PUBLISHER: Grand View Research | PRODUCT CODE: 1529673
PUBLISHER: Grand View Research | PRODUCT CODE: 1529673
The global veterinary parasiticides market size is expected to reach USD 16.63 billion by 2030, registering a CAGR of 8.50% from 2024 to 2030, according to a new report by Grand View Research, Inc. Primary market growth drivers include rising demand for pathogen-free meat products and the need for a regulated approach towards parasiticides use. In recent years, with increasing meat consumption, it has been observed that transmission of diseases from meat products has increased. According to an August 2023 study published in the International Journal of Food Microbiology, out of the total studied disease outbreaks from 1991 to 2021, the majority, i.e., 42.4%, were transmitted through meat production establishments. Regarding types of meat, beef & pork were identified to be responsible for 62.35% & 32.1% of the outbreaks, respectively. Such incidences have led to a rise in demand for pathogen-free meat products.
In response, meat producers are employing various strategies before harvesting the meat from the animals to reduce the risk of transmission of foodborne pathogens. Some of these strategies are reducing the number of pathogens entering processing plants, reducing horizontal pathogen spread from infected animals during transport, reducing the pathogen burden in the environment (e.g., dust and pen surfaces), and administering proper treatment regimens to the animals to reduce the risk of getting infected.
Furthermore, animal farms are also breeding & raising specific pathogen-free (SPF) animals free of selected pathogens like parasites, bacteria & viruses, which can potentially transmit diseases to humans. A history of regular pathogen testing and meticulous biosecurity planning for managing housing, environmental, and husbandry factors is essential for producing and preserving SPF animals. Comprehensive risk analysis and exclusion procedures based on an in-depth understanding of the pathogen lifecycle and modes of transmission are vital elements of successful programs. These SPF animals, like pigs, cattle, and poultry, can be used in producing pathogen-free dairy and meat and research activities.
This is a major market driver because, as the production and demand for pathogen-free meat products increase, so will the requirement for products like parasiticides to eliminate the harmful pathogens from these animals and produce a healthy and pathogen-free yield.
However, a major factor that could hamper market growth is the development of antiparasitic drug resistance among animals. In recent years, various research studies have started revealing the rise in antiparasitic drug resistance among animals. For instance, a March 2023 study by the University of Calgary revealed a consistent rise in drug resistance among gastrointestinal worms in the studied pet dogs. Until now, antiparasitic resistance wasn't considered a major problem among companion animals. However, this growing resistance points towards the fact that in the near future, many routine drug treatments may be ineffective. Therefore, selective use of antiparasitic drugs and thorough research into revealing such instances in other animals is required to resist the negative impact of this factor on the market.