The global veterinary parasiticides market was valued at US$ xx million in the year 2018. This market is estimated to be valued at US$ xx million in the year 2019, and is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020-2025). Veterinary parasiticides are used to destroy pesticides, insects ad miroorganisms; and to improve animal health. This may support the veterinary parasiticides market growth. Ectoparasiticides a type of parasiticides are used for treating insect infestation in animals. Additionally, the use of oral chewable tablets for controlling ticks and fleas in animals are expected to increase the demand for veterinary parasiticides during the forecast period.
Table 1. Global Veterinary Parasiticides Market Synopsis
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Parameters |
Description |
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Market Value (US$ Mn) for the Period |
2018-2025 |
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Base Year |
2019 |
|
Forecast Period |
2020-2025 |
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Market Segmentation (By Product) |
Endoparasiticides (Oral liquid, Oral solid, Injectable, Feed additives, and Others) Ectoparasiticides (Tablets, Sprays, Pour-on and Spot-on Collars, Ear Tags and Others) |
|
Market Segmentation (By Animal Type) |
Dogs, Cats, Cattle, Pigs, Sheep and Goats, Poultry |
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Market Segmentation (By Distribution Channel) |
Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores |
|
Regions Covered |
North America, Latin America, Europe, Asia-Pacific, Middle East and Africa |
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Key Players Coverage |
Merck KGaA, Bayer AG, Boehringer Ingelheim, El Lilly and Company, Sanofi, Zoetis, Inc., Ceva Sante Animale, Virbac, Perrigo Company PLC, and Vetoquinol S.A., among others |
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Key Insights |
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Market Dynamics
Veterinary parasiticides play an important role for various disease prevention. Additionally, the rising concerns for zoonotic diseases, and global regulations for the prevention of infectious diseases has increased. For instance, in March 2020, Kerala, India the increase of zoonotic disease from cattle amidst the introductory phase of coronavirus outbreak in the state raised concerns among people. Moreover, the rising demand for the adoption of companion animals, and increase in investments for healthcare infrastructural developments to take care of the animals are expected to increase the demand for veterinary parasiticides. However, stringent regulation regarding approval of parasiticides products may restrain the market growth.
Figure 1. PORTER’S Analysis
Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.
North America is expected to be the largest market owing to increased expenditure in healthcare. Europe is expected to be the second largest market for the veterinary parasiticides market during the forecast period. Growing research activities and well established healthcare sector is expected to boost the demand for veterinary parasiticides in this region. Further, Asia-Pacific veterinary parasiticides market is expected to grow at the highest CAGR during the forecast period owing to the increasing population coupled with rising demand for animal derived food products especially in India & China.
Figure 2. Regional Analysis
Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.
Competitve Landscape
Key players in global veterinary parasiticides market include Merck KGaA, Bayer AG, Boehringer Ingelheim, Eli Lilly and Company, Sanofi, Zoetis, Inc., Ceva Sante Animale, Virbac, Perrigo Company PLC, and Vetoquinol S.A., among others. Key players in this market are focusing on innovation & launch of new products thereby aiming to expand their global presence specially in the developed nations. For instance, in August 2019, Elanco acquired Bayers’ animal healthcare business, making Elanco, the second largest player in veterinary pharmaceutical market.
Figure 3. Market Share of Key Players, 2019
Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.
By Product Type
- Ectoparasiticides
- Tablets
- Sprays
- Pour-on and Spot-onCollars
- Ear Tags
- Others
- Endoparasiticides
- Oral liquid
- Oral solid
- Injectable
- Feed additives
- Others
- Endectocides
By Animal Type
- Dogs
- Cats
- Cattle
- Pigs
- Sheep and Goats
- Poultry
- Others
By Distribution Channel
- Veterinary Hospitals
- Veterinary Clinics
- Pharmacies and drug stores
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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Note: This report provides in-depth analysis of the global veterinary parasiticides market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.
- What are the trends adopted by key players in the global veterinary parasiticides market?
- Who are the top players contributing the growth of the global veterinary parasiticides market, and what are the new strategies adopted by them to retain a market share in the industry?
- What is the competitive strength of the key players in the veterinary parasiticides market?
- What are the major outcomes derived from the Porter’s five forces?
- What key factors are expected to increase the demand for veterinary parasiticides market during the forecast period 2020-2025?
- What are the major challenges inhibiting the growth of the global veterinary parasiticides market?
- What is the total market value (US$ Mn) generated in global veterinary parasiticides market by product type in 2019 and what are the forecasts by 2025?
- Which distribution channel is expected to dominate the veterinary parasiticides market in the coming years?
- Which animal type is expected to foster the veterinary parasiticides market growth?
- What was the total revenue generated by the global veterinary parasiticides market across different regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
- What new products are going to be approved or launched in the coming years which may have huge impact on the market?
- What insights are derived through the analysis of key players on following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?