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

The global animal parasiticides market is largely split with the presence of small and large vendors. To keep up with the competitive market, the vendors merge or acquire other vendors and this extremely flourishing market offers a platform for the new players to enter. Moreover, the vendors are developing tactics to help them increase the market share and offers the leverage to stay ahead of the competitors.

Key players in the market are:

• Bayer HealthCare
• Elanco
• Merck Animal Health
• Merial
• Zoetis

Other prominent vendors include Animal Medics, Biogénesis Bagó, Bio-Vet, Boehringer Ingelheim, Ceva Santé Animale, Dechra Pharmaceuticals, ECO Animal Health, Huvepharma, Indian Immunologicals, Lillidale Animal Health, Mobedco-Vet (The Arab Pesticides & Veterinary Drugs), Neogen, Norbrook, Orion, Phibro Animal Health, Vétoquinol, Virbac, and Vitafor.

Segmentation by product category and analysis of the animal parasiticides market

• Endoparasiticides
• Ectoparasiticides
• Endectocides

According to the animal parasiticides industry insights, the ectoparasiticides segment led the market and is expected to grow higher during the forecast period. Ectoparasiticides provide a wide range of uses like controlling parasites like flies, ticks, mites, and fleas. Moreover, ectoparasiticides that contain active ingredients are used in agriculture, which, will also drive the growth of the segment over the next four years.  

Geographical segmentation and analysis of the animal parasiticides market

• Americas
• APAC
• EMEA

In terms of geography, the Americas led the market in the global animal parasiticides market during 2016. Factors like increasing focus on animal research and reduction in distribution costs, pet humanization, and an increase in animal expenditure for vaccinations propels the growth of the market in the region. 

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global animal parasiticides market?
• What are the key market trends impacting the global animal parasiticides market?
• What are the challenges to market growth?
• Who are the key vendors in the global animal parasiticides market?
• What are the market opportunities and threats faced by the vendors in the global animal parasiticides market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global animal parasiticides market?

Technavio also offers customization on reports based on specific client requirement.

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• Global Animal Antibacterial and Antibiotics Market 2016-2020