Meticulous Research® has released a new report titled, “Animal Parasiticides Market: Global Forecast to 2030.” The report forecasts that the animal parasiticides market will reach $17.9 billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030. This growth is driven by the increasing incidence of zoonotic and parasitic diseases, rising demand for animal-derived food products, and growing investments in animal health. Additionally, the expanding livestock population in emerging economies offers significant growth opportunities.
However, the limited use of parasiticides in food-producing animals and the rising popularity of vegetarian and vegan diets pose challenges to market growth.
The market is segmented by product type, parasite type, animal type, and geography. In 2024, the ectoparasiticides segment is expected to hold the largest market share due to the high rates of infestations from fleas, ticks, and mites. Ectoparasiticides, which come in various forms such as liquids, sprays, and collars, are easy to apply on affected animals.
Based on parasite type, the segment dealing with mites, ticks, fleas, and lice is projected to dominate the market in 2024, driven by the high prevalence of these ectoparasitic infections.
Regarding animal type, the companion animal segment is set to lead, with a significant pet population in households worldwide. For instance, around 70% of U.S. households own at least one pet, leading to substantial expenditure on pet health.
Geographically, North America is anticipated to account for the largest market share in 2024, followed by Europe and Asia-Pacific. The region’s high spending on animal health, commercialized meat industry, and large pet population contribute to this dominance.
