Veterinary parasiticides or antiparasitics are products that kill parasites that infest livestock, pets and other animals. These products actually consist of one or more active ingredients that perform specific actions against the paracites. The term parasiticide or antiparasitic is used both for finished products and for the active ingredients they contain, that are actually effective against the parasites.
The primary end users are the veterinary clinics, animal farms etc.
Market Dynamics:
The following factors are significant in deciding the fate of the market:
Market Drivers:
During the breeding practises in the farms or the transportation of the animals or even randomly, they get infected by dangerous pathogens and strains of influenza viruses. The growing meat consumption of animal meat like chicken and pork adds human beings to the exposure of these harmful pathogens, which could be really fatal at times. So veterinary checkups have become extremely important to reduce or prevent these.
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The acceptance of the pets as family members has encouraged the spending on their healthcare too. Owing to global awareness sometimes regular veterinary services are availed simply due to the deterrence of occurrence of diseases.
Drug regulations are much more lenient compared to the human scenario. As a result much fewer hurdles are faced for new drug, additives and medicine launches for the animals.
Market Restraints:
Rising costs of the researches, strict policies in some countries are the major hindrances in the market
Market Opportunities:
Market opportunities mainly lie in government incentives and advancements in biotechnology.
Market Segmentation:
The market can be segmented into the following categories:
On the basis of disease causing organisms:
Endoparasiticides
Gastrointestinal nematode
Heartworms
Lungworms
Ectoparasiticides
Fleas
Lice
Mites
On the basis of products:
Oral liquids
Tablets
Injectables
Sprays
Pour on
Collars
Ear tags
On the basis of animals:
Companion animals
Dogs
Cats
Horses
Others
Farm animals
Cattle
Swine
Poultry
Fish
Sheep
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On the basis of the geographic distribution of the markets:
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
Geographic Analysis:
North America is the current global leader in the market followed by the Asia Pacific and Europe. The Asia Pacific nations are the fastest growing market in this sector and are predicted to bypass the North America in the near future.
Key Players:
Some of the key players in the market are:
Bayer Healthcare
BoehringerIngelheim
Ceva Animal Health, Inc.
Elanco
Merck
Merial (Animal Health Division of Sanofi)
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