Global Animal Parasiticides Market - Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

Animal parasiticides or antiparasitics are a class of drugs that are used to eliminate parasites that infect livestock, pets, and other animals, which subsequently improves animal health. Most parasiticides finished products consist of one or more active ingredients that help carry out a specific action against particular parasites. Parasiticides also comprise inert ingredients such as water and alcohol that are called as solvents (stabilizers, preservatives, emulgents, and others). Animal parasiticides market size is expected to witness significant growth, owing to increasing pet adoption across the globe.

Global Animal Parasiticides Market Taxonomy

The global animal parasiticides market outlook can be classified on the basis of type of parasiticides, animal type, end user, and region. There are five types of parasiticides such as ectoparasiticide, endoparasiticide, endectocide, anthelmintic, and anti-protozoans. Parasiticides used for killing external parasites in animals such as fleas, ticks, lice, fleas, and mites are termed as ectoparasiticides. Most ectoparasiticides are called pesticides, as these chemicals have application in agriculture. Moreover, endoparasiticides are utilized to kill internal parasite such as flukes, roundworms, and tapeworms in animals. Most endoparasiticides are termed as veterinary medicines, as the active ingredients of the products are mainly used in animals. Endectocides or macrocyclic lactones are effective in both internal and external parasites. They are either natural products or chemically-modified derivatives that show strong parasiticidal efficacy in animals. On the basis of their chemical structure, endectocides are segmented into avermectins and milbemycins. Parasiticides are available in various formulations such as liquids, tablets, injectables, sprays, spot-on, and pour-on.

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On the basis of animal type, the global animal parasiticides market is segmented into food producing animals (cattle, pigs, poultry, sheep, and goats) and companion animals (dogs, cats, and horses). On the basis of end user, the global animal parasiticides market is segmented into farms, R&D facilities, and veterinary clinics. Increasing pet adoption in Asia Pacific is a major driving factor that is expected to fuel demand for animal parasiticides in veterinary clinics.

Growing Livestock Population and Increasing Adoption of Pet Animals in Asia Pacific is expected to Boost Growth of the Animal Parasiticides Market Size over the Forecast Period

On the basis of region, the global animal parasiticides market outlook can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East. Key factors driving growth in adoption of animal parasiticides in Europe and North America include increasing pet adoption, high number of R&D activities, increasing expenditure on animal health, and rising demand for animal-derived food products. However, Asia Pacific (India, China, Australia, Japan, and Malaysia) is expected to be the most lucrative market for animal parasiticides over the forecast period, owing to a number of driving factors such as increasing number of companion animals, growing livestock population, increasing expenditure on animal health, and rising awareness about animal health.

Animal Parasiticides Market Trends

Key driving factors for the growth of the global animal parasiticides market include increasing awareness about animal zoonotic disease, rising number of animal population especially in emerging economies of the world, increasing demand for animal-based food and animal proteins, and increasing animal research activities. Furthermore, increasing expenditure on animal health and government initiatives to protect animal health is expected to fuel demand for animal parasiticides. However, high cost of R&D activities, new species of parasites, stringent regulatory policies for approval of animal parasiticides, and high cost of animal parasiticide products are expected to hinder growth of the animal parasiticides market over the forecast period.

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Market Consolidation

There has been various consolidation activities in the global animal health industry. For instance, in 2016, Boehringer Ingelheim acquired Sanofi's animal health business, Novartis sold its animal health business to Eli Lilly, and Merck Animal Health (subsidiary of Merck & Co.) acquired Vallee, a leading animal health product manufacturer based in Brazil.

Some of the major market players operating in the global animal parasiticides market include Boehringer Ingelheim, Bayer Ag, Eli Lilly And Company, Ceva Sante Animale, Novartis Ag, Merck & Co., Inc., Zoetis, Inc., Virbac Sa, and Merial.

Key Developments

Major players in the market are focused on product development and product approvals from regulatory bodies to enhance their market share. For instance, in August 2018, the U.S. FDA approved NexGard (afoxolaner), a chewable flea and tick product developed by Merial – for the prevention of infections that cause Lyme disease in dogs.

Moreover, in August 2018, Merial launched Centragard (eprinomectin and praziquantel transdermal solution), a monthly heartworm disease preventive product for cats that can be applied topically.

Market players are also focused on adopting acquisition strategies to expand their product portfolio. For instance, in July 2019, Ceva Sante Animlae acquired IDT Veterinary Business Assets such as IDT swine vaccines against Salmonella.

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