Market Size of Livestock Dewormers Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.80 Billion |
| Market Size (2029) | USD 9.92 Billion |
| CAGR (2024 - 2029) | 4.93 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Livestock Dewormers Market Analysis
The Livestock Dewormers Market size is estimated at USD 7.80 billion in 2024, and is expected to reach USD 9.92 billion by 2029, growing at a CAGR of 4.93% during the forecast period (2024-2029).
COVID-19 had a significant impact on the livestock dewormers market since routine deworming activities were delayed or canceled due to the unavailability of veterinary doctors around the globe. The American Veterinary Medical Association reported that in September 2021, due to COVID-19, veterinary clinics had a challenging 18+ months, and many veterinarians were forced to adapt to the changes it caused. In the early months of the outbreak, veterinary clinics only received urgent cases because they were operating as required businesses. This significantly impacted the livestock dewormers market. However, as the restrictions were lifted, the livestock dewormers market bounced back and is expected to witness growth in the coming years due to an increase in parasitic diseases in livestock animals.
The rise in demand for animal-based food products, including animal meat and milk, all across the globe is expected to fuel the market growth, owing to the direct association of animal meat and milk consumption with the demand for treatment and cure of any animal disease. For instance, according to Eurostat, the annual meat production, such as bovine, poultry, pigs, and sheep, has constantly been increasing in the European market. European Union pork production grew in the first five months of 2021, according to data from the European Union Commission. The European Union produced 1.88 million tonnes of pork in May, down 1% from April but up 5% (96,600 tonnes) year-on-year. 19.87 million clean pigs were slaughtered during the month, 5% (949,500 head) more than a year ago. This is due to the growing demand for protein-rich food, primarily driven by the rise in health consciousness among consumers, globally.
Parasitic diseases are quite common in animals around the world. For instance, as per an article published in June 2022 in Hindawi, helminthic infections were still present in the animals despite the widespread use of broad-spectrum antiparasitic medications by farmers in recent years. This circumstance demonstrated the farmers' failure to effectively implement helminthic infection management programs. Such studies throw light on the need to provide proper education to farmers and thereby increase the demand for dewormers across the globe.
While the market looks to develop, side effects associated with dewormers are expected to restrain the market growth.
