Global Flea, Tick, and Heartworm Products Market Set to Skyrocket to $4.97 Billion by 2028, Driven by Rising Veterinary Expenditure and e-Commerce Dominance

Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Flea, Tick, and Heartworm Products Global Market Report 2024" report has been added to * ResearchAndMarkets.com's* offering.

The global flea, tick, and heartworm products market has grown rapidly in recent years. It will grow from $2.9 billion in 2023 to $3.24 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to increasing pet ownership, awareness of pet health, advancements in veterinary medicine.

The market is expected to see rapid growth in the next few years. It will grow to $4.97 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to rising veterinary expenditure, global pet population growth, e-commerce growth, climate change impact. Major trends in the forecast period include product innovations, collaborations and partnerships, customization and personalization, e-commerce dominance, technological integration.

Increasing pet adoption is expected to propel the growth of the flea, tick, and heartworm products market going forward. Pet are being adopted as increasing number of the young population are considering them as part of their family, some owners are adopting them for their compassion, loyalty and to prevent loneliness. More clinical care and medications would be needed as pet adoption increased, which would drive the flea, tick, and heartworm products market. 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. Therefore, increasing pet adoption will drive the flea, tick, and heartworm market in the forecasting period.

The increase in the incidence of zoonotic diseases is expected to propel the growth of the flea, tick, and heartworm products market going forward. A zoonotic disease refers to any illness or infection that can spread spontaneously from vertebrate animals to humans or from humans to vertebrate animals. Flea, tick, and heartworm products for pets helps prevent zoonotic diseases, protecting both animals and humans from potential transmission. For instance, in December 2022, according to the European Food Safety Authority, an Italy-based government agency of the European Union, in Europe, there were 127,840 recorded cases of zoonotic diseases in 2021, an increase from 120,946 cases in 2020. Notably, salmonellosis, which affected 60,050 individuals in 2022, surpassed its 2020 count of 52,702 cases, becoming the second-most commonly reported zoonotic disease. Therefore, the increase in the incidence of zoonotic diseases is driving the growth of the flea, tick, and heartworm products market.

Product innovation is a key trend gaining popularity in the flea, tick, and heartworm products market. 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.

Major companies operating in the flea, tick, and heartworm products market are focused on developing natural products to gain a competitive edge in the market. Using natural products for flea, tick, and heartworm prevention offers a safer alternative for pets' well-being. For instance, in July 2022, Pet Wellness Direct, a US-based manufacturer of pet health supplements and food products, launched Protect, a new line of flea shampoo for dogs. The essential components of the shampoo formula include cedar oil, rosemary oil, lemongrass oil, coconut oil, and aloe. VetSmart Formulas also provides a Home and Pet spray for flea prevention. The flea shampoo is suitable for regular use on dogs, and the spray can be applied to carpets, furniture, and bedding to eliminate fleas upon contact, disrupt the flea life cycle, and deter future infestations.

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.

North America was the largest region in the flea, tick, and heartworm products market in 2023. Europe was the second largest region in the flea, tick, and heartworm products market. The regions covered in the flea, tick, and heartworm products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

*Scope*

*Markets Covered:
*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

*Key Companies Mentioned:* Advanced PetCare of Northern Nevada; C. H. Boehringer Sohn AG & Co. KG; Chewy Inc.; Ceva Animal Health Inc.; Covetrus Inc.

*Time Series:* Five years historic and ten years forecast

*Data:* Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

*Data Segmentation:* Country and regional historic and forecast data, market share of competitors, market segments

*A selection of companies mentioned in this report includes, but is not limited to:*

· Advanced PetCare of Northern Nevada
· C. H. Boehringer Sohn AG & Co. KG
· Chewy Inc.
· Ceva Animal Health Inc.
· Covetrus Inc.
· Elanco LLC
· Eli Lilly and Company
· EntirelyPets
· Merck & Co. Inc.
· Penn Veterinary Supply Inc.
· Penny Paws
· Perrigo Company plc
· Petsburgh Pet Care Inc.
· Pipestone Veterinary Services
· Precious Pet Services Pvt. Ltd.
· SPC Pets
· The Hartz Mountain Corporation
· Virbac Inc.
· Wellmark International Inc.
· Zoetis Inc.
· Bayer AG
· Ecto Development Corporation
· Biovet Private Limited
· Novartis AG
· Pfizer Inc.
· Sergeant's Pet Care Products Inc.
· Laboratoire Francodex
· Central Garden & Pet Company
· PetIQ Holdings Inc.
· PetArmor
· PetAction Plus
· PetLock
· Frontline Plus
· K9 Advantix II

For more information about this report visit https://www.researchandmarkets.com/r/ub4lxj

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