Veterinary Parasiticides Industry Anticipated to Expand at 5.4% CAGR During the Forecast Period
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What Is The Predicted Market Size Trajectory For The Veterinary Parasiticides Market From 2025 To 2034?
The veterinary parasiticides market size has experienced significant expansion in recent years. It is anticipated to expand from $14.68 billion in 2024 to $15.53 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.8%. This historical growth can be linked to heightened animal health awareness, increased livestock production, a rise in companion animal ownership, and the impact of zoonotic diseases.
The veterinary parasiticides market is projected to experience substantial expansion in the coming years. This market is anticipated to reach a valuation of $19.16 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 5.4%. Factors contributing to this growth over the forecast period include considerations like global food security, new zoonotic threats, enhanced care for companion animals, and evolving environmental conditions. Key trends shaping the forecast period encompass issues related to zoonotic diseases, advancements in flea and tick control, considerations regarding parasiticide safety and environmental impact, and the development of novel delivery methods.
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Which Drivers Are Impacting The Veterinary Parasiticides Market?
Zoonotic pathogens, recognized as the primary global cause of foodborne illnesses, are increasingly impacting animals. These infectious conditions stem from bacteria, viruses, and parasites, notably Salmonella and Campylobacter, and can spread from animals to humans either directly or indirectly. Their transmission to humans via the food chain poses a significant risk, emphasizing the critical need for preventing these diseases in animals. For example, the European Food Safety Authority (EFSA), an Italy-based agency providing independent scientific advice on food risks for the European Union, reported in December 2022 that Campylobacteriosis remained the most frequently reported zoonotic disease in 2021, with 127,840 cases. Chicken and turkey meat were identified as its main sources. Salmonellosis was the second most common zoonosis reported, impacting 60,050 individuals. This urgent need to control these animal infections is a key factor boosting the market for veterinary parasiticides.
What Are The Primary Types Of Segments Analyzed In 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
What Trends Are Expected To Drive The Veterinary Parasiticides Market?
Chewable tablets are increasingly utilized to protect animals from various parasites, including ticks, worms, and fleas. Administering these treatments is straightforward. These chewable forms are offered as either beef-flavored tablets or soft chews. For example, IVERHART MAX chewable tablets safeguard dogs from the four most common worms: heartworms (an infection caused by an infected mosquito bite), roundworms, hookworms (which affect the intestines), and tapeworms (acquired from ingesting an infected flea). Such technological progress is a significant catalyst for the veterinary parasiticides industry.
Who Are The Prominent Global Companies Shaping 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
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Which Global Regions Are Influencing The Competitive Landscape Of The Veterinary Parasiticides Market?
North America was the largest region in the veterinary parasiticides market in 2024. 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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