Published: Sep, 2018
According to a new market report published by Transparency Market Research titled ‘Flea and Tick Product Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,’ the global flea and tick product market is expected to reach US$ 10,115.21 Mn by 2026, expanding at a CAGR of 9.7% from 2018 to 2026. The global flea and tick market is expected to show significant growth rate during the forecast period due to product availability through different retail channels. Additionally, treating the pets as family members has also resulted in awareness about ensuring their proper health among the pet owners.
Rising concerns about proper health of pets among pet owners has resulted in the growth of the flea and tick product market. Changing consumer attitude toward pets over the years has also resulted in the growth of this market. Companion animal services and products account for a major share of consumer expenditure in North America. Approximately 62% to 65% of households in North America own pets, commonly cats and dogs. In 2014, citizens here spent around US$ 58 Bn on pets, which included supplies, food, veterinary care, OTC medication, and prescriptions. This rapid rise in pet care spending has been driven by the fact that the attitude of consumers has shifted and they regard pets as members of the family. Coinciding with this attitude shift, consumers are presently willing to spend sizeable amounts in order to care and feed their pets. The Food and Drug Association (FDA) has approved several therapeutic medications which have increasingly contributed to the sales of pet medication.
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By product type, chewable flea and tick products have the highest growth opportunity due to the rising demand for chewable tablets among pet owners. Moreover, manufacturers such as Zoetis and prominent players are focused on product innovation in order to develop easy solutions for pets that take care of their health and hygiene.
By method, external flea and tick products dominated the market because of the need to cure small breed dogs from infections. Small breed dogs are widely adopted among consumers globally and such dogs are more prone to infection than the larger breeds, thus resulting in the rise in demand for flea and tick products among pet owners. Moreover, external products are widely available and used as they come in a liquid form that is poured on the skin on the back of the pets.
By pet type, the dog segment dominated the market due to the rising adoption of dogs by the population. The domination is also because of the rising number of flea and tick diseases among dogs compared to other pet animals.
Geographically, in terms of revenue, North America dominated the global flea and tick market in 2017, followed by Europe. North America dominated the market due to the rising concerns toward pets and treating them as family members, which in turn has propelled the flea and tick product market. Flea dominated as a parasite and affects most dogs and cats during their lifetime. Additionally, fleas are most common among the geriatric dog and cat population. The Southeast region of the U.S. recorded the maximum cases of flea infestation in dogs, while the Northwest recorded highest prevalence rates for cats. Ticks are most prevalent in dogs in the Southeast with Oklahoma accounting for a prominent share. The Northeast dominated the tick infestations in cats, while Massachusetts dominated among the other states.
Increasing annual veterinary expenditure in households is considerably high in North America, thus resulting in the dominance of the flea and tick product market in North America. The U.S. held a significant share of the flea and tick product market in North America due to the stringent rules and regulations of the United States Environmental Protection Agency, Food and Drug Administration, and the American Pet Products Association.
The flea and tick product market consists of a large number of public and private players. The industry players focus on developing new products to satisfy the changing consumer preferences. Rise in advancements in technology and strategic acquisitions are the key competitive strategies adopted by top players in the flea and tick product market. Merck Animal Health (Merck & Co., Inc.) (U.S), Virbac Corporation (Carros, France), Ceva Sante Animale S.A. (Libourne, France), Bayer AG (Leverkusen, Germany), Sergeant’s Pet Care Products, Inc. (Omaha, NewYork, U.S), The Hartz Mountain Corporation (New Jersey, U.S), Ecto Development Corporation (Blue Springs, Missouri, U.S.), Wellmark International, Inc. (Naperville, Illinois, U.S.), Merial Animal Health Limited (Ingelheim, Germany), and Eli Lilly and Company (Indianapolis, Indiana, U.S.) among others are featured in the research report. The report also offers competitive landscape of the key players in the flea and tick product market.
Global Flea and Tick Product Market, by Product Type
- Spot On
Global Flea and Tick Product Market, by Method
Global Flea and Tick Product Market, by Pet Type
Global Flea and Tick Product Market, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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