Animal Parasiticides Market Size By Product [Ectoparasiticides (Sprays, Dips, Collars, Pour-Ons and Spot-Ons, Ear Tags), Endoparasiticides (Injectables, Orals, Feed additives), Endectocides], By Animal Type (Farm Animals, Companion Animals), Regional Outlook (U.S., Canada, Germany, UK, Spain, Italy, France, Poland, Russia, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Published Date: September 2017 | 130 Pages | Report ID: GMI2114 | Report Format: PDF
Animal Parasiticides Market valued over USD 5 billion in 2016 and is projected to grow with nearly 4% CAGR from 2017 to 2024.
U.S Animal Parasiticides Market size, by Product, 2013-2024 (USD Million)
A whooping rise in the zoonotic diseases prevalence and transmission from pets and farm animals to humans is envisaged to drive the global market. According to the ESCCAP, dogs and cats in Europe are frequently infested with endoparasites, ectoparasites and other vector-borne parasites. The body sets up guidelines for the prevention, control and treatment of companion animal parasites, with an aim to protect pet’s health as well as public’s health by plummeting the possible risk of zoonotic parasite transmission.
Cramping many animals in an inadequate and unhygienic space should also elevate the need to prevent and control parasiticides infection. Rapid and intensified development of neoteric products will impel global market growth.
Rising number of companion animals and the preventive measures taken by their owners will serve as a high impact rendering factor for spurring pet parasiticides products demand. Furthermore, rising focus of animal health companies on developing promising animal parasiticides products will propel business growth over coming years.
Soaring demand for animal source protein will further drive animal health products sales and consequently fuel industry growth. Additionally, favorable government initiatives for prevention and control of animal infections and spreading of zoonotic diseases will also boost the industry growth.
Concerns regarding the use of parasiticides in food producing animals, lack of awareness in the developing countries and prohibitive costs relating to the development of new products should impede the industry growth over the forecast years.
Animal Parasiticides Market, By Product
Endoparasiticides accounted for the largest market share in 2016 and is estimated to witness significant growth over the forecast period, owing to the elevated use of endoparasiticides in development of new products. Easy to use and effective nature of pour-ons and spot-ons should drive the ectoparasiticides market with CAGR of around 4% during the forecast period, be indebted to the rising popularity and elevated usage of pour-on and spot-on formulations.
Endectocides dual purpose serving nature (being a endoparasiticide and ectoparasiticide) should spur the global market growth. Moreover, the mounting developments related to novel products should offer lucrative growth opportunities to industry players over the coming years.
Animal Parasiticides Market, By Animal Type
Farm animal parasiticides market will witness significant growth due to burgeoning demand for animal source protein, rising need to produce pathogen free animal for consumption. However, limitations concerning the use of parasiticides, especially endoparasiticides in food animals should prove to be a hurdle in the growth path.
Increased consumption of poultry meat worldwide and cattle farming for yielding by-products and meat should fuel the industry growth with nearly 4% CAGR during the forecast timeframe. Furthermore, the pet parasiticides market is poised to expand due to soaring pet adoption across the globe, growing awareness regarding usage of pet parasiticides will augment the business growth.
Animal Parasiticides Market, By Region
North America animal parasiticides market accounted for more than 25% of the regional revenue share, be indebted to large scale industrial animal farming and elevated number of pet population. Moreover, early adoption tendency for neoteric products results in rapid realization of sales in the United States.
Germany animal parasiticides market holds more than 19% share of the total European region, owing to the growth in number of farm animals, consequently their consumption and rising rate of pet adoption.
Asia Pacific market presents lucrative opportunity in expansion of Asia-Pacific industry size due to factors such as rising disposable incomes of pet owners, awareness about animal products and increasing penetration of animal health companies in India and China.
Competitive Market Share
Globally active top 10 animal parasiticides companies hold nearly 70% share of the total market. Competition on basis of product differentiation, pricing and geographical presence is seen amongst the top players. A sizeable proportion of their share come from developed regions. Focus on exploring promising developing markets is clearly visible, as many multinational companies are looking for greener avenue of business to gain competitive advantage.
Animal Parasiticides Industry Background
The animal parasiticides industry has been shaping up since more than 3 decades. It started operating as an organized sector from developed regions such as North America and Europe; however, it has proliferated rapidly in developing nations of Latin America and Asia. The multinational animal health companies have been dominant throughout the course of industry so far; however specialized companies have shaped up lately. Introduction of domestic companies in countries such as China is likely to take a bit from market share pie in coming years.
What Information does this report contain?
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Why Global Market Insights?Comprehensive Research
- All-inclusive coverage
- In-depth and granular data (ex: information for 8 to 15 countries, with clients open to add to this list, in each report)
- Penetrative insights & latest trends
- Offers holistic understanding of the market
- Unique methodology
- Iterative in nature to eliminate errors
- Detailed methodology, scope, assumptions and data sources available for reference
- Committed to making a positive difference for our clients
- Given the nature of this industry, we are committed to ensure that our clients get maximum return on their investment in our services
- Every purchase comes with an option to obtain additional information:
- up to 10% of the original cost
- 45-minute analyst tele-call to obtain further clarity on the market.
- Global Market Insights, Inc. strictly adheres to PCI-DSS security norms.
- Only PCI-DSS compliant payment methods used for highest level of client data security