The global livestock parasiticides market garnered $2.6 billion in 2021, and is estimated to generate $4.9 billion by 2031, manifesting a CAGR of 6.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.6 billion |
| Market Size in 2031 | $4.9 billion |
| CAGR | 6.7% |
| No. of Pages in Report | 290 |
| Segments covered | Type, Livestock, End User, and Region. |
| Drivers | Rise in demand for meat and meat food products |
| Increase in investments by private players | |
| Growth in concerns for zoonotic diseases | |
| Regulations for preventing the spread of animal diseases | |
| Opportunities | Lucrative opportunities in emerging markets |
| Stringent regulatory approval process for drugs | |
| Restraints | Regulations restricting the use of parasiticides for food producing animals |
| Shift toward vegetarianism |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global livestock parasiticides market, owing to significant decline in the demand for animal health products during the lockdown.
- In 2020, some of the leading players in the animal health business around the world witnessed a revenue decline, owing to decrease in demand for animal business, primarily in clinical administrator pharmaceuticals.
- However, in 2021, rise in concern about pet health and increase in adoption of pets during the pandemic ultimately led to the increase in demand for livestock parasiticides. Also, the increasing demand for home healthcare is making a positive impact on the growth of the global livestock parasiticides market.
The research provides detailed segmentation of the global livestock parasiticides market based on Type, Livestock, End User, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the ectoparasiticide segment held the highest share in 2021, accounting for nearly half of the global livestock parasiticides market, and is expected to continue its leadership status during the forecast period. However, the endectocides segment is expected to register the highest CAGR of 7.7% from 2022 to 2031.
Based on livestock, the cattle segment accounted for the highest share in 2021, contributing to more than one-thirds of the global livestock parasiticides market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the poultry segment is expected to manifest the highest CAGR of 8.3% from 2022 to 2031.
Based on end user, the veterinary clinics and hospital segment accounted for the highest share in 2021, holding around two-thirds of the global livestock parasiticides market, and is expected to continue its leadership status during the forecast period. However, the animal farms segment is estimated to grow at the highest CAGR of 7.6% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to around two-fifths of the total livestock parasiticides market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 7.7% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading market players of the global livestock parasiticides market analyzed in the research include Elanco, C.H. Boehringer Sohn AG & Co. KG., Zoetis, Merck & Co., Inc., Virbac, Vetoquinol, PETIQ, LLC, SeQuent, Krka, ECO Animal Health Ltd, Ceva, Chanelle Pharma, Bimeda, Inc., Norbrook, Kyoritsuseiyaku.
The report provides a detailed analysis of these key players of the global livestock parasiticides market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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