Parasiticides are now being developed in various formats, apart from the conventional ones developed for external use, which are rather cumbersome to administer. From oral tablets to sprays, animal parasiticides have been mapping a steady sales trail, with 'convenience to use' being integral to product innovation. Rising pet humanization and focus on the protection of livestock and companion animals from fungi and bacterial infections, on the back of increasing incidence of zoonotic diseases, creates a highly conducive environment for the growth of the animal parasiticides market. Taking these factors into account, Fact.MR, in its exhaustive report, portends that, the animal parasiticides market would record a CAGR tantamount to 5.5% during the forecast period (2020-2026).
The animal parasiticides market report highlights the following players:
- Bimeda Animal Health
- Boehringer Ingelheim GmbH
- Ceva Santé Animale
- The Chanelle Group
The animal parasiticides market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
North America Leads Market
Major factors like growth in health awareness and trending culture of high protein consumption like keto diet contribute in highlighting animal sources as major protein source. Demographic shift has been observed towards animal sources from conventional protein sources. Animal proteins consumptions increases the chances of transmission of infectious disease. This encourages a decreases the consumption of animal parasiticides, and give it’s a greater market penetration.
North America leads global animal parasiticides market. The increasing rate of pet culture. Fact.MR report states that ectoparasiticides was estimated to own 51% share of the global market due the convenience offered by the administration. Animal parasiticides exist in various forms and sprays are the latest entrants in market. Other popular forms are tablets, dips and spot-on.
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Stringent regulations against use of antibiotics have been created in dairy and food products. In spite of these regulations, the market is witnessing healthy growth. Factors like increased livestock farming and intervention from central authorities make animal healthy a major factor that drives the animal parasiticides market. This generates plethora of opportunities for the veterinary experts in the global market.