Implementation of seasonal awareness campaigns encourages timely parasite control, impacting market dynamics positively.
WILMINGTON, Del., Dec. 12, 2023 /PRNewswire/ -- The global animal parasiticides market is estimated to flourish at a CAGR of 5.7% from 2023 to 2031. According to Transparency Market Research, sales of animal parasiticides are slated to total US$ 15.6 billion by the end of the aforementioned period of assessment.
Evolving regulations on livestock and pet care drive the market. Stricter compliance measures and guidelines for parasite control spur the development of new formulations and treatment approaches. Increasing recognition of the interconnection between human, animal, and environmental health prompts a collaborative "One Health" approach. This drives the demand for parasiticides to prevent zoonotic diseases, benefiting animals and humans.
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Animal Parasiticides Market Report Scope:
Report Coverage | Details |
Forecast Period | 2023-2031 |
Base Year | 2022 |
Size in 2022 | US$ 9.4 Bn |
Forecast (Value) in 2031 | US$ 15.6 Bn |
Growth Rate (CAGR) | 5.7 % |
No. of Pages | 281 |
Segments covered | Product, Species |
Expansion into untapped markets in developing regions presents opportunities. Growing urbanization, rising disposable income, and improved awareness about animal health amplify the demand for effective parasiticides.
Advancements in understanding animal microbiomes shape new strategies for parasite control. Harnessing microbiome knowledge leads to innovative approaches like probiotics and microbiota-based parasiticides for preventive care. Exploration of novel delivery systems, such as transdermal patches or wearable technology for sustained release, enhances convenience and compliance, revolutionizing parasite treatment methodologies.
Key Findings of the Market Report
Animal Parasiticides Market Growth Drivers & Trends
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Global Animal Parasiticides Market: Regional Profile
Animal Parasiticides Market: Competitive Landscape
The animal parasiticides market highlights a competitive landscape driven by leading players like Zoetis, Bayer AG, and Boehringer Ingelheim. These key industry giants dominate with diverse portfolios of innovative parasiticides, from spot-ons and oral formulations to collars and injectables.
Intensified research in developing regions has empowered local players like Ceva Santé Animale and Elanco, fostering competition. Collaborations for novel formulations and acquisitions to expand product offerings characterize the market.
Evolving consumer demand for sustainable, effective, and safe parasiticides propels continuous innovation, driving competitiveness among established and emerging players in the global animal health sector. Some prominent manufacturers are as follows:
Product Portfolio
Animal Parasiticides Market: Key Segments
By Product
By Species
By Region
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