Veterinary Parasiticides Market Size, Share, Industry Trends and Forecast to 2030

Veterinary Parasiticides Market Size & CAGR in 2021

The global veterinary parasiticides market is expected to have a growth rate of 4.2% CAGR from 2021 to 2028, resulting in a market growth of USD 3.5 billion by the end of the forecast period.

The market size of veterinary parasiticides in 2021 was estimated to be USD 2.5 billion, showcasing a steady growth trajectory in the coming years.

COVID-19 Impact on the Veterinary Parasiticides Market

The COVID-19 pandemic had a mixed impact on the veterinary parasiticides market. While the initial lockdown measures and supply chain disruptions posed challenges for the market, the increasing focus on animal health and hygiene during the pandemic boosted the demand for parasiticides.

The restrictions on movement and trade affected the availability of veterinary parasiticides in some regions, leading to temporary supply shortages. However, the awareness about zoonotic diseases and the importance of preventive measures for pets and livestock drove the market growth during the pandemic.

Veterinary Parasiticides Dynamics

The veterinary parasiticides market is driven by factors such as the increasing prevalence of parasitic infections in animals, rising pet ownership, and growing demand for animal protein products.

Advancements in parasitology research and the development of novel parasiticides with improved efficacy and safety profiles have also contributed to the market growth.

Segments and Related Analysis

By Product Type:

- Ectoparasiticides: This segment includes products for external parasite control, such as flea and tick treatments.

- Endoparasiticides: These products target internal parasites like worms and protozoa.

By Animal Type:

- Companion Animals: This segment covers parasiticides for pets like dogs, cats, and birds.

- Livestock: These parasiticides are used for farm animals such as cattle, sheep, and poultry.

By Region Analysis

North America

- The North American market for veterinary parasiticides is the largest globally, driven by high pet ownership rates and stringent regulations on animal health.

Europe

- Europe is a significant market for veterinary parasiticides, with countries like the UK, Germany, and France driving the demand for parasite control products.

Asia Pacific

- The Asia Pacific region is witnessing rapid growth in the veterinary parasiticides market due to the increasing adoption of pets and the expansion of the livestock industry.

Key Market Players and Competitive Landscape

Some of the key players in the veterinary parasiticides market include Zoetis, Merck Animal Health, Elanco, Boehringer Ingelheim, and Virbac. These companies focus on product innovation and strategic partnerships to maintain their market positions.

Recent Happenings in the Veterinary Parasiticides Market

- In 2021, Zoetis launched a new flea and tick treatment for dogs, expanding its portfolio of parasiticides.

- Merck Animal Health announced a collaboration with a leading research institute to develop novel endoparasiticides for livestock.

- Virbac introduced a new ectoparasiticide spray for cats, enhancing its range of products for companion animals.