Los Angeles, December 10, 2019 –QY Research recently published a research report titled, “Global Livestock Dewormers Market Report and 2020 Outlook”. The global livestock dewormer market size was estimated at US$6.12 bn in 2018, and is expected to reach around US$8.6 bn by 2025, and expanding at a CAGR of around 5% during 2019 to 2025.
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Rising Demand for Animal-based Food to Drive Global Market
The rise in demand for animal based-food products is fuelling the growth of global livestock dewormers market. In recent years, there has been an extensive rise in the demand for livestock foods, which and simultaneous raised awareness about its adverse effects. Hence, both producers and farmers are becoming increasingly cautious about the hygiene and are focusing on prevention of parasitic diseases in livestock animals. This has increased the demand for dewormers that are effective, easy to control, cost effective, and safe to use. Additionally, chemicals or drugs used as dewormers have undergone various evaluations and testing rounds to get approval from FDA. These factors are expected to contribute towards the robust growth of the market.
However, over-dosage of deworming drugs is expected to hamper the demand of the market as it might lead to depression of central nervous system, deafness and ataxia, hypermetric, colics, and even deaths among livestock.
Easy administration of Drug to Boost Oral Segments in Global Market
Oral segment is expected to hold the majority of shares in the market due to its easy administration. It can be directly added to the feed products to give an effective dose to the animal.
Large Livestock Population to Encourage Growth in Asia-Pacific Region
Regional market of Asia-Pacific is expected to grow substantially in the forecast years as the rising population is encouraging large livestock population majorly for milk, chicken meat, and beef. Also, there is rising awareness among farmers regarding the health of livestock animals and innovation of drugs which is further fueling its demand.
Manufacturers to Focus on Innovative Veterinary Vaccine Technologies
ProBioGen AG and Ceva Santé Animale have recently announced a partnership to obtain an exclusive license agreement for the manufacture of vectorised poultry vaccines. This vaccine will be using ProBioGen’s proprietary AGE1.CR technology as its main component. Both the companies have, over the years, established an excellent record of producing innovative veterinary vaccine technologies from a number of different R&D programs.
The key players covered in the global livestock dewormers market report are Boehringer Ingelheim, Durvet, Ceva Sante Animale, Elanco, Ourofino, First Priority, Vetoquinol, Jeffers, TTK Healthcare, Manna Pro Products, Merck Animal Health, Merck, Zoetis, Virbac, and others.