By 2026, the demand for parasites in animals will surge 5.7%

Fact.MR’s latest survey of the animal parasite agent market covers the latest developments in market segments in terms of products and species in seven regions. The report also revealed convincing insights into the trends, driving factors, threats and constraints affecting market sales during the forecast period.

Fact.MR-a market research and competitive intelligence provider: According to a market survey by Fact.MR, sales of animal parasiticides are expected to increase steadily by 5.9% between 2020 and 2026. The emergence of new diseases and transmission patterns in livestock and pets indicates the need for effective solutions, which in turn promotes the sale of animal parasite agents.

Increasing emphasis on improving the food safety of animal-derived products is expected to promote the development of the animal parasite agent market. The increasing consumption of meat, milk and eggs by households and the food and beverage industry is stimulating the demand for high-quality and nutritious ingredients in such products. This forces farmers to work hard to improve the safety and well-being of farm animals, thereby increasing sales.

In addition, diseases caused by endoparasites are fatal to farms and companion animals. If transferred to humans, they can cause serious gastrointestinal and skin infections. As people’s awareness of such diseases continues to increase, the demand for animal parasite agents is expected to increase in the next few years.

On the other hand, strict regulations on the withdrawal time for food animals may restrict the use of animal parasiticides. For example, the National Organic Plan prohibits the use of pesticides on all organically slaughtered animals.

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In response, players are increasing their efforts to improve the quality of medicines and vaccines. The company is investing in research and development to develop new drugs, vaccines, diagnostic products and genetic testing tools to provide consumers with effective drugs without any side effects. It is expected that this will continue to promote market growth in the next few years.

"Increased investment in adjuvant technologies used to improve vaccine effectiveness, such as SPEREON technology, is expected to drive market sales. In addition, the surge in demand for companion animal worm control measures will continue to drive market growth," Fact.MR The analyst said.

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Leading companies operating in the global animal parasite drug market are focusing on research and development in collaboration with medical research institutions to improve their product portfolio. In addition, participants are investing in mergers, acquisitions, cooperation and partnerships to gain a competitive advantage in the market.

For example, in February 2020, Zoetis Inc. received FDA approval for a new combination of dog parasite prevention drugs called Simparica TrioTM. This new medicine is the first to provide all-in-one protection against heartworm disease, fleas, ticks and roundworms in a monthly chewable tablet.

The main players in the animal parasite agent market include:

More valuable insights on the animal parasite agent market

Fact.MR provides a fair analysis of the animal parasite agent market, historical demand data (2016-2019) and forecast statistics for the period 2020-2026. The study revealed compelling insights into the global animal parasite agent market, and detailed breakdowns based on the following:

Key issues covered in the animal parasite agent market report

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