Key Trends and Insights into the Over-The-Counter (OTC) Pet Medication Market: Growth Rate and Opportunities to 2034
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What key factors are powering the surge in the over-the-counter (otc) pet medication market right now?
The market size for over-the-counter (OTC) pet medications has seen robust growth in the past few years. It is projected to rise from $8.73 billion in 2024 to $9.3 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. The notable growth in the historical period is due to factors such as the rise of pet humanization trends, escalating demand for convenient pet care solutions, growth of retail avenues, increasing pet adoption rates, and changes in regulatory frameworks.
How fast Is the over-the-counter (otc) pet medication market expected to grow, and what’s its future value?
The market size for over-the-counter (OTC) pet medication is projected to witness robust growth in the upcoming years, rising to a valuation of $11.81 billion by 2029 with a compound annual growth rate (CAGR) of 6.2%. The projected growth during the forecast period can be attributed to a change in consumer perception about pet health, heightened knowledge of preventive care, an increase in pet ownership, a wider range of product offerings, and a heightened demand for OTC pet medications. Major trends expected to play out during this period include the integration of telemedicine in veterinary care, the availability of more natural and organic products, tailored pet health solutions, proliferation of e-commerce platforms, and a greater emphasis on preventive care.
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What are the leading drivers of growth in the over-the-counter (otc) pet medication market?
The increase in pet ownership is anticipated to drive the expansion of the over-the-counter (OTC) pet medication market. Owning a pet entails the legal and ethical obligation to care for and manage a domestic animal as a companion. The growing pet ownership trend can be attributed to factors like companionship and emotional support, improved quality of life, urbanization, changing familial structures, and heightened awareness of the health and wellness benefits associated with owning a pet. OTC pet medications offer a range of advantages for pet owners, contributing to the ease and convenience of pet care. These medicines are readily available and affordable, promoting proper pet care by providing swift solutions for common health issues. For instance, the American Pet Products Association, a US-based non-profit organization, announced in October 2023 that 86.9 million US households, representing 66% of the 2022 households, owned pets. Similarly, in November 2022, Animal Medicines Australia, an Australian association representing animal health, shared that 69% of households in Australia had pets in 2022. Consequently, the increase in pet ownership is propelling the OTC pet medication market.
What are the key segments defining the over-the-counter (otc) pet medication market?
The over-the-counter (OTC) pet medication market covered in this report is segmented –
1) By Medication: Flea And Tick Control, Wormers And Dewormers, Dental Care, Nutritional Supplements, Skin And Coat Care, Pain And Allergy Relief, Other Medications
2) By Pet: Dogs, Cats, Birds, Fishes And Reptiles, Other Pets
3) By Form: Chews And Treats, Capsule And Ointment, Sprays, Other Forms
4) By Distribution Channel: Drug And Pharmacy Stores, Pet Specialty Stores, Veterinary Clinics And Hospitals, Online Retailers, Other Distribution Channels
Subsegments:
1) By Flea And Tick Control: Topical Treatments, Oral Medications, Shampoos And Sprays
2) By Wormers And Dewormers: Oral Wormers, Topical Dewormers, Injectable Dewormers
3) By Dental Care: Toothpaste And Toothbrushes, Dental Chews And Treats, Oral Rinses And Sprays
4) By Nutritional Supplements: Vitamins And Minerals, Joint Health Supplements, Digestive Health Supplements, Immune Support Supplements
5) By Skin And Coat Care: Shampoos And Conditioners, Topical Creams And Sprays, Flea And Tick Sprays
6) By Pain And Allergy Relief: Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Antihistamines, Steroid Creams And Ointments
7) By Other Medications: Digestive Aids, Anti-Anxiety Medications, Eye And Ear Care Products
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Who are the key players steering the development of the over-the-counter (otc) pet medication market?
Major companies operating in the over-the-counter (OTC) pet medication market are Pfizer Inc., Merck & Co. Inc., Bayer AG, Novartis AG, Zoetis Inc., Boehringer Ingelheim IN, Elanco Animal Health Incorporated, VCA Animal Hospital Inc., Ceva Sante Animale S.A, Virbac S.A., PetIQ Holdings LLC, Vetoquinol S.A, Norbrook Laboratories Limited, Bimeda Inc., Med-Vet International Inc., Sergeant’s Pet Care Products Inc., Advecta, Zesty Paws, Durvet Inc., Pet King Brands, Animax Ltd., PetArmor
What are the key trends shaping the future of the over-the-counter (otc) pet medication market?
Leading businesses in the over-the-counter (OTC) pet medication market are focusing on the creation of groundbreaking products, such as the inaugural monoclonal antibody, to maintain their dominance in the sector. A monoclonal antibody is a kind of antibody that is manufactured by homogenous immune cells, all of them clones of a solitary parent cell. For example, in October 2023, Zoetis Inc., a pharmaceutical company based in the US, introduced the Bedinvetmab injection and Oclacitinib chewable tablets which were approved by the Food and Drug Administration (FDA), a federal agency in the US. With FDA approval, Oclacitinib chewable tablets are used for the management of pruritus linked with allergic dermatitis and atopic dermatitis in dogs who are one year old or more, making it the first chewable remedy for allergic itching and inflammation in US dogs. These animal medications are currently available for prescribing by US veterinarians.
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Which regions are most influential in expanding the over-the-counter (otc) pet medication market?
North America was the largest region in the over-the-counter (OTC) pet medication market in 2024. The regions covered in the over-the-counter (OTC) pet medication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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