Veterinary Parasiticides Market Size is Predicted to Witness 8.50% CAGR till 2030

[sara James]

The global Veterinary Parasiticides Market size is expected to reach USD 16.63 billion by 2030, registering a CAGR of 8.50% from 2024 to 2030, according to a new report by Grand View Research, Inc. Primary market growth drivers include rising demand for pathogen-free meat products and the need for a regulated approach towards parasiticides use. In recent years, with increasing meat consumption, it has been observed that transmission of diseases from meat products has increased. According to an August 2023 study published in the International Journal of Food Microbiology, out of the total studied disease outbreaks from 1991 to 2021, the majority, i.e., 42.4%, were transmitted through meat production establishments. Regarding types of meat, beef & pork were identified to be responsible for 62.35% & 32.1% of the outbreaks, respectively. Such incidences have led to a rise in demand for pathogen-free meat products.

In response, meat producers are employing various strategies before harvesting the meat from the animals to reduce the risk of transmission of foodborne pathogens. Some of these strategies are reducing the number of pathogens entering processing plants, reducing horizontal pathogen spread from infected animals during transport, reducing the pathogen burden in the environment (e.g., dust and pen surfaces), and administering proper treatment regimens to the animals to reduce the risk of getting infected.

Furthermore, animal farms are also breeding & raising specific pathogen-free (SPF) animals free of selected pathogens like parasites, bacteria & viruses, which can potentially transmit diseases to humans. A history of regular pathogen testing and meticulous biosecurity planning for managing housing, environmental, and husbandry factors is essential for producing and preserving SPF animals. Comprehensive risk analysis and exclusion procedures based on an in-depth understanding of the pathogen lifecycle and modes of transmission are vital elements of successful programs. These SPF animals, like pigs, cattle, and poultry, can be used in producing pathogen-free dairy and meat and research activities.

This is a major market driver because, as the production and demand for pathogen-free meat products increase, so will the requirement for products like parasiticides to eliminate the harmful pathogens from these animals and produce a healthy and pathogen-free yield.

However, a major factor that could hamper market growth is the development of antiparasitic drug resistance among animals. In recent years, various research studies have started revealing the rise in antiparasitic drug resistance among animals. For instance, a March 2023 study by the University of Calgary revealed a consistent rise in drug resistance among gastrointestinal worms in the studied pet dogs. Until now, antiparasitic resistance wasn’t considered a major problem among companion animals. However, this growing resistance points towards the fact that in the near future, many routine drug treatments may be ineffective. Therefore, selective use of antiparasitic drugs and thorough research into revealing such instances in other animals is required to resist the negative impact of this factor on the market.

List of Key Players of Veterinary Parasiticides Market

• Zoetis
• Boehringer Ingelheim
• Merck & Co. Inc.
• Dechra Pharmaceuticals Plc.
• Elanco Animal Health
• Ceva Sante Animale
• Virbac
• Biogénesis Bagó
• Vetoquinol
• Himalaya Wellness

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Veterinary Parasiticides Market Report Highlights

• Based on animal type, the production animal segment held the dominant revenue share of 58.21% in in 2023. This growth can be attributed to increasing demand for animal products and the use of parasiticides in the prevention and treatment of parasitic infections among production animals.
• Based on product, the ectoparasiticides segment dominated the market with a revenue share of 48.81% in 2023. Ectoparasiticides are preferred over endectocides for treating external parasites like ticks, fleas, and lice due to their targeted action and cost-effectiveness. These products come in various formulations like sprays, powders, ointments, creams, and spot-on treatments. These multiple formulations give these products the advantage over others, as animal owners and veterinary professionals can easily choose the formulation that best suits the target animal.
• Based on the route of administration, the topical segment dominated market with a revenue share of over 40% in 2023. This can be attributable to the fact that this route of administration is primarily used to treat external parasites like ticks, fleas, and worms in animals through ectoparasiticides. The external application ensures that the parasiticides deal only with the external parasites on the animal's skin and fur and do not directly interact with other essential organisms in animals, minimizing the possible side effects.
• Based on the distribution channel, the hospital/clinic pharmacy segment dominated the market in 2023. This can be attributable to the availability of a wide variety of parasiticides in these settings. Various animals, such as horses, dogs, cats, and livestock, visit these hospitals/clinics to treat various diseases. After the consultation and diagnosis, the veterinarian can prescribe the required medications to the animal owners, which they can easily procure from the pharmacy present at the hospital or clinic.
• North America accounted for the largest revenue share in 2023 and is expected to grow at a significant CAGR from 2024 to 2030. This is attributed to the fact that the region is among the top meat-producing countries and has the highest pet adoption rate in the world. These factors contribute to the region's rise in demand for parasiticide products.
• The Asia Pacific (APAC) market is expected to grow at the fastest CAGR from 2024 to 2030 due to growing initiatives to spread awareness about the diagnosis and treatment of veterinary parasitic infections. Recognizing the growing disease burden of parasitic infections and their zoonoses, the World Organization of Animal Health (WOAH) is actively arranging awareness initiatives to prevent and control parasitic infection zoonoses.

Veterinary Parasiticides Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 10.19 billion
Revenue forecast in 2030	USD 16.63 billion
Growth rate	CAGR of 8.50% from 2024 to 2030
Actual data	2018 - 2023
Forecast period	2024 - 2030

 

Related Press Release@ Veterinary Parasiticides Industry

Veterinary Parasiticides Market Segmentation

Grand View Research has segmented the global veterinary parasiticides market based on the animal type, product, route of administration, distribution channel, and region:

Veterinary Parasiticides Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

• Production Animal
• • Cattle
  • Swine
  • Poultry
  • Others (sheep, goats, aquaculture, etc.)
• Companion Animal
• • Canine
  • Feline
  • Equine
  • Others (turtles, fish, rabbit, etc.)

Veterinary Parasiticides Product Outlook (Revenue, USD Million, 2018 - 2030)

• Ectoparasiticides
• Endoparasiticides
• Endectocides

Veterinary Parasiticides Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Oral
• Injectable
• Topical

Veterinary Parasiticides Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Retail
• E-Commerce
• Hospital/ Clinic Pharmacy
• Others (government campaigns, etc.)

Veterinary Parasiticides Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• • U.S.
  • Canada
  • Mexico
• Europe
• • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
• • Japan
  • India
  • China
  • South Korea
  • Australia
  • Thailand
• Latin America
• • Brazil
  • Argentina
• Middle East and Africa (MEA)
• • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

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