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DUBAI, United Arab Emirates, Oct. 02, 2022 (GLOBE NEWSWIRE) -- As per a recent market analysis by Future Market Insights (FMI), the is valued at US$ 8,886.2 Mn in 2022. Sales are projected to increase at a 4.0% CAGR from 2022 to 2032, with the market size reaching US$ 13,150.0 Mn by 2032.
There has been an increase in the adoption of several pet animals worldwide, which is expected to positively impact the pet tick and flea prevention market. The main reason behind this is that adopting pets helps in battling depression.
Additionally, there has been an increase in the trend of pet humanization. In such cases, pet animals are treated no less than a family member, and owners take all possible measures to keep their pets in the best condition. This presents a huge opportunity for the market.
Moreover, there has been a growing concern regarding the increasing cases of zoonotic diseases. The only way to reduce the impact of such diseases is by applying tick and flea prevention products to pets. This is expected to increase the demand for pet tick and flea prevention products during the forecast period.
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.
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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.
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.
- 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.
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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.
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
Pet Tick and Flea Prevention Market by Category
- Oral pills
- Spot on
- Other products (Injection, Drops, and Dips)
- 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.)
- North America
- Latin America
- Asia Pacific
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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