(PharmaNewsWire.Com, August 20, 2020 ) The increased pet population and increasing rising prevalence of zoonotic diseases are driving the growth of the animal parasiticides market. The base year considered for the study is 2019, while the forecast period is 2020 to 2025.
The base year considered for the study is 2019, while the forecast period is 2020 to 2025.
By type, the ectoparasiticides segment accounted for the largest share of the market in 2019
On the basis of type, ectoparasiticides segment accounted for the largest share of the animal parasiticides market. This can be attributed to factors such as the growing incidences of zoonotic diseases due to external parasites and increased population of companion animals.
By animal type, companion animals held the highest growth of the animal parasiticides market in 2019
On the basis of animal type, companion animals accounted for the highest growth in this market. This is attributed to the increasing number of companion animals and the rising prevalence of zoonotic diseases in dogs worldwide.
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.
North America will continue to dominate the market during the forecast period
Geographically, the global animal parasiticides market has been segmented into five major regional segments—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America accounted for the largest share of the market in 2019, followed by Europe and the Asia Pacific. North America’s leading position is primarily due to the rising pet expenditure, the growing population of companion animals, and the increasing consumption of animal-derived food products.
Key Market Players:
The prominent players in the global Animal parasiticides market are Boehringer Ingelheim (Germany), Elanco (US), Zoetis (US), Merck (US), and Virbac (France).
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