The global flea, tick, and heartworm products market size is expected to reach USD 6.2 billion by 2026, expanding at a CAGR of 8.2%, according to a new report by Grand View Research, Inc. Increasing prevalence of parasitic infections such as flea, tick, and heartworm (FTH) in pets coupled with rising number of pet proprietorship and their willingness to spend on their animal’s health is expected to drive the market over the forecast period. For instance, the U.S. pet ownership statistics in 2017-2018 describes that the percentage of dogs owned by households in the U.S. was 38.4% and that of cats was 25.4%.
In
addition, according to “petsandparasites.org”, the prevalence of parasite
diseases such as Anaplasmosis, Ehrlichiosis, and Lyme in the U.S. was 3.85%,
3.04%, and 6.27% respectively, in 2017. However, the total positive cases
tested for heartworm in canine population was 128,851 in 2019 with 596 positive
cases in feline population. Therefore, with this spike increase in the
prevalence of FTH diseases in companion animals, there is a high demand for a
safe and effective drugs for their treatment and prevention. Hence, the rising
need for these products is anticipated to propel market growth in future.
Introduction
of novel FTH therapeutics is one of the key industry growth promoters in coming
years. For instance, in November 2018, Zoetis introduced 6-in-1 parasiticide
Revolution Plus topical for feline population up to 8 weeks old. On the similar
lines, Bayer AG, introduced its product Seresto, a collar against flea and tick
in India in April 2019. The product is aimed at providing effective protection
up to 8 months. The product has also received the U.S. FDA approval as a
preventive treatment for cats.
Full Research Report On Flea, Tick, And Heartworm Products Market Visit Here:
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Further key
findings from the report suggest:
- The canine segment accounted
for the largest revenue share as of 2018, owing to increasing number of
canine population getting infected with flea, tick, and heartworm borne
illness. For instance, according to the published study in Parasites
and Vector in 2017, Heartworm, Dirofilaria immitis,
is one of the most common and devastating parasitic infection in dogs with
prevalence rate presented with dyspnea and cough as high as 51%
- E-commerce distribution
channel is anticipated to register significant growth majorly owing to the
convenience of the direct delivery. Moreover, wide assortment of products,
rising internet penetration, and independent pet store operators with
ecommerce sites are further anticipated to increase the market share of
this distribution channel in near future
- North America held the
dominant market share of as of 2018, due to the favorable government
policies, new product launch, and rising investment by the major companies
for the treatment and prevention of FTH diseases in pets. For instance, in
February 2016, Zoetis introduced chewable parasiticidesSimparica against
flea and tick infestations to cater over 3 billion target population
- Asia Pacific is anticipated
to witness lucrative growth due to increasing number of pet population
with rising urgent need for effective treatment to curb FTH cases and
untapped opportunities
- Some of the key companies in
the flea, tick, and heartworm products market are Merck & Co., Inc.;
Boehringer Ingelheim International GmbH; Virbac, Inc.; Elanco; Ceva; The
Hartz Mountain Corporation; Zoetis; Promika, LLC; Sergeant's Pet Care
Products, Inc.; and Adams.
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Grand View Research has segmented
the global flea, tick, and heartworm products market on the basis of animal
type, product, distribution channel, and region:
Flea, Tick, and Heartworm
Products Animal Type Outlook (Revenue, USD Million, 2015 - 2026)
- Canine
- Feline
- Others
Flea, Tick, and
Heartworm Product Outlook (Revenue, USD Million, 2015 - 2026)
- Spray
- Oral pills/Chewable
- Powder
- Spot on
- Shampoo
- Others (Collars, Drops, and
Dips)
Flea, Tick, and
Heartworm Products Distribution Channel Outlook (Revenue, USD Million, 2015 -
2026)
- Veterinary Clinics
- Retail
- E-commerce
Flea, Tick, and
Heartworm Products Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East &
Africa
- South
Africa
- Saudi Arabia
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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