The flea, tick, and heartworm products market has been gaining significant traction over the years, mainly due to the increasing incidence of parasitic infestation in companion animals such as dogs and cats. According to the estimates, 2020 over 60% of household dogs and cats are affected by fleas, ticks, and other parasites every year. These parasites can cause skin problems, allergies, infections, and in severe cases, even prove to be fatal for the animals. In order to safeguard the health of their pets, pet owners are increasingly reliant on various flea, tick, and heartworm preventive products. Various medications in the forms of collars, sprays, spot-ons, and chewables are available in the market to protect companion animals from external and internal parasites. Growing humanization of pets coupled with rising pet healthcare expenditure is expected to continue driving the demand for such protective products globally.
Market Dynamics:
Global flea, tick, and heartworm products market is set to witness promising growth over the forecast period. The key drivers contributing to market expansion include increasing pet adoption especially in developing nations and growing awareness about pet wellness. According to the statistics, 2021 the total number of pet dogs stood at over 463 million globally in 2021. Moreover, rising pet healthcare spending is encouraging more pet owners to invest in protective products for fleas, ticks and heartworms. However, stringent regulatory frameworks for approval of animal health products remain a key challenge. Availability of low-cost generics from local players also impacts the sales of established brands. On the opportunity side, development of innovative product formulations such as chewable and collars is expanding the appeal among pet owners. Market players are also focusing on emerging economies for geographical expansion of business.
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Detailed Segmentation:
Table of Contents
*Browse 24 market data tables and 28 figures on "Global Flea, Tick, And Heartworm Products Market” - Global forecast to 2030
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