India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides Market Insight 2030
The India, Bangladesh, Sri Lanka, Nepal pet parasiticides market size was valued at $14,772.23 thousand in 2020, and is projected to reach $23,944.89 thousand by 2030, registering a CAGR of 4.9% from 2021 to 2030. Parasiticide products are commonly used in small animal medicine to prevent and treat various parasites, including fleas, ticks and worms.
Animal health and welfare problems, human health risks from companion animals and other associated zoonotic threats are considered a major issue in countries like India and Sri Lanka. With more people owning pets, and many of them being regularly treated for parasites, the volume of products being used has increased. In the farm animals such as dogs and cats, there are concerns over high levels of resistance to parasiticide products as a result of misuse and overuse. Ectoparasiticides such as deltamethrin-impregnated dog collars or spot-on repellants that contain permethrin can prevent canine parasites. Anti-flea and anti-tick collar contain extracts of Margosa and Lavandin, which are known for their repellent properties.
The growth of the India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides market is driven by increase in the population of companion animals like dogs and cats, increase in the prevalence of parasitic diseases, and increase in the number of veterinary hospitals and clinics. Moreover, surge in pet dogs and cats ownership and rise in investments by private players for pet parasiticides also contributes in the growth of the market. In addition, rapid developments in parasiticides products technology and rise in veterinary health awareness, supplement the market growth. However, strict consent process for pet parasiticides and regulations restricting the use of parasiticides restrains the growth of the India, Bangladesh, Sri Lanka, Nepal pet parasiticides market. Conversely, rise in awareness related to parasitic diseases in dogs and cats is anticipated to create lucrative opportunities in the near future.
What is the Impact of COVID-19 Pandemic on the India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides Market?
Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. The parasiticides manufacture was disturbed in 2020, due to the slowdown of distribution chain of raw material.
The manpower needed for the manufacturing plants were at home due to quarantine or lockdown, which led to shut down of the manufacturing plants of the pet parasiticides. Overall impact of the COVID-19 pandemic on the India, Bangladesh, Sri Lanka, Nepal pet parasiticides market was recorded to be negative, owing to the factors such as disturbance in the distribution chain, financial problems, scarcity of labor at manufacturing plants and increase in the demand and supply gap of the parasiticides. However, this situation is expected to change post COVID-19 pandemic in the coming years.
The India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides market is segmented on the basis of product, animal type, end user, and country. On the basis of product, the market is categorized into ectoparasiticide, endoparasiticide and endectocide. Ectoparasiticide is further segmented into pour-on and spot-on, oral tablet, sprays, dips, ear tags, collars, other ectoparasiticides. Endoparasiticides are further segmented as oral liquids, oral solids, injectables and feed additives. By animal type, it is classified into dogs and cats. By end user, it is classified into veterinary hospital and clinics, animal farms and home care setting. Country wise, the market is analyzed across India, Bangladesh, Sri Lanka, and Nepal.
Product Segment Review
By product, the market is segregated into ectoparasiticide, endoparasiticide and endectocide. Ectoparasiticide is further segmented into pour-on and spot-on, oral tablet, sprays, dips, ear tags, collars, other ectoparasiticides. Endoparasiticides are further segmented as oral liquids, oral solids, injectables and feed additives. The ectoparasiticides generated the highest revenue in 2020. This is attributed to increase in focus on the development of parasiticides. Major factors that influenced the market growth include rise in prevalence of parasitic diseases in dogs and cats, and rise in investments by parasiticides manufacturers. In addition, rise in dogs and cats population and surge in demand for use of ectoparasiticides, have further influenced companies to focus on the development of pet parasiticides.
By Product
Ectoparasiticides segment is projected as one of the most lucrative segment.
Animal Type Segment Review
By animal type, the market is segregated into dogs and cats. The dogs segment garnered the highest revenue in 2020. Major factors that influenced the market growth include rise in demand for dog parasiticides, increase in number of dog owners, rise in population of the dogs, and increase in the prevalence of diseases that require parasiticides for the treatment.
By Animal Type
Dogs segment held a dominant position in 2020 and will continue to maintain the lead over the forecast period.
