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Veterinary Parasiticides Global Market Report 2021: COVID 19 Impact and Recovery to 2030

ReportLinker
·4-min read

Major players in the veterinary parasiticides market are Bayer AG (Germany), Zoetis (U. S. ), Boehringer Ingelheim (Germany), Merck (U. S. ) and Eli Lilly and Company (U. S. ). The global veterinary parasiticides market is expected to grow from $4.

New York, May 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Parasiticides Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067878/?utm_source=GNW
48 billion in 2020 to $4.98 billion in 2021 at a compound annual growth rate (CAGR) of 11.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.63 billion in 2025 at a CAGR of 7.4%.

The veterinary parasiticides market consists of sales of veterinary parasiticides and related services which are used in the treatment of parasitic diseases in livestock, pets, and other animals.Veterinary parasiticides industry includes establishments that produce a cure to parasitic diseases that can be caused by helminths, amoeba, ectoparasites, parasitic fungi, and protozoa.

The veterinary parasiticides are chemical substances that destroy or inhibit micro-organisms or parasites and improves the animals’ health.

The veterinary parasiticides market is regulated by government agencies such as European Medicines Agency (EMA), USFDA (the US food and drug ministration), and others.For instance, under the directive 2008/97/EC of the European Parliament certain products/drugs which contain substances having a hormonal or thyrostatic action and beta agonists are banned.

Meat or products from food producing animals which have an oestrogenic, androgenic or gestagenic action or beta-agonists are prohibited for human consumption unless those animals have been treated with veterinary medicines complying with the requirements of Article 6 of Council Directive 96/22/EC.

Lack of awareness about animal diseases due to limited information on microbes and their impact on wildlife and livestock disease restrains the veterinary parasiticides industry.Lack of awareness about the occurrence of zoonotic diseases and their impact on public health is a major hurdle for the animal parasiticides market.

This lack of awareness does not allow people to adopt the parasiticides for livestock/wildlife which not only control different parasitic diseases but also improve animal health.For instance, Proceedings of the National Academy of Sciences (PNAS) reported that only ten diseases account for around 50% of all published knowledge on diseases at the wildlife-livestock interface and the analysis was based on almost 16,000 publications from last century.

The lack of knowledge and awareness will restrain the growth of the market.

The animals are increasingly being affected by zoonotic pathogens which are the leading cause for foodborne diseases worldwide.Zoonotic diseases are infectious diseases caused by bacteria, viruses and parasites, especially Salmonella and Campylobacter, which can be transmitted directly or indirectly between animals and humans.

These diseases get passed through the food chain to humans which is a potential threat and creating a dire need to prevent such diseases among animals.. , According to the FDA in 2020, about 128,000 hospitalizations and 3,000 deaths were reported in America due to foodborne illness. The necessity to curb these infections in animals drives the market for veterinary parasiticides.

Chewable tablets are being used to prevent animals from being affected by ticks, worms, fleas and others.Treatments with these tablets are easier to administer.

The chewable tablets are available in either a beef-flavored tablet or soft chew.For instance, the IVERHART MAX chewable tablets protect dogs from the 4 most common worms: heartworms (infection caused by bite of an infected mosquito), roundworms, hookworms (affects the intestines) and tapeworms (caused by ingesting an infected flea).

Such advances in technology are significantly driving the veterinary parasiticides industry.
Read the full report: https://www.reportlinker.com/p06067878/?utm_source=GNW

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