The global “Ectoparasiticides” market size is anticipated to grow owing to increasing awareness for animal safety in several economies. This information is published by Fortune Business Insights, in its upcoming report, titled “Ectoparasiticides Market Size, Share & Industry Analysis, By Product (Pour-on, Spot-on, Sprays, Dips, Oral tablets, Others), By Animal (Livestock, Companion), By End User (Veterinary Clinics, R & D Facilities, Farms, Others) and Regional Forecast, 2019-2026.”
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An ectoparasiticides is generally an antiparasitic drug usually for treating ectoparasitic infections in animals. This drugs are primarily beneficial to eliminate the parasites living on the animal skin. Well-known ectoparasiticides include permethrin, sulfur, lindane, crotamiton, and others. Parasites such as ticks, fleas, mites, lice, among others which severely affect the health of animals need to be treated to ensure safety and well-being of the infected animals. If untreated, these parasites result in severe complications such as failure of nervous system, and in some cases can even result in death of the animal. Rising awareness for the safety of animals is expected to drive the demand for the market in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market:
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What does the Report Include?
The ectoparasiticides market report offers a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. In addition to this, the report includes information sourced from advice of expert professionals from the industry by our research analyst using several research methodologies. Moreover, it contains an exhaustive study of the landscape comprising of key players, strategies used by them, and recent product launches for the market growth between 2019 and 2026.
Drivers and Restraints:
Government Initiatives to Prevent Zoonotic Diseases Will Aid Growth
According to statistics from Pet Secure, half of the Americans have a pet dog or a cat in their household. With growing number of pets in the household, there is a possibility of rise in zoonotic diseases which can be transmitted to human from the animals. For instance, in March 2020, the state of Kerala, India, registered a case of Kyasanur Forest Disease (KFD), that has already claimed a life this year. The disease can be transmitted to human after a tick bite or when in contact with an infected animal. Animals such as rats, monkeys, bats, shrews are the most susceptible to the virus. Several government initiatives to prevent the spread of diseases is expected to bode well for the growth of the market in the forthcoming years.
However, increasing cost of animal healthcare may restrict the growth of the market to some extent during the projected horizon.
Increasing R&D Activities Will Lead to Market Dominance by Europe
Among the regions, Europe will witness substantial growth and will be at the forefront during the forecast period. This is attributable to factors such as increasing R&D activities for development of ectoparasiticides and high animal adoption rates for animal husbandry and farming activities. The market in North America, is expected to be the second-most leading region owing to rising pet adoption and increasing prevalence of animal diseases. Additionally, growing expenditure for animal healthcare, increasing demand for meat, and presence of large pool of veterinarians will positively impact the growth of the market in this region during the projected horizon.
Asia-Pacific, on the other hand, is anticipated to witness fast growth considering large animal livestock, and government initiatives to promote animal welfare. Rising awareness regarding animal health is likely to drive the growth of the market in Latin America between 2019 and 2026.
FDA’s Approval of Bravecto Plus Will Boost Demand
In November 2019, the U.S. Food and Drug Administration (FDA), approved the production of Bravecto Plus, a ectoparasiticides medication to treat parasites found in felines for up to 2 months. The product that is manufactured by Merck Animal Health, is expected to be available at stores in coming months. The medication works on eliminating five of the main parasites, such as ticks, heartworms, roundworms, fleas, and hookworms, that affect cats. Adoption of strategies such as product launches, and mergers and acquisitions by companies to gain stronghold for the ectoparasiticides market revenue will boost demand during the forecast period.
- November 2018: Zoetis, a leading animal health company, receives FDA approval for its Revolution Plus. The drug is a combination of selamectin and sarolaner topical solution useful for treating several types of parasites affecting the animal health.
- January 2018: Elanco, a division of Eli Lily AND Company, receives a nod of approval from FDA for its antidrug, Credelio. This antidrug is very effective as it kills fleas in the first 4 hours of its application, and kills about 99% parasites within 8 hours for the period of over 35 days.
List of Companies Proliferating in the Market:
- Bayer AG
- Boehringer Ingelheim International GmbH
- Vetoquinol S.A.
- Among others..
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