Animal Parasiticides Market - Lucrative Opportunities in Emerging Markets

 Major Objectives Behind This Study:

# To define, describe, segment, and forecast the animal parasiticides market based on type, animal type, end user, and region.

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

# To assess the animal parasiticides market with regard to Porter’s five forces, regulatory landscape, the value chain, the supply chain, the ecosystem, patent protection, and the impact of COVID-19 global pandemic.

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

# To forecast the size of the animal parasiticides market in North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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

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

# To track and analyze competitive developments such as product launches & approvals, acquisitions, expansions, partnerships, agreements in the animal parasiticides market.

Recent Developments:

# In June 2021, Boehringer Ingelheim partnered with Lifebit (UK) to detect global infectious disease outbreaks using AI and natural language processing technology.

# In August 2020, Elanco Animal Health Incorporated (US) acquired Bayer Animal Health (Germany) for USD 6.89 billion to expand its scale and capabilities in the animal health industry.

# In August 2021, Zoetis Inc. (US) acquired Jurox (Australia) to expand its product portfolio and manufacturing capacity with potential for global expansion.

# In August 2020, Merck & Co., Inc. (US) acquired worldwide rights of Vexocan brand of parasiticide from Elanco Animal Health for the ruminants portfolio.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258895412

Major Growth Driving Factors:

Factors such as the rising demand for animal-derived food products, increasing investments by private players, growing concerns of zoonotic diseases, regulations for preventing the spread of animal diseases, growing companion animal ownership rates, and rising animal health expenditure are driving the growth of the animal parasiticides market. However, a shift toward vegetarianism and restrictions on the use of parasiticides in food-producing animals are expected to restrain the growth of this market during the forecast period.

RESTRAINTS:

Regulations restricting the use of parasiticides for food-producing animals

The use of parasiticides in livestock animals is subject to various federal regulations in many countries. The extra-label use of these topical parasiticides could leave residues that may, on consumption by human beings, have side effects. As a result, the use of these parasiticides, especially endoparasiticides, needs to be regulated; safe residue concentrations and withdrawal periods for antiparasitics used in food-producing animals must be standardized, and slaughtered animals need to be monitored for possible unsafe residues.

Shift towards vegetarianism

Globally, there is a significant rise in the prevalence of obesity and other chronic disorders. Owing to this, many people are shifting toward a vegetarian diet from a predominantly non-vegetarian diet. According to Google Trends, interest in veganism increased sevenfold between 2014 and 2020. The US Department of Agriculture releases dietary guidelines on a timely basis. These guidelines influence nutrition education, public policy, and food programs and provide guidance on food choices with recommendations for weight management and physical activity. In addition, these guidelines encourage the consumption of fruits and vegetables, whole grains, and low-fat milk and equivalents.

OPPORTUNITY:

Lucrative opportunities in emerging markets

Over the last few years, companion animal ownership has witnessed a steady increase, especially in emerging countries such as India, China, Brazil, and other APAC and Latin American countries. Rapid urbanization and growing disposable incomes are driving pet ownership in these countries. Many pet owners in these countries are now willing to spend more on pet care.

On the other hand, emerging countries like India and China have robust livestock markets. According to the National Dairy Development Board, milk production in India has increased every year—from 146.3 million tons in 2015 to 165.4 million tons in 2017 and 187.7 million tons in 2019. Moreover, India is the world’s largest milk producer, accounting for 19% of the global market. As of January 2020, China is the world’s largest pork producer, producing about 55 million metric tons of pork each year. Milk production and consumption in China are also increasing at a rapid pace.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=258895412

CHALLENGES:

The stringent regulatory approval process for drugs

To ensure that animal parasiticides have no side effects on animal health and are of sufficient quality and efficacy, authorities have set stringent regulations to approve animal parasiticides.

The US FDA; Canadian Food Agency; European Medical Agency; Ministry of Agriculture, Forestry, and Fisheries (MAFF); and Australian Pesticides and Veterinary Medicines Authority (APVMA) are some major regulatory bodies that approve medicines used for veterinary purposes.

