Animal Parasiticides Market to Experience Steady Rate to Gain Exponential Revenue Growth

Research Methodologies Followed for This Research:

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include CEOs, consultants, subject-matter experts, directors, general managers, developers, and other key opinion leaders of companies that offer animal parasiticides.

Primary research was conducted to identify segmentation types, industry trends; animal types; key players; key market dynamics such as drivers, opportunities, challenges; and key player strategies.

Secondary Research:

Various secondary sources such as the World Health Organization (WHO), International Federation for Animal Health (IFAH), Animal Health Institute (AHI), and American Pet Products Association (APPA), alongside the annual reports, press releases, and filings of market players, have been used to identify and collect information useful for this market study.

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Overview of This Study:

The study involved four major activities for estimating the size of the animal parasiticides market. Exhaustive secondary research was done to collect information on the market, including its peer markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Target Audience:

Veterinary hospitals and clinics
# Veterinary research institutes
# Animal health companies
# Animal farms
# Government associations
# Market research and consulting firms
# Venture capitalists and investors

The animal farms segment is expected to witness the highest growth rate in the animal parasiticides market, by end user, during the forecast period

Based on end user, the animal farms segment is expected to register the highest CAGR during the forecast period. The increasing incidence of parasitic diseases and rising demand for animal-derived food products are the major factors supporting the growth of this segment.

Recent Developments:

# In February 2020, Zoetis launched Simparica Trio, a parasiticide for dogs with, or at risk from, mixed external and internal parasitic infestations.

In February 2020, Elanco signed an agreement with Merck Animal Health to divest its worldwide rights for Vecoxan, used for the prevention and treatment of coccidiosis in calves and lambs.

In February 2020, Vetoquinol acquired rights to Profendor and Drontal (parasiticides for companion animals offered by Elanco) for the European Economic Area and the UK.

In August 2019, Boehringer Ingelheim opened a Health Management Center in China.

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North America dominated the animal parasiticides market in 2019

North America accounted for the largest share of the animal parasiticides market in 2019, followed by Europe and the Asia Pacific. High pet spending,increased awareness about animal health, and the growing companion animal population are the major factors responsible for the large share of North America in the animal parasiticides market.

Global Leaders:

The global animal parasiticides market is fragmented, with many regional and global players vying for larger market shares. Bayer AG (Germany), Boehringer Ingelheim (Germany), Elanco (US), Zoetis (US), Merck (US), and PetIQ (US) are the major players in this market.

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