(PharmaNewsWire.Com, January 22, 2018 ) According to Publisher, the Global Animal Parasiticides market is accounted for $7.54 billion in 2016 and is expected to reach $11.63 billion by 2023 growing at a CAGR of 6.3%. Increasing awareness among people about zoonotic disease and rising adoption of pet animals largely across the globe has made a way for the global animal parasiticide market. With the rise in animal health expenditure, animal-derived food products and animal research along with growing research grants, the market is fueling up. However, preferential adoption of vegetarian diets, stringent approval process for animal parasiticides and restriction on the use of parasiticides in food-producing animals are restraining the market to a certain extent.
Based on product, the demand for endoparasiticides products are growing more and more as they manage the incidences of internal parasiticides such as flukes, tapeworms and roundworms which in turns favors the market. Based on geography, the dominant market share is swallowed by Europe followed by North America, owing to increasing awareness about animal diseases, growing number of veterinary practitioners and their income levels, and rising demand for animal-derived food products. Moreover, Asia Pacific is expected to be the fastest growing market owing to rise in livestock population and increasing pet adoption.
Some of the key players of the Animal Parasiticides market include Novartis AG, ELI Lilly and Company, Virbac SA, Perrigo Company PLC, Ceva Sante Animale, Boehringer Ingelheim, Merck & Co., Inc., Bayer AG, Zoetis, Inc., Elanco, Vetoquinol S.A., Sanofi S.A, Dechra Pharmaceuticals, Lillidale Animal Health and Phibro Animal Health.
Regions Covered: -North America -US -Canada -Mexico -Europe -Germany -U.K. -Italy -France -Spain -Rest of Europe -Asia Pacific -Japan -China -India -Australia -New Zealand -South Korea -Rest of Asia Pacific -South America -Argentina -Brazil -Chile -Rest of South America -Middle East & Africa -Saudi Arabia -UAE -Qatar -South Africa -Rest of Middle East & Africa
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