Flea and Tick Product Market: Snapshot
Fleas and ticks are insects or parasites that feed on pets such as cats or dogs. Lyme disease is one of the harmful diseases found in pets, which is spread by ticks. Moreover, these infected pets can be responsible for the spread of ticks into human environment, which can lead to illness from tick bite. Spread of bacterial diseases and parasites such as roundworms and tapeworms is majorly found to be carried by fleas. Infection can lead to illness and discomfort in pets and signifies increased need to take initiatives to control the spread these pests. Thus, vendors in the global flea and tick product market have plentiful avenues for the development of their businesses.
The segmentation of the global flea and tick product market is performed based on pet type, product type, and method. At present, commercially available options such as insect killers, repellents, and growth inhibitors are used to protect pets from flea and tick bites.
Increasing Awareness about Pets’ Health Opens New Avenues for Market Growth
With the growing need for companionship, major worldwide population is inclined toward having at least one pet animal in their homes. As these people spend a huge time with their pets, the need to keep these animals healthy has occurred. This situation has pushed people to increase their spending on the health of these animals, which is driving the flea and tick product market.
Many players are chasing strategies of introducing new products in the global flea and tick product market. These moves are helping them to attract new customer base together with maintaining the existing one. Based on pet type, the global flea and tick product market is bifurcated into cat, dog, and others.
Some of the major players in the global flea and tick product market are Virbac Corporation, Merck Animal Health (Merck & Co., Inc.), Bayer AG, Ceva Sante Animale S.A., The Hartz Mountain Corporation, Ecto Development Corporation, and Sergeant’s Pet Care Products, Inc.
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Global Flea and Tick Product Market – Snapshot
Fleas and ticks refer to both parasites and insects that are omnipresent in the environment, commonly affecting dogs and cats. Fleas can play a major role in diffusing parasites such as bacterial diseases and tapeworms and roundworms, which cause discomfort and illness to pets. Ticks are considered to be very harmful for pets, causing transmission of diseases such as Lyme disease. Pets may bring ticks into the human environment, causing illness from a tick bite. Hence there is a growing need to control these pests. There are several repellents, insect killers, as well as growth inhibitors that are available commercially within the market to protect pets from flea and tick bites.The global flea and tick product market is segmented by product type, pet type,and method. In terms of product type, the market is segmented into chewable and spot on. The chewable segment is further sub segmented into fluralaner, valerian, chamomile, and others. Under the spot on segment, the market is segmented into methoprene, fipronil, moxidectin, and others. On the basis of method, the flea and tick product market is segregated into internal and external. Based on pet type, the market is segmented into dog, cat, and others.
Increasing awareness of pet care to protect pets from the threat of parasite attacks and itching caused due to fleas and ticks has led to the rising demand for safe and effective healthcare products such as multi vitamin & amino acid supplements, flea and tick products, oral care etc. Consequently, the market for companion pets and animal medication has been witnessing lucrative growth prospects from the last decade. The availability of pet medication has led to the increase in cost of pet ownership, as consumers are demanding these products in order to keep their pets healthy. The industry is characterized by high competition between all the stakeholders of the value chain. As pet owners are provided with several benefits, stakeholders are lowering product prices in order to remain competitive in the industry, thereby providing pet owners with high convenience and improved services. Awareness and repetitive habits of consumers relying on these pet products are expected to drive the demand for flea and tick products in the near future. Additionally, changing consumer attitude toward pets, and product availability through different channels are also major factors that have led to the rise in demand for flea and tick products.
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On the basis of geography, the global flea and tick product market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America dominated the global flea and tick market followed by Europe. The rising awareness about proper health and wellness of pets among the population in these regions has resulted in the dominance of North America and Europe in the flea and tick product market.
The flea and tick product market consists of a large number of public and private players. The market players focus on developing new products to satisfy the changing consumer preferences. Rise in advancements in technology and strategic acquisitions are the key competitive strategies adopted by the top players. Some of the major players of the flea and tick market are Merck Animal Health (Merck & Co., Inc.), Virbac Corporation, Ceva Sante Animale S.A., Bayer AG, Sergeant’s Pet Care Products, Inc., The Hartz Mountain Corporation, Ecto Development Corporation, Wellmark International, Inc., Merial Animal Health Limited, and Eli Lilly and Company. The report also highlights the competitive landscape of the key players in the flea and tick product market.