28.07.2021 19:30

U.S. Pet Medications Market Report 2021 with Primary Focus on Parasiticides Including Flea/Tick and Heartworm Prevention

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DUBLIN, July 28, 2021 /PRNewswire/ -- The "Pet Medications in the U.S., 7th Edition" report has been added to ResearchAndMarkets.com's offering.

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Posting double-digit sales growth 2020 - the largest single-year increase in the past decade - the pet medications market not only navigated the COVID-19 pandemic but continued to thrive, given increased focus on pet health and wellness and the surge in pet adoption and acquisition brought on by the pandemic.

Ending 2020 with $10.8 billion in sales, up nearly 13% from 2019, the pet meds market initially faced an uphill battle given the closures of vet clinics and retail stores, threats to production and supply lines, and economic hardship that could have potentially translated into reduced consumer spending on pet care.

None of these factors were enough to offset the fact that pet owners - committed to their own health and wellness - were equally determined when it came to keeping their pets safe and sound, leading to above-average growth in key pet medication segments including prescription and over-the-counter parasiticides.

The veterinary sector - long the primary sales channel for pet medications - managed to exceed expectations and ended the year with higher-than-average growth by leveraging "concierge" pet drop-off/pick-up services and remote treatment options such as telemedicine.

At the same time, the pandemic drove overall pet product sales further online, and pet medications were no exception, with 16% of retail sales occurring over the internet, fueled by the "right place at the right time" presence of new market components including Chewy's Rx compounding service and TractorSupplyRx, as well as the continued success of WalmartPetRx and Petco's online pharmacy.

Pet Medications in the U.S., 7th Edition examines these and other opportunities for growth in the pet medications market, with a primary focus on parasiticides including flea/tick and heartworm prevention, which are broken out at multiple levels including by product type, animal type, and prescribed vs. OTC.

The discussion extends to market-shaping developments in areas including prescription pain management, vaccines, and cancer drugs and over-the-counter first aid products, with numerous images illustrating marketing and product trends.

Key Topics Covered:

Executive Summary

Market Trends

  • Scope and Methodology
  • Market Size & Composition
  • Market Outlook
  • Looking Ahead
  • Competitive Overview
  • Retail Trends

Prescription Products

  • Prescription Products Share of Market
  • Marketer Profiles
  • Marketing and New Product Trends

OTC Products

  • OTC Pet Medications Share of Market
  • Marketing and New Product Trends

Consumer Trends

  • Pet Population and Pet Ownership Trends
  • Pet Acquisition in Response to COVID-19
  • Pet Medication Purchasing Patterns by Product Type
  • Pet Medication Purchasing Patterns by Channel
  • Market Opportunities
  • Opportunity 1 - Increased Focus on Health and Wellness
  • Opportunity 2 - Pet Population Boom
  • Opportunity 3 - Senior Pets
  • Opportunity 4 - Omnichannel Marketing
  • Opportunity 5 - Autoship and Subscriptions
  • Opportunity 6 - Felines
  • Opportunity 7 - Veterinary Sector Growth
  • Opportunity 8 - New Products Fueled by Generics and Patent Expiration
  • Opportunity 9 - Affordability
  • Opportunity 10 - Combo Products

Market Trends

Chapter Highlights

Scope and Methodology

  • Market Definition
  • Product Regulation
  • Report Methodology

Market Size & Composition

  • U.S. Retail Sales of Pet Medications Approach $11 Billion in 2020
  • Share of Sales by Animal Type
  • Share of Sales by Distribution Channel
  • Pet Medications Sales by Pet-Owning Household
  • Share of Sales by Product Type
  • Parasiticide Sales by Type

Market Outlook

  • COVID Has Positive Impact on Pet Medications Market
  • Increased Focus on Health and Wellness
  • COVID Economy Impact on Pet Owner Spending Mindset
  • Pandemic Fuels Pet Population Boom
  • Innovation Spurred by Cost, Convenience, and Safety
  • Veterinary Sector Rebounds After COVID Shutdowns
  • Pet Medications Sales Shifting to Online Platforms
  • Parasiticide Use Hindered by Product Confusion, Perception of Risk
  • Aging, Overweight Pets More Likely to Require Medication
  • Competition from Supplements and Pet Food/Treats
  • FDA Adds Product to Isoxazoline Warning
  • COVID-Related Ivermectin Abuse

