Animal Parasiticides Industry
Summary:
- The global animal parasiticides market size reached USD 9.9 Billion in 2023.
- The market is expected to reach USD 15.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.09% during 2024-2032.
- North America leads the market, accounting for the largest animal parasiticides market share.
- Ectoparasiticides accounts for the majority of the market share in the type segment due to their critical role in treating external parasites like fleas and ticks that commonly affect livestock and pets.
- Companion animals holds the largest share in the animal parasiticides industry.
- Veterinary clinics and hospitals remains a dominant segment in the market as they are primary providers of parasitic treatment services, offering specialized care that drives consistent demand for parasiticides.
- The increasing pet ownership is a primary driver of the animal parasiticides market.
- The animal parasiticides market growth and forecast highlight a significant rise due to emerging zoonotic diseases and rising awareness about animal welfare.
Industry Trends and Drivers:
- Increasing Pet Ownership:
The animal parasiticides market trends indicate that the rising global pet ownership, particularly in emerging markets, is significantly driving the demand for parasiticides. As more households welcome pets, especially in developing regions where middle-class income is growing, the focus on pet health care is contributing to the market growth. Additionally, pet owners are widely aware about the importance of preventive care to shield their pets from parasites such as fleas, ticks, and worms. This is further fueled by enhanced access to veterinary services and pet care products in these regions, allowing owners to provide better care for their pets. Besides, the increasing urbanization also contributes to higher pet adoption rates, with many families seeking companionship in cities where individual and family units are smaller. As pet ownership becomes more popular, the market for parasiticides continues to expand, with products aimed at ensuring the well-being and comfort of pets through routine prevention of parasitic infestations.
- Emergence of Zoonotic Diseases:
The increasing prevalence of zoonotic diseases that can be transmitted between animals and humans has amplified the need for effective parasite control measures. These diseases, such as Lyme disease and certain types of tick-borne illnesses, are closely linked to the parasites carried by pets and livestock. Additionally, with the health risks posed by such parasites, pet owners and livestock farmers are becoming more vigilant about maintaining preventive measures, which is escalating the animal parasiticides demand. Moreover, parasiticides play an essential role in breaking the transmission cycle of these diseases, significantly reducing the risk of human infection. Besides, governments and health organizations are also investing in public awareness campaigns that emphasize the dangers of zoonotic diseases and promote parasite control as a critical preventive measure.
- Growing Awareness about Animal Welfare:
There is a growing emphasis on animal welfare, which is directly impacting the demand for parasiticides. Additionally, with stricter animal welfare standards being adopted globally, pet owners and farmers alike are prioritizing their animals’ health and well-being. This shift in focus has resulted in the regular use of parasiticides as a preventive health measure. For pet owners, maintaining their pets’ health has become part of ensuring a high quality of life, and for farmers, healthy livestock is essential for productivity and profitability. Moreover, animal welfare organizations also advocate for the ethical treatment of animals, which includes keeping them free from pests and parasites, which is driving the animal parasiticides market size. This increasing awareness is leading to higher sales of parasiticides as individuals seek to maintain their animals in optimal health, further propelling growth in the parasiticide market.
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Animal Parasiticides Market Report Segmentation:
Breakup By Type:
- Ectoparasiticides
- Endoparasiticides
- Endectocides
Ectoparasiticides represent the largest segment due to their critical role in treating external parasites like fleas and ticks that commonly affect livestock and pets.
Breakup By Animal Type:
- Companion Animals
- Livestock Animals
Companion animals account for the largest market share as pet ownership continues to increase, leading to increased spending on veterinary care and parasitic treatments for pets.
Breakup By End User:
- Veterinary Clinics and Hospitals
- Animal Farms
- Home Care Settings
Veterinary clinics and hospitals dominate the market growth as they are primary providers of parasitic treatment services, offering specialized care that drives consistent demand for parasiticides.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Top Animal Parasiticides Market Leaders:
- Bimeda Group
- Boehringer Ingelheim GmbH
- Ceva Santé Animale
- Merck & Co. Inc.
- Norbrook Laboratories Limited
- PetIQ LLC
- Vetoquinol S.A.
- Virbac
- Zoetis Inc.
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