https://www.meticulousresearch.com/product/animal-parasiticides-market-5451
The global animal parasiticides market is projected to reach $17.9 billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030, according to a recent report by Meticulous Research®. This growth is driven by the increasing prevalence of zoonotic and parasitic diseases, rising demand for animal-derived food products, and growing expenditure on animal health. Additionally, the rising number of livestock in emerging economies presents significant growth opportunities. However, the market faces challenges, such as restrictions on parasiticide use in food-producing animals and the growing popularity of plant-based diets.
The market is segmented by product type, parasite type, animal type, and geography. Ectoparasiticides, used to treat external parasites like fleas, ticks, and mites, are expected to dominate the market due to their ease of use and widespread infestation rates. The companion animal segment is forecasted to hold the largest share, driven by the growing pet population and high spending on pet health. North America is expected to lead the market, followed by Europe and Asia-Pacific, due to high expenditure on animal health and a large pet population.
Key market players include Zoetis, Virbac, Heska, Boehringer Ingelheim, Merck, and Elanco, among others.