The pet tick and flea prevention market is anticipated to reach a value of USD 9,722.5 million in 2024, with the industry projected to grow at a CAGR of 4.3% over the next ten years. By 2034, revenue in this sector is expected to soar to USD 14,812.3 million. The main factors driving this growth include the increasing adoption of pets and a rise in the occurrence of zoonotic diseases.
- The rise in pet ownership, particularly abroad, has led to increased demand for various types of pets, positively impacting the market value.
- Adoption of pets is often attributed to their ability to alleviate depression, making the process appealing to many individuals.
- Pet humanization, where pets are treated as family members, encourages owners to prioritize their pets’ well-being, including their diet.
- This trend creates significant market potential for products that cater to the health and nutrition needs of pets.
- The increasing incidence of zoonotic diseases highlights the importance of tick and flea control products for pets to minimize the spread of such diseases.
- Consequently, there is expected to be a rise in demand for pet tick and flea prevention products in the near future.
- Governments and corporations worldwide are initiating awareness programs to educate pet owners about the significance of tick and flea prevention for maintaining both pet and owner health.
- Disposable income levels play a crucial role in increasing demand for pet tick and flea prevention products, as owners are more financially capable of accessing 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 4.3% during the forecast period.
- The pet tick and flea prevention market has a valuation of USD 9,722.5 million as on 2022.
- By 2034, the market is expected to reach a valuation of USD 14,812.3 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.
Key Companies Profiled in the Pet Tick and Flea Prevention Market
Key Companies Profiled in the Pet Tick and Flea Prevention Market are
- Boehringer Ingelheim Group
- 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 PetCare of Northern Nevada
- Penn Veterinary Supply, Inc.
- Petsburgh Pet Care Inc.
- Pipestone Veterinary Services
- Precious Pet Services Pvt. Ltd.
- SPC Pet India
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.)
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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