Portland, OR, Jan. 25, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the India, Bangladesh, Sri Lanka, Nepal pet parasiticides market was pegged at $14.77 million in 2020, and is estimated to reach $23.94 million by 2030, growing at a CAGR of 4.9% from 2021 to 2030.
Rise in prevalence of parasitic diseases in dogs and cats, surge in pet dogs and cats ownership rates, and increase in investments by private players for pet parasiticides drive the growth of the India, Bangladesh, Sri Lanka, Nepal pet parasiticides market. However, strict consent process for pet parasiticides hinders the market growth. On the contrary, surge in awareness related to parasitic diseases in dogs and cats is expected to unlock new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic led to lockdown across several countries, which led to shut down the manufacturing plants of pet parasiticides.
- Moreover, the disturbance in the supply chain, financial problems, and lack of labor at manufacturing plants negatively affected the market.
- The parasiticides manufacturing was disrupted in 2020, due to slowdown of the distribution chain of raw material.
Get detailed COVID-19 impact analysis on the India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides Market- https://www.alliedmarketresearch.com/request-for-customization/15259?reqfor=covid
The report segments the India, Bangladesh, Sri Lanka, Nepal pet parasiticides market on the basis of product, animal type, end user, and geography.
Based on product, the Ectoparasiticides segment held the lion’s share in 2020, accounting for more than half of the market. In addition, the segment is projected to register the highest CAGR of 5.3% during the forecast period. The report also analyzes the segments including Endoparasiticides and Endectocides.
On the basis of animal type, the dogs segment held the largest share in 2020, contributing to more than 90% of the market. However, the segment is anticipated to manifest the highest CAGR of 6.1% from 2021 to 2030. The research also discusses the cat segment.
The India, Bangladesh, Sri Lanka, Nepal pet parasiticides market across India dominated in 2020, accounting for around four-fifths of the market. Moreover, the region is estimated to portray the highest CAGR of 5.1% during the forecast period.
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The India, Bangladesh, Sri Lanka, Nepal pet parasiticides market includes an in-depth analysis of the prime market players such as Bremer Lanka Pvt Ltd., Cadila Healthcare Ltd., C. H. Boehringer Sohn AG & Co. KG (Boehringer Ingelheim International GmbH), Elanco Animal Health Inc., Hayleys Animal Health, Lutim Pharma Private Limited, MERCK & CO., INC.(Merck Animal Health), Vetoquinol S.A., Virbac, and Zoetis Inc.
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