Animal Parasiticides Market By Industry Trends & Regional Forecast To 2025

According to a research report by Global Market Insights Inc., the animal parasiticides market is likely to surpass a valuation of $7 billion by 2025.



5 months ago | 3 min read

Increasing expenditure on animal healthcare is slated to push the global animal parasiticides market share over the coming years. The rapidly rising adoption of companion animals across the globe would majorly outline the industry outlook in a positive manner. In fact, as per the National Pet Owners Survey for 2017-2018 by American Pet Products Association, about 60.2 million U.S. households have a dog as their pet. In addition, rising animal-derived food product demand and an increasing number of veterinary practitioners are expected to further propel the animal parasiticides industry expansion. 

According to a research report by Global Market Insights Inc., the animal parasiticides market is likely to surpass a valuation of $7 billion by 2025.

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Meanwhile, the growing prevalence of parasitic infections in animals across animal shelters, which might pose a serious risks for shelter staff, visitors, and other animals would further augment the overall industry outlook over the forthcoming timeframe. In fact, as per the NCBI (National Center for Biological Information), Mexico reported the highest prevalence of GI parasites in the shelter and stray dogs, approximately 98%, while it was the lowest in Canada; 21%. It was reported to be at 75% for Serbia, 66% for Iran, and 37%; 35% for Australia. Such high occurrences of this issue would provide ample growth opportunities for the industry.

With regards to product, the ectoparasiticides market is projected to reach a valuation of $2.8 billion by the end of the analysis period. Increasing adoption of spot-ons, sprays, and easy operative pour-ons are contributing to product outlook. Better outcomes delivered by the product formulations in comparison to its counterparts and the subsequent rise in the demand for ectoparasiticides formulations would further foster industry growth. In addition, the product segment would also observe significant growth owing to its dual functionality.

In terms of the animal type, the increasing demand for proteins, animal-derived foods is likely to bolster the farm animals parasiticide segment growth. The rising consumption of meat across the globe is projected to drive the demand for farm animals reared for food. Additionally, growing awareness regarding zoonotic diseases and an upsurge in the animal healthcare expenditure should positively impel the segment size, thereby augmenting market share. Based on these factors, the segment is slated to grow at a rate of more than 4.6% through the projected timeframe.

Geographically, the North America animal parasiticides market is slated to foresee immense revenue expansion over the coming years led by the U.S. The anticipated growth is slated to come from the increasing adoption of companion animals across the region. In fact, the country accounted for more than 20% of the overall market revenue share in 2018.

Moreover, increasing animal healthcare expenditure owing to the region’s rising disposable income levels would drive the market outlook. Furthermore, an upsurge in the number of veterinary practitioners across the U.S. would also help augment the demand for animal parasiticides. Additionally, growth of the regional animal farming industry would also positively impel the U.S. animal parasiticides market.

Major market players are investing heavily in the innovation or acquisition of animal parasiticides, especially in the U.S., owing to the country’s vast and significantly lucrative pet healthcare industry.  Taking May of 2020 for instance, Merck purchased the U.S. rights for two parasiticides from Sentinel brands worth $400 million to further consolidate its canine parasite protection product portfolio.

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The competitive landscape of the global animal parasiticides market is inclusive of players such as Perrigo Company, Boehringer Ingelheim, Vetoquinol, Elanco, Ceva Sante Animale, Bayer, Zoetis, Virbac, and Merck among others.

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