Increase in Prevalence of Fascioliasis to Help Triclabendazole Market Reach US$ 632.1 Mn by 2031, Notes TMR Study
– Rise in demand for high quality and safe animal protein is encouraging livestock owners to maintain the health of their livestock, which, in turn, is bolstering the triclabendazole market
– Growing efforts of veterinarians on making farmers aware about available treatment options for liver fluke and fascioliasis is boosting the sales prospects in the market
NEW YORK, Feb. 10, 2022 /PRNewswire/ — The global triclabendazole market is estimated to expand at a CAGR of 4.1% during the forecast period, from 2021 to 2031, note analysts at Transparency Market Research (TMR).
Players in the triclabendazole market are ensuring the availably of their products in veterinary clinics, hospitals, drug stores, and pharmacies. Furthermore, the market is prognosticated to gain the advantage of expansion of the ecommerce industry, notes a research report by TMR.
Due to the COVID-19 pandemic, people from across the globe are increasing focus on strengthening their immunity. As proteins are considered one of the important constituents contributing to good health of an individual, the demand for high-quality milk and protein products has been increased.
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Triclabendazole Market: Key Findings
- Increased number of animals infected with fascioliasis, which is caused due to the consumption of contaminated water plants, including algae or watercress by animals, has resulted in rise in mortality and morbidity rate in these animals. Awareness on the effectiveness of triclabendazole in the treatment of these health issues is boosting their demand, which, in turn, is fueling ample opportunities in the global triclabendazole market.
- Government bodies of several nations such as Western Australia are taking initiatives for the management of infectious diseases such as liver fluke in animals. Moreover, they are availing different treatment options for this disease. This factor is driving business prospects in the triclabendazole market.
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Triclabendazole Market: Growth Boosters
- Increase in prevalence of fascioliasis is boosting the need for advanced treatment options for this disease, which, in turn, is creating prominent opportunities in the market
- Rise in efforts of veterinarians to spread awareness among animal owners on available efficient options for the treatment of different health disorders in animals, including liver fluke, is favoring the sales growth of the global triclabendazole market
- Rise in demand for quality meat and protein products is bolstering the market
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Triclabendazole Market: Regional Analysis
- North America is a dominating region in the triclabendazole market, owing to factors such as presence of a large number of livestock and increase in preventive healthcare budgets by regional farmers. Furthermore, the triclabendazole market in North America is prognosticated to gain sizable sales prospects on the back of increase in cases of F. hepatica in cattle and sheep from this region. Moreover, increase in understanding on the effectiveness of triclabendazole for treating the Fasciola hepatica infection is anticipated to create substantial business prospects in the regional market during the forecast period.
- The triclabendazole market in Europe offers prominent growth opportunities due to the presence of many important companies operating in the animal health industry. Furthermore, the market is anticipated to be driven on the back of presence of sizable livestock population and increase in cases of liver fluke in numerous grazing animals in the region.
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Triclabendazole Market: Competition Landscape
- Companies operating in the global triclabendazole market are strengthening their production capabilities in order to cater to the rising product demand for fascioliasis treatment in animals
- Players are increasing their focus on strengthening their distribution channels
- Several enterprises in the triclabendazole market are investing heavily in R&D projects to advance the efficiency of their products
Triclabendazole Market: Key Players
Some of the key players profiled in the report are:
- RV Lifesciences Limited
- AdvaCare Pharma
- Intas Pharmaceuticals Ltd.
- Grampus Laboratories
- Shijiazhuang Shimu Animal Pharmaceutical Co., Ltd
- Shanghai Tongren Pharmaceutical Co., Ltd.
- Siflon Drugs & Pharmaceuticals Pvt. Ltd.
- Bimeda, Inc.
- Zoetis Health
- Chanelle Pharma
Triclabendazole Market Segmentation
- Oral Suspension
- Veterinary Hospitals
- Veterinary Clinics
- Pharmacies & Drug Stores
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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