Animal Endectocides Market: Introduction
Endectocides is used in veterinary medicine to improve animal health. It is a type of insecticide, which has activity against ecto-parasites and endo-parasites. Avermectins is the best-known class among approved endectocides, which includes ivermectin and several analogs such as selamectin, eprinomectin, and moxidectin.
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Key Drivers and Opportunities of Global Animal Endectocides Market
Rise in awareness about animal health among people increases the adoption rate of pet animals. This in turn is projected to boost the growth of the global animal endectocides market. According to Petsecure 2019, pet ownership in the U.S. has more than tripled since the 1970s.
In the past, pets, particularly dogs, have found favor as a companion across the world. Over the years, pets have evolved from being a strange and wonderful distraction to an integral part of families. According to a survey conducted by the American Pet Products Association (APPA), the U.S. had approximately 90 million pet dogs in 2018.
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Increase in population of livestock animals such as cattle along with rise in number of dairy farms is anticipated to fuel the growth of the global market. According to Drishti: The Vision Foundation, the total livestock population was 535.78 million in India in 2019, an increase of 4.6% over livestock census 2012.
Rise in awareness about animal health, triggered by the increase in concerns over food-borne diseases caused by animals, is likely to boost the growth of the global market. Private organizations and governments in developing as well as emerging countries are engaged in spreading awareness about veterinary care, which is leading to increase in the level of control and care of animals. Moreover, changes in veterinary education in the last few decades placed greater emphasis on animal welfare, owing to greater awareness about animal health care.
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Government initiatives to improve health care infrastructure and rise in awareness about veterinary health in developing countries present lucrative opportunities in the global animal endectocides market.
North America to Capture Major Share of Global Animal Endectocides Market
North America is projected to account for major share of the global animal endectocides market due to rise in health care expenditure on animals and increase in awareness about veterinary health. For instance, the American Animal Hospital Association is a non-profit organization for companion animal veterinary hospitals. It is an accrediting body for small animal hospitals in the U.S. and Canada. According to the American Pet Products Association, estimated spending in the U.S. pet industry increased by 4.4% from 2017 to 2018 to reach US$ 72.56 Bn.
The animal endectocides market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period owing rise in awareness about veterinary health
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Key Players Operating in Global Animal Endectocides Market
The global animal endectocides treatment market is highly consolidated due to the presence of key players. A large number of manufacturers hold major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global animal endectocides market. For instance, in January 2017, Bayer AG acquired Cydectin endectocide portfolio to strengthen the antiparasitics business in the U.S. In November, Merck Animal Health received approval from the U.S. Food and Drug Administration for BRAVECTO PLUS. It contains moxidectin (an endectocide, which has systemic activity against a range of external and internal parasites) and fluralaner (an ectoparasiticide, which has systemic activity against ticks and fleas).
Major players operating in the global animal endectocides market are:
- Bayer AG
- Boehringer Ingelheim
- Merck Sharp & Dohme Corp. (Merck & Co., Inc.)
- Vetoquinol (Vetoquinol India Animal Health Pvt. Ltd.)
- Ourofino Animal Health
- Carus Laboratories Pvt. Ltd.
- Other Prominent Players
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