Dog ownership has become a mainstream trend in developed regions and many developing regions are following up with it. This is driven by the emotional sentiments developed by the human being after their association with dogs. Dog lovers are planning separate budgets for dogs as their pets. Many veterinary facilities have been established to impart great health care to dogs. Last Fact.MR report states that ̴33% of the total sale parasiticides for animals was dedicated towards dog’s well-being. Opportunities in animal parasiticides market is anticipated to expand with growth in pet ownership. Animal Parasiticides are even given to milch animals owing to the stringent regulations in the dairy landscape. Use of parasiticides are used in swine and poultry to ensure robust food chain, which in turn surges the global animal parasiticides.
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North America leads market
Major factors like growth in health awareness and trending culture of high protein consumption like keto diet contribute in highlighting animal sources as major protein source. Demographic shift has been observed towards animal sources from conventional protein sources. Animal proteins consumptions increases the chances of transmission of infectious disease. This encourages a decreases the consumption of animal parasiticides, and give it’s a greater market penetration.
North America leads global animal parasiticides market. The increasing rate of pet culture. Fact.MR report states that ectoparasiticides was estimated to own 51% share of the global market due the convenience offered by the administration. Animal parasiticides exist in various forms and sprays are the latest entrants in market. Other popular forms are tablets, dips and spot-on.
Stringent regulations against use of antibiotics have been created in dairy and food products. In spite of these regulations, the market is witnessing healthy growth. Factors like increased livestock farming and intervention from central authorities make animal healthy a major factor that drives the animal parasiticides market. This generates plethora of opportunities for the veterinary experts in the global market.
Pork ingestion can arise infections
Major players in North America are using advanced technology to gain competitive edge. They are takin help f inorganic strategies like collaboration and acquisitions to generate new opportunities in the market. Collaboration with players at local and regional players aids these stake holders in diversifying their product portfolio. An extension in portfolio helps the stake holders to broaden their customer base. The cost-prohibitive aspect of animal parasiticides has the potential to generate opportunities for developing economies in Asia Pacific.
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Asia pacific holds plethora of opportunities for the players to invest. Two major factors including cheap labor and ample operational capabilities attract investments from overseas market giants. China is expected to gain significance in animal parasiticides market in the coming years owing to the extensive pork consumption by its population. High population density is one of the macroeconomic factors that animal parasiticides market in the region. To prevent infections that can arise from pork consumption, intake of sophisticated products from the global market is expected to increase in future.
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Media Release: https://www.factmr.com/media-release/1148/global-animal-parasiticides-market