How Will The Flea, Tick, And Heartworm Products Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s flea, tick, and heartworm products market report forecasts the flea, tick, and heartworm products market size to grow to $4.06 Billion by 2027, with a CAGR (compound annual growth rate) of more than 9%.
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Flea, Tick, And Heartworm Products Market Size Forecast
The global flea, tick, and heartworm products market is expected to grow from $2.58 billion in 2022 to $2.85 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The flea, tick, and heartworm products market size is expected to grow to $4.06 billion in 2027 at a CAGR of 9.2%.
North America held the largest flea, tick, and heartworm products market share.
Key Flea, Tick, And Heartworm Products Market Driver – Increase In Pet Adoption
According to the report by Petskeen, an online pet guide platform, in August 2022 every year, almost 4.1 million animals in shelters are adopted. Furthermore, according to a 2021 whitepaper published by the China Pet Industry Association early in January, there were more than 100.8 million pet dogs and cats in urban areas in 2020, which is a 10.2 percent increase over 2018 and a 1.7% increase over 2019. Therefore, increasing pet adoption will drive the flea, tick, and heartworm market in the forecasting period.
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Key Flea, Tick, And Heartworm Products Market Trend – Product Innovation
Major companies in the flea, tick, and heartworm products market are advancing in their new technologies and research and developments in the flea, tick, and heartworm products market. For instance, in August 2022, Virbac, an a US-based company introduced IVERRHART MAX, Ivermectin, pyrantel pamoate, and praziquantel are the three anthelmintics included in IVERHART MAX Chew. Dogs can administer the chews orally in four sizes with color-coded packages based on their weight. IVERHART MAX Chew, which contains ivermectin, pyrantel pamoate, and praziquantel, has a 96% acceptance rate and cures and controls roundworms, hookworms, and tapeworms in addition to preventing heartworm illness. Ivermectin is one of the ingredients that prevents heartworms.
Flea, Tick, And Heartworm Products Market Segment
1) By Product: Spray, Oral Pills or Chewable, Powder, Spot On, Shampoo, Other Products
2) By Animal Type: Canine, Feline, Other Animal Types
3) By Distribution Channel: Veterinary Clinics, Retail, E-commerce
Flea, Tick, And Heartworm Products Market Major Players and Strategies
Major players in the flea, tick, and heartworm products market are Advanced PetCare of Northern Nevada, Boehringer Ingelheim International GmbH, CEVA Inc., Chewy Inc., Covetrus Inc., Elanco LLC, Eli Lilly and Company, EntirelyPets, Merck & Co. Inc., Penn Veterinary Supply Inc., Penny Paws, Perrigo Company, Petsburgh Pet Care Inc., Pipestone Veterinary Services, Precious Pet Services Pvt. Ltd., SPC Pet India, The Hartz Mountain Corporation, Virbac Inc., Wellmark International Inc., Zoetis Services LLC, Bayer AG, and Ecto Development Corporation.
In November 2021, Merck and Co. is a US-based pharmaceutical company acquired Acceleron Pharma Inc., for an undisclosed amount. This acquisition would enable Merck and Co. to further strengthen its business development strategy by expanding their cardiovascular portfolio and pipeline, which builds on long and distinguished tradition in cardiovascular illness. Acceleron Pharma Inc., is a US- based biopharmaceutical company.
The Flea, Tick, And Heartworm Products Global Market Report 2023 covers regional data on flea, tick, and heartworm products market size, flea, tick, and heartworm products market trends and drivers, opportunities, strategies, and flea, tick, and heartworm products market competitor analysis. The countries covered in the flea, tick, and heartworm products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The fleas products refer to product that cures disease which causes allergic dermatitis, an unpleasant condition that affects both people and animals. Tick products are those that are used to cure disease that causes tiny bloodsucking parasites that have the potential to spread potentially dangerous diseases. Heartworm refers to worms that grow inside the heart and into the big blood arteries of the lungs and are spread by the bite of an infected mosquito.
View More Reports Related To The Flea, Tick, And Heartworm Products Market –
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Veterinary Antibiotics Global Market Report 2023
Animal Antibiotics And Antimicrobials Global Market Report 2023
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