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What key factors are powering the surge in the veterinary parasiticides market right now?

The market size for veterinary parasiticides has seen substantial growth in the recent past. The market, which is expected to escalate from $14.93 billion in 2024 to $15.85 billion in 2025, predicts a compound annual growth rate (CAGR) of 6.1%. This significant progress during the historical phase is linked with factors such as enhanced awareness about animal health, increased livestock production, surging rates of pet ownership, and the occurrence of zoonotic diseases.

How fast Is the veterinary parasiticides market expected to grow, and what’s its future value?

In the forthcoming years, the market size of veterinary parasiticides is predicted to undergo substantial growth and is projected to reach a value of $20.57 billion in 2029, with a compound annual growth rate (CAGR) of 6.7%. Factors contributing to this growth over the forecast period include global food security, the rise of zoonotic threats, the need for companion animal care, and environmental changes. Key trends expected during the forecast period are concerns over zoonotic disease, advancements in flea and tick control strategies, emphasis on parasiticide safety and environmental factors, and innovative drug delivery methods.

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What are the leading drivers of growth in the veterinary parasiticides market?

There is a growing impact of zoonotic pathogens on animals, resulting in an uptick in foodborne diseases globally. Zoonotic diseases, transmitted either directly or indirectly between animals and humans, are infections caused by various pathogens such as Salmonella and Campylobacter. The transmission of these diseases via the food chain to humans is a significant hazard, underlining the urgent requirement for disease prevention in animals. As an illustration, the European Food Safety Authority (EFSA), based in Italy and responsible for providing independent scientific advice on food-related risks for the European Union, reported in December 2022 that the year 2021 saw Campylobacteriosis as the most prevalent zoonotic disease with 127,840 instances reported. Chicken and turkey meat were identified as the main sources of this disease. Salmonellosis ranked as the second most reported zoonosis, affecting 60,050 people. The urgent need to control these infections has led to a demand surge in the veterinary parasiticides market.

What are the key segments defining the veterinary parasiticides market?

The veterinary parasiticides market covered in this report is segmented –

1) By Type: Endoparasiticides, Ectoparasiticides, Endectocides

2) By Product: Oral Liquids, Tablets, Injectables, Sprays, Other Products

3) By Application: Farm Animals, Companion Animals

4) By End Users: R&D Facilities, Farms, Veterinary Clinics

Subsegments:

1) By Endoparasiticides: Anthelmintics (Dewormers), Antiprotozoals, Anticestodals, Antitrematodals

2) By Ectoparasiticides: Insecticides, Acaricides, Repellents

3) By Endectocides: Ivermectin-based Products

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Who are the key players steering the development of the veterinary parasiticides market?

Major companies operating in the veterinary parasiticides market include Bayer AG, Zoetis Inc., Boehringer Ingelheim, Merck & Co. Inc., Eli Lilly and Company, virology and bacteriology, Ceva Animal Health, Merial Inc., Perrigo Company, Vetoquinol India Animal Health Pvt Ltd., Intas Pharmaceuticals Ltd., Perrigo Company, Eli Lilly and Company, Dechra Pharmaceuticals plc, Lillidale Ltd., Phibro Animal Health Corporation, Bovian Health Care Pvt. Ltd., Sanofi SA, Novartis AG, Oceanic Pharmachem, IDEXX Laboratories Inc., Covetrus Inc., Norbrook Laboratories Limited, Bimeda Holdings PLC, PetIQ Inc., Heska Corporation, Neogen Corporation, Kyoritsu Seiyaku Corporation, Nexvet Biopharma plc, Kepro Technologies Private Limited, ECO Animal Health Group plc, Bioniche Animal Health Canada Inc., Bioiberica S.A., Laboratorios Hipra S.A., Norbrook Laboratories Limited

What emerging trends are influencing the growth of the veterinary parasiticides market?

The utilization of chewable tablets to safeguard animals from infestations like ticks, worms, and fleas is on the rise. The ease of administering these treatment options makes them more appealing. The tablets come with a beef flavoring, either as a tablet or soft chew, enhancing pets’ acceptance. For example, IVERHART MAX chewable tablets offer dogs protection against the four prevalent worms: heartworms (contracted from mosquito bites), roundworms, hookworms (which impacts the intestines), and tapeworms (obtained from swallowing an infected flea). Such technological innovations considerably propel the veterinary parasiticides market forward.

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Which regions are most influential in expanding the veterinary parasiticides market?

North America was the largest region in the veterinary parasiticides market in 2023. Asia-Pacific was the second-largest region in the veterinary parasiticides market. The regions covered in the veterinary parasiticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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