Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Animal Parasiticides market.
Trusted Business Insights presents an updated and Latest Study on Animal Parasiticides Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Animal Parasiticides market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Animal Parasiticides Market
Industry / Sector Trends
Animal Parasiticides Market valued over USD 5 billion in 2016 and is projected to grow with nearly 4% CAGR from 2017 to 2024.
U.S Animal Parasiticides Market size, by Product, 2019-2029 (USD Million)
A whooping rise in the zoonotic diseases prevalence and transmission from pets and farm animals to humans is envisaged to drive the global market. According to the ESCCAP, dogs and cats in Europe are frequently infested with endoparasites, ectoparasites and other vector-borne parasites. The body sets up guidelines for the prevention, control and treatment of companion animal parasites, with an aim to protect pets health as well as publics health by plummeting the possible risk of zoonotic parasite transmission.
Cramping many animals in an inadequate and unhygienic space should also elevate the need to prevent and control parasiticides infection. Rapid and intensified development of neoteric products will impel global market growth.
Rising number of companion animals and the preventive measures taken by their owners will serve as a high impact rendering factor for spurring pet parasiticides products demand. Furthermore, rising focus of animal health companies on developing promising animal parasiticides products will propel business growth over coming years.
Soaring demand for animal source protein will further drive animal health products sales and consequently fuel industry growth. Additionally, favorable government initiatives for prevention and control of animal infections and spreading of zoonotic diseases will also boost the industry growth.
Concerns regarding the use of parasiticides in food producing animals, lack of awareness in the developing countries and prohibitive costs relating to the development of new products should impede the industry growth over the forecast years.
Market Segmentation, Outlook & Regional Insights: Animal Parasiticides Market
Animal Parasiticides Market, By Product
Endoparasiticides accounted for the largest market share in 2016 and is estimated to witness significant growth over the forecast period, owing to the elevated use of endoparasiticides in development of new products. Easy to use and effective nature of pour-ons and spot-ons should drive the ectoparasiticides market with CAGR of around 4% during the forecast period, be indebted to the rising popularity and elevated usage of pour-on and spot-on formulations.
Endectocides dual purpose serving nature (being a endoparasiticide and ectoparasiticide) should spur the global market growth. Moreover, the mounting developments related to novel products should offer lucrative growth opportunities to industry players over the coming years.
Animal Parasiticides Market, By Animal Type
Farm animal parasiticides market will witness significant growth due to burgeoning demand for animal source protein, rising need to produce pathogen free animal for consumption. However, limitations concerning the use of parasiticides, especially endoparasiticides in food animals should prove to be a hurdle in the growth path.
Increased consumption of poultry meat worldwide and cattle farming for yielding by-products and meat should fuel the industry growth with nearly 4% CAGR during the forecast timeframe. Furthermore, the pet parasiticides market is poised to expand due to soaring pet adoption across the globe, growing awareness regarding usage of pet parasiticides will augment the business growth.
Animal Parasiticides Market, By Region
North America animal parasiticides market accounted for more than 25% of the regional revenue share, be indebted to large scale industrial animal farming and elevated number of pet population. Moreover, early adoption tendency for neoteric products results in rapid realization of sales in the United States.
Germany animal parasiticides market holds more than 19% share of the total European region, owing to the growth in number of farm animals, consequently their consumption and rising rate of pet adoption.
Asia Pacific market presents lucrative opportunity in expansion of Asia-Pacific industry size due to factors such as rising disposable incomes of pet owners, awareness about animal products and increasing penetration of animal health companies in India and China.
Key Players, Recent Developments & Sector Viewpoints: Animal Parasiticides Market
Globally active top 10 animal parasiticides companies hold nearly 70% share of the total market. Competition on basis of product differentiation, pricing and geographical presence is seen amongst the top players. A sizeable proportion of their share come from developed regions. Focus on exploring promising developing markets is clearly visible, as many multinational companies are looking for greener avenue of business to gain competitive advantage.
Animal Parasiticides Industry Viewpoint
The animal parasiticides industry has been shaping up since more than 3 decades. It started operating as an organized sector from developed regions such as North America and Europe; however, it has proliferated rapidly in developing nations of Latin America and Asia. The multinational animal health companies have been dominant throughout the course of industry so far; however specialized companies have shaped up lately. Introduction of domestic companies in countries such as China is likely to take a bit from market share pie in coming years
In Aug 2020, Merck Animal Health Completed the Acquisition of Worldwide Rights to VECOXAN® Brand of Parasiticides for Ruminant Portfolio. The acquisition Broadens Merck Animal Healths Position with Enhanced Parasite Protection in Calves and Lambs. Merck Animal Health, known as MSD Animal Health outside the United States and Canada, a division of Merck & Co., Inc., Kenilworth, N.J., USA (NYSE:MRK), today announced the completion of its previously announced acquisition of the worldwide rights to VECOXAN® (diclazuril), an oral suspension for the prevention of coccidiosis in calves and lambs, from Elanco Animal Health.
VECOXAN is efficacious, in lambs, against the prevention of coccidiosis caused by Eimeria crandallis and Eimeria ovinoidalis, and in calves, against coccidiosis caused by Eimeria bovis and Eimeria zuernii. VECOXAN is available in Europe, South Africa, South Korea and Japan.
Coccidiosis causes significant economic loss to farmers and producers due to reduced feed conversion, reduced growth rates, reduced performance or death, and by increased susceptibility to other infections, such as intestinal disease or Bovine Respiratory Disease.
Elanco Animal Health Inc. agreed to sell the worldwide rights for Vecoxan to Merck & Co. Inc. unit Merck Animal Health for $55 million in an all-cash deal. Elanco is divesting the rights in a bid to address antitrust concerns regarding its $7.6 billion acquisition of Bayers animal health business, which is expected to close in mid-2020.
The Vecoxan deal brings the total divestitures between $120 million and $140 million in revenue, which Elanco previously stated it would need to divest across both organizations to achieve any required clearances globally. In total, Elanco has generated about $425 million in pretax proceeds from the divestitures, and the company plans to use these funds to pay down debt associated with the Bayer animal health deal.
Elanco has received antitrust clearance for the acquisition in China, Turkey and Ukraine. The company noted that it is in advanced discussions with the required regulatory authorities, which are progressing as expected. Vecoxan joins Elancos previously announced Osurnia® and Capstar® divestitures, and divestiture of European Economic Area and U.K. rights for Drontal® and Profender® from the Bayer portfolio.
Key Insights Covered: Exhaustive Animal Parasiticides Market
1. Market size (sales, revenue and growth rate) of Animal Parasiticides industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Animal Parasiticides industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Animal Parasiticides industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Animal Parasiticides industry.
Research Methodology: Animal Parasiticides Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
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