What is Global Livestock Animal Parasiticides Market?
The Global Livestock Animal Parasiticides Market is a vast and dynamic sector that focuses on the production and distribution of parasiticides, which are substances used to kill parasites in livestock animals. This market is of significant importance as it directly impacts the health and productivity of livestock, which in turn affects the global food supply chain. The parasiticides are used to control and eliminate various types of parasites such as ticks, fleas, lice, mites, and worms that can cause severe diseases in animals. The market is driven by the increasing demand for meat and dairy products, growing awareness about animal health, and advancements in parasiticide products. The market is also influenced by various factors such as government regulations, animal welfare laws, and the availability of alternatives.
Endoparasiticides, Ectoparasiticides, Endectocides in the Global Livestock Animal Parasiticides Market:
The Global Livestock Animal Parasiticides Market is segmented into Endoparasiticides, Ectoparasiticides, and Endectocides. Endoparasiticides are used to control internal parasites such as worms, while Ectoparasiticides are used to control external parasites like ticks and fleas. Endectocides, on the other hand, are a combination of both and are used to control both internal and external parasites. Each of these segments has its own market dynamics, influenced by factors such as the type of livestock, the prevalence of parasites, and the availability of products. For instance, the demand for Endoparasiticides is high in regions with a high prevalence of worm infestations, while the demand for Ectoparasiticides is high in regions with a high incidence of tick and flea infestations. The Endectocides segment is expected to grow rapidly due to its dual functionality.
Cattle, Swine, Poultry, Fish, Others in the Global Livestock Animal Parasiticides Market:
The Global Livestock Animal Parasiticides Market finds its application in various areas such as Cattle, Swine, Poultry, Fish, and Others. The use of parasiticides in cattle is crucial as they are highly susceptible to various types of parasites, which can affect their health and productivity. Similarly, in swine and poultry, the use of parasiticides is important to control the spread of parasites and to ensure the health and well-being of the animals. In the fish industry, parasiticides are used to control sea lice, a common parasite that affects farmed salmon. The 'Others' segment includes animals such as sheep, goats, and horses. The use of parasiticides in these animals is also important to control the spread of parasites and to ensure their health and productivity.
Global Livestock Animal Parasiticides Market Outlook:
The Global Livestock Animal Parasiticides Market has shown significant growth over the years. In 2023, the market was valued at US$ 4933 million and it is projected to reach US$ 6664.7 million by 2030, growing at a CAGR of 4.3% during the forecast period of 2024 to 2030. This growth can be attributed to the increasing demand for meat and dairy products, advancements in parasiticide products, and growing awareness about animal health. Furthermore, according to Our PET Supplies Research Center, the global pet industry reached a value of $ 261 billion in 2022, marking a year-on-year increase of 11.3%. This indicates a growing trend towards pet ownership and the increasing importance of pet health, which in turn is expected to drive the demand for parasiticides.
| Report Metric | Details |
| Report Name | Livestock Animal Parasiticides Market |
| Accounted market size in 2023 | US$ 4933 million |
| Forecasted market size in 2030 | US$ 6664.7 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 |
