Elanco Animal Health Incorporated (US), a market leader in the animal health sector, saw a decline of 32.4 percent in Q2 2020. This decline was attributed to a decline in demand in the companion animal sector, especially for clinically administered pharmaceuticals, where social distancing policies led to fewer veterinary visits and increased working capital along the parasiticides value chain.
Global Animal Parasiticide Market was valued at USD 9.4 Billion in 2021, and it is expected to reach USD 16.89 Billion by 2029, exhibiting a CAGR of 7.6% during the forecast period (2022-2029)
Global Animal Parasiticide Market Overview:
The Global Animal Parasiticide market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Global Animal Parasiticide Market, as well as the causes for variances in the industry’s growth across a variety of sectors.
Global Animal Parasiticide Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
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Key Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Global Animal Parasiticide market are as follows:
• Zoetis Inc.
• Virbac
• PetIQ, Inc.
• Norbrook
• Vetoquinol S.A.
• Merck & Co., Inc.
• Ceva Santé Animale
• Bimeda Animal Health
• Boehringer Ingelheim GmbH
• Elanco Animal Health Incorporated
• Sanofi S.A. (Merial)
• Virbac SA
• Eli Lilly and Company
• Bayer AG
• Perrigo Co. plc
Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Global Animal Parasiticide market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
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COVID-19 Impact Analysis on Global Animal Parasiticide Market:
End-user industries where Global Animal Parasiticide are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Global Animal Parasiticide manufacturers, harming the Global Animal Parasiticide market’s growth in 2020. End-user business demand for Global Animal Parasiticide has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.
Key Questions Answered in the Global Animal Parasiticide Market Report are:
- In 2021, which segment accounted for the most share of the Global Animal Parasiticide market?
- What is the competitive landscape of the Global Animal Parasiticide market?
- What are the key factors influencing Global Animal Parasiticide market growth?
- In the Global Animal Parasiticide market, which region has the most market share?
- What will be the CAGR of the Global Animal Parasiticide market during the forecast period (2022-2027)?
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