According to FutureWise analysis the market for flea, tick, and heartworm products in 2023 is US$ 4.94 billion, and is expected to reach US$ 9.44 billion by 2031 at a CAGR of 8.42%.
There are many parasites and insects in the environment, including fleas and ticks, which are commonly found on dogs and cats. Fleas spread parasites such as bacterial diseases, tapeworms, and roundworms, which cause pets discomfort and illness. Pets are highly susceptible to tick-borne diseases such as Lyme disease, which can be transmitted by ticks. In order to keep pets safe from flea and tick bites, a variety of repellents, insect killers, and growth inhibitors are available on the market. Pet owners are increasingly concerned about the risks associated with flea and tick bites, which is resulting in an increase in demand for flea and tick products. Due to the increasing threat of parasite attacks and itching caused by fleas and ticks, pet care products are becoming safer and more effective. Over the past decade, the companion pet or animal medication market has seen lucrative growth prospects. Pet medication has contributed to an increase in pet ownership costs, as people demand these products to keep their pets healthy. Medication for pets can be categorized into prescriptions and non-prescriptions. A non-prescription medication is also known as an over-the-counter (OTC) medication. There is intense competition among all stakeholders throughout the value chain. In particular, pet owners benefit from competition between veterinary and retail channels when it comes to OTC flea and tick control products. The stakeholders in the pet industry are lowering product prices in order to remain competitive in the market, thereby providing owners with higher convenience and better customer service. Customers' awareness repetitive habits about pet products are expected to drive the demand for flea and tick products in the near future. Globally, changing consumer attitudes toward pets are expected to boost the demand for flea and tick products.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Flea, Tick, and Heartworm Products Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Flea, Tick, and Heartworm Products Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.