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The Canine and Feline Parasitology Market1 is forecast to grow
at a CAGR of +X% from 2020 to 2035
Key Market Drivers
Parasitology remains the largest product segment in animal
health
It is a burgeoning sector with numerous growth opportunities in
both developed and developing markets
Established sector with changes in epidemiology and pet owner
compliance driving growth
Flea and tick control to continue being the largest
segment
The market will continue to be dominated by dogs
The US is largest market in companion animal parasitology, with
the highest growth rate expected in APAC-3
Upcoming genericization of isoxazolines evokes protective
lifecycle management
Improving compliance rates for treating parasites is main unmet
need in pet parasitology market
Overall
Parasitology remains the largest segment in animal
health, growing at aX% CAGR. Our analysis
shows the global market for canine and feline parasitology is
projected to reach $X billion, growing by X% between 2020 and 2035.
Factors such as growth in companion animal ownership, an increased
number of animals at risk due to climate changeinduced influences
on epidemiology, and increased awareness and compliance from pet
owners are expected to drive growth in the market. Additionally,
increasing price levels will drive growth of the companion animal
parasitology market value. Price level increases will be driven by
innovation in formulation development, such as the introduction of
higher priced combination endectocides and innovation regarding new
active pharmaceutical ingredient classes, as well as new
technologies. At the same time, the increase in price levels will
be slowed by higher genericization and intra-innovation
competition.
Market by Application
Flea and tick control to remain largest segment, worm
control with heartwormclaim growing
fastest By application, the flea and tick control segment
accounted for X% of the overall canine and feline parasitology
market in 2020 and is expected to reach $X billion by 2035, at a
CAGR of X%. Key factors driving growth are increased geographic
spread and abundance of ticks, and rising awareness regarding risks
of tick-borne disease. The worm control with heartworm claim
segment accounted for a smaller part of the companion animal
parasitology market with X% share in 2020. This segment is expected
to grow fastest and to reach $X billion by 2035 at a CAGR of X%.
Growth is driven by heartworm becoming a risk in more geographies
and during longer periods of the year, among other factors. The
worm control without heartworm claim segment is the smallest part
of the pet parasitology market with X% share in 2020. This segment
is expected to grow to $X billion by 2035 at a CAGR of X%. This
comparatively low growth rate is related to the trend towards
endectocides, which in most cases include a heartworm claim.
Market by Treatment
Endectocides are forecast to grow fastest at a CAGR
X% In relation to type of treatment, ectoparasiticides
accounted for the largest share of the companion animal
parasitology market in 2020 with a X% share, but this is expected
to drop to X% by 2035. The decrease in market share can be
attributed to the past and future launch of endectocides that offer
more convenience to the pet owner thanks to their
'one-product-fits-all' characteristic. Endoparasiticides accounted
for the smallest share of the canine and feline parasitology market
in 2020 with X% share. This is expected to drop even more and is
again related to the aforementioned trend regarding endectocides.
With a CAGR of X%, endectocides are expected to drive growth in the
companion animal market substantially. We project this segment to
grow from $X billion in 2020 to $X billion in 2035.
Download the Sample Report: Canine and Feline Parasitology Market
2020-2035
This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.