Flea, Tick, And Heartworm Products Market to Observe 8.2% CAGR till 2026

The global Flea, Tick, And Heartworm Products Market size is expected to reach USD 6.2 billion by 2026, expanding at a CAGR of 8.2%, according to a new report by Grand View Research, Inc. Increasing prevalence of parasitic infections such as flea, tick, and heartworm (FTH) in pets coupled with rising number of pet proprietorship and their willingness to spend on their animal’s health is expected to drive the market over the forecast period. For instance, the U.S. pet ownership statistics in 2017-2018 describes that the percentage of dogs owned by households in the U.S. was 38.4% and that of cats was 25.4%.

In addition, according to “petsandparasites.org”, the prevalence of parasite diseases such as Anaplasmosis, Ehrlichiosis, and Lyme in the U.S. was 3.85%, 3.04%, and 6.27% respectively, in 2017. However, the total positive cases tested for heartworm in canine population was 128,851 in 2019 with 596 positive cases in feline population. Therefore, with this spike increase in the prevalence of FTH diseases in companion animals, there is a high demand for a safe and effective drugs for their treatment and prevention. Hence, the rising need for these products is anticipated to propel market growth in future.

Introduction of novel FTH therapeutics is one of the key industry growth promoters in coming years. For instance, in November 2018, Zoetis introduced 6-in-1 parasiticide Revolution Plus topical for feline population up to 8 weeks old. On the similar lines, Bayer AG, introduced its product Seresto, a collar against flea and tick in India in April 2019. The product is aimed at providing effective protection up to 8 months. The product has also received the U.S. FDA approval as a preventive treatment for cats.

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https://www.grandviewresearch.com/industry-analysis/flea-tick-heartworm-products-market

Further key findings from the report suggest:

• The canine segment accounted for the largest revenue share as of 2018, owing to increasing number of canine population getting infected with flea, tick, and heartworm borne illness. For instance, according to the published study in Parasites and Vector in 2017, Heartworm, Dirofilaria immitis, is one of the most common and devastating parasitic infection in dogs with prevalence rate presented with dyspnea and cough as high as 51%
• E-commerce distribution channel is anticipated to register significant growth majorly owing to the convenience of the direct delivery. Moreover, wide assortment of products, rising internet penetration, and independent pet store operators with ecommerce sites are further anticipated to increase the market share of this distribution channel in near future
• North America held the dominant market share of as of 2018, due to the favorable government policies, new product launch, and rising investment by the major companies for the treatment and prevention of FTH diseases in pets. For instance, in February 2016, Zoetis introduced chewable parasiticidesSimparica against flea and tick infestations to cater over 3 billion target population
• Asia Pacific is anticipated to witness lucrative growth due to increasing number of pet population with rising urgent need for effective treatment to curb FTH cases and untapped opportunities
• Some of the key companies in the flea, tick, and heartworm products market are Merck & Co., Inc.; Boehringer Ingelheim International GmbH; Virbac, Inc.; Elanco; Ceva; The Hartz Mountain Corporation; Zoetis; Promika, LLC; Sergeant's Pet Care Products, Inc.; and Adams.

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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