Flea, Tick, and Heartworm Products Market

COVID-19 Impact Analysis

The COVID-19 pandemic is wreaking havoc on businesses and has already resulted in an unprecedented collapse of economic activity globally. The misconception that animals can carry the virus to people has resulted in a rise in the number of abandoned pets. Furthermore, COVID-19 has undermined the supply chain in the animal health industry, resulting in a global shortage of animal health products such as nutritional feed and vaccines. Many manufacturers in the animal health industry have been seriously hit, leaving them with a significantly decreased workforce.

Healthcare facilities are stockpiling animal-related health products. Due to procurement inefficiencies and waste speeding, this is projected to put an additional financial strain on the market. Many hospitals and veterinary clinics are overstocked due to the COVID-19pandemic. This is projected considerably influence the global market for flea, tick, and heartworm products.

Top Impacting Factors

• The increase in the prevalence of parasitic infections such as flea, tick, and heartworm (FTH) in pets is expected to drive the market over the forecast period.
• The rise in the number of pet proprietorship and their willingness to spend on their animal’s health is expected to contribute to the growth of the market. 
• The rise in product innovation, such as new formula launches by key players is further anticipated to help the market for flea, tick, and heartworm products to grow at a significant rate over the forecast period.
• In addition, supportive government initiatives aimed to increase the awareness related to the prevention of flea, tick, and heartworm diseases are a significant contributor to the market growth. 
• Moreover, the surge in the disposable income and the rise in per capita animal healthcare expenditure are factors contributing to the market growth. 
• However, the high cost of the products and adverse reactions in animals after their usage is expected to restrain the market growth to some extent. 

Market Trends

New Product Launches to Flourish Flea, Tick, Heartworm Products Market

In July 2019, Zoetis received the U.S.FDA approval for ProHeart 12 (moxidectin) injectable suspension for the prevention of heartworm disease caused by irofilaria immitis speciesin dogs.

In January 2019, Ceva introduced heartworm preventive, MilbeGuard that contains an active ingredient used in popular canine medications, such as Interceptor Plus, Sentinel Flavor Tabs, and Trifexis.

In April 2019, Bayer AG introduced its product Seresto, a collar against flea and tick in India. 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.

In recent years, there has been a dramatic increase in the occurrence of flea and tick-borne diseases in animals. Ectoparasites not only cause skin allergies and infections, but they also spread diseases such as ehrlichiosis, Rocky Mountain spotted fever, bubonic plague, tularemia, murine typhus, Lyme disease, tungiasis, and anaplasmosis. According to the Centers for Disease Control and Prevention, infections caused by tick and flea bites tripled in the U.S. between 2004 and 2016. According to the data, 96,075 disease cases were reported in 2016, with Lyme disease accounting for 26,203 of them. According to a study published in the journal 'Elsevier' in April 2018, over 80% of fleas sampled from cats carried at least one bacterium that causes infection in cats or humans.

Key Benefits of Report

• This study presents the analytical depiction of the flea, tick, and heartworm products along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the flea, tick, and heartworm products market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the flea, tick, and heartworm products market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed flea, tick, and heartworm products market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in Flea, Tick, and Heartworm Products Market Report

• Who are the leading market players active in the flea, tick, and heartworm products market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the flea, tick, and heartworm products market?
• What future projections would help in taking further strategic steps?
• What is flea, tick, and heartworm products?
• What is flea, tick, and heartworm products market prediction for the future?
• Who are the leading global players in the market?
• What are the current trends and predicted trends?
• What are the key benefits of the flea, tick, and heartworm products market report?