Jul 7, 2020 5:27 PM ET
iCrowd Newswire – Jul 7, 2020
Global Animal Parasiticides Market operates across a vast field and is strongly supported by the growing demand for meat products. It is the result of a huge population boom, which is inspiring markets to adapt accordingly. The global animal parasiticides market has a chance to surpass a valuation of USD 12.4 billion by 2024, with a CAGR of 5.4% during the forecast period of 2019 to 2024. Market Research Future (MRFR) identified several opportunities that this market explores to promote its growth.
For instance, the rising awareness regarding the better standard of meat quality, hike in disposable income, growing urbanization that triggers the intake of a variety of quality meat products, increasing number of pet owners in the urban areas, rising investment in the research and development sector, changing market in the developing regions, and others are expected to boost the global animal parasiticides market.
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Bayer Animal Health GmbH (Germany), Vétoquinol and Bioniche Life Sciences Inc. (Canada), Boehringer Ingelheim International GmbH (Germany), DSM N.V. Merck & Co. Inc. (US), Biomin Holding Gmbh (German), AB Vista Inc. (UK), The Alltech Groupare (US), Cargill Inc (US), Zoetis Inc.(US), Bupo Animal Health (South Africa), Elanco Animal Health Incorporated (US), Danisco A/S (Denmark), Chr. Hansen A/S (Denmark), and Novus International Inc. (US) are some of the prominent names involved in the global animal parasiticides market. These companies are mostly relying on the effective acquisition, merger, hike in research and development projects, collaboration, innovation, launching strategies, branding, and others to ensure their personal growth gets bolstering impact and they can contribute to the global growth for the market. MRFR listed the recent changes to understand the flow of the trend.
In June 2020, academic reports revealed that the newly launched Simparica Trio (sarolaner-moxidectin-pyrantel—Zoetis) is the first-of-its-kind combination drug that provides protections for dogs against ticks, heartworms, fleas, and roundworms/hookworms. It has been tested by various bodies and gone through several rounds to ensure that its ability to take necessary action against targeted parasites is substantial.
In June 2020, the European Commission revealed that it have approved under the EU Merger Regulation, the proposed taking over of Bayer AGs animal health division by Elanco Animal Health Inc. This decision will have certain conditions regarding the divestment of otitis products and various types of parasiticides in the UK, the European Economic Area (EEA), and globally.
The global report studies details of the Animal Parasiticides Market segments the market on the basis of product type and livestock. These two segments have inputs from experts that are backed by various data, charts, graphs, and others, which make them credible sources of information, and players can use it to increase their profit margin.
By product type, the study on the global animal parasiticides market has been segmented into endoparasiticides, ectoparasiticides, and endectocides. These segments have their specific clientele and can trigger substantial growth.
By livestock, the global report containing details of the animal parasiticides market has been segmented into poultry, porcine, ruminants, and others. Both ruminants and poultry segments are getting traction from the growing demand for healthy meat products owing to which the intake of parasiticides in these segments would be substantial.
North America would dominate the animal parasiticides market due to the increasing regional activities related to raising livestock. Also, the market would benefit from constant development in research activities and others. However, the market may experience a jolt due to the ongoing COVID-19 disturbances.
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