Animal Parasiticides Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Endoparasticides, Ectoparasiticides, Endectocides), By Livestock (Swine, Poultry, Ovine, Bovine, Equine, Canine, Feline), By Form (Sprays, Oral Liquids, Solids, Injectable, Others), and Region

Animal Parasiticides Market size was valued at US$ 7,527.5 million in 2023 and is anticipated to grow at a CAGR of 7.4% over 2024-2030. Animal parasiticides are substances or products used to control or eliminate parasites that infest animals. Parasites can include various types of organisms, such as ticks, fleas, lice, mites, worms, and other insects. These parasites can cause a range of health issues in animals, including discomfort, skin irritation, anemia, and even more severe diseases. Animal parasiticides are essential for maintaining the health and well-being of pets, livestock, and other animals. They come in various forms, including topical treatments, oral medications, collars, sprays, shampoos, and more. The prevalence of parasitic infections profoundly shapes the animal parasiticides market, driving demand for effective solutions to address these pervasive health issues. As animals, whether pets or livestock, suffer from discomfort, reduced productivity, and even zoonotic disease risks, the need for reliable parasiticide products intensifies. The economic impact on livestock production, combined with the imperative to ensure animal well-being, fuels the demand for animal parasiticides.

Moreover, pet ownership and the growing trend of humanizing pets significantly drive the sales of animal parasiticides. As pets increasingly become integral members of families, there's a heightened emphasis on their health and well-being. Pet owners are willing to invest in products that ensure their furry companions' comfort and longevity. The human-animal bond prompts regular veterinary visits and a desire for preventive care, including protection against parasites. This emotional connection amplifies the demand for high-quality parasiticide products to safeguard pets from the discomfort, health risks, and aesthetic concerns posed by parasites. However, stringent regulations and lengthy approval processes for new parasiticide products can slow down innovation and limit the introduction of novel solutions. Meeting regulatory requirements for safety and efficacy adds complexity and time to product development and launch, which significantly impedes market growth. Meanwhile, rising consumer awareness of the adverse effects of parasitic infections on animals further creates growth opportunities for the animal parasiticides market. key developers are constantly developing innovative solutions to cater to the rising demand from consumers. For instance, in June 2021, Elanco launched the new CredelioTM Plus, offering vets a parasite treatment for every lifestyle.

Animal Parasiticides Market Key Developments:       

• In May 2020, Merck Animal Health signed an agreement to acquire the U.S. rights to SENTINEL FLAVOR TABS and SENTINEL SPECTRUM brand of Combination Parasiticides for Companion Animals.
• In August 2020, MSD Animal Health acquired the worldwide rights to VECOXAN brand of parasiticides for the ruminant portfolio to broaden its animal health position with enhanced parasite protection in calves and lambs.