Animal Parasiticides Market by Product, Animal, and End-user - Global Forecast to 2025 - ResearchAndMarkets.com

The "Animal Parasiticides Market by Product (Ectoparasiticides, Endectocide (Ear Tags, Tablets, Dips, Injectables, Spot-on, Collars) Animal (Dogs, Cats, Cattle, Sheep, Goats, Horses) End-user (Veterinary Hospitals) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The animal parasiticides market is expected to reach USD 13.7 billion by 2025 from USD 9.7 billion in 2020, at a CAGR of 7.2% from 2020 to 2025.

Increasing pet expenditure and the growing incidences of parasitic infections are some major factors driving the market. However, accounting for the diversity of parasitic species while developing effective medications and parasiticides is one of the major challenges for players operating in this market.

Ectoparasiticides segment to witness the highest growth rate during the forecast period.

In the market, by type, ectoparasiticides are expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the growing number of innovative products for animals in the ectoparasiticides category.

Companion animals segment holds the largest share of the market.

The increasing population of companion animals and growing pet adoption are the major factors supporting market growth.

Latin America to witness the highest growth rate during the forecast period.

The Latin American region is expected to witness the highest CAGR during the forecast period, owing to the rapid growth in livestock animal population and the increasing consumption of meat and milk in this region.

Market Dynamics

Drivers

• Rising Demand for Animal-Derived Food Products
• Increasing Investments from Private Players
• Growing Concerns of Zoonotic Diseases
• Regulations for Preventing the Spread of Animal Diseases
• Growing Companion Animal Ownership Rate
• Rising Animal Health Expenditure

Restraints

• Shift Toward Vegetarian Diets
• Restrictions on the Use of Parasiticides in Food-Producing Animals

Opportunities

• Opportunities in Emerging Markets

Challenges

• Growing Resistance to Parasiticides
• Diversity of Parasite Species

Companies Profiled

• Boehringer Ingelheim
• Bayer AG
• Elanco Animal Health
• Merck
• Zoetis
• Virbac
• Ceva Sant Animale
• Vetoquinol S.A.
• Petiq
• Chanelle Pharma
• Eco Animal Health
• Abbey Animal Health
• Zydus Animal Health
• Norbrook Holdings
• Smartvet Holdings
• Bimeda
• Ucbvet
• Bovicure Pharma
• Hatvet Pharma
• Ashish Life Science (ALS)
• Lutim Pharma

For more information about this report visit https://www.researchandmarkets.com/r/revqcs

View source version on businesswire.com: https://www.businesswire.com/news/home/20200713005334/en/