What is Global Companion Animal Parasiticides Market?
The Global Companion Animal Parasiticides Market is a sector that focuses on the production and distribution of parasiticides, which are substances that kill parasites. These are used to protect companion animals such as dogs, cats, and horses from various parasitic infections. The market is vast and global, encompassing numerous companies and products. It includes both pharmaceutical and biotech companies that develop and manufacture these parasiticides, as well as the veterinarians and pet owners who use them. The market is driven by factors such as the increasing prevalence of parasitic infections among companion animals, growing awareness about animal health, and advancements in parasiticides products. The market also faces challenges such as stringent regulations and adverse effects of parasiticides. However, the overall outlook for the market is positive, with steady growth expected in the coming years.
Endoparasiticides, Ectoparasiticides, Endectocides in the Global Companion Animal Parasiticides Market:
The Global Companion Animal Parasiticides Market is segmented into Endoparasiticides, Ectoparasiticides, and Endectocides. Endoparasiticides are used to kill parasites that live inside the body of the animal, such as worms. Ectoparasiticides are used to kill parasites that live on the surface of the animal, such as fleas and ticks. Endectocides are a type of parasiticide that can kill both types of parasites. Each of these segments has its own market dynamics, with different factors influencing their growth. For instance, the market for endoparasiticides is driven by the high prevalence of internal parasites among companion animals, while the market for ectoparasiticides is driven by the increasing incidence of external parasites. The market for endectocides is influenced by the convenience of using a single product to treat both internal and external parasites.
Dogs/Cats, Equine in the Global Companion Animal Parasiticides Market:
The Global Companion Animal Parasiticides Market is widely used in the care of dogs and cats, as well as equine animals. For dogs and cats, parasiticides are often used as a preventative measure to protect against common parasites such as fleas, ticks, and worms. They can also be used to treat existing infections. In the equine sector, parasiticides are used to protect horses from a range of parasites, including bots, lice, and various types of worms. The use of parasiticides in these areas is driven by the desire of pet owners and caretakers to ensure the health and well-being of their animals.
Global Companion Animal Parasiticides Market Outlook:
The Global Companion Animal Parasiticides Market has shown significant growth in recent years. In 2023, the market was valued at US$ 2111 million and is expected to reach US$ 2852 million by 2030, growing at a CAGR of 4.3% during the forecast period 2024-2030. This growth is reflected in the increased spending on veterinary and pet services, which in the UK alone has risen from 2.6bn in 2015 to 4bn in 2021, a 54% increase in just six years. The global animal health industry, which includes the parasiticides market, is also expected to grow by 12% to $38.3 billion in 2021, according to Vetnosis. In China, the pet medical market, which includes the parasiticides market, is valued at about 67.5 billion, accounting for about 22.5% of the entire pet industry.
| Report Metric | Details |
| Report Name | Companion Animal Parasiticides Market |
| Accounted market size in 2023 | US$ 2111 million |
| Forecasted market size in 2030 | US$ 2852 million |
| CAGR | 4.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Boehringer Ingelheim, Zoetis, Merck, Elanco, Bayer, Virbac, Ceva Sante Animale, Vetoquinol, Bimeda Animal Health, Chanelle |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
