Animal Parasiticides Market - Snapshot
The global animal parasiticides market is expanding due to the rising prevalence of zoonotic and parasitic diseases in animals, across the globe. The global animal parasiticides market was valued at US$ 5,606.8 Mn in 2017 and is projected to surpass US$ 8,963.9 Mn by 2026, expanding at a cumulative annual growth rate (CAGR) of more than 5.5 % from 2018 to 2026. The global market is expanding at a relatively higher growth rate owing to increase in investments by governments in animal healthcare, high incidences of Lyme disease in companion animals, rise in R&D expense for development and eradication of parasites-related health issues, and rise in demand for meat and animal byproducts.
Animal parasiticides are chemical substances that eradicate parasites other than fungi and bacteria in animal livestock, pets, and other animals. Animal parasiticides are generally inert ingredients consisting of one or more than one active ingredients. Companies are developing various new formulations and products in the animal parasiticides market in order to eradicate the increasing prevalence of foodborne diseases. Rising awareness about animal healthcare, rapidly growing animal livestock and technological advancements over the last few years are expected to boost the global animal parasiticides market.
Animal parasiticides aid livestock and companion animals who suffer from parasite infections and other zoonotic diseases. Parasiticides improve overall efficiency in protecting the pets and cattle from deadly infections caused by arthropods and boost the production of quality meat for consumption. High prevalence and incidence rates of endoparasites and ectoparasites infections in global livestock production farms has resulted in increase in usage of parasiticides along with feed additives and oral suspension. The initiation has been started with the increase in number of awareness program on swine diseases and rise in joint venture programs of key players in different region for research and development on animal parasiticides. These factors, collectively, are projected to drive the demand for global animal parasiticides in the near future. Furthermore, technological advancements such as application of parasiticides on animals using spray, dips, spot-on, collar, etc., technology are estimated to fuel the animal parasiticides market in the near future. Topical spot-on ectoparasiticides are the newest method of insect control for pets, and hence, the segment is projected to account for a major share of the market by the end of the forecast period.
The global animal parasiticides market has been broadly segmented based on product, species, and region. In terms of product, the global market has been categorized into ectoparasiticides (oral tablets, dips, spray, spot-on, and others), endoparasiticides (oral suspension, injectable, feed additives, and others), and endectocides. The ectoparasiticides segment accounted for a key share of the global market, in terms of revenue, in 2017. The endoparasiticides segment is estimated to expand at a significant growth rate during the forecast period, and the segment is estimated to gain market share significantly by the end of 2026. Endectocides also offer several advantages over other endoparasiticides and ectoparasiticides. However, the side-effects of chemical constituents of endectocides are affecting the animal byproducts such as milk, meat, etc., which is likely to hamper the endectocides segment between 2018 and 2026.
In terms of species, the global animal parasiticides has been segregated into food-producing animals (cattle, poultry, swine, and others), companion animal (dogs, felines, and others), and other livestock. The companion animal (dogs, felines, and others) segment dominated the global market and is likely to maintain its dominance and marginal increase its market share by the end of 2026. Increase in the rate of adoption of companion animals such as dogs and cats is likely to propel the segment during the forecast period. However, the food-producing animals (cattle, poultry, swine, and others) segment is likely to expand during the forecast period due to the rise in production of cattle for food globally, increasing the usage of new drugs and antibiotics in order to protect farm animals from parasites and diseases. Cattle as a food-producing animal is estimated to report significant gain in market share by end of 2026 due to increasing demand for production of cattle for meat and other byproducts. The rise in production of cattle meat and by products led to import and export trade relation of countries.
In terms of region, the global animal parasiticides market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market and is projected to lose market share by the end of 2026. The market in North America is primarily driven by the rapid increase in number of livestock cultivation and rise in infection among companion animals due to the presence of prominent types of ticks in the U.S. Moreover, rise in contract farming and independent farmers for livestock production farms has been observed in the U.S., which is projected to fuel animal production farms in the U.S. during the forecast period. The market Asia Pacific is projected to expand at a rapid pace during the forecast period. China dominated the animal parasiticides market in Asia Pacific, whereas the market in countries in Rest of Asia Pacific such as Vietnam and the Philippines, is estimated to expand at a significant CAGR during the forecast period.