Diversity in parasite species

The diversity of parasite species is a major concern while diagnosing the cause of illness in animals. The identification of the species is followed by developing a new drug for treating ailments caused by the same; this is a time-consuming process. Sometimes, an animal may be administered with an endoparasiticide that differs from the one designed for the diagnosed causative endoparasite. In such cases, the causative agent may develop immunity against the endoparasiticide. Therefore, manufacturers of parasiticides must conduct different tests on animals to prove the efficiency of the drug developed. This is a time-consuming and expensive task, which may lead to the disapproval of new drugs developed as parasiticides.

End Users:

Veterinary Clinics & Hospitals accounted for the largest share of animal parasiticides market in 2020

Based on end users, the animal parasiticides market is segmented into veterinary clinics & hospitals, animal farms, and home care settings. Veterinary clinics & hospitals accounted for the largest share of 61.4% of the animal parasiticides market in 2020. This segment is projected to reach USD 8,252.7 million by 2026 from USD 5,952.6 million in 2021, at a CAGR of 6.8%. The large share of this segment can be attributed to the higher adoption of animal parasiticides in hospital settings, the increasing incidence of parasitic diseases, and growing awareness about animal health in developing countries.

Read the Detailed Article@
https://www.marketsandmarkets.com/Market-Reports/animal-parasiticide-market-258895412.html

Animal Parasiticides Market - Emerging Technological Innovations & Future Forecasts

 Overview:

This study involved four major approaches in estimating the current animal parasiticides market size. Extensive research was conducted to collect information on the market as well as its peer and parent markets.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the value market. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Research Methodologies Followed:

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include CEOs, vice presidents, marketing and sales directors, business development managers, technology and innovation directors of animal parasiticide manufacturing companies, key opinion leaders, and suppliers and distributors. Primary sources from the demand side include veterinary hospitals and clinics, research institutes, academic institutions, and contract manufacturing organizations.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258895412

Secondary Research:

his research study involved widespread secondary sources; directories; databases such as Bloomberg Business, Factiva, and Dun & Bradstreet; white papers; annual reports; company house documents; investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the animal parasiticides market. It was also used to obtain important information about key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

Impact of Covid-19:

In the optimistic scenario, the COVID-19 pandemic has positively impacted the animal parasiticides market. Because of the pandemic, there was an increase in dog and cat adoption from animal shelters in many developed and developing nations. This increased the demand for pet care products for a brief period. However, the abandonment of pet dogs and animal cruelty have also been reported amidst the pandemic due to rumors of animals as potential reservoirs of COVID-19.

In a pessimistic scenario, it could be assumed that the COVID-19 pandemic has lowered the demand for animal care. As a result of the pandemic in most veterinary clinics & hospitals and pet care centers, footfall was limited due to infection control measures and nationwide lockdowns. This has resulted in most major players functioning at negligible capacity or even immobilized them completely.

RESTRAINTS: Regulations restricting the use of parasiticides for food-producing animals

The use of parasiticides in livestock animals is subject to various federal regulations in many countries. The extra-label use of these topical parasiticides could leave residues that may, on consumption by human beings, have side effects. As a result, the use of these parasiticides, especially endoparasiticides, needs to be regulated; safe residue concentrations and withdrawal periods for antiparasitics used in food-producing animals must be standardized, and slaughtered animals need to be monitored for possible unsafe residues.

OPPORTUNITY: Lucrative opportunities in emerging markets

Over the last few years, companion animal ownership has witnessed a steady increase, especially in emerging countries such as India, China, Brazil, and other APAC and Latin American countries. Rapid urbanization and growing disposable incomes are driving pet ownership in these countries. Many pet owners in these countries are now willing to spend more on pet care.

