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What Is the Forecast for the Animal Parasiticides Market Growth in 2025?

Over the past few years, there has been robust growth in the size of the animal parasiticides market. The market size is set to increase from $9.39 billion in 2024 to $10.15 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%. Factors contributing to the growth during the historic period include disease outbreaks, concerns over livestock productivity, an increase in pet ownership, regulatory measures from the government, and progress in the field of veterinary medicine.

What Is the Forecast for the Animal Parasiticides Market Size Through 2029?

The size of the animal parasiticides market is anticipated to witness robust expansion in the upcoming years, reaching a valuation of $13.69 billion in 2029 with a compound annual growth rate (CAGR) of 7.8%. The projected growth in the market can be credited to factors such as the rise in zoonotic diseases, an increase in the number of companion animals, the growth of livestock farming, advancements in parasiticide formulations, and an escalated consciousness about animal wellbeing. Key trends expected during the forecast period include the creation of long-lasting formulations, progress in biologics and vaccines, the application of nanotechnology in medicine delivery, precision dosing techniques, and digital tracking and monitoring systems.

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What are the Key Market Players in Animal Parasiticides Market and How They’re Evolving?

Major companies operating in the animal parasiticides market are Merck & Co. Inc., Bayer AG, Sanofi SA, Boehringer Ingelheim GmbH, Zoetis Inc., Elanco Animal Health Inc., Ceva Sante Animale S.A., Virbac SA, Dechra Pharmaceuticals plc, Phibro Animal Health Corporation, Vetoquinol SA, Norbrook Laboratories Limited, Neogen Corporation, Indian Immunologicals Ltd., Krka dd Novo Mesto, Bimeda Inc., The Chanelle Group, ECO Animal Health Group plc, Zydus Animal Health and Investments Ltd., Kyoritsu Seiyaku Corporation

What Are the Primary Growth Drivers in the Animal Parasiticides Market?

The growth of the animal parasiticides market is anticipated to be driven by the rising incidence of zoonotic diseases. These are infectious diseases, transferable between animals and humans, triggered by bacteria, viruses, parasites or fungi. Numerous factors, such as climate change, antibiotic resistance, and inadequate sanitation and hygiene, have led to the surging number of these diseases. Animal parasiticides play a crucial role in preventing such diseases by managing parasites that serve as channels or stores for disease transmission between animals and humans. For example, as reported by the European Centre for Disease Prevention and Control, a UK governmental organization, the confirmed brucellosis cases witnessed a rise to 199 in 2022 from 165 in 2021, as of April 2024. Consequently, the escalating prevalence of zoonotic diseases is spurring the growth of the animal parasiticides market.

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What Are the Leading Segments in the Global Animal Parasiticides Industry?

The animal parasiticides market covered in this report is segmented –

1) By Type: Endoparasticides, Ectoparasiticides, Endectocides

2) By Livestock: Swine, Poultry, Ovine, Bovine, Equine, Canine, Feline

3) By End User: Veterinary Clinics and Hospitals, Animal Farms, Home Care Settings

Subsegments:

1) By Endoparasiticides: Anthelmintics, Antiprotozoals, Anticestodals

2) By Ectoparasiticides: Insecticides, Acaricides, Larvicides

3) By Endectocides: Macrocyclic Lactones, Imidazothiazoles, Spinosyns

What Are the Key Market Trends in the Animal Parasiticides Industry?

Renowned businesses in the animal parasiticides market are endeavoring to create inventive solutions, such as combination therapy, to improve effectiveness, expand the scope of parasite control, minimize the possibility of resistance development, and boost convenience for pet owners and individuals managing livestock. Combination therapy involves the usage of two or more active ingredients with diverse mechanisms of action to either prevent or treat a disease, thereby improving efficiency and decreasing resistance risk. For instance, Zoetis Inc, an American animal healthcare company, was granted FDA approval for a new label indication for Simparica Trio in January 2022, acknowledging its power in preventing Borrelia burgdorferi infections by aiming for and eradicating Ixodes scapularis vector ticks. This innovative chewable tablet is an all-in-one solution that provides broad-spectrum protection by effectively eliminating Ixodes scapularis ticks, the primary transmitters of Lyme disease, before they have a chance to spread the infection. Its three-part formula provides comprehensive control of parasites, dealing with fleas, ticks, heartworms, roundworms, and hookworms in a simple once-a-month dosage.

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What Is the Regional Outlook for the Animal Parasiticides Market?

North America was the largest region in the animal parasiticides market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the animal parasiticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This Report Delivers Insight On:

1. How big is the animal parasiticides market, and how is it changing globally?

2. Who are the major companies in the animal parasiticides market, and how are they performing?

3. What are the key opportunities and risks in the animal parasiticides market right now?

4. Which products or customer segments are growing the most in the animal parasiticides market?

5. What factors are helping or slowing down the growth of the animal parasiticides market?

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