The Asia Pacific Animal Parasiticides Market was worth USD 2.18 billion in 2016 and estimated to be growing at a CAGR of 5.9%, to reach USD 2.9 billion by 2021. The market shows evident growth potential in the mentioned forecasting period. It is expected to expand in the future years with the gradual increase in awareness about animal health.
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Animal parasiticides are the medications intended for removal of all the parasites other than fungi and bacteria present on animals. They are generally non-reactive chemical substances which are mixed with each other and may have many different ingredients. Ingredients in a parasiticide generally have uniform chemical structures and have some common features. Often they are categorized according to the chemical families they belong to. The animal parasiticides have high importance when it comes to protecting animals from parasitic diseases.
Rising pet population, Increasing ability of people to spend on healthcare of animals, growing concern for quality of meat and animal products like leather and milk and the development in the R & D sector of animal healthcare have led to the growth of Asia-Pacific Animal Parasiticides market. However, growing inclination towards vegetarian and vegan lifestyles as well as strict restrictions on the approval for animal parasiticides are the hindering the growth of Asia-Pacific animal parasiticides market.
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The Asia-Pacific Animal Parasiticides Market is segmented on the basis of Product into Ectoparasiticides and Endoparasiticides. The ectoparasiticides cover Pour-ons, Sprays, Dips, Ear Tags, Collars and Tablets whereas the endoparasiticides cover Edible Liquids, Edible Solids, Injectable and Feed Additives. Further on the basis of Animal type the animal parasiticides are segmented into Food-producing Animals and Companion Animals. The food-producing animals are classified into Cattle, Sheep and Goats, Pigs, Poultry and others. The Companion animals are segmented as Dogs, Cats, Horses and others.
On the basis of geography, the Asia-Pacific market is analysed under various regions namely China, India, Japan, South Korea and the remaining of Asia-Pacific. Many of the countries in this are are emerging economies and hence a lot of scope for the growth of Animal Parasiticide market is expected to be seen in the future years especially in India and China.
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Some of the major companies that are coming up with innovative products in the animal parasiticides market to remove the traces of foodborne diseases are Sanofi S.A. (Merial), Ceva Sante Animlae, Virbac SA, Vetoquinol S.A., Eli Lilly and Company, Zoetis Inc., Merck & Co Inc., Bayer AG, Boehringer Ingelheim GmbH and Perrigo Co. plc.
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