(Australia-NewsWire.Com, August 02, 2018 ) The Global Animal Parasiticides Market was worth USD 8.71 billion in 2018 and estimated to be growing at a CAGR of 5.75%, to reach USD 11.52 billion by 2023. Growing awareness about the correct healthcare of animals, pet animals included, around the world is the main reason behind the market growth.
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Ectoparasiticides to remain the largest contributor to the global market share
Based on Product, the global Animal Parasiticides Market is broadly categorized into Ectoparasiticides and Endoparasiticides. Both the segments respectively have further sub segments like Collars, Tablets, Sprays and Edible liquids, Edible solids. Ectoparasiticides segment accounted for the largest share of the global market and is expected to retain its top position through the forecast time period.
Growing meat demand to be a positive influence on market growth
On the basis of Animal type, the global market is broadly classified into Food-producing Animals and Companion Animals. Food-producing animals include Cattle, Pigs, Poultry and companion animals encompass Dogs, Cats and other animals. The evergreen demand for good quality meat from livestock acts as a key driver in the discovery of new parasiticides suitable for various types of livestock.
Asia Pacific Animal Parasiticides Market to have the grow at the fastest rate
On the basis of categorization by geography, the global market is examined as North America, Europe, Asia-Pacific and Rest of the World regions. Asia Pacific region is expected to have the highest growth rate, owing to the increasing demand for animal products in developing countries in the region, like India and China. Europe was the largest contributor to the global market share.
The major companies in the global Animal Parasiticides Market are Virbac (France), Sanofi (France), Ceva Sante Animale (France), Eli Lilly and Company (U.S.), Merck and Co. Inc. (U.S.), Bayer AG (Germany), Boehringer Ingelheim (Germany), Vetoquinol S.A. (France), Zoetis Inc. (U.S.), and Perrigo Company plc (Ireland).
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