The chemical materials which are used to eliminate or kill the animal health-affecting parasites are called animal parasiticides or antiparasitics. These parasiticides target the infectious parasites by destroying them or inhibiting their growth.
Parasites are organisms that survive by attacking pets and farm animals for nourishment. They live in or on the body, benefiting from food and protection, while the unfortunate host animal suffers. External parasites, such as ticks, can then transfer disease from animals to people. However, a combination of watchful management of animals and targeted medicines can control parasites before these organisms cause serious harm.
The Factors Propelling the Growth of the Market
Rising demand for pet animals is one of the key factors driving the animal parasiticide market . The key animal parasiticide market drivers include the rise in demand for pet animals and animal protein food across the globe. As these parasiticides are capable of enhancing the health of pet animals, they are preferred significantly. Moreover, the growth is attributed to the increase in the occurrence of parasite infections and diseases among the livestock, pet animals and other animals, which in turn is enhancing the demand for animal parasiticides during the forecast period. Furthermore, rising awareness about the health of pet animals and livestock will further increase the adoption of animal parasiticides. Significant rise in demand for animal food protein products are further expected to enhance the product sales.
The animal parasiticide market players which are making a difference are Sanofi, Zoetis Inc., Eli Lilly, Elanco, Ceva Santé Animale, Perrigo Company Plc, Boehringer Ingelheim animal Health, Merck Co., Vetoquinol, and Bayer AG. Top key players are adopting new strategies such as joint ventures, mergers & acquisitions, new product developments and geographical expansions to increase their company position in the global market.
- In November 2019, Bayer AG collaborated with Pharmaron as its global partner for “Chemistry, Manufacturing and Controls (CMC) services of small molecule”. This includes drug product and drug substance manufacturing to support Bayer AG research.
- Zoetis, a leading company has got approval of the US Food and Drug Administration for its new product, Simparica TrioTM (sarolaner, moxidectin, and pyrantel chewable tablets). It is a new combination parasite preventative for dogs. It is also the first one-monthly, chewable tablet in the US that delivers all-in-one protection from heartworm disease, ticks and fleas, roundworms and hookworms. This combination product builds on the trusted legacy of Simparica® (sarolaner) Chewables and exemplifies Zoetis’ dedication to innovation in parasiticides.
- Elanco Animal Health Inc. clinched the purchase of Bayer AG’s animal-health unit in a deal valued at $7.6 billion, creating one of the biggest stand-alone veterinary-medicine companies in the world. Elanco, which was spun out from drugmaker Eli Lilly & Co. last year, will finance the acquisition with a mix of cash and stock. German drug giant Bayer AG will receive $5.32 billion in cash and $2.3 billion in Elanco Animal Health common shares. The transaction is expected to close in mid-2020. (Source: https://www.bloomberg.com/)