United States Pet Medications Markets Report 2022-2023 & 2027 - Primary Focus on Parasiticides Including Flea/Tick and Heartworm Prevention

DUBLIN, July 10, 2023 /PRNewswire/ -- The "Pet Medications in the U.S., 7th Edition" report has been added to ResearchAndMarkets.com's offering.

The pet medications market surpasses $12 billion for the first time in 2022, and the publisher expects growth to continue at a modest but steady pace through 2027. 

For more than a year, the US has seen unrelenting inflation across all consumer packaged goods categories, and pet owners have not been spared.

For the pet medications market, 2020 and 2021 were boom years, but the market's lackluster 3.7% growth during 2022 is actually indicative of unit sales losses stemming from higher prices, fewer veterinary visits, and a declining dog population. At the same time, a strong pipeline of patented prescription drugs is helping to keep dollar sales growing.

Pet health remains the foremost market driver, bolstered by the pandemic and the intensified human/animal bond. Also working in the market's favour is more convenient access to prescription pet medications available online, with Chewy, WalmartPetRx, Petco, and PetSmart all diving in headfirst. 

Pet Medications in the U.S., 8th Edition examines these and other opportunities for market growth, with a primary focus on parasiticides including flea/tick and heartworm prevention. Coverage also extends to other market-shaping developments, with numerous images illustrating marketing and product trends.

Key Topics Covered:

CHAPTER 1: EXECUTIVE SUMMARY

• MARKET TRENDS
• Scope and Methodology
• Market Size & Composition
• Market Outlook
• Looking Ahead
• Competitive Overview
• Retail Trends
• PRESCRIPTION PRODUCTS
• Prescription Products Market Share
• Marketer Profiles
• Marketing and New Product Trends
• OTC PRODUCTS
• OTC Product Sales
• Marketer Profiles
• Marketing and New Product Trends
• CONSUMER TRENDS
• Pet Medication Purchasing Patterns
• Parasiticide Purchasing Patterns by Channel
• MARKET OPPORTUNITIES
• Opportunity 1 - Increased Focus on Health and Wellness
• Opportunity 2 - Affordability
• Opportunity 3 - Bolstering the Veterinary Sector
• Opportunity 4 - Omnichannel Marketing
• Opportunity 5 - Senior Pets
• Opportunity 6 - Felines
• Opportunity 7 - New Products Fueled by Generics and Patent Expiration
• Opportunity 8 - Innovations in Human Health
• Opportunity 9 - Gen Z and Millennials

