Animal Parasiticides Market Size, Share, Forecasts

The Veterinary Parasiticides Global Market Report 2023 by The Business Research Company, provides veterinary parasiticides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Veterinary Parasiticides Global Market Report 2023, the market size is expected to grow from $12.24 billion in 2022 to $12.93 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global veterinary parasiticides is expected to grow to $15.51 billion in 2027 at a CAGR of 4.7%.

Animals are increasingly being affected by zoonotic pathogens, which are the leading cause of foodborne diseases worldwide. Zoonotic diseases are infectious diseases caused by bacteria, viruses, and parasites, especially Salmonella and Campylobacter, which can be transmitted directly or indirectly between animals and humans. These diseases get passed through the food chain to humans which is a potential threat and creates a dire need to prevent such diseases among animals.

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The veterinary parasiticides market is segmented:

1) By Type: Endoparasiticides, Ectoparasiticides, Endectocides

2) By End Users: R&D Facilities, Farms, Veterinary Clinics

3) By Product: Oral Liquids, Tablets, Injectables, Sprays, Other Products

4) By Application: Farm Animals, Companion Animals

The veterinary parasiticides market is regulated by government agencies such as the European Medicines Agency (EMA), USFDA (the US Food and Drug Administration), and others. For instance, under the directive 2008/97/EC of the European Parliament, certain products and drugs which contain substances having a hormonal or thyrostatic action and beta-agonists are banned. Meat or products from food-producing animals which have an oestrogenic, androgenic, or gestagenic action of beta-agonists are prohibited for human consumption unless those animals have been treated with veterinary medicine complying with the requirements of Article 6 of Council Directive 96/22/EC.

The veterinary parasiticides market report table of contents includes: