Global Animal Parasiticides Market Anticipated to Enhance with a CAGR of 4.2% in 2019-2026 Timeframe – Exclusive Report [110 Pages] by Research Dive

The animal parasiticides market is predicted to grow in forecast period. The ectoparasiticides sub-segment will be the most lucrative. The companion animal sub-segment will be the most profitable and Asia-Pacific region will dominate the market.

New York, USA, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Research Dive has published a new report on animal parasiticides market and according to the report; this market is expected to generate revenue of $7,082.2 million by 2026, with a considerable CAGR of 4.2% in the forecast timeframe. The animal parasiticides market size in the year 2028 was estimated to be at $5,096.0 million.

The inclusive report mentions several aspects such as the market dynamics, current scene of the market, growth aspects, restraints, challenges, and opportunities in the analyzed forecast period. The report also includes the market CAGR and revenue estimates; thus making it simple for the new participants to gain adequate knowledge of the animal parasiticides market.

Major Factors Affecting the Market Growth

Rising pet adoption and demand for animal protein worldwide is driving the market growth. Furthermore, prevalence of parasitic diseases in pets and livestock is predicted to propel the market in the estimated timeframe. Apart from this, importance of maintaining the health of pet animals and livestock is also accounted to enhance the market. All these factors are responsible of the growth of the animal parasiticides market in the forecast period.

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Some factors that are pulling the market down are high costs and investments involved in animal parasiticides. Moreover, lack of funding for research and development activities will further hinder the market growth. Nevertheless, initiatives taken up government authorities to promote animal health will open up opportunities in the market.

The report divides the market into segments based on product types, animal type, and regional analysis.

Ectoparasiticides Sub-Segment to be the Most Lucrative

This particular sub-segment is predicted to garner revenue of $1,678.5 million by 2027, from a significant market size of $1,172.1 million in 2028. The need to treat infestation in the animals is anticipated to fuel the market growth in the forecast period.

Companion Animal Sub-Segment to be the Most Profitable

The companion animal sub-type is anticipated to harbor significant revenue of $2,323.0 million by 2026. The positive growth in the market in the forecast period is due to the rising adoption of pet animals worldwide. Moreover, expenditures related to animal health and providing adequate treatment against several zoonotic diseases is projected to enhance the market in the forecast period. All these features are driving the market.

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Regional Analysis

The Asia-Pacific region is predicted to generate opportunities in the estimated forecast period. This region is anticipated to garner market size of $1,614.8 million by 2026, from notable revenue of $1,121.1 million in 2028. The market is escalating due to the rising demand for good quality of meat and presence of many animal farms across the globe. These aspects are pushing the market forward in the estimated forecast period.

Key Players and Business Strategies

The major market participants of the animal parasiticides market are -

  1. Vetoquinol
  2. Zoetis Inc.
  3. Sanofi
  4. Elanco
  5. Eli Lilly
  6. Ceva Santé Animale
  7. Boehringer Ingelheim animal Health
  8. Perrigo Company Plc
  9. Merck Co.
  10. Bayer AG.

These top key market players are opting for novel strategies and plans such as combined ventures, new product developments, significant mergers and acquisitions, and geographical extensions, in order to promote their company status in the market. Quick Download Top Companies Development Strategies Summary Report

Apart from this, the market report also summarizes various features of all the prominent players functioning in the market such as financial performance, developments, recent strategic moves, product portfolio, and SWOT scrutiny.

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