CHAPTER 2: MARKET TRENDS

• CHAPTER HIGHLIGHTS
• SCOPE AND METHODOLOGY
• Market Definition
• Product Regulation
• Report Methodology
• Generational Breakouts
• MARKET SIZE & COMPOSITION
• Inflation Impacts Pet Medications Market
• US Retail Sales of Pet Medications Top $12 Billion in 2022
• 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
• Table 2-6. Share of US Retail Sales of Pet Medications by Product Type, 2022 (percent and dollars in millions)
• Parasiticide Sales by Type
• MARKET OUTLOOK
• Pet Owners Buffeted by Economic Pressures
• Pet Medications Not Spared Substantial Headwinds
• Pet Medication Sales Threated by Higher Prices, Drop in Vet Usage
• Even Higher-Income Households Impacted By Inflation
• Intensified Focus on Health and Wellness
• Pet Medications Among Top Pet Health Products
• Owners Continue to Spend on Pet Health
• Pet Obesity and Aging Pets Contribute to Health Concerns
• "Pets as Family"
• Declining Dog Population
• Younger Pet Owners May Give Up Pets
• Pet Medication Sales Dependent on Challenged Veterinary Sector
• Fairness to Pet Owners Fails to Pass Once Again
• E-Commerce Impacts Pet Medication Sales
• Supply Chain Issues Persist
• Pet Medication Supply Impacted by Human Medication Demand
• Parasiticide Use Hindered by Product Confusion, Perception of Risk
• FDA, EPA Issues Warnings
• FDA Delays Draft Guidance for Heartworm Disease Prevention Products
• FDA, AVMA Target Illicit Use of Veterinary Drugs
• Competition from Supplements and Pet Food/Treats
• LOOKING AHEAD
• Pet Medication Sales to Reach $14 Billion by 2027
• COMPETITIVE OVERVIEW
• Prescription and OTC Marketers
• M&A and Investment Activity
• Vetnique Labs Acquired by Gryphon Investors
• PetMed Express Acquires PetCareRx, Invests in Telemedicine Platform
• Dechra Eyes Offer From Investment Firm
• Clayton, Dubilier & Rice Acquires Covetrus
• Manna Pro Rebrands as Compana Pet Brands
• Bessemer Invests in Pet Flavors
• Neogen Acquires CAPInnoVet
• Global and US Conglomerates Dominate Pet Medications Market
• Pet Medications Market Increasingly Linked to Other Animal Health Areas
• Innovation Spurred by Cost, Convenience, and Safety
• Mars' Companion Venture Fund
• Nestle Purina Pet Care Innovation Prize
• Generics Increasing Competition and Spurring Innovation
• FDA Addresses Compounded Pet Medications
• RETAIL TRENDS
• Veterinarian Top Destination for Pet Meds Purchases
• Prescription Parasiticides Most Frequently Purchased in Vet Channel
• Veterinary Loyalty More Common Among Older Pet Owners
• E-commerce Continues to Accelerate
• E-Commerce Share of Market
• Younger Pet Owners More Likely To Purchase Pet Medications Online
• Chewy Top Destination for E-commerce Pet Medication Purchases
• E-commerce Retailer Loyalty Lacking Among Prescription Pet Medication Purchasers
• The Omnipresent Internet
• E-Commerce Attracts New Participants
• Petco Quietly Partners with Vetsource for Prescription Fulfillment
• Pet Supplies Plus Expands Offerings to Include Prescription Products
• PetSmart Resumes Online Prescription Program Through Allivet
• Pet Specialty Brick & Mortar Stores Focus on OTC Medications

CHAPTER 3: PRESCRIPTION PRODUCTS

• CHAPTER HIGHLIGHTS
• PRESCRIPTION PRODUCTS MARKET SHARE
• Prescription Products Account for 80% 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
• Pet Owners Choose Between Flea/Tick, Heartworm, or Combination Products
• Flea and Tick Products
• NexGard
• Simparica
• Comfortis, Credelio, and Program 6
• BRAVECTO
• The Heartworm Market
• Combination Products
• Broad Spectrum Wormers
• Vaccines and Other Drugs
• Working Toward a COVID-19 Vaccine for Pets

CHAPTER 4: OTC PRODUCTS

• CHAPTER HIGHLIGHTS
• OTC PRODUCT SALES
• OTC Products Account for 20% of Overall Pet Medications 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
• Flea and Tick Products
• FRONTLINE Plus
• Advantage II, Advantage XD, Advantus, and K9 Advantix II
• Seresto Flea/Tick Collar Turmoil
• EFFIPRO PLUS and EFFITIX PLUS
• Catego and Vectra/Vectra 3D
• Activyl and Activyl Protector
• Adams and Zodiac
• UltraGuard
• Advecta, Capstar, NextStar, PetArmor, and Sergeant's
• Broad Spectrum Wormers and Mite Treatments
• Natural Products
• First Aid Products

CHAPTER 5: CONSUMER TRENDS

• CHAPTER HIGHLIGHTS
• PET MEDICATION PURCHASING PATTERNS
• Purchasing Rates by Product Type
• Pet Medication Purchasing Frequency
• Two-Thirds of Dog or Cat Households Use Parasiticide Products
• Nearly Half of Dog Owners Use Oral Parasiticides
• Parasiticide Usage by Number, Age of Pets
• FRONTLINE Most Frequently Used Flea/Tick Brand
• PARASITICIDE PURCHASING PATTERNS BY CHANNEL
• Vet Clinics Most Frequently Used Channel for Parasiticide Purchases
• APPA Data Show Similar Purchase Patterns
• Cross-Shopping Patterns by Channel
• Pet Owners More Likely to Purchase Medication at Veterinary Clinic
• Share of Spending on Prescription Pet Medications by Channel
• Table 5-10. Share of Spending on Prescription Pet Medications by Channel, 2023 (percent of prescription pet medication purchasers)
• Changes in Parasiticide Purchasing

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

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