Companies such as Boehringer Ingelheim GmbH, Ceva Santé Animale, Elanco (Eli Lilly and Company), Merck & Co., Inc., and Zoetis, Inc. accounted for a major share of the global animal parasiticides market in 2017. Zoetis, Inc., dominated the market due to its diversified product portfolio, extensive geographical presence, and acquisition strategies. In 2015, the company invested around US$ 1.0 Bn in two significant acquisitions, one of them being the acquisition of PHARMAQ, which strengthened Zoetis’ core livestock business. Other global players operating in the market include Bimeda Animal Health, Vetoquinol, Virbac, The Chanelle Group, Sunmitomo Chemical Co., Ltd., and Bayer AG. Companies are emphasizing on strategy acquisition and collaboration with parallel companies in order to improve and strengthen their geographic presence in the international market.
Animal Parasiticides Market - Overview
This report on the animal parasiticides market analyzes the current and future scenario of the global market. Increase in disease indication among livestock, technological advancement of application of parasiticides methodology, and adoption of companion animals is anticipated to boost the animal parasiticides market. Increase trading facilities of live hogs/pigs, demand for meat, and innovation through clinical research activities are key drivers that are expected to drive the global animal parasiticides market during the forecast period.
The animal parasiticides market report comprises an elaborate executive summary, which includes market snapshot that provides information about various segments. It also provides information and data analysis of the country’s market with respect to the segments based on product, species, and country. A detailed qualitative analysis of drivers and restraints, and opportunities has been provided in the market overview section. Additionally, the section comprises the Porter’s Five Forces Analysis to help understand the competitive landscape in the market. This section also provides market attractiveness analysis in terms of country and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global animal parasiticides market.
Based on product, the animal parasiticides market has been segmented into ectoparasiticides (oral tablets, dips, spray, spot-on, and others), endoparasiticides (oral suspension, injectable, feed additives, and others), and endectocides. The market segments have been extensively analyzed based on increased use of parasiticides products on different species. Demand for disease-free meat and increasing awareness for treating the cultivated cattle or livestock are . Different types of species utilize parasiticides to treat zoonotic diseases either in oral tablet form, feed additives, or injection methodology. In terms of product, ectoparasiticides plays a major role, followed by endoparasiticides. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2016 to 2026. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2018 to 2026, considering 2017 as the base year.
Based on species, the market has been classified into food-producing animals (cattle, poultry, swine, and others), companion animal (dogs, felines, and others), and other livestock. Companion animals is a highly important species segment, which utilizes parasiticides in large amounts. Increasing adoption of dogs as pets in urbanized society is a major factor that is likely to propel the segment during the forecast period. According to an article published in MDPI, in 2018, Australia has a significantly high pet ownership rate, with an average of 38% households owning a dog, higher than that of the U.K, which stands at 24%. However, the dog ownership rate in the U.S. is 48%, which was estimated to be around 4.1 million dogs admitted in animal shelters in 2016. These figures indicate the rate of usage of parasiticides for companion animals (dogs) in 2016. The market segments have been analyzed based on available approved products, cost-effectiveness, and preference from veterans for treating the animals with various disease indications. The market size and forecast for each of these segments have been provided for the period from 2016 to 2028, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year
In terms of region, the global animal parasiticides market has been segmented into five major regions, and the key countries in the respective regions are: North America (U.S., Canada), Europe (U.K., Germany, Russia, France, Spain, Italy, Russia, and Rest of Europe), Asia Pacific (Japan, India, China, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC countries, South Africa, and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. The research study also covers the competitive scenario in these regions.
The report also profiles major players in the global animal parasiticides market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include Bayer AG., Bimeda Animal Health, Boehringer Ingelheim GmbH, Ceva Santé Animale, Elanco (Eli Lilly and Company), Merck & Co., Inc., Vetoquinol, and Zoetis Inc.
Global animal parasiticides market is segmented as given below:
Global Animal Parasiticides Market, by Product, 2016?2026
- Oral Tablets
- Oral Suspension
- Feed Additives
Global Animal Parasiticides Market, by Species, 2016?2026
- Food-Producing Animals
- Companion Animal
- Other Livestock
Global Animal Parasiticides Market, by Region, 2016?2026
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa