Animal Parasiticides Market is Projected to Grow at A CAGR of 4.5% During, 2020-2026

ABOUT THIS REPORT

OVERVIEW

Animal Parasiticides Market was valued at US$5,563.3 million by 2019; growing at a CAGR of 4.5% till 2026.

Animal parasiticides are chemical materials that help to eliminate or kill the animal health-affecting parasites. Animal parasiticides target the infectious parasites by destroying them or preventing their growth. There are three types of parasiticides, including endoparasiticides, ectoparasiticides, and endectocides. Endoparasiticides help to control internal parasites such as roundworms, tapeworms, and fluke. Ectoparasiticides control external parasites such as fleas, ticks, mites, lice, and fleas. Endectocides helps to control nematodes and arthropods affecting animals.

Rising incidences of zoonotic diseases and increasing regulatory approvals for animal parasiticides are key driving factors of the market. For instance, Zoetis has received the U.S. Food and Drug Administration (FDA) approval for Simparica Trio (sarolaner, moxidectin, and pyrantel chewable tablets). Simparica Trio once-monthly chewable tablet delivers all-in-one protection from heartworm disease, ticks, and fleas, roundworms, and hookworms. Simparica Trio is the next generation parasiticide products and solutions for veterinarians, enabling them to provide prevention and treatment options for pets.

Further, Elanco Animal Health, a division of Eli Lilly and Company, has received the U.S. Food and Drug Administration (FDA) Approval for Credelio (lotilaner). This new tick and flea option for dogs contains the patented active ingredient lotilaner. Lotilaner is a member of the isoxazoline, a novel class of parasiticides. Credelio is a monthly oral tick and flea treatment for dogs.

Endoparasiticides, Ectoparasiticides, and Endectocides is the type segment of the market scope. By application, the market is divided into Dogs, Cats, Cattle, Pigs, Poultry, Horse, and Others. The report covers the value of the global market by type and application.

The market value of ectoparasiticides was USD XX million in 2019, and it is expected to reach USD XX million by 2026, growing at a CAGR of XX during 2020-2026. Ectoparasiticides was dominating the global animal parasiticides market in 2019, owing to the increasing regulatory approval of ectoparasiticides for the treatment of ectoparasitic infestations.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global animal parasiticides value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America animal parasiticides market was USD XX million in 2019, and it is predicted to reach USD XX million by 2026, growing at a CAGR of XX during the forecast period. North America was dominating the global animal parasiticides market in 2019, due to the increasing demand for the antiparasitic product, rising investments, government regulations for preventing the spread of animal disease, and partnership between companies to develop and market advance innovative animal parasiticides.

Major players operating in the animal parasiticides industry include Bayer AG, Boehringer Ingelheim, Elanco, Merck & Co., Inc., Huvepharma, Zoetis, Inc., Ceva Sante Animale, Virbac, Perrigo Company PLC, and Vetoquinol S.A.

The partnership between companies to develop and market animal parasiticides, regulatory approval for animal parasiticides, commercialization of new innovative products, and strategic agreement to acquire parasiticides products and extend the product line of the company are some of the strategies adopted by the major companies.