Animal Parasiticides Market Future Challenges and Industry Growth Outlook 2032

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Animal Parasiticides Market Future Challenges and
Industry Growth Outlook 2032
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• Industry Insights

• Animal Parasiticides Market is projected to
  exhibit decent growth between 2023 and 2032,
  driven by the high demand for animal protein in
  human food.
• Food acts as an important medium to transmit
  food-borne pathogens.
• The increasing consumption of animal-derived food
  products and the rising prevalence of food-borne
  and zoonotic diseases have accentuated the usage
  of animal parasiticides to reduce the risk
  factors associated with these diseases.
• Moreover, a noticeable rise in the pet population
  worldwide has presented several growth
  opportunities to industry participants. To cite
  an instance, Merck Animal Health, an animal
  healthcare company, announced the approval from
  the Australian Pesticides and Veterinary
  Medicines Authority for a novel injectable
  formulation of BRAVECTO (fluralaner) for
  treating and preventing flea infestations,
  control of paralysis ticks, control of brown dog
  ticks, and control of flea allergy dermatitis.

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• The animal parasiticides market is segmented by
  animal product, end-use, and region.
• Based on product, the animal parasiticides market
  from the endectocides segment is projected to
  witness more than 5.5 CAGR from 2023 to 2032.
• The rising usage of endectocides in peridomestic
  cattle and other livestock animals can
  drastically decrease the number of zoophagic
  parasites, thereby contributing to product sales.
  Furthermore, utilization of livestock-administered
  endectocides has been analyzed as a feasible and
  acceptable technique for controlling
  animal-feeding malaria vector species throughout
  African countries, which is anticipated to boost
  product demand over the next ten years.
• Regarding the end-use, the animal parasiticides
  market from the veterinary hospitals and clinics
  segment is expected to amass significant revenue
  share by 2032. The increased use of animal
  parasiticides in healthcare facilities and the
  surging incidences of parasitic infections will
  promote industry growth.
• Moreover, the rising concerns about animal health
  in developing nations is one of the key factors
  contributing to the segment growth over 2023-2032.

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• Regional Analysis

• From a regional perspective, Europe animal
  parasiticides market is expected to surpass USD 5
  billion by 2032, owing to the high RD spending
  and the growing awareness about animal health.
  Additionally, the ongoing development of advanced
  veterinary healthcare infrastructure and the
  rising adoption of pet insurance are expected to
  foster regional industry growth.

• Competitive Analysis

• Leading companies operating in this business
  include Zoetis Inc., Merck Co., Inc., Elanco
  Animal Health Incorporated, Boehringer Ingelheim
  International GmbH, Ceva Sante Animale, Virbac,
  Vetoquinol S.A., PetIQ, LLC., Norbrook, Bimeda,
  Inc.

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