Animal parasiticides or antiparasitics are chemical substances used to eradicate parasites that infect livestock, pets, and other animals and subsequently improve animal health. Most parasiticides finished products consist of one or more active ingredients that help carry out a specific action against particular parasites. Parasiticides also comprise inert ingredients (water and alcohol) called as solvents (stabilizers, preservatives, emulgants, etc.). Animal parasiticides market size is expected to grow at a significant rate owing to increased pet adoption worldwide.
Global Animal Parasiticides Market Taxonomy
The global animal parasiticides market outlook can be classified on the basis of type of parasiticides, animal type, and end user. There are five types of parasiticides, namely ectoparasiticides, endoparasiticides, endectocides, anthelmintic, and anti-protozoans. Parasiticides used for killing external parasites in animals such as fleas, ticks, lice, fleas, and mites are termed as ectoparasiticides. Most ectoparasiticides are called pesticides, as these chemicals are also used for agriculture and hygiene purpose. Likewise, endoparasiticides are utilized to kill internal parasite such as flukes, roundworms, and tapeworms in animals. Most endoparasiticides are termed as veterinary medicines, as the active ingredients of the products are not used for agriculture and hygiene purpose. Endectocides or macrocyclic lactones are effective in both internal and external parasites. They are either natural products or chemically-modified derivatives that show strong parasiticidal efficacy in animals. On the basis of their chemical structure, endectocides are segmented into avermectins and milbemycins. Parasiticides are available in various formulations namely, liquids, tablets, injectables, sprays, spot-on, and pour-on.
On the basis of animal type, the global animal parasiticides market scenario can be segmented into food producing animals (cattle, pigs, poultry, sheep, and goats) and companion animals (dogs, cats and horses). On the basis of end user, the global animal parasiticides market is segmented into farms, R&D facilities, and veterinary clinics. Increasing pet adoption in the Asia Pacific region is a major driving factor fueling demand for animal parasiticides in veterinary clinics.
Growing Livestock Population and Increasing Adoption of Pet Animals in the Asia Pacific Region is expected to boost growth of the animal parasiticides market size over the forecast period
Geographically, the global animal parasiticides market outlook can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East. Key factors driving growth in adoption of animal parasiticides in Europe and North America include increasing pet adoption, high number of R&D activities, increasing expenditure on animal health, and rising demand for animal-derived food products. However, Asia Pacific (India, China, Australia, Japan, and Malaysia) is expected to be the most lucrative market for animal parasiticides in future due to a number of driving factors such as increasing number of companion animals, growing livestock population, increasing expenditure on animal health, and rising awareness about animal health.
Animal Parasiticides Market Trends
Key driving factors for the growth of the global animal parasiticides market include increasing awareness about animal zoonotic disease, rising number of animal population especially in developing nations of the world, increasing demand for animal-based food and animal proteins, and increasing animal research activities. Furthermore, increasing expenditure on animal health and government initiatives to protect animal health is fueling demand for animal parasiticides. However, high cost of R&D activities, new species of parasites, stringent regulatory policies for approval of animal parasiticides, and high cost of animal parasiticide products is hindering growth of the animal parasiticides market.
There has been various consolidation activities in the global animal health industry. In just one year, 2016, Boehringer Ingelheim acquired Sanofi's animal health business, Novartis sold its animal health business to Eli Lilly and Merck Animal Health (subsidiary of Merck & Co.) acquired Vallee—a leading animal health product manufacturer based in Brazil. Some of the major market players operating in the global animal parasiticides market include Boehringer Ingelheim, Bayer Ag, Eli Lilly And Company, Ceva Sante Animale, Novartis Ag, Merck & Co., Inc., Zoetis, Inc., Virbac Sa, and Merial.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized firstname.lastname@example.org
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.