Animal Parasiticides Market Industry Trends and Segments Analysis 2016-2024

Global Animal Parasiticides Market: Description

Animal parasiticides are various formulations used to get rid of parasites in both companion and livestock animals. Animal parasites not only cause distress to the animal, but can also result in outbreaks of zoonotic diseases, necessitating the use of parasiticides. The type of parasiticides to be used depends entirely on the parasite in question, and a wide range of animal parasiticides has thus been developed in recent years. The rising demand for meat and meat products and the increasing preference for keeping companion animals have emerged as the key factors propelling the global animal parasiticides market and are expected to remain influential in the near future.

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Global Animal Parasiticides Market: Drivers

The major driver for the global animal parasiticides market is the increasing demand for animal-derived products. Milk and various meat products have been a staple of the dietary intake of humans for centuries and continue to be among the most widely consumed animal products around the world. This has naturally led to a demand to keep production animals healthy, since diseases in animals can affect the quality of the products obtained from them.

The growing concern regarding zoonotic diseases, as seen in the scare caused by the outbreak of mad cow disease in North America, has resulted in many private players funding research into animal parasiticides as well as several governments mandating the use of preventive measures against zoonotic diseases. The animal parasiticides market has thus received significant regulatory and financial support in recent years, boosting its growth rate.

Apart from production animals, demand for animal parasiticides for companion animals is also increasing. High expenditure on pet healthcare is common in North America and Europe and is becoming...