On the other hand, emerging countries like India and China have robust livestock markets. According to the National Dairy Development Board, milk production in India has increased every year—from 146.3 million tons in 2015 to 165.4 million tons in 2017 and 187.7 million tons in 2019. Moreover, India is the world’s largest milk producer, accounting for 19% of the global market. As of January 2020, China is the world’s largest pork producer, producing about 55 million metric tons of pork each year. Milk production and consumption in China are also increasing at a rapid pace.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=258895412

Veterinary Clinics & Hospitals accounted for the largest share of animal parasiticides market in 2020”

Based on end users, the animal parasiticides market is segmented into veterinary clinics & hospitals, animal farms, and home care settings. Veterinary clinics & hospitals accounted for the largest share of 61.4% of the animal parasiticides market in 2020. This segment is projected to reach USD 8,252.7 million by 2026 from USD 5,952.6 million in 2021, at a CAGR of 6.8%. The large share of this segment can be attributed to the higher adoption of animal parasiticides in hospital settings, the increasing incidence of parasitic diseases, and growing awareness about animal health in developing countries.

Animal Parasiticides Market worth $13.7 billion by 2026

Overview of This Study:

This study involved four major approaches in estimating the current animal parasiticides market size. Extensive research was conducted to collect information on the market as well as its peer and parent markets.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the value market. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Download PDF Brochure@ 
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258895412

Market Size Estimation:

The total size of the animal parasiticides market was arrived at after data triangulation from four different approaches, as mentioned below:

Bottom-up Approach: Revenues of individual companies were gathered from public sources and databases.Shares of the animal parasiticides businesses of leading players were gathered from secondary sources to the extent available. In certain cases, the share of the business unit was ascertained after a detailed analysis of various parameters, including product portfolio, market positioning, selling price, and geographic reach and strength. Individual shares or revenue estimates were validated through expert interviews.

Country level Analysis: The size of the animal parasiticides market was obtained from the annual presentations of leading players and secondary data available in the public domain. The share of animal parasiticides in the overall animal health market was obtained from secondary data and validated by primary participants to arrive at the total animal parasiticides market. Primary participants further validated the numbers.

Primary Interviews: As part of the primary research process, individual respondents’ insights on the market size and growth were taken during interviews (regional and global, as applicable). All responses were collated, and a weighted average was taken to derive a probabilistic estimate of the market size and growth rate.

Geographic market assessment (by region & country): The geographic assessment was done using the following approaches:

Approach 1: Geographic revenue contributions/splits of leading players in the market (wherever available) and respective growth trends.

Approach 2: Geographic adoption trends for individual product segments by end users and growth prospects for each of the segments (assumptions and indicative estimates validated from primary interviews).

Expected Revenue Surge:

The global animal parasiticides market is projected to reach USD 13.7 billion by 2026 from USD 9.7 billion in 2021, at a CAGR of 7.2% during the forecast period.

Major Growth Influencing Factors:

Factors such as the rising demand for animal-derived food products, increasing investments by private players, growing concerns of zoonotic diseases, regulations for preventing the spread of animal diseases, growing companion animal ownership rates, and rising animal health expenditure are driving the growth of the animal parasiticides market. However, a shift toward vegetarianism and restrictions on the use of parasiticides in food-producing animals are expected to restrain the growth of this market during the forecast period.

End Users:

Veterinary Clinics & Hospitals accounted for the largest share of animal parasiticides market in 2020

Based on end users, the animal parasiticides market is segmented into veterinary clinics & hospitals, animal farms, and home care settings. Veterinary clinics & hospitals accounted for the largest share of 61.4% of the animal parasiticides market in 2020. This segment is projected to reach USD 8,252.7 million by 2026 from USD 5,952.6 million in 2021, at a CAGR of 6.8%. The large share of this segment can be attributed to the higher adoption of animal parasiticides in hospital settings, the increasing incidence of parasitic diseases, and growing awareness about animal health in developing countries.

Request Sample Pages@ 
https://www.marketsandmarkets.com/requestsampleNew.asp?id=258895412

Geographical Growth Scenario:

North America accounted for the largest share of the animal parasiticides market in 2020

On the basis of region, the animal parasiticides market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of 40.3% of the global animal parasiticides market in 2020. This market is projected to reach USD 5,179.1 million by 2026 from USD 3,879.4 million in 2021, at a CAGR of 5.9%.

The large share of North America is due to its well-established base of the animal health industry, the high adoption of companion animals, and the growing expenditure on animal health. The market in Latin America is expected to grow at the highest CAGR of 8.8% during the forecast period. This can be attributed to the growing population of livestock animals, increasing consumption of animal-derived food products, and growing adoption of pets.

