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Animal Parasiticides Market Size
Animal Parasiticides Market size surpassed USD 10 billion in 2022 and is projected to exhibit over 6.5% CAGR between 2023 and 2032. A remarkable surge in the incidences of zoonotic and transboundary diseases is a leading factor contributing to market growth.
Zoonoses are a great public health concern and a direct human health hazard that may even lead to death. The increased risk of parasitic zoonoses such as trichinellosis, visceral larva migrans, cutaneous larval migrans, hydatidosis, cryptococcosis, cryptosporidiosis, and fascioliasis has bolstered the usage of parasiticides for companion and livestock animals. This, in turn, may propel the sales of animal parasiticides.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 10 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 6.5% |
| 2032 Value Projection: | USD 19.4 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 292 |
| Tables, Charts & Figures: | 502 |
| Segments covered: | Product, Animat type, End-use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The rising demand for animal parasiticides used for better treatment in pets and livestock has elevated the use of parasiticide products. Besides, growing concerns about animal health and increasing investments focused on developing innovative veterinary healthcare products will positively impact the animal parasiticides business. With an elevated production by farm animals, the chances of parasitic infection increase, especially in developing countries, due to sub-optimal conditions, ultimately leading to loss of production. Several drugs and vaccines have been developed that are easily accessible to farmers to gain control over the parasitic infection.
Restrictions on parasiticide consumption in livestock animals may restrict the animal parasiticides market share. Several governments and regulatory authorities have imposed stringent norms on many parasiticides characterized for usage in food-producing animals to make sure that the products intended for human consumption are free of inappropriate residues. These regulations may demand that animal slaughter must not take place for prescribed periods after product administration or that the product is not used in animals producing milk for human consumption, thus hampering the market revenue.
Animal Parasiticides Market Analysis
Animal parasiticides market from the ectoparasiticides segment is anticipated to be worth over USD 12 billion by 2032. Increasing utilization of ectoparasiticides for the treatment of insect infestation, such as lice, mites, fleas, and ticks, in animals and growing investment in the development of new veterinary products will enhance business performance through 2032. Endectocides have low mammalian toxicity, are convenient to use, and exhibit broad-spectrum activity against arthropods and nematodes, making them an ideal solution for animal healthcare management. Besides, the commendable rise in pet ownership across developed economies and the availability of these products in varied ranges, such as sprays, dips, collars, pour- ons and spot-ons, ear tags, oral tablets, and others, will favor market expansion.
Animal parasiticides market from the companion animals segment is primed to expand at over 7% CAGR between 2023 and 2032. The adoption of companion and pet animals has increased substantially over the past several decades, but these are also an extensive source of disease-producing agents. The escalating adoption of pets and companion animals has put human health at risk due to the possible spread of infections. The increasing population of companion animals, growing animal healthcare expenditure, and rising awareness about pets' health and zoonotic diseases drive the industry landscape.
North America animal parasiticides market amassed over 35% revenue share in 2022 and is poised to witness remarkable growth through 2032. A notable surge in animal healthcare expenditures and the accelerating rate of pet adoption will significantly contribute to regional market growth. In addition, the availability of a well-advanced healthcare system and the presence of leading players in the United States will help North America emerge as a prominent business hub by 2032.
Animal Parasiticides Market Share
Leading companies operating in this business include:
- Zoetis Inc
- Merck & Co Inc
- Elanco Animal Health Incorporated
- Boehringer Ingelheim International GmbH
- Ceva Sante Animale
- Virbac
- Vetoquinol S.A
- PetIQ, LLC
- Norbrook
- Bimeda, Inc.
The animal parasiticides market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:
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By Product
- Ectoparasiticides
- Spray
- Dips
- Collars
- Pour- ons and Spot-ons
- Ear tags
- Oral tablets
- Other ectoparasiticides
- Endoparasiticides
- Injectables
- Oral solids
- Oral liquids
- Feed additives
- Other endoparasiticides
- Endectocides
By Animal
- Farm Animals
- Poultry
- Swine
- Cattle
- Sheep and goats
- Other farm animals
- Companion Animals
- Dogs
- Cats
- Horses
- Other companion animals
By End-use
- Veterinary hospitals and clinics
- Animal farms
- Home care settings
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia and New Zealand
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Turkey
- Rest of Middle East & Africa
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