The Business Research Company’s Veterinary Parasiticides Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON , UK, July 15, 2021 /EINPresswire.com/ — 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.
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.
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The global veterinary parasiticides market is expected to grow from $4.48 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%.
Major players in the 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 segmented by type into endoparasiticides, ectoparasiticides, endectocides, by end users into R&D facilities, farms, veterinary clinics, by product into oral liquids, tablets, injectables, sprays, others, and by application into farm animals, companion animals.
Veterinary Parasiticides Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides veterinary parasiticides market overview, forecast veterinary parasiticides market size and growth for the whole market, veterinary parasiticides market segments, and geographies, veterinary parasiticides market trends, veterinary parasiticides market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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