Regional Analysis
Global Animal Parasiticides Market Regional Insights
- North America dominates the animal parasiticides market due to its large livestock population as well as a well-established animal health industry presence in the region. North America has a market share of 44.3%. According to the data from the United States Department of Agriculture (USDA) released in January 2022, the cattle population in the U.S. was 91.9 million head of cattle and calves till January 1, 2022, which is one of the largest cattle in the world. This large cattle population has led to a rising demand for parasiticides to control external as well as internal parasites that affect livestock health and productivity. Furthermore, the presence of leading parasiticides manufacturing companies such as Boehringer Ingelheim, a pharmaceutical company, Elanco, animal health company, Zoetis, global animal health company and others in the region has made it convenient for farmers and livestock owners to access a wide range of parasiticides products.
- Europe is also a significant market for animal parasiticides market, due to the high infestation rate of external parasites such as ticks and mites on livestock in the region and the availability of rise in investments in research and new product formulations. Europe is estimated to hold approximately 30% of the global market share.
- The Asia Pacific region is expected to witness the fastest growth in the animal parasiticides market during the forecast period. The contribution of the agriculture and livestock sectors to the economy is substantial in many Asia Pacific countries. According to the data published by World Food and Agriculture, in 2022, China was among the three largest producers for each main meat type. China alone accounted for 38 percent of world pig meat in 2020. Moreover, Asia was the largest milk-producing region in 2020 with a 42 percent share of total market. The large and growing livestock population in countries like China and India is driving the demand for animal parasiticides to prevent production losses. Increasing awareness among farmers regarding animal health and growing per capita income are supporting the market growth. Certain countries in Southeast Asia such as Indonesia, Thailand, and Vietnam are also expected to see higher adoption of parasiticides as their livestock farming practices become more organized.
Figure 1. Global Animal Parasiticides Market Share (%), By Region, 2023
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Geographies covered: |
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East
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