The animal parasiticides market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (Latin America, Middle East, and Africa).
Europe accounted for the largest share of the global animal parasiticides market. The factors responsible for the largest share of this segment are the rise in the consumption of animal-derived food products, increasing demand for companion animal healthcare products, and rising demand for innovative parasiticides by veterinarians, pet owners, and food-producing animal producers in this region.
The animal parasiticides market was valued at USD 6.99 billion in 2014 and is expected to grow at a CAGR of 5.7% during the forecast period of 2015 to 2020 to reach to USD 9.76 billion by 2020.
The medicaments used to prevent, destroy, repel, or mitigate external or internal parasites in animals are referred as parasiticides.
Factors such as the rising demand for animal food products, increasing investments for government organizations and private players, growing concerns over zoonotic diseases, worldwide regulations for the prevention of spread of diseases, growth in the companion animals market, and increasing veterinary healthcare expenditures are expected to drive the market growth during the forecast period. The emerging markets such as Asia Pacific provide significant investment opportunities for market players to grow their animal parasiticides business.
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