Animal Parasiticides Market worth $13.7 billion by 2026

 Major Growth Influencing Factors:

Factors such as the rising demand for animal-derived food products, increasing investments by private players, growing concerns of zoonotic diseases, regulations for preventing the spread of animal diseases, growing companion animal ownership rates, and rising animal health expenditure are driving the growth of the animal parasiticides market.

However, a shift toward vegetarianism and restrictions on the use of parasiticides in food-producing animals are expected to restrain the growth of this market during the forecast period. In this report, the animal parasiticides market is segmented on the basis of type, animal type, end user, and region.

Download PDF Brochure@ 

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258895412

Expected Revenue Growth:

The global animal parasiticides market is projected to reach USD 13.7 billion by 2026 from USD 9.7 billion in 2021, at a CAGR of 7.2% during the forecast period.

Ectoparasiticides segment accounted for the largest share in the animal parasiticides market.

Based on type, the animal parasiticides market is segmented into endoparasiticides, ectoparasiticides, and endectocides. The ectoparasiticides segment accounted for the largest share of 57.9% of the global animal parasiticides market in 2020. This segment is projected to reach USD 8,582.1 million by 2026 from USD 5,703.9 million in 2021, at a CAGR of 8.5%. The large share of this segment can be attributed to the higher adoption of ectoparasiticides as compared to other products. The increasing population of companion animals and rising pet ownership in developed countries are also expected to support the growth of this market during the forecast period.

Companion Animals segment is expected to witness the fastest growth in the forecast period.

Based on animal type, the animal parasiticides market is segmented into companion animals and livestock animals. In 2020, companion animals accounted for the largest share of 52.2% of the global animal parasiticides market. This segment is projected to reach USD 7,633.2 million by 2026 from USD 5,130.2 million in 2021, at a CAGR of 8.3%. The large share of this segment is primarily attributed to the increasing expenditure on pet animals and increasing companion animal ownership in developed countries.

Veterinary Clinics & Hospitals accounted for the largest share of animal parasiticides market in 2020

Based on end users, the animal parasiticides market is segmented into veterinary clinics & hospitals, animal farms, and home care settings. Veterinary clinics & hospitals accounted for the largest share of 61.4% of the animal parasiticides market in 2020. This segment is projected to reach USD 8,252.7 million by 2026 from USD 5,952.6 million in 2021, at a CAGR of 6.8%. The large share of this segment can be attributed to the higher adoption of animal parasiticides in hospital settings, the increasing incidence of parasitic diseases, and growing awareness about animal health in developing countries.

North America accounted for the largest share of the animal parasiticides market in 2020

On the basis of region, the animal parasiticides market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of 40.3% of the global animal parasiticides market in 2020. This market is projected to reach USD 5,179.1 million by 2026 from USD 3,879.4 million in 2021, at a CAGR of 5.9%. The large share of North America is due to its well-established base of the animal health industry, the high adoption of companion animals, and the growing expenditure on animal health. The market in Latin America is expected to grow at the highest CAGR of 8.8% during the forecast period. This can be attributed to the growing population of livestock animals, increasing consumption of animal-derived food products, and growing adoption of pets.

Request Sample Pages@ 

https://www.marketsandmarkets.com/requestsampleNew.asp?id=258895412

Key Market Players:

The prominent players in the global animal parasiticides market are Zoetis Inc. (US), Elanco Animal Health Incorporated (US), Virbac (France), Merck & Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Ceva Santé Animale (France), Vetoquinol S.A. (France), PetIQ, Inc. (US), Norbrook (Ireland), and Bimeda Animal Health (US).

Animal Parasiticides Market - Expected Revenue Growth in Near Future

Overview of This Study:

The study involved four major activities for estimating the size of the animal parasiticides market. Exhaustive secondary research was done to collect information on the market, including its peer markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Expected Revenue Growth:

The global animal 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. Market growth can be attributed to the growing population of companion animals, rising demand for animal-derived food products, growing concerns of zoonotic diseases, rising animal pet expenditure, and increasing investments from private players.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258895412

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

Geographically, the global animal 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 Market Players:

The prominent players in the global Animal parasiticides market are Boehringer Ingelheim (Germany), Elanco (US), Zoetis (US), Merck (US), and Virbac (France).

