Animal Parasiticides Market - Emerging Industry Trends & Future Forecasts

 Major Objectives Behind This Study:

# To define, describe, segment, and forecast the global Veterinary Parasiticides Market by type, animal type, end user, and region.

# To forecast the size of the animal parasiticides market with respect to the five key regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

# To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).

# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.

# To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.

# To profile the key players in the global animal parasiticides market and comprehensively analyze their core competencies.

# To track and analyze competitive developments such as mergers and acquisitions; agreements, partnerships, and collaborations; service launches; and expansions of key players in the global animal parasiticides market.

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The global Veterinary Parasiticides Market is projected to reach USD 13.7 billion by 2025 from USD 9.7 billion in 2020, at a CAGR of 7.2% during the forecast period.

Major Industry Growth Boosters:

The increased pet population and increasing rising prevalence of zoonotic diseases are driving the growth of the animal parasiticides market. The base year considered for the study is 2019, while the forecast period is 2020 to 2025.

Target Audience:

# Veterinary hospitals and clinics
# Veterinary research institutes
# Animal health companies
# Animal farms
# Government associations
# Market research and consulting firms
# Venture capitalists and investors

Global Market Segmentation:

The animal farms segment is expected to witness the highest growth rate in the animal parasiticides market, by end user, during the forecast period

Based on end user, the animal farms segment is expected to register the highest CAGR during the forecast period. The increasing incidence of parasitic diseases and rising demand for animal-derived food products are the major factors supporting the growth of this segment.

By animal type, companion animals held the highest growth of the veterinary parasiticides market in 2019

On the basis of animal type, companion animals accounted for the highest growth in this market. This is attributed to the increasing number of companion animals and the rising prevalence of zoonotic diseases in dogs worldwide.

By type, the ectoparasiticides segment accounted for the largest share of the market in 2019

On the basis of type, ectoparasiticides segment accounted for the largest share of the animal parasiticides market. This can be attributed to factors such as the growing incidences of zoonotic diseases due to external parasites and increased population of companion animals.

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Geographical Growth Aspects:

North America will continue to dominate the market during the forecast period

Geographically, the global veterinary parasiticides market has been segmented into five major regional segments—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America accounted for the largest share of the market in 2019, followed by Europe and the Asia Pacific. North America’s leading position is primarily due to the rising pet expenditure, the growing population of companion animals, and the increasing consumption of animal-derived food products.

Key Players:

The global animal parasiticides market is fragmented, with many regional and global players vying for larger market shares. Bayer AG (Germany), Boehringer Ingelheim (Germany), Elanco (US), Zoetis (US), Merck (US), and PetIQ (US) are the major players in this market.