Global Animal Parasiticides Markets Expected to Rise at a CAGR of 4.2% and Surpass $7,082.2 Million from 2019 to 2026 – Exclusive Report [110 Pages] by Research Dive

The global market for animal parasiticides is projected to observe notable growth over the forecast period, owing to the rising demand for pet animals across the globe. By product type, the ectoparasiticides sub-segment is estimated to lead the market by 2026. Regionally, the North America market is anticipated to grow at significant rate in the estimated timeframe.

New York, USA, May 26, 2021 (GLOBE NEWSWIRE) -- According to a newly published report by Research Dive, the global animal parasiticides market is estimated to generate a revenue of $7,082.2 million by 2026, and grow at significant CAGR of 4.2% over the forecast period (2019 to 2026). As per our analysts, the growing demand for pet animals across the globe is the significant factor predicted to fuel the growth of the global market by 2026. In addition, the rise in the occurrence of diseases and parasite infections among the pet animals, livestock, and other animals are other factors driving the market growth. Moreover, the increasing initiatives taken by various governments across the globe related to the animal’s health and safety. However, the high costs associated with R&D investments and parasiticides are estimated to hinder the market growth in projected timeframe.

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Ectoparasiticides Sub-segment to be Most Profitable

By product type, the ectoparasiticides sub-segment valued for $1,172.1 million in 2018 and is projected to register lucrative growth over the forecast period. The significant growth of this sub-segment is majorly owing to the growing need for treatment of infestations among the animals. Ectoparasiticide type market will witness a significant growth and is estimated to generate a revenue of $1,678.5 million, at a 4.6% CAGR over projected period. The rise in the demand of ectoparasiticides type to prevent or control parasite insects in animals is anticipated to boost the market growth in the coming years.

Rising Demand of Ectoparasiticide in Animal Parasiticide Market will Grow the Chemical Sector

Companion Animal Sub-segment to be Observe Strong Growth

By animal type, the companion animal sub-segment is estimated to generate a revenue of $2,323.0 million by 2026 and witness significant growth during the forecast period. This is owing to the growing requirements from pet owners and veterinary centers to prevent or treat animals from the zoonotic diseases. Additionally, rise in the animal healthcare expenditure and number of pet owners are expected to enhance the animal parasiticide market over forecast timeframe. The farm animals segment has registered the highest animal parasiticide market share of 68.0% in 2018, and is estimated to generate revenue of $4,759.3 million, growing at 4.0% CAGR over projected period.

The North America Region to Create Huge Growth Opportunities

By region, the North America market for animal parasiticides is projected to dominate the global industry in terms of share during the forecast period. This is mainly due to growing adoption of pet animals and the presence of sophisticated healthcare centers for animals in the region.

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Prominent Market Players

Some of the top players of the global animal parasiticides industry are-

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

These players are adopting numerous strategies to gain a competitive edge in the global industry. The report presents several aspects of these major players such as business & financial performance, latest developments, key strategic moves, SWOT analysis, and product portfolio.

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