(PharmaNewsWire.Com, September 04, 2017 ) The Europe Animal Parasiticides Market was worth USD 2.33 billion in 2016 and estimated to be growing at a CAGR of 5.8%, to reach USD 3.08 billion by 2021. The market shows substantial potential during the forecasting period. It continues to expand with the gradual increase in awareness about animal health.
Animal parasiticides are the medicines for animals that destroy all the parasites other than fungi and bacteria present on animals. They are normally non-reactive substances which are mixed with each other and may contain many different ingredients. Most ingredients of parasiticidal nature have same kind of chemical structures and have some common characteristics. Many a times, they are segmented according to chemical families. The animal parasiticides are considered very important for protection of animals from parasitic diseases.
Growing expenditure on healthcare of animal and increasing adoption of pet animals are the factors responsible for growth of Europe Animal Parasiticides market. Also, the growing concern for meat quality as well as other animal products has led to the development of animal healthcare sector. However, increased acceptance of vegetarian lifestyle combined with strict restrictions on the approval for animal parasiticides are the hindering the growth of Europe animal parasiticides market.
The Europe Animal Parasiticides Market[CI1] is segmented on the basis of Product into Ectoparasiticides and Endoparasiticides. The ectoparasiticides cover Pour-ons, Sprays, Dips, Ear Tags, Collars and Tablets whereas the endoparasiticides cover Edible Liquids, Edible Solids, Injectable and Feed Additives. Further on the basis of Animal type the animal parasiticides are segmented into Food-producing Animals and Companion Animals. The food-producing animals are classified into Cattle, Sheep and Goats, Pigs, Poultry and others. The Companion animals are segmented as Dogs, Cats, Horses and others.
On the basis of geography, the Europe market is analysed under various regions namely Italy, Germany, U.K, France and the remaining of Europe. The Western Europe had a very large revenue generation in Animal Parasiticide market as of 2016. The people in this region are highly aware about animal healthcare and this is expected to be responsible for the growth of market in future years to come.
Some of the major companies that are coming up with innovative products in the animal parasiticides market to remove the traces of foodborne diseases are Sanofi S.A. (Merial), Ceva Sante Animlae, Virbac SA, Vetoquinol S.A., Eli Lilly and Company, Zoetis Inc., Merck & Co Inc., Bayer AG, Boehringer Ingelheim GmbH and Perrigo Co. plc.
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