The Global Animal Parasiticides Market is expected to reach USD 12.17 billion by 2025, from USD 8.71 billion in 2018 growing at a CAGR of 4.9% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Some of the major players operating in the global animal parasiticides market Eli Lilly and company, Merck and Co., Inc., Bayer AG, Virbac, Vetoquinol S.A ., Oceanic Pharmachem, Zoetis, Boehringer Ingelheim International GmbH, Ceva, Bovian Health Care, Intas Pharmaceuticals Ltd., among others.
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Market Definition: Global Animal Parasiticides Market
The animal parasiticide is also called as veterinary parasiticide because the products of animal parasiticides are used to kill parasiticide which infests on livestock, pets, and other animals. All the different products of parasiticides have their own properties to kill parasites on animals. Antiparasitics, another name of animal parasiticides, are chemical substances that kill or eradicate micro-organisms or parasites and improve animal health. It consists of active ingredient which is helpful to carry out the activity of parasiticides on animal suffering from disease. Companies have come up with various new products in the animal parasiticides market to eradicate the increasing prevalence of diseases in animals. A growing awareness about animal healthcare over the past few years is expected come with growth of the global animal parasiticides market world widely.
The Animal Health Institute estimated that the cost for a drug company to manufacture or develop a new drug for animals and for approvals requires $100 million. July 2018, approval by the U.S. Food and Drug Administration to NexGard (afoxolaner), a chewable tablet given once in a month to dogs for prevention of Borrelia burgdorferi (B. burgdorferi) infections by killing Black-legged ticks (Ixodes scapularis), which carry the bacterium.The FDA originally approved NexGard in year 2013 to kill Black-legged ticks, Lone Star ticks, prevent and treat flea infestations, American Dog ticks, and Brown Dog ticks.
Major Market Drivers and Restraints:
- Increasing awareness of zoonatic diseases.
- Animal welfare by growing popularity of animal parasiticides.
- Increased industrial medical farming.
- Increasing demand of parasiticides.
- Uses of parasiticides in food producing animals are restricted.
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Market Segmentation: Global Animal Parasiticides Market
- The Global Animal Parasiticides Market is segmented based on product type, animal type and geographical segments.
- Based on product type, the market is segmented into sprays, oral tablets, pour-ons and spot-ons, collars, dips, and other ectoparasiticides.
- Based on animal type, the market is segmented into companion animals and food-producing animals. The food-producing animals segment is further segmented into cattle, sheep, poultry, pigs, goats and other animals.
- Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Key Developments in the Market:
- July 2018, approval by the U.S. Food and Drug Administration to NexGard (afoxolaner), a chewable tablet given once in a month to dogs for prevention of Borrelia burgdorferi ( burgdorferi) infections by killing Black-legged ticks (Ixodes scapularis), which carry the bacterium.The FDA originally approved NexGard in year 2013 to to kill Black-legged ticks, Lone Star ticks, prevent and treat flea infestations, American Dog ticks, and Brown Dog ticks.
- Jan 2018, Elanco Animal Health, a division of Eli Lilly and Company (NYSE: LLY), has got approval of Credelio® (lotilaner). Credelio is a new drug treatment (monthly oral tick and flea) that is easy on dogs.
Reasons to Purchase this Report
- Current and future of Global Animal Parasiticides Market outlook in the developed and emerging markets
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- The latest developments, market shares, and strategies that are employed by the major market players
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