Global Animal Parasiticides Market 2017-2021

Global animal parasiticides market forecast

Technavio’s market research report predicts that the global animal parasiticides market will grow at a CAGR of nearly 6% during the forecast period. One of the primary drivers of the market’s growth is the increasing demand for a protein-rich diet. Nutrient-based foods like animal-based meat and related products like meat, milk, egg, dairy products and others are growing in demand owing to the rise in disposable incomes among the middle class. Moreover, to get ideal results from the animal produce, there is a significant increase in the need for healthy, protein-rich, and uninfected products. This, in turn, increases the prospects of the animal care products market as animal owners want to use them effectively to enhance the overall productivity. Furthermore, with the rise in animal food products, the awareness about animal health is imperative, and the benefits of faster disease diagnosis and using precautionary medicines are likely to drive the demand for animal parasiticides over the next four years.

One of the latest trends that will gain traction in the global animal parasiticides market is the rise in R&D activities. The key market leaders are increasing their investments in the R&D activities and paving the way for developing innovative animal food and health products. For instance, Zoetis is concentrating on R&D to widen its product and vaccine ranges for new species of animals globally. Its facilities are close to manufacturing sites to lessen the transportation costs and rise the efficiency of the products. Moreover, these initiatives help the companies to increase their product lines and services which, in turn, widens the market size and assist in growth of the market.

Competitive analysis and key vendors