Inc. (US) are some of the key players in the global animal parasiticides market.
Regional Market Summary
The market in North-America is expected to dominate the global animal parasiticides market during the forecast period due to increasing demand of food obtained from animal sources, leading to an increase in livestock raising activities. Moreover, the continuous research in animal parasiticides is anticipated to fuel the growth of animal parasiticides market in this region. Asia-Pacific, region is projected to grow at highest CAGR due to increasing awareness about animal health management and its benefits. Additionally, the farmers in developing countries like India and China are now majorly focusing on animal raising activities to obtain more income, which is predicted to boost the growth of global animal parasiticides market.
Recent Developments
The animal parasiticides market in the rest of the world is expected to grow at a steady rate due to increasing meat consumption.
October 2023: Bayer Animal Health receives regulatory approval in the European Union (EU) for its new product, NexGard Spectra (afoxolaner/milbemycin oxime). This chewable tablet is indicated for the treatment and prevention of various parasites in dogs and cats, including fleas, ticks, heartworms, and intestinal worms.
November 2023: Elanco Animal Health launches Seresto Plus (imidacloprid/flumethrin/pyriproxyfen), a collar for dogs and cats that provides protection against fleas, ticks, and mosquitoes for up to eight months. This product also helps control flea eggs and larvae in the pet's environment.
December 2023: Boehringer Ingelheim launches Vectra 3D (dinotefuran/imidacloprid/permethrin), a topical solution for dogs that protects against fleas, ticks, and mosquitoes for up to one month. This solution also helps control flea eggs and larvae in the pet's environment.
Global Animal parasiticides Market, by Product Type
- Ectoparasiticides
- Endoparasiticides
- Endectocides
Global Animal parasiticides Market, by Livestock
- Ruminants
- Poultry
- Porcine
- Others
Global Animal parasiticides Market, by Region
-
North America
- US
- Canada
- Mexico
-
Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
-
Asia-Pacific
- Japan
- China
- India
- Australia and New Zealand
- Rest of Asia-Pacific
-
Rest of the World (RoW)
- South America
- Middle East
- Africa
Intended Audience
- Animal growth promoter manufacturers
- Livestock industry
- Raw material suppliers
- Retailers and wholesalers
- Traders, importers, and exporters
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