Looking Ahead

  • Pet Medication Sales to Reach Nearly $15 Billion by 2025

Competitive Overview

  • Prescription and OTC Marketers
  • M&A and Investment Activity
  • Global and U.S. Conglomerates Dominate Pet Medications Market
  • Generics Increasing Competition and Spurring Innovation

Retail Trends

  • Veterinarian Top Destination for Pet Meds Purchases
  • E-Commerce Attracts New Participants
  • Pet Specialty Brick & Mortar Stores Focus on OTC Medications

Prescription Products

Chapter Highlights

Prescription Products Market Share

  • Prescription Products Account for Three-Fourths of Pet Medications Market

Marketer Profiles

  • Dozens of Marketers Participate in Prescription Pet Medications Market
  • Boehringer Ingelheim Animal Health
  • Elanco
  • Merck Animal Health
  • Virbac
  • Zoetis

Marketing and New Product Trends

  • Parasiticides
  • Flea and Tick Products
  • The Heartworm Market
  • Combination Products
  • Broad Spectrum Wormers
  • Vaccines and Other Drugs

OTC Products

Chapter Highlights

  • OTC Pet Medications Account for 23% of Market

Marketer Profiles

  • OTC Marketers Focus on Parasiticides, First Aid Products
  • Central Garden & Pet
  • Ceva Animal Health
  • Hartz Mountain Corp.
  • PetIQ
  • Vetoquinol

Marketing and New Product Trends

  • Parasiticides
  • Table Examples of Leading Over-the-Counter Flea/Tick Brands, 2021
  • Flea and Tick Products
  • Broad Spectrum Wormers and Mite Treatments
  • First Aid Products
  • Natural Products

Consumer Trends

Chapter Highlights

Pet Population and Pet Ownership Trends

  • Pet Ownership Rates
  • From Smaller Dogs to Medium
  • Age of Dog and Cat Population

Pet Acquisition in Response to COVID-19

  • Surge in Pet Acquisition and Adoption
  • First-Time Pet Owners
  • Multiple Pets, Multiple Types of Pets
  • COVID Motivators for Pet Acquisition
  • Pet Population Churn
  • Pet Acquisition by Generational Cohort
  • Pet Gifting for Winter Holidays 2020

Pet Medication Purchasing Patterns by Product Type

  • Purchasing Rates by Product Type
  • Two-Thirds of Dog or Cat Households Use Parasiticide Products
  • Tablet/Oral Medications Now Most Popular Type
  • Oral Flea/Tick Medication More Popular Among Dog Owners
  • Parasiticide Usage by Number, Age of Pets
  • FRONTLINE Most Frequently Used Flea/Tick Brand
  • Demographics by Parasiticide Type
  • Demographics for Parasiticide Brands

Pet Medication Purchasing Patterns by Channel

  • Vet Clinics Most Frequently Used Channel for Pet Meds Purchases
  • APPA Data Show Similar Purchase Patterns
  • Shopping Patterns by Channel
  • Convenience Prime Motivator for Online Purchases
  • Comfort Level, Convenience Driving Factors in Vet Clinic Purchases
  • Parasiticide Purchase Patterns by Channel
  • Share of Spending on Pet Medications by Channel

Companies Mentioned

  • Boehringer Ingelheim Animal Health
  • Central Garden & Pet
  • Ceva Animal Health
  • Elanco
  • Hartz Mountain Corp.
  • Merck Animal Health
  • PetIQ
  • Vetoquinol
  • Virbac
  • Zoetis

For more information about this report visit https://www.researchandmarkets.com/r/c06k2z

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com   

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Cision View original content:https://www.prnewswire.com/news-releases/us-pet-medications-market-report-2021-with-primary-focus-on-parasiticides-including-fleatick-and-heartworm-prevention-301343258.html

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