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Pharmacy benefit management market
FLEA AND TICK PRODUCT MARKET REPORT OVERVIEW
The global flea and tick product market size was USD 6158 million in 2022 and will reach USD 9424.4 million by 2028, exhibiting a CAGR of 7.4% during the forecast period.
Flea and tick products encompass a wide range of treatment and preventative options designed to protect pets from infestations and related health issues. These products include spot-on treatments, collars, sprays, shampoos, and oral medications. They work by repelling or killing fleas and ticks on pets, effectively preventing infestations and reducing the risk of associated diseases such as Lyme disease and flea allergy dermatitis. Maintaining parasite protection is essential for pet health and well-being, ensuring animals remain comfortable and free from discomfort and health risks posed by fleas and ticks.
A variety of factors are driving expansion in the flea and tick product market size, for starters, rising pet ownership rates around the world result in a larger consumer base looking for effective flea and tick protection. Furthermore, increased knowledge of the health hazards connected with these parasites, such as the transmission of diseases to both dogs and humans, boosts demand for preventive treatments. Furthermore, developments in product formulation and technology, which result in more convenient and effective solutions, drive market expansion. As pet owners emphasize their pets' health and well-being, the demand for flea and tick products is gradually increasing.
COVID-19 Impact: Pandemic’s Supply Chain Disruptions Led To Temporary Shortages of Products
The COVID-19 pandemic has been unprecedented and staggering, with flea and tick product market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.
The pandemic had a big impact on the market; with lockdowns and limitations in place, pet owners spent more time at home with their pets, resulting in increased interactions and greater awareness of flea and tick infestations. As a result, demand for flea and tick products increased as pet owners sought to protect their pets from these parasites. However, disruptions in supply chains and manufacturing generated temporary shortages of certain products in some places, posing difficulty in meeting rising demand. Despite these hurdles, the epidemic highlighted the significance of flea and tick control, resulting in long-term market development as pet owners prioritize pet health and wellness.
LATEST TRENDS
"Rise of Natural and Organic Solutions to be A Prominent Trend "
Natural and organic options are becoming increasingly popular in the flea and tick product industry. Pet owners are increasingly looking for safer and more environmentally friendly ways to safeguard their pets from parasites, which is pushing the development of new products and technologies in this area. Leading players are responding to this trend by introducing novel formulations including plant-based components such essential oils and botanical extracts known for their repellent characteristics. In addition, technological developments have resulted in the creation of novel delivery systems, including as long-lasting collars and sustained-release formulations, which provide extended flea and tick protection. Companies such as Bayer, Zoetis, and Merck Animal Health are at the forefront of developing next-generation solutions to satisfy the changing needs of pet owners in the market.
FLEA AND TICK PRODUCT MARKET SEGMENTATION
By type
Depending on flea and tick product market given are types: Oral Pill, Spray, Powder, Shampoo, Collar & Others. The Oral Pill type will capture the maximum market share through 2028.
- Oral Pill: Oral pills are convenient and effective for pet owners to administer, offering systemic protection against fleas and ticks. They typically contain active ingredients that circulate in the pet's bloodstream, killing parasites upon contact. Oral pills are favored for their ease of use and long-lasting efficacy, driving their dominance in the market.
- Spray: Flea and tick sprays are applied directly to the pet's coat, providing immediate protection against parasites. These sprays often contain insecticides or repellents that kill or repel fleas and ticks on contact. They are popular for spot treatments and for pets with sensitive skin, offering a versatile solution for pet owners.
- Powder: Flea and tick powders are applied topically to the pet's coat, providing protection against parasites. These powders often contain insecticides or natural ingredients that kill or repel fleas and ticks upon contact. They are favored for their ease of application and efficacy in controlling infestations.
- Shampoo: Flea and tick shampoos are specially formulated to cleanse and protect the pet's coat from parasites. These shampoos contain active ingredients that kill or repel fleas and ticks while cleansing the pet's skin and coat. They offer a convenient way to incorporate parasite control into regular grooming routines.
- Collar: Flea and tick collars are worn around the pet's neck, providing continuous protection against parasites. These collars release active ingredients that repel or kill fleas and ticks over an extended period, offering long-lasting efficacy and convenience for pet owners. Collars are favored for their ease of use and effectiveness in preventing infestations.
- Others: This segment encompasses various innovative flea and tick products, including spot-on treatments, wipes, and natural remedies. These products offer alternative solutions for pet owners seeking effective parasite control, catering to diverse preferences and needs within the market.
By Application
The market is divided into Vet Stores, Pet Superstore, Online Channel based on application. The global flea and tick product market players in cover segment like Vet Stores will dominate the market share during 2022-2028.
- Vet Stores: Vet stores are a primary distribution channel for flea and tick products, offering a wide range of options curated by veterinary professionals. These stores provide personalized recommendations and guidance, making them a preferred choice for pet owners seeking expert advice and premium products for their pets' health.
