The demand within the global flea and tick products market is expected to rise with growing adoption of pets across the globe. The comfort of their pets is the top-most priority for pet-owners. The use of flea and tick products ensures the wellbeing of dogs, cars, and other pets. The adoption rate of dogs and cats has increased over the past decade, and flea products are most commonly used for these two animals. Hence, the global flea and tick products market is projected to accumulate increased revenues in the years to follow.
Several new investment entities have emerged within the global flea and tick products market. The investing entities in the global flea and tick products market have weighed the favourable dynamics of investment against the unfavourable ones. Furthermore, these entities have also conducted rigorous sampling and analysis of pet owners to determine the lucrative prospects within the flea and tick products market. The propensity of the masses towards providing a high standard of living to their pets has also given a thrust to market growth.
Transparency Market Research (TMR) predicts that the global flea and tick products market would expand at a stellar pace in the years to follow. The CAGR of the global flea and tick products market for the duration between 2018 and 2026 is estimated to be 9.75%. Furthermore, the total value of the global flea and tick products market is projected to touch US$ 10,115.21 Mn by 2026. The most distinct driver of demand within the global flea and tick products market is the rising incidence of flea infections in dogs and cats.
Growing Pet Ownership to Propel Market Demand
The adoption of pets, especially cats and dogs, has gathered swing across several western regions. 36.5% of people in the US own a dog, while 30.4% of the people pet cats. These figures are important for market vendors who are planning to expand their operations to the US. Furthermore, the sense of satisfaction associated with petting of animals has also played a vital role in the growth of the global flea and tick products market. The revenue index of the global flea and tick products market is expected to improve by leaps and bounds in the years to follow.
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Advancements in the Domain of Veterinary Care
The rising number of veterinary practitioners has made it easier for pet owners to determine the kind of flea that affects their pet. Hence, the global flea and tick products market is projected to become a haven of opportunities in the years to follow. Furthermore, proper veterinary care ensures that pet owners buy the right products for their pets. This factor has given a thrust to the demand for specialised flea and tick products.
North America to Lead Market Growth
On the basis of geography, the global flea and tick products market can be segmented into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. The flea and tick products market in Europe is expanding on account of the growing adoption of pets in the region. Furthermore, the growing propensity towards adoption of dogs in China and India has given a thrust to the Asia Pacific market.
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Some of the leading vendors in the global flea and tick products market are Bayer AG, Ceva Sante Animale S.A. (Libourne, France), and Sergeant’s Pet Care Products, Inc.
The review is based on TMR’s report titled, “Flea and Tick Product Market (Product Type – Chewable (Fluralaner, Valerian, Chamomile), Spot On (Methoprene, Fipronil, Moxidectin); Method – Internal, External; Pet Type – Dog, Cat and others)) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”.
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