Global Flea, Tick, and Heartworm Products Market High Growth Owing to Rising Pet Ownership

 

Global Flea, Tick, and Heartworm Products Market
Global Flea, Tick, and Heartworm Products Market

The global flea, tick, and heartworm products market comprises preventive and curative treatments for protecting pets such as dogs and cats from external and internal parasites. Flea, tick, and heartworm prevention products include collars, spot-ons & powders, shampoos, and oral tablets. These protect pets from fleas, ticks that transmit Lyme disease and other tick-borne illnesses, and heartworm transmitted by mosquitoes. The market is driven by the rising pet ownership globally along with growing awareness about animal welfare. The global pet care industry has been witnessing significant growth in recent years with rising nuclear families, urbanization, and increasing disposable incomes in developing countries. Proper pet care includes regular preventive treatments and vaccines to protect them from external and internal parasites that can cause skin irritation, allergies, and in severe cases, infections or heart disease.

The Global flea, tick, and heartworm products market is estimated to be valued at US$ 5.56 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. The major players are focusing on new product launches and acquisitions to strengthen their market position and expand their global footprint. For instance, in 2022, Elanco launched Seresto flea and tick collar and Effitix tick protection spot-ons to expand its parasiticides portfolio.

The market provides significant Global Flea, Tick, and Heartworm Products Market Demand opportunities for players in the veterinary segment with innovations in long-lasting protection technologies, environment-friendly products, and combination treatments against multiple parasites. The rising pet healthcare expenditure presents scope for affordable generic products, particularly in developing countries.

North America represents the largest market, while Asia Pacific is expected to witness the fastest growth attributed to increasing income levels, westernization, and changing attitudes towards pet healthcare in countries such as China, India, and Indonesia. Major players are expanding in key Latin American and Asian countries through collaborations and acquisitions. For instance, in 2020, Zoetis acquired Prevtec Microbia to expand its presence in Brazil and other emerging markets.

Market Drivers

Rising Pet Ownership: Increase in number of pet dogs, cats, and other companion animals across the globe is a major growth driver. According to American Pet Products Association, the number of pet dogs itself increased by 7 million between 2021 and 2022 in the US. This directly raises the demand for preventive products.

Market Restrain

Alternatives such as natural flea and tick prevention: Increasing consumer preference for natural and plant-based pet care products over chemical-based alternatives such as natural flea collars and shampoos poses restrain for the market. The adoption of such alternatives could hamper the sales of convention flea, tick and heartworm drugs.

Segment Analysis

The global flea, tick, and heartworm products market is dominated by the external flea, tick, and heartworm product segment. This segment includes spot-on repellents, collars, shampoos, powders, and dips that help protect pets from external parasites such as fleas, ticks, mosquitoes, and flies. These products are widely preferred by pet owners as they are convenient to administer and provide effective and long-lasting protection. This segment accounts for over 60% of the market share as external parasites are more common and widespread.

Global Analysis

North America dominates the global flea, tick, and heartworm products market owing to high pet ownership and expenditure on pet care products in countries like the United States. The United States accounts for over 40% of the global market revenue. Europe is another major market driven by increasing pet humanization in countries like the United Kingdom, Germany, Italy, and France. However, the Asia Pacific region is expected to grow at the fastest pace during the forecast period. Factors such as rising pet adoption, growing pet healthcare expenditure, and increased awareness about pet diseases will drive the market in Asia Pacific countries like India and China. Moreover, government initiatives to promote animal welfare along with expansion oforganized retail will further support the regional market growth.

Gets More Insights on, Global Flea, Tick, and Heartworm Products 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/)

 

Comments

Post a Comment

Popular posts from this blog

Lactate Meters Market is Anticipated to Witness High Growth Owing to Rising Incidences of Sports Injuries

Image
  Lactate Meters Market The lactate meters market has been gaining increasing prominence over the recent past owing to the rising incidences of sports injuries and training programs involving monitoring of lactate levels. Lactate meters help in measuring the amount of lactic acid present in the bloodstream which accumulates during intense physical activity. They play a pivotal role in sports medicine for athletes, coaches and health professionals to determine the level of exertion, evaluate fitness, track progress during training, monitor recovery and help prevent overtraining. They provide critical insights to plan personalized training programs and exercise regimes for athletes belonging to different sports such as soccer, rugby, swimming etc. The increasing focus on fitness among individuals has also augmented the demand for home-use lactate meters. The Global lactate meters market is estimated to be valued at US$ 296.8 Mn in 2024 and is expected to exhibit a CAGR of 8.8% over...
Read more

Blood Glucose Test Strip Market is Poised to Witness High Growth Due to Increasing Diabetes Prevalence

Image
Blood Glucose Test Strip Market Blood glucose test strips are thin, plastic strips that are used in handheld devices called glucometers to measure the concentration of glucose in the blood. Glucose levels are usually measured to monitor diabetes or check for hypoglycemia. Blood glucose test strips enable diabetics to effectively manage their blood glucose levels and determine insulin requirements. The increasing prevalence of diabetes across the globe is a major factor fueling the demand for blood glucose test strips. The Global Blood Glucose Test Strip Market is estimated to be valued at US$ 12.33 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 To 2031. Diabetes is a metabolic disorder in which the body is unable to produce enough insulin or properly use the insulin it produces, resulting in elevated levels of glucose in the blood. According to the International Diabetes Federation (IDF), around 537 million adults aged 20–79 years suffered from...
Read more

Next Generation Sequencing Market to Soar with Rising Personalized Medicine Demand

Image
  Next Generation Sequencing Market Next generation sequencing (NGS), also referred to as high throughput sequencing, refers to the new sequencing technologies including sequencing-by-synthesis, real-time sequencing, and sequencing-by-ligation. This technology allows DNA and RNA to be sequenced massively in parallel. NGS technology has revolutionized genomics research and enabled the sequencing of complete genomes more quickly and cost-effectively in comparison to traditional Sanger sequencing. NGS finds wide applications in various fields including oncology, reproductive health, pharmacogenetics, metabolic disorders diagnosis testing, agriculture, and microbiology research. The global next generation sequencing market is estimated to be valued at US$ 678.13 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the next generation sequencing market are Canopy Growth Corporation, Aurora Cannabis, Til...
Read more