The pet tick and flea market is projected to reach at US$ 8.88 Billion in 2022. Sales are projected to increase at a 4.0% CAGR from 2022 to 2032, with the market size reaching US$ 13.15 Billion by 2032.
The increase in the number of pet animals especially abroad has resulted into a boost for several types of pets which is likely to favor positively the market value. The biggest reason why pets are adopted is because such a process eases depression.
Also, there has been a rising of the phenomenon called pet humanization. When this happens, the pet animals are treated as if they were akin to family and their owners try all manner of means possible so that their pets feed on only what is good. This opens up a great potential for the market.
Additionally, the number of zoonotic diseases cases has also been an issue that continues to raise debates. The only way to minimize the effect caused by such type of diseases is through applying tick and flea control products on pets. This is to be expected in the near future with a subsequent increase in demand for pet tick and flea prevention products.
Moreover, governments and corporates worldwide are conducting awareness programs to convey the importance of pet tick and flea prevention products. The purpose is to ensure that both the pets and the owners remain in sound physical condition.
Another factor that might increase the demand for pet tick and flea prevention products is disposable income. Because of this, the pet owners are in a much more comfortable position to avail these services.
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Thus, from the insights provided by FMI, it can be concluded that increasing concern regarding pet health, coupled with increase in the adoption of pet animals, and plenty of other factors are expected to drive the pet tick and flea prevention market during the forecast period.
Key Takeaways:
- The pet tick and flea prevention market is expected to grow at a CAGR of 4% during the forecast period.
- The pet tick and flea prevention market has a valuation of US$ 8886.2 million as on 2022.
- By 2032, the market is expected to reach a valuation of US$ 13150 million.
- North America is currently the largest pet tick and flea prevention market.
- Europe is the second largest market.
- Asia pacific is expected to be the fastest growing market.
- Based on the product, the spot on product is expected to have the largest pet tick and flea prevention market share during the forecast period
- Based on the sales channel, E-commerce is expected to be the largest segment in the market during the forecast period
- Based on the animal segment, dogs are expected to have the highest market share during the forecast period.
Competitive Landscape in the Pet Tick and Flea Prevention Market:
The pet tick and flea prevention market is currently experiencing a number of mergers and acquisitions. Apart from that, the key players are investing in the Research and development to manufacture the best quality products.
Some of the recent developments are in the pet tick and flea prevention market:
- In July 2022, Boehringer Ingelheim, Evotec, and bioMerieux collaborated to launch Aurobac, which will mainly work to fight antimicrobial resistance.
- In May 2022, Ceva Sante Animale expanded oral rabies vaccine portfolio with the acquisition of Canadian firm Artemis Technologies.
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Pet Tick and Flea Prevention Market by Category
By Product:
- Oral pills
- Spray
- Spot on
- Powder
- Shampoo,
- Collar
- Other products (Injection, Drops, and Dips)
By Animals:
- Dogs
- Cats
- Other animals (Mice, Rats etc.)
By Sales Channel:
- E-commerce websites
- Company websites
- Specialty stores
- Pharmacy stores
- Mega retail stores
- Others (Individual Stores, Departmental Stores, etc.)
Key Companies Profiled in the Pet Tick and Flea Prevention Market
Key Companies Profiled in the Pet Tick and Flea Prevention Market are Ceva Sante Animale S.A,., Ecto Development Corporation, Eli Lilly and Company, Merck Animal Health (Merck & Co., Inc.),Sergeant’s Pet Care Products, Inc., The Hartz Mountain Corporation, Virbac Corporation, Wellmark International, Inc., Central Life Sciences, Advanced Pet Care of Northern Nevada, Penn Veterinary Supply, Inc., Petsburgh Pet Care Inc.,Pipestone Veterinary Services, Precious Pet Services Pvt. Ltd., SPC Pet India, Boehringer Ingelheim Group
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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