The Latin America, Middle East and Africa Livestock Parasiticides Market would witness market growth of 11.7% CAGR during the forecast period (2023-2029).
The market for livestock parasiticides is expanding due to the increased demand for animal healthcare products caused by the increasing number of livestock animals used for food production in emerging economies. In addition, the market for livestock parasiticides is being further stimulated by a rise in the costs associated with animal healthcare and welfare to enhance the health of livestock animals.
Foods originating from animals, such as eggs, milk, and meat, are in higher demand. The decline in agricultural output has increased the use of animal foods by depleting resources and reducing the amount of arable land available. A diet high in protein is necessary for maintaining good health, and foods made from animals are a fantastic source of protein. The consumption of animal proteins remains steady in rich nations while rising in underdeveloped nations.
Farmers are anticipated to enhance livestock production to satisfy the rising demand for animal meals. It is anticipated that as the number of livestock increases, more animal parasiticides will be employed to prevent the financial losses brought on by the detrimental effects of parasitic infections on animal health.
Animal diseases are a persistent threat to domestic pets and livestock and a significant socioeconomic obstacle to their expansion in Sub-Saharan African countries. Most livestock illnesses recognized by the World Organization for Animal Health (OIE) are found in Africa, necessitating the frequent administration of veterinary drugs. There was a total of 46 instances of unfavourable reactions in people and 74/120 instances of alleged negative effects or ineffectiveness of veterinary drugs in animals.
The Brazil market dominated the LAMEA Livestock Parasiticides Market by Country in 2022; thereby, achieving a market value of $89.9 Million by 2029. The Argentina market is estimated to witness a CAGR of 12.3% during (2023 - 2029). Additionally, The UAE market would experience a CAGR of 11.4% during (2023 - 2029).
Based on Type, the market is segmented into Ectoparasiticides, Endoparasiticides and Endectocides. Based on End User, the market is segmented into Veterinary Clinics & Hospitals and Animal Farms. Based on Livestock, the market is segmented into Cattle, Poultry, Sheep & Goats and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Livestock Parasiticides Market is Projected to reach USD 3.9 Billion by 2029, at a CAGR of 5.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boehringer Ingelheim International GmbH, Elanco Animal Health, Inc., Virbac, Zoetis, Inc., PetIQ, Inc., Merck & Co., Inc., Vetoquinol SA, Norbrook Laboratories Limited, Bimeda, Inc., and Ceva Santé Animale.
By Type
By End User
By Livestock
By Country
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