Animal parasiticides or antiparasitics are chemical substances used to eradicate parasites that infect livestock, pets, and other animals and subsequently improve animal health. Most parasiticides finished products consist of one or more active ingredients that help carry out a specific action against particular parasites. Parasiticides also comprise inert ingredients (water and alcohol) called as solvents (stabilizers, preservatives, emulgants, etc.). Animal parasiticides market size is expected to grow at a significant rate owing to increased pet adoption worldwide.
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Global Animal Parasiticides Market Taxonomy
The global animal parasiticides market outlook can be classified on the basis of type of parasiticides, animal type, and end user. There are five types of parasiticides, namely ectoparasiticides, endoparasiticides, endectocides, anthelmintic, and anti-protozoans. Parasiticides used for killing external parasites in animals such as fleas, ticks, lice, fleas, and mites are termed as ectoparasiticides. Most ectoparasiticides are called pesticides, as these chemicals are also used for agriculture and hygiene purpose. Likewise, endoparasiticides are utilized to kill internal parasite such as flukes, roundworms, and tapeworms in animals. Most endoparasiticides are termed as veterinary medicines, as the active ingredients of the products are not used for agriculture and hygiene purpose. Endectocides or macrocyclic lactones are effective in both internal and external parasites. They are either natural products or chemically-modified derivatives that show strong parasiticidal efficacy in animals. On the basis of their chemical structure, endectocides are segmented into avermectins and milbemycins. Parasiticides are available in various formulations namely, liquids, tablets, injectables, sprays, spot-on, and pour-on.
Animal Parasiticides Market Trends
Key driving factors for the growth of the global animal parasiticides market include increasing awareness about animal zoonotic disease, rising number of animal population especially in developing nations of the world, increasing demand for animal-based food and animal proteins, and increasing animal research activities. Furthermore, increasing expenditure on animal health and government initiatives to protect animal health is fueling demand for animal parasiticides. However, high cost of R&D activities, new species of parasites, stringent regulatory policies for approval of animal parasiticides, and high cost of animal parasiticide products is hindering growth of the animal parasiticides market.
There has been various consolidation activities in the global animal health industry. In just one year, 2016, Boehringer Ingelheim acquired Sanofi’s animal health business, Novartis sold its animal health business to Eli Lilly and Merck Animal Health (subsidiary of Merck & Co.) acquired Vallee—a leading animal health product manufacturer based in Brazil. Some of the major market players operating in the global animal parasiticides market include Boehringer Ingelheim, Bayer Ag, Eli Lilly And Company, Ceva Sante Animale, Novartis Ag, Merck & Co., Inc., Zoetis, Inc., Virbac Sa, and Merial.