Animal Parasiticides Market Analysis

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.