Recent Developments in the Global Animal Parasiticides Market:

# In February 2020, Zoetis launched Simparica Trio, a parasiticide for dogs with, or at risk from, mixed external and internal parasitic infestations.

# In February 2020, Elanco signed an agreement with Merck Animal Health to divest its worldwide rights for Vecoxan, used for the prevention and treatment of coccidiosis in calves and lambs.

# In February 2020, Vetoquinol acquired rights to Profendor and Drontal (parasiticides for companion animals offered by Elanco) for the European Economic Area and the UK.

# In August 2019, Boehringer Ingelheim opened a Health Management Center in China.

Key Questions Addressed in the Report

# Which are the top 10 players operating in the animal parasiticides market?
# What are the drivers, restraints, opportunities, and challenges impacting the market?
# What are the prevailing industry trends?
# What is the current scenario of the animal parasiticides market?
# How is the animal parasiticides market performing in different regions across the globe?

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=258895412

Research Methodology Followed:

Top-down and bottom-up approaches were used to validate the size of the global animal parasiticides market and dependent submarkets. Various secondary sources such as directories, industry journals, databases, and annual reports of companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both the supply and demand sides have been interviewed to obtain and validate information as well as assess the dynamics of this market.

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

Animal Parasiticides Market - Major Sure in Revenue is Expected by 2025

Overview of This Study:

This 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. 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.

Global Industry Segmentation:

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.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258895412

By animal type, companion animals held the highest growth of the animal 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.

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.

North America dominated the animal parasiticides market in 2019

North America accounted for the largest share of the animal parasiticides market in 2019, followed by Europe and the Asia Pacific. High pet spending,increased awareness about animal health, and the growing companion animal population are the major factors responsible for the large share of North America in the animal parasiticides market.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=258895412

Global Key Players:

The prominent players in this market are Boehringer Ingelheim (Germany),Elanco (US), Zoetis (US), Merck & Co. (US), and Virbac (France).

Animal Parasiticides Market - Forthcoming Trends & Future Forecasts

The global animal 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. Market growth can be attributed to the growing population of companion animals, rising demand for animal-derived food products, growing concerns of zoonotic diseases, rising animal pet expenditure, and increasing investments from private players.

Global Industry 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.

Download PDF Brochure@ 
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258895412

North America dominated the animal parasiticides market in 2019

North America accounted for the largest share of the animal parasiticides market in 2019, followed by Europe and the Asia Pacific. High pet spending,increased awareness about animal health, and the growing companion animal population are the major factors responsible for the large share of North America in the animal parasiticides market.

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.

By animal type, companion animals held the highest growth of the animal 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.

Global Leaders:

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.

Request Sample Pages@ 
https://www.marketsandmarkets.com/requestsampleNew.asp?id=258895412

Boehringer Ingelheim was a leading player in the animal parasiticides market in 2019. The company’s strong focus on R&D and investments in collaborations, partnerships, and acquisitions have ensured its position in the market. It focuses on expansions to strengthen its geographic footprint, presence, and growth. For instance, in August 2019, the company opened a Health Management Center in China.

Bayer has a strong portfolio of parasiticides for companion as well as livestock animals. Over the years, the company has maintained its leading position in the market through continuous innovation and the launch of advanced products. In this regard, in 2019, it launched three products in China. In addition, Bayer focuses on expanding its product portfolio and geographic presence by means of agreements, partnerships, and joint ventures. For example, in July 2018, Bayer Animal Health GmbH signed a global license agreement with Mitsui Chemicals Agro (Japan) to develop innovative parasiticides for companion animals based on MCAG’s innovation and technology.

Elanco (US) is one of the largest players in the animal parasiticides market. In order to remain competitive and grow, the company focuses on expanding and deepening its partnerships with existing customers, enhancing operation excellence and quality, enhancing capabilities and expertise, and developing innovative products. The company pursues a number of organic and inorganic growth strategies.

