Animal Parasiticides Market Size, Share, Growth Analysis, By Product Type(Ectoparasiticides and Endoparasiticides), By Application(Flea and Tick Control, Worm Control), By End-user(Veterinary Hospitals and Clinics, Farms and Homecare.), By Animal Type(Companion Animals and Livestock Animals.), By Parasite Type(External Parasites and Internal Parasites.) - Industry Forecast 2024-2031

Animal Parasiticides Market size was valued at USD 11.2 billion in 2022 and is poised to grow from USD 11.97 billion in 2023 to USD 20.42 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).

The animal parasiticides market is characterized by a competitive landscape with numerous players operating in the industry. These companies are engaged in the development, manufacturing, and distribution of parasiticides for animals. The market is driven by the increasing prevalence of parasitic infections in livestock and companion animals, coupled with the growing awareness about the importance of animal health. Companies in the animal parasiticides market also place emphasis on research and development activities to introduce innovative products. This involves investing in the discovery of new active ingredients, formulations with improved delivery systems, and the development of combination products for broad-spectrum protection against multiple parasites. Additionally, manufacturers prioritize regulatory compliance to meet the stringent guidelines and safety standards set by regulatory authorities. Another aspect of the competitive landscape is the geographical presence and distribution networks of these companies. 'Zoetis Inc. (US)', 'Merck & Co., Inc. (US)', 'Elanco Animal Health Incorporated (US)', 'Boehringer Ingelheim Animal Health GmbH (Germany)', 'Bayer AG (Germany)', 'Virbac (France)', 'Ceva Santé Animale (France)', 'Vetoquinol S.A. (France)', 'Dechra Pharmaceuticals PLC (United Kingdom)', 'Merial (Sanofi) (France)', 'Chanelle Pharmaceuticals Manufacturing Ltd. (Ireland)', 'Norbrook Laboratories Ltd. (United Kingdom)', 'Kyoritsu Seiyaku Corporation (Japan)', 'Huvepharma (Bulgaria)', 'Indian Immunologicals Limited (India)', 'Neogen Corporation (US)', 'ECO Animal Health Group plc (United Kingdom)', 'Jurox Pty Ltd. (Australia)', 'Bio-Vet Inc. (US)', 'Aratana Therapeutics, Inc. (US)'

The growing occurrence of parasitic infections in animals, encompassing livestock and pets, serves as a substantial catalyst for the animal parasiticides market. Such infections can give rise to diverse health complications, impacting the overall welfare and productivity of animals. Consequently, there is an increasing demand for efficacious parasiticide products to prevent and treat these infections, driving the growth of the market.

One prevailing market trend in the animal parasiticides market is the increasing emphasis on preventive healthcare measures. There is a growing awareness among pet owners and livestock farmers regarding the significance of proactive healthcare for animals, which includes the regular use of parasiticides. Rather than waiting for parasitic infections to occur, there is a shift towards adopting preventive measures to control parasites and prevent infestations. This trend is driven by the desire to enhance animal welfare, reduce treatment costs, and mitigate the risk of zoonotic diseases. Pet owners are actively seeking veterinary guidance on preventive parasiticide treatments for their companion animals. They understand that administering parasiticides at regular intervals can effectively ward off fleas, ticks, heartworms, and other parasites, thereby ensuring the overall health and comfort of their pets.

The dominant region in the animal parasiticides market is North America. This region holds a substantial market share due to the presence of a well-developed veterinary healthcare infrastructure, advanced research and development facilities, and a high level of awareness about animal health. Additionally, strict regulations and guidelines regarding animal health and the prevention of parasitic infections contribute to the dominance of North America in the market. The United States, in particular, is a major contributor to the growth of the animal parasiticides market in North America.