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Animal Parasiticides Market Share

ID: MRFR//3644-HCR | 110 Pages | Author: Harshita Gorade| September 2024

animal parasiticides market share involves strategic approaches that companies adopt to establish a competitive edge, increase their market presence, and meet the diverse needs of veterinarians, farmers, and pet owners. One effective strategy is product differentiation, where companies focus on developing unique formulations or delivery methods for their parasiticides. By offering innovations that address specific challenges, such as resistance or ease of administration, companies can position themselves as leaders in the market, attracting a loyal customer base and distinguishing their brand from competitors.

Building strong brand equity is a pivotal element in market share positioning within the animal parasiticides sector. Companies that establish a reputation for producing reliable, safe, and effective parasiticides create brand loyalty among veterinarians and animal owners. Trust in the brand translates into repeat business and positive word-of-mouth recommendations. This strategy not only helps in maintaining existing market share but also contributes to the expansion of the customer base as the brand becomes synonymous with quality and efficacy.

Strategic partnerships and collaborations play a crucial role in market share positioning, especially in the complex landscape of the animal parasiticides market. Companies can form alliances with veterinary clinics, research institutions, or other stakeholders to leverage collective expertise and resources. Collaborative efforts can lead to the development of innovative products, shared knowledge, and expanded distribution networks. Such partnerships enhance market reach, fostering a collaborative ecosystem that positions the participating brands as leaders in the industry.

An effective pricing strategy is integral to market share positioning in the animal parasiticides market. Companies must balance the affordability of their products with the quality and efficacy offered. Offering competitive pricing, bulk discounts, or bundled packages can attract cost-conscious veterinarians, farmers, and pet owners, broadening the customer base and securing a larger share of the market. This strategy requires a keen understanding of the economic considerations of different customer segments and regions.

Globalization and international market expansion are strategic moves to increase market share in the animal parasiticides sector. Companies can identify regions with a high prevalence of parasitic infections or a growing demand for veterinary healthcare products. By establishing a presence in these markets through effective distribution networks or strategic partnerships with local players, businesses can position themselves as key players and gain a significant share in these expanding geographic areas.

Investing in marketing and promotional activities is crucial for market share positioning within the competitive landscape of animal parasiticides. Companies can employ digital marketing, social media campaigns, and participation in industry events to create brand awareness and educate veterinarians and animal owners about the benefits of their products. Informative content, engaging in disease awareness initiatives, and highlighting the unique features of parasiticides can contribute to brand visibility, attract new customers, and ultimately lead to an increased market share.

Sustainability initiatives are gaining importance in market share positioning strategies, reflecting the growing awareness of environmental concerns. Companies that prioritize eco-friendly and sustainable practices in the production and packaging of their parasiticides can appeal to environmentally conscious veterinarians and consumers. This strategy aligns with broader industry trends and positions the company as a responsible and ethical player in the market, contributing to market share growth.

In conclusion, market share positioning strategies in the animal parasiticides market involve a combination of product differentiation, brand building, strategic partnerships, pricing strategies, global expansion, marketing efforts, and sustainability initiatives. As the demand for effective and innovative parasiticides continues to grow, companies that strategically navigate these factors will be well-positioned to capture a significant share in the evolving and competitive animal parasiticides market.

Covered Aspects:

Report Attribute/Metric	Details
Base Year For Estimation	2024
Forecast Period	2024-2032
Growth Rate	7.51% (2024-2032)

Animal Parasiticides Market Highlights:

Animal Parasiticides Market Trends

Animal Parasiticides Market Analysis

Animal Parasiticides Market Share

Animal Parasiticides Companies

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 Market Overview

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

Animal Parasiticides Companies

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