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“The animal parasiticides market is projected to grow at a CAGR of 7.2% between 2020 and 2025.”
The animal parasiticides market is expected to reach USD 13.7 billion by 2025 from USD 9.7 billion in 2020, at a CAGR of 7.2% from 2020 to 2025. Increasing pet expenditure and the growing incidences of parasitic infections are some major factors driving the market. However, accounting for the diversity of parasitic species while developing effective medications and parasiticides is one of the major challenges for players operating in this market.
“Ectoparasiticides segment to witness the highest growth rate during the forecast period.”
In the market, by type, ectoparasiticides are expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the growing number of innovative products for animals in the ectoparasiticides category.
“Companion animals segment holds the largest share of the market.”
The increasing population of companion animals and growing pet adoption are the major factors supporting market growth.
“Latin America to witness the highest growth rate during the forecast period.”
The Latin American region is expected to witness the highest CAGR during the forecast period, owing to the rapid growth in livestock animal population and the increasing consumption of meat and milk in this region.
Breakdown of primary participants:
- By Company Type – Tier 1: 40%, Tier 2–35%, and Tier 3–25%
- By Designation – C Level: 25%, Director Level: 55%, and Others: 20%
- By Region – North America: 40%, Europe: 25%, Asia Pacific: 20%, Latin America: 10%, and the Middle East & Africa: 5%
The report analyzes animal parasiticides and their adoption patterns in the market. It aims at estimating the market size and future growth potential of the global animal parasiticides market for different segments such as type, animal, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, service offerings, recent developments, and key market strategies.
Reasons To Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater share. Firms purchasing the report could use any one or combination of the below-mentioned strategies for strengthening their market positions.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the service portfolios offered by the top players in the animal parasiticides market
- Product Launch/Innovation: Detailed insights on new launches in the animal parasiticides market
- Market Development: Comprehensive information about lucrative emerging markets, by type, animal, end user, and region
- Market Diversification: Exhaustive information about new services, growing geographies, recent developments in the animal parasiticides market
- Competitive Assessment: In-depth assessment of growth strategies, services, and manufacturing capabilities of leading players in the animal parasiticides market