End User Segment Review
By end user, the market is segregated into veterinary hospital and clinics, animal farms and home care setting. The veterinary hospital and clinics segment dominated the market in 2020 and is anticipated to continue this trend during the forecast period. This was attributed to the fact that veterinary hospital and clinics are increasingly showing an inclination toward pet parasiticides usage. Moreover, surge in number of companion animals like dogs, rise in number of visits of pet owners in the hospitals and increased government initiatives to ensure high degree parasitic disease treatment measures, and surge in number of veterinary hospital and clinics with increased use of parasiticides boost the growth of the hospitals segment.
By End User
Veterinary Hospitals and Clinics segment held a dominant position in 2020 and will continue to maintain the lead over the forecast period.
Country Segment Review
India accounted for a major share in the India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides market, owing to increase in well-developed healthcare industry, presence of leading manufacturers in the country, and high adoption rate of parasiticides in this India. Moreover, India is also projected to register the fastest growth during the forecast period, owing to increase in number of pet owners, rise in prevalence of parasitic diseases, and improving veterinary healthcare infrastructure in India.
By Country
India would exhibit the highest CAGR of 5.1% during 2020-2030.
Key Benefits for Stakeholders
- This report provides a detailed quantitative analysis of the current India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides market trends and forecast estimations from 2020 to 2030, which assists to identify the prevailing market opportunities.
- An in-depth India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
- A comprehensive analysis of factors that drive and restrain the growth of the India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides market is provided.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030, in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides market are profiled in this report and their strategies are analyzed thoroughly, which help in understanding competitive outlook of the market.
India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides Market Report Highlights
| Aspects | Details |
 By Product |
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 By Animal Type |
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 By End User |
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 By COUNTRY |
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 Key Market Players | Virbac, Bremer Lanka Pvt Ltd., Hayleys Animal Health, Vetoquinol S.A., Lutim Pharma Private Limited, Cadila Healthcare Ltd, Elanco Animal Health Inc., MERCK & CO., INC.(Merck Animal Health), Zoetis Inc., C. H. Boehringer Sohn AG & Co. KG (Boehringer Ingelheim International GmbH) |
Analyst Review
Flea and tick infestation is a major health problem in dogs and cats, and control presents an economic burden to their owners. It is treated with the drugs called parasiticides. Pet parasiticides or antiparasitics are products that kill parasites that infest, pets and other companion animals. All parasiticidal finished products consist one or more active ingredients that have the specific efficacy against parasites.
The factors such as India, Bangladesh, Sri Lanka, Nepal Pet Parasiticides market are surge in incidences of parasite diseases, improved veterinary healthcare infrastructure, increase in public awareness to prevent parasite diseases, and surge in population of dogs and cats are expected to drive the growth of the market. In addition, increase in demand for parasiticides, presence of major players of pet parasiticides in these countries, favorable government initiatives regarding veterinary health and hygiene are expected to drive the growth of the India, Bangladesh, Sri Lanka, Nepal pet parasiticides market.
The total market value of India, Bangladesh, Sri Lanka, Nepal pet parasiticides market is $23,944.89 thousand in 2030.
Top companies such as Zoetis Inc., Cadila Healthcare Ltd, MERCK & CO., INC.(Merck Animal Health), Virbac, Elanco Animal Health Inc., Vetoquinol S.A. held a high market position in 2020. These key players held a high market postion owing to the strong geographical foothold in India, Bangladesh, Sri Lanka, Nepal.
Ectoparasiticides segment is the most influencing segment owing to the increasing prevalence of parasitic diseases, increasing the incidences of zoonotic diseases, increasing demand of pet parasiticides.
The forcast period for India, Bangladesh, Sri Lanka, Nepal pet parasiticides market is 2020 to 2030
The market value of India, Bangladesh, Sri Lanka, Nepal pet parasiticides market in 2020 is $14,772.23 thousand.
The base year is 2020 in India, Bangladesh, Sri Lanka, Nepal pet parasiticides market
Increasing population of the dogs, increasing number of pet onwers, increase in number of veterinary hospitals and clinics and rise in use of parasiticides in hospitals are the key trends in the India, Bangladesh, Sri Lanka, Nepal pet parasiticides market report.
India has the highest growth rate of 5.1% in the market which is growing due to increase in the prevalence of parasitic diseases in India, presence of market players in India.
Yes, the India, Bangladesh, Sri Lanka, Nepal pet parasiticides market companies are profiled in the report.
Yes, the India, Bangladesh, Sri Lanka, Nepal pet parasiticides market report provides PORTER Analysis
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