According to this latest publication from Meticulous Research®, the Animal Parasiticides Market is projected to reach $17.9 billion by 2030, at a CAGR of 7.3% during the forecast period 2023–2030. The growth of this market is attributed to the increasing prevalence of zoonotic and parasitic diseases, growing demand for animal-derived food products, and rising expenditure on animal health. In addition, the increasing number of livestock in emerging economies is expected to provide significant growth opportunities for this market.
However, the restricted use of parasiticides in food-producing animals hinders the growth of this market to a notable extent. In addition, the rising inclination towards vegetarian and vegan diets is a major challenge for market growth.
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Animal Parasiticides Market: Future Outlook
The animal parasiticides market is segmented by product type, parasite type, animal type, and geography. The study also evaluates industry competitors and analyzes the market at the country and regional levels.
Asia-Pacific: The Fastest-Growing Market
Asia-Pacific is slated to record the fastest growth rate in the animal parasiticides market during the forecast period. The growth of this market is attributed to the increasing demand for animal-derived food products, growing awareness about livestock health and advanced livestock farming systems, and the growing adoption of pets in developing countries of this region.
The report includes a competitive landscape based on an extensive assessment of product portfolio, parasite type, animal type, geographic presence, and the key growth strategies adopted by leading market players in the industry between 2020 and 2022. The key players profiled in the animal parasiticides market are 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.).
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Scope of the Report
Animal Parasiticides Market, by Product Type
Animal Parasiticides Market, by Parasite Type
Mite, Tick, Flea, Lice, and Grub Infestation
Animal Parasiticides Market, by Animal Type
Other Companion Animals
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Key questions answered in the report:
Which 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?
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