Published on : May 10, 2016
Animal parasiticides refer to numerous formulations utilized for getting rid of parasites within both livestock and companion animals. The parasites on animals impose distress on the animal and may also lead in outbreaks of zoonotic diseases, making it necessary to utilize parasiticides. The kind of parasiticides to be utilized varies as per the parasite and this is why a broad range of parasiticides have been manufactured.
There are a number of factors driving the growth of the market for animal parasiticides. Some of these have been elaborated as follows:
- Rising Demand for Animal Products: The rising demand for animal-derived products such as milk and milk-products is a key factor fuelling the growth of the market. In addition, numerous meat products have been a staple in the dietary intake of human beings since centuries and will continue being the most extensively consumed products globally. This in turn has resulted in keeping the production animals in healthy conditions owing to the fact that any kind of diseases in animals may impact the quality of products obtained from these animals.
- Mandatory Government Regulations: The increasing concern on zoonotic diseases, for instance the outbreak of the mad cow disease within North America, has led in a number of private players taking part in funding research for animal parasiticides. In addition¸ governments in various nations have mandated the utilization of preventive measures to ward off zoonotic diseases in animals. Thus, the market has received both financial and regulatory support, having a positive impact on the overall growth of the market.
- Increasing Adoption of Companion Animals: In addition to the production animals, there has been an increased demand for companion animals globally. This has resulted in the increased utilization of animal parasiticides. People are expending generously on their pets especially in the regions such as that of Europe and North America and thus do not mind spending money on costly animal parasiticides. Hence, this will further boost the market for animal parasiticides owing to the fact that the parasite-borne disease prevention also forms an integral part of the overall pet care.
Thus, the market for animal parasiticides is poised to rise by leaps and bounds in the coming years. However, the increasing preference for vegetarian diets and the increasing variety of animal parasites have emerged as the major factors that may inhibit the growth of the overall market