Increasing adoption of companion animals is expected to propel growth of the animal parasiticides market. For instance, according to 2017-2018 U.S. Pet Ownership & Demographics Sourcebook of American Veterinary Medical Foundation (AVMF), the number of rabbits per 1,000 households in the U.S increased from 1,408 in 2012 to 1, 534 in 2017-2018. Moreover, increasing production of chicken is also expected to aid in growth of the market. For instance, in the Philippines, the production of dressed chicken increased 40% during 2009-2018, as per the Philippine Statistics Authority.
Increasing expenditure on animal healthcare is expected to offer lucrative growth opportunities for players in the animal parasiticides market. For instance, according to 2017-2018 U.S. Pet Ownership & Demographics Sourcebook of American Veterinary Medical Foundation (AVMF), the veterinary expenditure per animal in the U.S. was US$ 227 in 2012, which increased to US$ 253 in 2017-2018. Moreover, increasing outbreak of strains of Salmonella is also expected to aid in growth of the market. For instance, according to the Centers for Disease Control and Prevention, in 2019, 1,134 people infected with the outbreak strains of Salmonella were reported from 49 states and the District of Columbia in the U.S. The disease was caused due to people coming in contact with backyard poultry.
Increasing demand for vegan food is expected to hinder growth of the animal parasiticides market. For instance, according to The Vegan Society, the number of people consuming only vegetarian food in the U.K. increased from 276,000 in 2016 to 600,000 in 2019.
Among regions, North America is expected to witness significant growth in the animal parasiticides market, owing to increasing consumption of meat in the U.S. For instance, according to research presented at the 2018 Chicken Marketing Summit, Florida, U.S., 86% of consumers during a two week survey in the U.S. ate a chicken meal or snack purchased from a supermarket and 68% ate a chicken meal or snack from a food service establishment.
Competitive Analysis
Major players operating in the animal parasiticides market include, Merial (Boehringer Ingelheim GmbH), Ceva Sante Animlae, Virbac SA, Vetoquinol S.A., Eli Lilly and Company, Zoetis Inc., Merck & Co Inc., Bayer AG, and Perrigo Co. plc.
Major players operating in the animal parasiticides market are focused on adopting M&A strategies to expand their product portfolio. For instance, in August 2020, Merck Animal Health, a division of Merck & Co., Inc., acquired the worldwide rights to VECOXAN (diclazuril), an oral suspension for the prevention of coccidiosis in calves and lambs, from Elanco Animal Health.
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