Animal Parasiticides Market size to surpass $19Bn by 2032

Animal Parasiticides Market size is likely to garner USD 19 billion by 2032, as per a new research report announced by Global Market Insights Inc.
 

The noticeable rise in animal health expenditure is among the leading factors driving the demand for animal parasiticides. The spending on animal healthcare has grown significantly in the last decade, attributed to the increased awareness about animal health among pet owners and a significant rise in disposable incomes.

Increasing incidences of zoonotic diseases to favor the adoption of endo parasiticides

Endoparasiticides segment  registered over 27% of the overall market share in 2022. Endoparasiticides are drugs that prevent and cure parasitic infections in the body and are used to control parasites, including tapeworms, roundworms, and flukes, favoring their adoption during the forecast timeframe. These are available in a variety of formulations, including gels, ointments, and sprays. The elevated risk of zoonotic and transboundary diseases in companion and livestock animals will further augment product sales by 2032.
 

Browse key industry insights spread across 292 pages with 488 market data tables & 16 figures & charts from the report, “Animal Parasiticides Market Size By Product (Ectoparasiticides {Spray, Dips, Collars, Pour- ons, Spot-ons, Ear tags, Oral tablets}, Endoparasiticides {Injectables, Oral solids, Oral liquids, Feed additives}, Endectocides) By Animal (Farm, {Poultry, Swine, Cattle, Sheep, Goats}, Companion {Dogs, Cats, Horses}), By End-use (Veterinary Hospitals, Clinics, Animal Farms, Homecare Settings), Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/animal-parasiticides-market
 

Growing livestock population to drive product usage among farm animals

Animal parasiticides industry value from the farm animals segment is set to grow over USD 7.8 billion by 2032. Sheep, goats, Cattle, and other livestock animals act as stockpiles of pathogens of domestic zoonoses and can transmit diseases such as Cryptococcosis, Hydatidosis, Cryptosporidiosis, and Fascioliasis to humans. Direct contact between infected animals and humans, such as caretakers, farm workers, veterinarians, abattoir workers, or village people, can pose significant health risks. The increasing awareness about these zoonotic diseases and the growing livestock animal population drives the development for parasiticides for farm animals.
 

Rising pet adoption to boost product sales across Asia Pacific

Asia Pacific animal parasiticides market is foreseen to exhibit over 9.5% CAGR  by 2032. The expansion of the regional industry is credited to the increasing population of farm animals and the high adoption rate of companion animals. Additionally, growing animal health concerns and increased expenditure on animal health and well-being will drive the demand for animal parasiticides in the Asia Pacific.
 

Escalating regulatory approvals to strengthen the competitive outlook

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.