Global Animal Parasiticides Market Size to worth USD 20.11 Billion by 2033: Market Statistics Report

Global Animal Parasiticides Market Size to worth USD 20.11 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Animal Parasiticides Market Size is Expected to Grow from USD 11.21 Billion in 2023 to USD 20.11 Billion by 2033, at a CAGR of 6.02% during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Animal Parasiticides Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Ectoparasiticides, Endoparasiticides, and Endectocides), By Animal Type (Companion Animals and Livestock Animals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

Animal parasiticides are chemical formulations or substances designed for the prevention, control, and treatment of parasitic infestations in domesticated animals, such as livestock and companion animals. These products focus on eliminating a broad spectrum of external parasites, including ticks, mites, and fleas, as well as internal parasites, such as worms and protozoa. Animal parasiticides come in a variety of forms, including oral tablets, injectables, sprays, and topical solutions, and they play a very critical role in animal health protection, productivity improvement, and food safety in livestock farming. The animal parasiticides market is driven by increasing awareness of animal health and the growing demand for high-quality animal-derived food products, such as meat, milk, and eggs. Rising pet ownership and the humanization of pets have also significantly boosted the demand for parasiticides, particularly in developed economies. Furthermore, advancements in veterinary medicine and the development of innovative formulations with improved efficacy and safety profiles have supported market growth. The market faces some hurdles that include severe product approval regulation conditions, making new products not as easily enter into the market in time. Furthermore, parasites developing resistant strains create significant restraint for its continuous innovation requirement.

The ectoparasiticides segment is predicted to hold the greatest market share through the forecast period.

Based on the product type, the animal parasiticides market is classified into ectoparasiticides, endoparasiticides, and endectocides. Among these, the ectoparasiticides segment is predicted to hold the greatest market share through the forecast period. This dominance is primarily attributed to the high prevalence of external parasitic infestations, such as fleas, ticks, and mites, which significantly affect the health and productivity of both livestock and companion animals.

The livestock animals segment is anticipated to hold the greatest market share during the projected timeframe.    

Based on the animal type, the animal parasiticides market is divided into companion animals and livestock animals. Among these, the livestock animals segment is anticipated to hold the greatest market share during the projected timeframe. This dominance is driven by the critical role of parasiticides in maintaining the health and productivity of livestock, including cattle, sheep, goats, swine, and poultry. Effective parasite control is essential in livestock farming to prevent losses caused by parasitic infestations, which can adversely affect milk production, meat quality, and overall animal welfare.

North America is estimated to hold the largest animal parasiticides market share over the forecast period.

North America is estimated to hold the largest animal parasiticides market share over the forecast period. North America held the largest market share of animal parasiticides worldwide. The high and rising population of animals in the US and Canada are likely to have a large influence on the growth of the North America market. This can be ascertained from an increased number of veterinary clinics and the availability of treatments for animals.

Asia-Pacific is predicted to have the fastest CAGR growth in the animal parasiticides market over the forecast period. This rapid growth can be attributed to the increasing demand for animal-derived food products driven by a rising population, urbanization, and improved living standards. The region's expanding livestock sector, coupled with heightened awareness of animal health and productivity, further fuels the demand for parasiticides.

Company Profiling

Major key players in the animal parasiticides market are Merck & Co. Inc., Zoetis Services LLC, Ceva, Virbac, Heska Corporation, Boehringer Ingelheim International GmbH, PetIQ, LLC., Lilly., Sanofi, Perrigo Company plc, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts global, regional, and country revenue from 2023 to 2033. Spherical Insights has segmented the animal parasiticides market based on the below-mentioned segments:

Global Animal Parasiticides Market, By Product Type

• Ectoparasiticides
• Endoparasiticides
• Endectocides

Global Animal Parasiticides Market, By Animal Type

• Companion Animals
• Livestock Animals

Global Animal Parasiticides Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa