The global flea, tick, and heartworm products market consists of preventive medications used for treating parasites in pets. These products include collars, sprays, shampoos, powders, and spot-ons that help control fleas, ticks, and prevent heartworm diseases in pets. The rising pet adoption across countries and increasing awareness regarding pet healthcare have been fueling the demand for quality flea, tick, and heartworm preventive products.
The Global flea, tick, and heartworm products market is estimated to be valued at US$ 3.7 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global flea, tick, and heartworm products market are Zoetis, Promika, LLC, Sergeant’s Pet Care Products, Inc., Adams, Merck and Co., Inc., Boehringer Ingelheim International GmbH, Virbac, Inc., Elanco, Ceva, and The Hartz Mountain Corporation. These players are focusing on new product launches and expansion strategies to increase their market share. For instance, in 2022, Merck & Co launched a new chewable tablet called Simparica Trio for flea, tick, and heartworm prevention in dogs. The rising pet adoption across developed and developing nations has opened opportunities for pet owners to invest more in pet healthcare. This has boosted the Global Flea, Tick, and Heartworm Products Market Demand for flea, tick, and heartworm preventive products. According to the American Pet Products Association, total pet industry expenditures in the U.S increased from $72.13 billion in 2018 to $103.6 billion in 2021. Key players are focusing on expanding their geographical footprint in high potential markets such as Asia Pacific and Latin America. For example, in 2022, Elanco expanded its operations in countries such as Brazil, China, and India. Zoetis is also investing in manufacturing facilities and product registrations in emerging nations to cater to the rising pet healthcare requirements.
Market Drivers
Increase in pet adoption— According to the APPA, around 90 million dogs and over 100 million cats were owned in the U.S in 2022. Rising pet adoption is a major factor driving the demand for flea, tick, and heartworm preventive products. Awareness regarding animal health— Growing awareness among pet owners about periodic prevention of external and internal parasites has fueled the sales of flea, tick, and heartworm control products in recent years.
Market Restrains
Pet care expenditure ability—The ability to spend extensively on pet healthcare depends on per capita income levels which can restrain sales in lower-income countries and regions. Availability of generic alternatives— Easy availability of large volumes of cheap generic flea, tick, and heartworm control products pose pricing challenges for established brands.
Segment Analysis
The Global Flea, Tick, and Heartworm Products Market Regional Analysis is dominated by collars & sprays and dips sub-segment. Collars & sprays segment accounts for the major market share owing to higher adoption and ease of applicability of these products. Collars & sprays provide multi-hour protection against fleas and ticks with a single application and do not require frequent re-application. This provides convenience to pet owners with busy schedules.
Global Analysis
The North America region holds the largest share in the global flea, tick, and heartworm products market due to high pet adoption and strong demand for premium pet care products in the region. However, Asia Pacific region is projected to grow at the fastest rate during the forecast period. Increasing pet population and rising awareness about pet healthcare are some key factors driving the growth of flea, tick, and heartworm products market in Asia Pacific region. Countries like India and China are expected to generate high growth opportunities for market players in coming years.
For More Insights Discover the Report In language that Resonates with you
Get more insights: Global Flea, Tick, And Heartworm Products Market
Explore more article: Ticagrelor Market
About Author:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
