Animal Parasiticides Market is Set to Expand Moderately at a CAGR of 5.9% During Forecast Period 2021-2031
250 Pages Animal Parasiticides Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
According to Fact MR’s recent market research, sales of Animal Parasiticides to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Animal Parasiticides market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Animal Parasiticides market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Animal Parasiticides
On the back of these factors, the global animal parasiticides market is set to expand moderately at a CAGR of 5.9% during the forecast period (2020-2026). Other generic drivers, such as rising demand for protection of livestock and increased research and development for eradicating parasitic diseases is expected to boost the animal parasiticides market.
The report offers actionable and valuable market insights of Animal Parasiticides. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Animal Parasiticides Market across various industries and regions
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Global animal parasiticides market segmentation
Fact.MR has studied the global animal parasiticides market with detailed segmentation on the basis of product, species and regions.
By Product :
- Oral Tablets
- Oral Suspension
- Feed Additives
By Species :
- Food-Producing Animals:
- Companion Animals:
- Other Livestock
- Food-Producing Animals:
By Regions :
- North America
- Asia Pacific (APAC)
- Latin America
- Middle East & Africa (MEA)
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Key Takeaways of Global Animal Parasiticides Market Study:
- Ectoparasiticides are anticipated to gain major traction in the animal parasiticides market. This is attributed to a rising insect parasite population such as mites, ticks, lice, flees and flies. Awareness conferences by key players and subsequent drug developments are also expected to leverage the segment. Projected market share for Ectoparasiticides is around half of the total market.
- Endoparasiticides are set to gain similar market presence in the forecast period. Rising worm control measures in companion animals by leading market players is expected to drive market growth.
- Companion Animals shall find maximum usage for parasiticides, due to burgeoning ownership of pets such as dogs and cats. Projected CAGR for this segment is pegged at 6.1% during the forecast period.
- North America is set to dominate the global animal parasiticides market, attributable to expanding investment in the companion animal health space. The region is expected to hold three-tenth of the total market share, expanding at a CAGR of 5.6%.
- East-Asia is another promising market for animal parasiticides. Rising pet population, increased animal healthcare expenditure and demand for good quality meat and other animal products from livestock shall act as market stimulants. Expected market share for the region is over one-fifth.
- Key manufacturers foresee a limited to no impact on the supply chain of animal parasiticides due to COVID-19. Studies are inconclusive about the certainty of the infection spreading to animals. Nevertheless, companies have taken appropriate measures to avoid a possible crunch on the supply of animal parasiticides.
- Zoetis, Inc., a prominent animal parasiticides market player, has strengthened its supply chain by producing 4-6 months of inventory of key products. The company is also ensuring successful movement of goods throughout their network. Elanco Animal Health, another market player, reports a fully operational manufacturing network. Basic precautionary measures among non-manufacturing employees such as social distancing are being implemented.
“The global animal parasiticides market shows positive growth trajectory in the future. Intensive research and development in parasitic drugs by market players in the wake of rising incidences of animal infections is expected to leverage future market share,” concludes a Fact.MR analyst.
Product Developments to Remain Imperative in Global Animal Parasiticides Market Landscape
The global animal parasiticides market is dominated by five market players. These are Merck Animal Health, Zoetis, Inc., Ceva Sante Animale, Elanco Animal Health and Boehringer Ingelheim GmbH. Investment in research and development of quality medicines and vaccines is the key strategy of these market players to consolidate their footprint within the market. Zoetis Inc., for instance, received an FDA approval for a new combination parasite preventative drug for dogs christened Simparica TrioTM in February 2020.
This drug is the first all-in-one protection against heartworm diseases, ticks, fleas and roundworms in a single monthly chewable. Likewise, Merck Animal Health received an animal farm award in January 2020 for its PORCILIS® Lawsonia vaccine for piglets which protects them from being infected by lawsonia intracellularis, a bacterium strain causing ileitis, a gastrointestinal disease.
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Report Benefits & Key Questions Answered
- Animal Parasiticides Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Animal Parasiticides Historical volume analysis: The report provides a comparison of Animal Parasiticides’s historical sales and projected sales performance for 2021-2031.
- Animal Parasiticides Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Animal Parasiticides market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Animal Parasiticides Consumption by demographics: The report investigates consumer behavior affecting Animal Parasiticides demand outlook for the assessment period. Effect of their keenness for digital trends on Animal Parasiticides market is carefully analyzed
- Post COVID consumer spending on Animal Parasiticides: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Animal Parasiticides market growth.
More Valuable Insights on Animal Parasiticides Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Animal Parasiticides, Sales and Demand of Animal Parasiticides, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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