According to a market report by Lucintel, the future of the animal parasiticide market looks promising with opportunities in veterinary clinics & hospitals, animal farms, and home care setting. The global animal parasiticide market is expected to reach an estimated $15.5 billion by 2028 with a CAGR of 7% from 2023 to 2028. The major drivers for this market are growing concern for animal health from various diseases and pesticides, rising adoption rate of domestic animals, and increasing demand for animal feeds containing parasiticides among companies that deal with livestock items.
In this market, ectoparasiticide, endoparasiticide, and endectocide are the major segments by product type. Lucintel forecasts that ectoparasiticide will remain the largest product type segment over the forecast period due to increasing pet ownership and escalating demand for companion animals in the developed countries.
Within this market, veterinary clinics & hospitals are expected to remain the largest end use industry segment due to the growing application of animal parasiticide in hospital settings, increasing number of parasitic diseases, and rising animal health concerns.
North America will remain the largest region due to the growing adoption of companion animals, increasing demand for animal-derived food products and rising expenditure on animal health in the region.
Zoetis, Elanco Animal Health, Virbac, Merck, and Boehringer Ingelheim are the major suppliers in the global animal parasiticide market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global animal parasiticide market by product type, animal type, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Animal Parasiticide Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global animal parasiticide market by product type, animal type, end use industry, and region, as follows:
Animal Parasiticide Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Ectoparasiticide
Endoparasiticide
Endectocide
Animal Parasiticide Market by Animal Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Companion Animals
Livestock Animals
Animal Parasiticide Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
Veterinary Clinics & Hospitals
Animal Farms
Home Care Setting
Animal Parasiticide Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the animal parasiticide market by product type (ectoparasiticides, endoparasiticides, and endectocides), animal type (companion animals and livestock animals), end use industry (veterinary clinics & hospitals, animal farms, and home care settings), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?