Animal Parasiticides Market is Expecting a Huge Technological Makeover by 2025

Research Methodologies Followed in The Study:

Secondary Research:

Various secondary sources such as the World Health Organization (WHO), International Federation for Animal Health (IFAH), Animal Health Institute (AHI), and American Pet Products Association (APPA), alongside the annual reports, press releases, and filings of market players, have been used to identify and collect information useful for this market study.

Primary Research

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include CEOs, consultants, subject-matter experts, directors, general managers, developers, and other key opinion leaders of companies that offer animal parasiticides.

Primary research was conducted to identify segmentation types, industry trends; animal types; key players; key market dynamics such as drivers, opportunities, challenges; and key player strategies.

Download PDF Brochure@ 

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258895412

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

Recent Developments:

# In February 2020, Zoetis launched Simparica Trio, a parasiticide for dogs with, or at risk from, mixed external and internal parasitic infestations.

# In February 2020, Elanco signed an agreement with Merck Animal Health to divest its worldwide rights for Vecoxan, used for the prevention and treatment of coccidiosis in calves and lambs.

# In February 2020, Vetoquinol acquired rights to Profendor and Drontal (parasiticides for companion animals offered by Elanco) for the European Economic Area and the UK.

# In August 2019, Boehringer Ingelheim opened a Health Management Center in China.

North America dominated the animal parasiticides market in 2019

North America accounted for the largest share of the animal parasiticides market in 2019, followed by Europe and the Asia Pacific. High pet spending,increased awareness about animal health, and the growing companion animal population are the major factors responsible for the large share of North America in the animal parasiticides market.

Request Sample Pages@ 

https://www.marketsandmarkets.com/requestsampleNew.asp?id=258895412

Key Questions Addressed in the Report:

# Which are the top 10 players operating in the animal parasiticides market?

# What are the drivers, restraints, opportunities, and challenges impacting the market?

# What are the prevailing industry trends?

# What is the current scenario of the animal parasiticides market?

# How is the animal parasiticides market performing in different regions across the globe?

Global Leaders:

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.

Animal Parasiticides Market to Experience Steady Rate to Gain Exponential Revenue Growth

Research Methodologies Followed for This Research:

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include CEOs, consultants, subject-matter experts, directors, general managers, developers, and other key opinion leaders of companies that offer animal parasiticides.

Primary research was conducted to identify segmentation types, industry trends; animal types; key players; key market dynamics such as drivers, opportunities, challenges; and key player strategies.

Secondary Research:

Various secondary sources such as the World Health Organization (WHO), International Federation for Animal Health (IFAH), Animal Health Institute (AHI), and American Pet Products Association (APPA), alongside the annual reports, press releases, and filings of market players, have been used to identify and collect information useful for this market study.

Download PDF Brochure@ 

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258895412

Overview of This Study:

The study involved four major activities for estimating the size of the animal parasiticides market. Exhaustive secondary research was done to collect information on the market, including its peer markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

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

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.

Recent Developments:

# In February 2020, Zoetis launched Simparica Trio, a parasiticide for dogs with, or at risk from, mixed external and internal parasitic infestations.

# In February 2020, Elanco signed an agreement with Merck Animal Health to divest its worldwide rights for Vecoxan, used for the prevention and treatment of coccidiosis in calves and lambs.

# In February 2020, Vetoquinol acquired rights to Profendor and Drontal (parasiticides for companion animals offered by Elanco) for the European Economic Area and the UK.

# In August 2019, Boehringer Ingelheim opened a Health Management Center in China.

Request Sample Pages@ 

https://www.marketsandmarkets.com/requestsampleNew.asp?id=258895412

North America dominated the animal parasiticides market in 2019

North America accounted for the largest share of the animal parasiticides market in 2019, followed by Europe and the Asia Pacific. High pet spending,increased awareness about animal health, and the growing companion animal population are the major factors responsible for the large share of North America in the animal parasiticides market.

Global Leaders:

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.

Read the Detailed Article@ 
https://www.marketsandmarkets.com/Market-Reports/animal-parasiticide-market-258895412.html