Market Trends of Flea And Tick Product Industry
Dog Segment Expected to Witness Significant Growth During the Forecast Period
Dogs' soft, warm fur provides an inviting habitat for fleas and ticks. These parasites feed on the dogs' blood and can trigger health problems, from mild allergic reactions to serious tick-borne diseases. As these pests thrive more in warmer months, a range of products has been developed to combat them.
As the pet dog population grows, especially in developed nations, the demand for flea and tick control products increases. Companies are focusing on introducing new products that prevent the dig from fleas and ticks, thereby boosting the segment’s growth. For instance, in January 2024, Neogen Corporation introduced the Provecta Pro Flea & Tick Collar for Dogs, catering to canines 12 weeks and above. This collar, featuring Deltamethrin and (S)-Methoprene as its active ingredients, ensures a comprehensive shield against fleas, ticks, and mosquitoes for a notable six-month period. The collar boasts a flexible fit and a breakaway buckle crafted with a focus on pet comfort and safety.
Moreover, product launches play a pivotal role in driving the market’s growth. For instance, in July 2022, Pet Wellness Direct unveiled its latest flea shampoo, "Protect," designed to shield dogs from flea infestations. These product introductions diversify the range of innovative offerings and significantly propel the market's expansion.
As a result, the dog segment is anticipated to experience significant growth during the forecast period, fueled by the rising adoption of dogs and increased product launches.
North America Expected to Hold Significant Market Share During the Forecast Period
North America is poised for substantial market growth, driven by rising adoption rates of companion animals, increasing disposable incomes, heightened per capita spending on animal healthcare, and a surge in product innovations.
Pet adoption has been on the rise in North America, and it is expected to boost the demand for flea and tick products for the well-being of pets. For instance, according to the Shelter Animal Counts 2023, 109,000 more dogs were adopted in 2023, and 34,000 more cats were adopted in 2023. Thus, growing adoption is expected to increase spending on healthcare and treatment as this animal is more susceptible to fleas and ticks, thereby boosting the demand for treatment during the forecast period.
Moreover, as pet ownership rises in the region, so does the uptake of pet insurance, a trend poised to further propel the growth of the flea and tick market. For instance, data published by the North American Pet Health Insurance Association (NAPHIA) in May 2024 showed that 6.25 million pets were insured in North America at the end of 2023, a 20.9% increase from the 5.17 million pets insured in 2022. Thus, a high number of pet insurance companies in the region are expected to increase the treatment adoption rate, thereby boosting the demand for the market during the forecast period.
Moreover, significant actions taken by regional market players are poised to further stimulate the market’s growth. For instance, in January 2023, Merck Animal Health secured approval from the United States Food and Drug Administration for its BRAVECTO Chews, specifically designed to treat Asian long-horned ticks in dogs.
Consequently, driven by rising pet adoption rates and substantial spending on animal healthcare, the North American region is projected to witness robust growth in the market studied.
