Global Flea and Tick Product Market: Snapshot
Flea and tick products prevent proliferation of insects or parasites such as roundworms, tapeworms, etc. in pets. Pets infected with flea and ticks can result in illness in humans through tick bite or transmittable diseases. Serving to boost growth in the global flea and tick product market is the rising number of indulgent pet owners having the means to spend on their pet’s welfare and ensure theirs too, as well.
Also driving the global flea and tick product market is the expansion of distribution channels including vet stores and pet superstore. Government initiatives and regulation for the welfare of animal healthcare is likely to boost the flea and tick product market over the year to come.
Lack of knowledge about the various products to stem proliferation of flea and tick, on the other hand, is serving to hinder their market. Low availability of products too is posing a roadblock to the market. However, the challenge will be likely overcome with the gaining of traction of service and therapeutic pets in the upcoming years.
The global flea and tick product market is slated to register a lackluster CAGR of 4.8% from 2017 to 2025 to attain a value of US$1.34 bn by 2025 from US$0.894 bn in 2016, finds a report by Transparency Market Research.
Spot on Products Seeing Swift Uptake Owing to their Rapid Action
The different types of products purveyed in the global flea and tick market are spray, oral pill, spot on, shampoo, collar, etc. Of them, the market for the segment of spot on is rising rapidly because of its effectiveness and rapid action. The main distribution channels in the global flea and tick product market are pet superstore, vet stores, mass merchandise, and online channel. Among the different types of pets on which flea and tick products are applied, the dogs contribute to most of the share in the market.
Rising Awareness about Animal Healthcare Products Helps Asia Pacific Clock Maximum Growth
Geographically, Europe dominates the global flea and tick product market with maximum share and is predicted to maintain its position in the years to come. This is because of the presence of many prominent global vendors for animal healthcare in the region. Germany holds a sizeable share in the flea and tick product market in the region which it will likely retain till the end of the forecast period. Europe’s market share was about 35% in 2016.
Vis-à-vis growth rate, it is Asia-Pacific, which is predicted to steal the show due to the rising awareness among pet owners about animal healthcare products. China and India are said to be mainly powering growth in the region.
North America is another key region in the global flea and tick product market and accounted for a considerable share in 2016. Going forward too, the region is expected to retain its share on the back of substantially high annual veterinary expenditure in households in the region as compared to other regions. This is because most houses own pets, particularly in the U.S. The U.S. dominated the market in the region in 2016. The market in North America is forecasted to rise at a CAGR of 4.4% from 2017 to 2025.
Some of the prominent companies operating in the global flea and tick product market are Merck Animal Health, Virbac, Ceva Sante Animale, Bayer AG, Sergeant’s Pet Care Products, Inc., The Hartz Mountain Corporation, Ecto Development Corporation, Wellmark International, Inc., Merial Animal Health, and Eli Lilly and Company.
Global Flea and Tick Product Market: Snapshot
The report covers the analysis and forecast of the flea and tick product market on a global and regional level. The study offers historic data of 2016 along with the prediction for the period between 2017 and 2025 based on revenue (US$ Mn).
A complete analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Additionally, the report includes potential opportunities in the flea and tick product market on the global and regional level. Market dynamics are the factors which impact the market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2017 to 2025, along with offering an inclusive study of the flea and tick product market.
The report provides the size of the flea and tick product market in 2016 and the forecast for the next nine years up to 2025. The size of the global flea and tick product market is provided in terms of revenue. Market revenue is defined in US$ Mn. The market size and forecast for each product type, distribution channel and pet type are provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications. Market dynamics prevalent in North America, Europe and Asia-Pacific have been taken into account for estimating the growth of the global market.
Global Flea and Tick Product Market: Segmentation
The study provides a complete view of the flea and tick product market by segmenting it based on product type, distribution channel and pet type. By product type, the flea and tick product market is segmented into oral pill, spray, spot on, powder, shampoo, collar and others. On the basis of distribution channel, the flea and tick product market is classified into vet stores, mass merchandise, pet superstore and online channel. By pet type, the flea and tick product market is segmented into dog, cat and others.
Regional breakdown comprises the present and forecast demand for North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for flea and tick product across product type, distribution channel and pet type.
The competitive reporting of the important players in the global flea and tick product market across five broad geographic regions is included in the study. These include diverse business strategies adopted by the principal players and their recent developments as in the field of flea and tick product.
Global Flea and Tick Product Market: Research Methodology
Demand for flea and tick product has been derived by analyzing the global and regional demand for flea and tick product in each product type for its respective functions. The global flea and tick product market has been analyzed based on expected demand. Forecasts have been based on the expected demand from flea and tick product end-user industries. We have used the bottom-up approach to estimate the global revenue of flea and tick product market, split into regions. Based on product type, we have summed up the individual revenues from all the regions to achieve the global revenue for flea and tick product.
The product type segment split of the market has been derived using a bottom-up approach for each regional market separately, with the global application segment split being an integration of regional estimates. In the absence of specific data related to the sales of flea and tick product of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.
Global Flea and Tick Product Market: Companies
Key players in the flea and tick product market are Merck Animal Health, Virbac, Ceva Sante Animale, Bayer AG, Sergeant’s Pet Care Products, Inc., The Hartz Mountain Corporation, Ecto Development Corporation, Wellmark International, Inc., Merial Animal Health and Eli Lilly and Company.
The market has been segmented as follows:
Global Flea and Tick Product Market: By Geography
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
Global Flea and Tick Product Market: By Product Type
- Oral Pill
- Spot On
Global Flea and Tick Product Market: By Distribution Channel
- Vet Stores
- Mass Merchandise
- Pet Superstore
- Online Channel
Global Flea and Tick Product Market: By Pet Type