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Report
Flea and Tick Product Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 114 Pages I Mordor Intelligence
The flea and tick product market is projected to register a CAGR of 7.39% during the forecast period.
During the COVID 19 pandemic, the flea and tick product market was adversely affected. According to a research published in January 2021, titled "Impact of the COVID-19 Pandemic on the Welfare of Animals in Australia", a few cases of COVID-19 in dogs and cats were reported in different countries worldwide, and there was concern that the fear of zoonotic transmission might cause people to abandon their pets. Hence, this fear and supply chain constraints negatively impacted the market. As per an article published on HealthforAnimals in 2020, the World Veterinary Association (WVA) and local veterinary associations in Europe declared veterinary health as 'essential', similar to human healthcare services. Therefore, many veterinarians continued practicing during the pandemic. Overall, the market may continue to grow during the forecast period.
There has been a significant rise in flea- and tick-borne diseases in animals in recent years. The ectoparasites cause skin allergies and infections and transmit several diseases, such as bubonic plague, murine typhus, ehrlichiosis, rocky mountain spotted fever, Lyme disease, tularemia, tungiasis, and anaplasmosis. For instance, the North American Pet Health Insurance Association (NAPHIA) stated that, in 2020, pet health insurance for the United States recorded gross written premiums of USD 1.99 billion, up by 27.5%, from USD 1.56 billion in 2019. The market has grown at an average annual growth rate of around 24.2% from 2016 to 2020. Due to the increasing number of pets in households and companion animals, the market is expected to register positive growth during the forecast period. Hence, the increasing number of pets getting infected by various flea- and tick-borne diseases and the consequent need to be treated are expected to contribute to the market's growth. As per the study published in the Indian Journal of Community Medicine in March 2020, titled "Zoonotic Diseases in India", zoonotic diseases have been increasing in India over time. Out of 1,407 human pathogens, 816 were zoonotic, which were capable of being transmitted naturally between animals and humans. These include 538 bacteria and rickettsia, 317 fungi, 208 viruses, 287 helminths, and 57 protozoa. The study also stated that as many as 177 or 13% of the total pathogens were emerging or reemerging, and of these, 130 or 75% were classified as zoonoses. Therefore, the risk of emerging zoonosis infections is more threatening and puts constant pressure on healthcare systems to prevent the emergence of these diseases. Early diagnosis and treatment is the only effective way to prevent the spread of zoonosis, thus boosting the market's growth.
However, the side effects associated with the treatment and availability of counterfeit pesticide products for pets are hindering the market's growth.
Flea & Tick Product Market Trends
The Dog Segment is Expected to Cover a Large Share of the Market
The soft, warm fur of dogs and cats provides the perfect environment for fleas and ticks. These insects feed on the pet's blood and can cause health problems ranging from allergic reactions to serious tick-borne illnesses. Both fleas and ticks are more common during the warmer months. As a result, various products have been introduced to the market.
The demand for these products has increased, especially in developed countries, due to the increasing pet dog population. According to Simply Insurance, in 2021, the global dog population was estimated at around 900 million and rising. Dogs are the most popular pets in the United States, with over 48 million owned in over 63 million households. This factor has positively affected the market's growth and is expected to boost growth in the future.
Product launches are another key factor for the market's growth. For instance, in July 2020, Boehringer Ingelheim announced the launch of a new product in the animal healthcare portfolio for the Indian market. The product is NexGard, which provides the most comprehensive parasite treatment for dogs. As the oral ectoparasiticide for dogs, NexGard meets the pet owners' need to treat ectoparasites. Such product launches increase the number of innovative products, thus boosting the market's growth.
North America to Dominate the Market Over the Forecast Period
Increasing adoption rates of companion animals, growing disposable income, and rising per capita animal healthcare expenditure, coupled with increasing product innovations, are contributing to the major share of the US flea and tick products market.
According to the American Pet Products Association's survey, from 2019 to 2020, around 63.4 million households owned dogs and 42.7 million owned cats, putting the total US pet industry expenditure at around USD 75.38 billion. This expenditure increased from USD 60.28 billion in 2015. The rise in expenditure shows owners' willingness to provide better care products to their pets. Hence, the growing pet population and rising expenditure may boost the market's growth.
In addition, growing awareness about pet health among pet owners and the rising product innovation, such as new formula launches, are other major factors driving the US flea and tick products market. For instance, in February 2020, Zoetis received approval from the US Food and Drug Administration (FDA) for Simparica Trio for all-in-one protection from heartworm disease, ticks and fleas, roundworms, and hookworms. The new launches are increasing product innovations in the country, thus fuelling the market's growth.
Flea & Tick Product Market Competitor Analysis
The flea and tick products market is moderately competitive and includes global and local players. With the rising focus on veterinary health, several companies are anticipated to be involved in providing veterinary products in the coming future, resulting in increased competition. Some of the companies currently dominating the market are Zoetis Inc., Merck & Co. Inc., Boehringer Ingelheim GmbH, Elanco Animal Health Incorporated, Virbac, Ceva Sante Animale, and Sergeant's Pet Care Products Inc.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Flea- and Tick-transmitted Diseases in Pets
4.2.2 Growing Awareness about Zoonotic Diseases
4.2.3 Increasing Product Innovations
4.3 Market Restraints
4.3.1 Side Effects Associated with the Treatment
4.3.2 Availability of Counterfeit Pesticide Products for Pets
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Oral Pill
5.1.2 Spray
5.1.3 Spot On
5.1.4 Powder
5.1.5 Shampoo
5.1.6 Collar
5.1.7 Other Products (Injection, Drops, and Dips)
5.2 By Animal
5.2.1 Dog
5.2.2 Cat
5.2.3 Other Animals (Mice, Rabbits, Etc.)
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Boehringer Ingelheim
6.1.2 Central Garden & Pet Company
6.1.3 Ceva
6.1.4 Ecto Development Corporation
6.1.5 Elanco
6.1.6 Laboratoires Francodex
6.1.7 Merck Inc. (Intervet Inc.)
6.1.8 Professional Pet Products Inc.
6.1.9 Sergeant's Pet Care Products Inc.
6.1.10 The Hartz Mountain Corporation
6.1.11 Virbac
6.1.12 Zoetis Inc.
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