New York, USA, Aug. 24, 2021 (GLOBE NEWSWIRE) -- A new report on the global animal parasiticides market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $7,082.2 million by 2027, rising at a CAGR of 4.2% from 2019 to 2026. This report in an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth:
The key factor boosting the growth of the global animal parasiticides market is the surging demand for pet animals and animal protein food across the globe. Also, a significant surge in the awareness about pet care and considerable growth in the demand for animal food protein products are projected to propel the adoption of animal parasiticides. Moreover, the growing cases of parasite infections and diseases among the pet animals, livestock, and other animals and rising government initiatives for animal healthcare are expected to open doors to profitable opportunities for the growth of the market throughout the forecast period.
The report segments the global animal parasiticides market into animal type, application, and region.
Companion Animal Sub-Segment to Hold a Dominating Position
The companion animal parasiticides sub-segment of the animal type segment is projected to hold a leading position in the market by garnering a revenue of $2,323.0 million in the forecast period. This is chiefly owing to the growing adoption of pet animals worldwide. Besides, rise in animal healthcare expenditures to protect animals from zoonotic illnesses is expected to fuel the growth of the market in the future years.
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Ectoparasiticides Sub-Segment to Grab a Foremost Market Position
The ectoparasiticides sub-segment of the application segment is anticipated to grab a foremost position in the market by gathering a revenue of $1,678.5 million in the estimated period. The growth of this sub-segment is mainly owing to a rise in the demand for the treatment of infestations occurring in animals.
Asia-Pacific Region to Experience Extensive Growth
The report analyzes the global animal parasiticides market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia-Pacific region market is estimated to observe a considerable growth by surpassing $1,614.8 million at a CAGR of 4.7% in the forecast period. The growth of this region market is primarily due to the presence of various farm animals and upsurge in the need for quality meat in this region.
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Key Market Players
The report lists some of the foremost players operating in the global animal parasiticides industry are
- Zoetis Inc.
- Vetoquinol
- Elanco
- Ceva Santé Animale
- Perrigo Company Plc
- Boehringer Ingelheim animal Health
- Eli Lilly
- Merck Co.
- Bayer AG
- Sanofi
- others.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in July 2020, Boehringer Ingelheim, one of the world's largest pharmaceutical companies, launched two new products in their animal healthcare portfolio in the India market. The two products – NexGard and Broadline offer complete parasite treatment for dogs and cats, respectively.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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