Flea and tick products prevent proliferation of insects or parasites such as roundworms, tapeworms, etc. in pets. Pets infected with flea and ticks can result in illness in humans through tick bite or transmittable diseases. Serving to boost growth in the global flea and tick product market is the rising number of indulgent pet owners having the means to spend on their pet’s welfare and ensure theirs too, as well.
Also driving the global flea and tick product market is the expansion of distribution channels including vet stores and pet superstore. Government initiatives and regulation for the welfare of animal healthcare is likely to boost the flea and tick product market over the year to come.
The global flea and tick product market is slated to register a lackluster CAGR of 4.8% from 2017 to 2025 to attain a value of US$1.34 bn by 2025 from US$0.894 bn in 2016, finds a report by Transparency Market Research.
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Spot on Products Seeing Swift Uptake Owing to their Rapid Action
The different types of products purveyed in the global flea and tick market are spray, oral pill, spot on, shampoo, collar, etc. Of them, the market for the segment of spot on is rising rapidly because of its effectiveness and rapid action. The main distribution channels in the global flea and tick product market are pet superstore, vet stores, mass merchandise, and online channel. Among the different types of pets on which flea and tick products are applied, the dogs contribute to most of the share in the market.
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Rising Awareness about Animal Healthcare Products Helps Asia Pacific Clock Maximum Growth
Geographically, Europe dominates the global flea and tick product market with maximum share and is predicted to maintain its position in the years to come. This is because of the presence of many prominent global vendors for animal healthcare in the region. Germany holds a sizeable share in the flea and tick product market in the region which it will likely retain till the end of the forecast period. Europe’s market share was about 35% in 2016.
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North America is another key region in the global flea and tick product market and accounted for a considerable share in 2016. Going forward too, the region is expected to retain its share on the back of substantially high annual veterinary expenditure in households in the region as compared to other regions. This is because most houses own pets, particularly in the U.S. The U.S. dominated the market in the region in 2016. The market in North America is forecasted to rise at a CAGR of 4.4% from 2017 to 2025.
Some of the prominent companies operating in the global flea and tick product market are Merck Animal Health, Virbac, Ceva Sante Animale, Bayer AG, Sergeant’s Pet Care Products, Inc., The Hartz Mountain Corporation, Ecto Development Corporation, Wellmark International, Inc., Merial Animal Health, and Eli Lilly and Company.
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