2020-2027 Analysis and Review Albendazole Veterinary Drugs Market

Albendazole Veterinary Drugs Market

Albendazole Veterinary Drugs Market By Vector (Tapeworm, Roundworm, Trematode and Others), By Animal Type (Farm Animals, Pet Animals and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027

16-02-2020 REP-HC-5035 40 Tables 111 pages Format

The albendazole veterinary drugs market was valued at USD1,115.1Mn by 2019. Rising prevalence of helminthiasis infection in animals worldwide and increasing demand for meat and dairy products consumption primarily drives the demand for albendazole veterinary drugs for maintaining optimum animal health. Furthermore significant rise in pet adoption worldwide and increasing public animal health awareness propels the albendazole veterinary drug market growth.

 Albendazole Veterinary Drugs Market

Albendazole is a broad-spectrum anthelmintic that primarily exerts its therapeutic efficacy by exerting its inhibitory effect on the tubulin polymerization which eventually results in the loss of cytoplasmic microtubules. It causes the depletion of energy production of the parasite causing immobilization and death of the parasite.

The major segments related to the albendazole veterinary drugs market are:

By Vector (2017–2027; US$ Mn)

Tapeworm

Roundworm

Trematode

Others

By Animal Type (2017–2027; US$ Mn)

Farm Animals

Pet Animals

Others

Geography Segment(2017–2027; US$ Mn)

North America

United States
Canada

Europe

United Kingdom
Germany
Rest of Europe

Asia Pacific

China
Japan
Rest of Asia Pacific

Latin America (LATAM)

Brazil
Mexico
Rest of Latin America

Middle East and Africa (MEA)

GCC
Rest of MEA

Justification for study?

  • The intention of the study is to give a comprehensive outlook of the global albendazole veterinary drugs market
  • The overall segmentation of the albendazole veterinary drugs market, by vector, animal type, and geography is minutely studied. Roundwormand farm animals are dominating the vector and animal type segments respectively
  • Rising prevalence of helminthiasis and increasing public animal health awareness primarily determines the albendazole veterinary drugs market
  • Significant rise in the adoption of pet animals further propels the albendazole veterinary drugs market 

Report gist?

  • The study of the global albendazole veterinary drugs market includes qualitative analysis of factors such as drivers, restraints, and opportunities
  • The report covers qualitative and quantitative analysis of the overall market segmented on the basis of vector and animal type and categorization of the same at the geography level
  • This research report presents the analysis of each segment from 2017 to 2027 in which 2019 is considered as the base year. Compounded annual growth rate is calculated for the respective segments from 2020 to 2027
  • The study includes the profiles of major market players with a significant global and regional presence along with top company positioning

Significant customers?

  • This study is suitable for industry participants and stakeholders in the pharmaceutical companies engaged in manufacturing and marketing of albendazole veterinary drug which is gaining huge demand on account of the rising prevalence of helminthiasis and increasing adoption of pet animals
  • The report will benefit veterinary physicians engaged in the treatment of helminthiasis in farm and pet animals
  • Managers with financial institutions looking to publish recent and forecasted statistics pertaining to albendazole veterinary drugs market
  • Financial institutions venture capitalist, analysts, investors, government organizations, policymakers, regulatory authorities, researchers, looking for insights into the market to determine future strategies

Segment Analysis

Roundworms are leading the vector segment for the albendazole veterinary drugs market. The most commonly encountered helminthiasis infection in animals is the roundworms such as soil-transmitted schistosomiasis and ascariasis frequently encountered in grazing animals. The dose of albendazole in cattle is between 7.5 to 10mg/kg, for small farm animals such as sheep and goat a dose of 5mg/kg is recommended. Tapeworm vectors are anticipated to register rampant market growth owing to the ingestion of contaminated food, water, and ingestion of fleas by small pet animals such as dogs and cats. The frequently encountered tapeworms in the gastrointestinal tract of pet animals worldwide are Dipylidium caninum in dogs and taneia taeniaformis in cats respectively. In pet animals the dose of albendazole is adjusted as 10, 25 or 50mg/kg according to the severity and type of helminthiasis infection.

Farm animals are reigning the animal type segment for the albendazole veterinary drugs market. A significant rise in the demand for protein consumption has led to the rearing of farm animals for meat and dairy products. Stringent regulatory norms implemented by the healthcare agencies worldwide to prevent the outbreak of zoonotic disease provide huge demand for the albendazole veterinary drugs market to treat helminthiasis in farm animals. Pet animals are significantly increased owing to the increasing humanization of pet animals and constant rise in double income no kid households (DINK) worldwide further increases the adoption of pet animals in both the developed and developing region.

North America is currently leading the geography segment for the albendazole veterinary drug market. The chief contributing factor responsible for its market dominance is the rearing of farm animals for meat and dairy products consumption. The veterinary science department is highly evolved in the United States and is diligently striving to provide adequate animal health. Domicile of key players such as Zoetis, Inc., Virbac, and MSD Animal Health, etc. further accentuates the albendazole veterinary drugs market growth. Europe is the second-largest regional market on account of increasing adoption of pet animals and rising public animal health awareness further buttresses the albendazole veterinary drug market growth in the region. Asia Pacific is set to witness excellent market growth during the forecast period owing to the significant rise in the rearing of milch cattle by marginal farmers as an additional source of income. Huge government funding in the development of the veterinary science department further consolidates the market growth in the Asia Pacific region.

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