The global flea and tick products market is anticipated to expand at a substantial CAGR during the forecast period, between 2020 and 2027. Flea treatments are used to treat flea infestations in animals. The prevalence of flea- and tick-borne diseases in animals has been rising in the recent years. Ectoparasites is a flea- and tick-borne diseases which is not only causes skin allergies and infections, but also transmit several diseases, such as murine typhus, lyme disease, ehrlichiosis, tularemia, rocky mountain spotted fever, tungiasis, bubonic plague, and anaplasmosis. According to the Centers for Disease Control and Prevention, the prevalence of diseases caused by tick and flea bites has increased in the US. Flea and tick bites are painful and irritating and cause a variety of diseases including anaplasmosis, babesiosis, and ehrlichiosis.
Market Trends, Drivers, Restraints, and Opportunities:
- Rise in government initiatives, which are mainly focused on increasing awareness related to prevention of flea and tick diseases is fueling the market growth of the flea and tick market.
- Increase in pet adoption and preparedness to spend on their pets for the treatment of flea and tick diseases and rise in awareness about pet parasitism are anticipated to drive the market.
- High cost of flea and tick products and adverse reaction in animals after their usage is creating hurdles for the penetration of some of the products.
- Growth of the flea and tick products market has been hampered due to the COVID-19, which has disturbed the supply chain and manufacturing activities.
- Fluctuations in raw material prices are likely to impede the market.
- Rising awareness about the health of animals is expected to boost the flea and tick products market during forecast period.
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Flea and Tick Products Market Segment Insights:
Spot on segment is accounted for dominant share of the market
On the basis of product types, the market can be segregated into oral pill, spray, spot on, powder, shampoo, collar, and others. The spot on segment accounts for a large share of the market, as it is easily available and is an effective treatment. Spot on products are used for topical application as it is easy and convenient as compared to other flea, tick, and heartworm products. Furthermore, increase in penetration of oral chewable ectoparasiticide tablets in the market to control fleas and ticks in the companion animals. Increase in the innovation in spot on products by market players is fueling segment growth.
Dogs segment accounts for a dominant share of the market
Based on animals, the flea and tick products market can be classified as dogs, cats, and others. The dogs segment accounted a large share of the market and is anticipated to expand during the forecast period. The soft and lustrous fur of cats and dogs provides an ideal environment for fleas and ticks. Fleas and ticks feed on the pet's blood and cause health problems including allergic reactions, serious tick-borne illnesses. Fleas and ticks are more common during the warmer months. As a result, a varied line of products has been introduced in the market.
Regional Outlook
In terms of regions, the global flea and tick products market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America accounts for a large share of the market, due to the increase in the adoption of pets, rising per capita animal healthcare expenditure, and growing disposable income. However, the market in Europe is anticipated to expand during the in forecast period.
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Competitive Landscape
Key players in the flea and tick products market includes Bayer AG, Ecto Development Corporation, Schering-Plough, Intervet Inc., Virbac, BoehringerIngelheim International GmbH., Zoetis, Bioveta, a.s., Elanco, Merck and Co., Inc, The Hartz Mountain Corporation, Zoetis, Promika, LLC, Sergeant’s Pet Care Products, Inc., Ceva, and Adams. Mergers & acquisitions, collaborations, agreements, and partnerships are some growth strategies adopted by these players to strengthen their geographical presence.
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