Summary:
- The global animal parasiticides market size reached USD 9.9 Billion in 2023.
- The market is expected to reach USD 15.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.09% during 2024-2032.
- North America leads the market, accounting for the largest animal parasiticides market share.
- Ectoparasiticides account for the majority of the market share in the type segment due to their efficiency in treating ticks, fleas, and mites on animals.
- Companion animals hold the largest share in the animal parasiticides industry.
- Veterinary clinics and hospitals remain a dominant segment in the market as they specialize in treating parasitic infections.
- The rising pet ownership rate is a primary driver of the animal parasiticides market.
- Technological advancements and innovation in treatment methods are reshaping the animal parasiticides market.
Industry Trends and Drivers:
- Increasing pet ownership:
The growing pet ownership worldwide is a significant driver of the animal parasiticides market. As more people adopt pets, particularly in urban areas, there is an increased focus on maintaining their health and well-being. Pet owners are willing to invest in high-quality treatments to prevent and control parasitic infections, which are common in companion animals. The trend of “humanization” of pets, where owners treat pets like family members, is further boosting spending on healthcare products, including parasiticides. In addition, the availability of advanced veterinary care and the rising awareness about parasitic infections’ impact on pet health are driving the demand for effective parasiticides. This growing consumer focus on pet health has led to increased sales of both over-the-counter and prescription parasiticides, ensuring the steady growth of the market.
- Rising demand for livestock parasiticides:
The increasing global demand for animal protein, such as meat, milk, and eggs, is driving the need for livestock parasiticides. Parasitic infections can significantly affect the productivity and health of livestock, leading to economic losses for farmers. To maintain high standards of food production and prevent disease transmission, farmers are investing in parasiticides to ensure the health of their animals. Regulatory requirements on food safety and animal welfare have further encouraged the use of parasiticides in the livestock sector. As the global population continues to grow, the demand for food products of animal origin is expected to rise, further boosting the need for livestock parasiticides to ensure both the health of animals and the safety of food products.
- Technological advancements:
Innovations in animal healthcare technology are driving the growth of the parasiticides market. The development of more efficient and safer parasiticide formulations is helping to meet the increasing demand for effective treatments against parasites. For example, new-generation parasiticides offer longer-lasting protection, require fewer doses, and are more specific to different parasites, reducing side effects in animals. Additionally, the increasing focus on developing natural and environmentally friendly parasiticides is gaining traction among consumers and veterinarians who prefer sustainable solutions. The growing adoption of digital tools for animal health monitoring, such as wearable devices and smart sensors, is also contributing to the market’s growth by enabling timely diagnosis and treatment of parasitic infections in both pets and livestock.
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Animal Parasiticides Market Report Segmentation:
Breakup By Type:
- Ectoparasiticides
- Endoparasiticides
- Endectocides
Ectoparasiticides account for the majority of shares as they assist in controlling parasites such as fleas, ticks, and mites on animals.
Breakup By Animal Type:
- Companion Animals
- Livestock Animals
Companion animals dominate the market as owners of these animals spend on their healthcare more willingly.
Breakup By End User:
- Veterinary Clinics and Hospitals
- Animal Farms
- Home Care Settings
Veterinary clinics and hospitals represent the majority of shares as they use these medicines to treat and control parasitic infections.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Top Animal Parasiticides Market Leaders:
- Bimeda Group
- Boehringer Ingelheim GmbH
- Ceva Santé Animale
- Merck & Co. Inc.
- Norbrook Laboratories Limited
- PetIQ LLC
- Vetoquinol S.A.
- Virbac
- Zoetis Inc.
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