- Pet Superstore: Pet superstores cater to a broad range of pet care needs, including flea and tick products, alongside other pet supplies. With their extensive product offerings and convenient shopping experience, pet superstores attract pet owners looking for a one-stop destination for all their pet care essentials.
- Online Channel: The online channel has gained popularity for purchasing flea and tick products due to its convenience and accessibility. Online platforms offer a vast selection of products, competitive pricing, and doorstep delivery, making them a convenient option for pet owners to shop from the comfort of their homes.
DRIVING FACTORS
"Increasing Global Pet Ownership Rates to Drive Growth in Market"
The rising global pet ownership rates are one reason driving the flea and tick product market growth. As more people add pets to their families, the demand for effective flea and tick control solutions grows. Pet owners emphasize their furry companions' health and well-being, looking for reliable remedies to protect them from parasite infestations. Furthermore, rising knowledge of the health dangers posed by fleas and ticks, such as disease transmission to both pets and humans, increases the demand for preventive solutions. This tendency drives market expansion as manufacturers develop to fulfill pet owners' changing needs for safe and effective parasite control solutions.
"Growing Prevalence of Flea and Tick-Borne Disorders to Propel Market Demand"
Another important reason driving the market is the rising prevalence of flea and tick-borne disorders. As global temperatures rise and environmental conditions change, fleas and ticks' geographic ranges expand, putting more pets at danger of infestation and disease transmission. This increased risk of vector-borne infections, such as Lyme disease and Rocky Mountain spotted fever, emphasizes the need for comprehensive parasite control strategies. Pet owners are becoming more proactive in protecting their pets from these diseases, fueling demand for flea and tick solutions that provide dependable and long-lasting protection against parasitic infestations and associated health hazards.
RESTRAINING FACTORS
"Emergence of Parasite Resistance to Hamper the Market Growth"
One limiting factor affecting the flea and tick product industry is the emergence of parasite resistance to traditional insecticides. Fleas and ticks can acquire resistance to the active chemicals in flea and tick medicines over time, making them less effective for infestation control. This is a difficulty for both pet owners and manufacturers, who must constantly innovate and develop new formulas to overcome parasite resistance. Furthermore, continuous use of chemical-based treatments may generate worries about environmental pollution and pet safety, prompting some consumers to seek alternative, natural-based alternatives, thereby influencing market dynamics.
FLEA AND TICK PRODUCT MARKET REGIONAL INSIGHTS
"North America to Dominate the Market due to Vibrant Pet Care Industry "
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America and Middle East & Africa.
North America is the dominant region in the market, with a large market share and a high development trajectory. High pet ownership rates, robust healthcare infrastructure, and tight regulatory standards all contribute to the region's demand for flea and tick solutions. Furthermore, increased awareness of pet health and well-being, combined with growing worries about vector-borne diseases, are driving market expansion. North America's vibrant pet care business and strong consumer spending power contribute to its dominance in the flea and tick product market share, establishing it as a crucial region for continued expansion and innovation in the pet care industry.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
The flea and tick product market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
LIST OF TOP FLEA AND TICK PRODUCT COMPANIES
- Merck & Co (U.S.)
- Virbac (France)
- Ceva (France)
- Bayer (Germany)
- Sergeants (U.S.)
- Hartz (U.S.)
- Ecto Development (U.S.)
- Merial (U.S.)
- Eli Lily (U.S.)
INDUSTRIAL DEVELOPMENT
September 2021: Virbac, headquartered in Carros, France, announced a big industrial advance with the introduction of their revolutionary flea and tick control solution, "Vectra 3D". This innovative formulation provides dogs with triple-action protection against fleas, ticks, and mosquitoes, offering complete defense against vector-borne infections. Vectra 3D uses cutting-edge technology to reject and kill parasites on contact, assuring long-term efficacy and protection for dogs. Virbac's release of Vectra 3D highlights their dedication to promoting pet health and well-being by meeting pet owners' changing expectations for efficient parasite control solutions in the market.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 6158 Million in 2022 |
Market Size Value By |
US$ 9424.4 Million by 2028 |
Growth Rate |
CAGR of 7.4% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the flea and tick product market expected to touch by 2028?
The flea and tick product market size is expected to reach USD 9424.4 million by 2028.
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What CAGR is the flea and tick product market expected to exhibit by 2028?
The flea and tick product market is expected to exhibit a CAGR of 7.4% by 2028.
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Which are the driving factors of the flea and tick product market?
The driving factors of the flea and tick product market are increasing global pet ownership and prevalence of flea and tick-borne disorders.
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What are the flea and tick product market segments?
The flea and tick product market segmentation that you should be aware of, which include, based on type the flea and tick product market is classified as oral pill, spray, powder, shampoo, collar & others. Based on application the flea and tick product market is classified as vet stores, pet superstore, online channel.