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Flea And Tick Product Market Report
Flea and Tick Product Market Trends, Dynamcis & Market Insights
The Flea and Tick Product Market is projected to grow from USD 5.1 billion in 2020 to USD 7.6 billion by 2026 at a CAGR of around 6.8% during the forecast period.
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Fleas and ticks are defined as parasites or insects which feed on pets such as cats or dogs. These infected pets are likely to spread ticks into the human environment. Infection can lead to illness and discomfort in pets. Some of the flea and tick products available in the market include the oral pill, spot-on, powder, shampoo, collar, and others.
Key players operating in the Flea and Tick Product market are-
The growth of the flea and tick product market is primarily driven by increasing incidences of flea and tick-transmitted disease among pets. Rising spending on pet healthcare by the pet owners with growing awareness about the prevalence of this disease is expected to drive the market growth at a significant rate during the review period. In addition to this, increasing pet adoption in developing countries is likely to create lucrative opportunities for the players operating in the global flea and tick product market in the coming years.
By animal type, the flea and tick product market has been bifurcated into a dog, cat, and other. The dog segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment can be attributed to the increasing adoption of dogs as pets worldwide.
By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to the high product adoption rate coupled with the presence of key market players such as Sergeant's Pet Care Products dba PetIQ (US) and Merck & Co., Inc. (US). The market growth in Asia-Pacific is expected to be driven by increasing pet adoption in developing countries such as India and China.
The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the flea and tick product market negatively as supply chain disruptions due to imposition of lockdown affected the product availability on time and thus, affected the market growth.
Here is the list of the group of customers that the flea and tick products market hopes to have the greatest opportunity to convert-
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The flea and tick products market is expected to witness an impressive growth of 6.8% CAGR in the coming years.
Merck & Co., Inc. (US), Virbac (France), CEVA Logistics (Switzerland), Bayer AG (Germany), Sergeant's Pet Care Products dba PetIQ (US), The Hartz Mountain Corporation (US), Ecto Devel-opment Corporation (US), Boehringer Ingelheim Animal Health (France), Eli Lilly and Company (US) and Wellmark International Inc. (US) are among the key players in the flea and tick products market.
The flea and tick products market size is expected to reach USD 7.6 billion in the foreseeable future.
The dog segment is expected to register significant growth in the flea and tick products market in the coming years.
North America accounted for the largest share in the flea and tick products market in 2020.
Flea and tick product distributors, Flea and tick product suppliers, Flea and tick product manufacturers, Logistics organizations, Government bodies are the target audience in the flea and tick products market.
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