OTC Pet Medication Market Size – By Medication Type (Flea & Tick, Pain & Allergy, Wormers & Dewormers, Dental Care), Pet (Dogs, Cats, Birds), Form (Chews, Treats, Capsule, Ointment), Distribution Channel (Pharmacy, Pet Specialty), Global Forecast (2023-2032)
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Animal Health and Nutrition | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationOTC Pet Medication Market Size – By Medication Type (Flea & Tick, Pain & Allergy, Wormers & Dewormers, Dental Care), Pet (Dogs, Cats, Birds), Form (Chews, Treats, Capsule, Ointment), Distribution Channel (Pharmacy, Pet Specialty), Global Forecast (2023-2032)
OTC Pet Medication Market Size
OTC Pet Medication Market size was valued at USD 8.1 billion in 2022 and is anticipated to grow at a CAGR of 6.5% from 2023 to 2032. The market is driven by increasing pet ownership, growing awareness among pet owners regarding the importance of preventive healthcare, rising adoption of pet insurance, and increasing spending on animal healthcare.
To get key market trends
Hey there, pet lovers! With more and more of us welcoming furry (or scaly, or feathery) friends into our homes, the demand for pet care products like over-the-counter medications is on the rise. According to the experts at the American Pet Products Association, nearly two-thirds of households in the U.S. have a pet, which is a whopping 86.9 million families! And they're not just sharing their homes, they're investing in their pets' health and happiness. In the past year, pet owners in the U.S. alone spent over $31 billion on supplies, pets, and over-the-counter medications. And that number is only expected to grow! So, if you're like me and your furry friend means the world to you, you're part of a growing trend of pet parents who want to keep their companions healthy and comfortable. And that means over-the-counter medications are becoming more and more important as we care for our furry (or scaly, or feathery) family members.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| OTC Pet Medication Market Size in 2022 | USD 8.1 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6.5% |
| 2032 Value Projection | USD 15.2 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 158 |
| Tables, Charts & Figures | 278 |
| Segments covered | Medication Type, Pet Type, Form, Distribution Channel, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
COVID-19 Impact
The COVID-19 pandemic had a significant impact on the OTC pet medication market. During the pandemic, there was a surge in pet adoption and ownership as people sought companionship and emotional support. The increased pet population directly translated into higher demand for pet healthcare products, including OTC medications. This boost in pet ownership positively impacted the market revenue.
However, the pandemic led to disruptions in veterinary services, including limited access to veterinary clinics, postponed non-essential appointments, and increased demand for emergency care. In such situations, pet owners turned to OTC pet medications to manage minor health issues or to bridge the gap until they could access veterinary services. This surge in demand for OTC medications compensated for the temporary decline in veterinary services, bolstering the market value.
OTC Pet Medication Market Trends
Just like everything in life, the pet medication market is influenced by different trends that mold it and help it expand. You know how we're all about taking care of our pets? Well, that's one of the trends – focusing more on preventing problems than treating them later. People are also digging natural and herbal remedies for their furry friends. It's like the latest thing in pet care! And let's not forget those amazing advances in how medications are given - it's making life so much easier for both pets and pet parents. Another trend that's been growing is the idea of customized care for each pet. It's like we're treating them as individuals, with their own unique needs. And of course, we can't forget the e-commerce revolution. Pet owners love the convenience of buying meds online, having them delivered straight to their doorstep. Online shopping has a wider range of products, better prices, and it's so easy to do, which makes it super popular.
OTC Pet Medication Market Analysis
Learn more about the key segments shaping this market
Pet owners are always looking for ways to keep their furry friends healthy and comfortable. That's why the market for over-the-counter pet medications is booming, with flea and tick control leading the pack. It's no wonder, given that these nasty pests can make life miserable for your pet with skin irritation, itching, allergies, and even worse, transmit diseases. In 2022, almost half of the OTC pet medication market was all about flea and tick control. Pet owners are spending more and more on their furry companions, and with the growing number of parasites out there, keeping those pesky parasites at bay is a top priority.
Moreover, additional factors such as the development of specialized flea and tick control for different animal species and treatment requirements, the expansion of veterinary healthcare services, and the increasing emphasis on animal welfare, further propel the demand for flea and tick control in the market.
Learn more about the key segments shaping this market
Based on pet type, the OTC pet medication market is segmented as dogs, cats, birds, fishes & reptiles, and other small pets. The dogs segment held dominant market share of around 36.3% in 2022 and is expected to grow at a significant pace during the forecast period. The increasing number of households adopting dogs and increasing spending on dog's healthcare drives the market progress.
The over-the-counter (OTC) pet medication market has different types of products, like chews and treats, capsules and ointments, sprays, and others. In 2022, the capsules and ointments part was the biggest, making around $3.6 billion. And it's expected to keep growing by a good amount, about 6.2% each year from 2023 to 2032. This growth is because more people have pets, and they're more aware of their health. So, there's a bigger need for pet meds that are easy to use and work well. Pet owners want to find ways to keep their furry friends healthy and are looking for OTC options. Capsules and ointments are convenient and let owners take care of their pets' health quickly and easily.
Based on distribution channel, the OTC pet medication market is segmented as drug & pharmacy stores, pet specialty stores, veterinary clinics and hospitals, online retailers, and other distribution channels. The drug & pharmacy stores segment held a dominant market share of 40.6% in 2022 and is expected to grow at a CAGR of 6% between 2023 to 2032. Drug and pharmacy stores provide convenient access to a wide range of OTC pet medications. These stores are often located in easily accessible locations within communities, making it more convenient for pet owners to purchase medications for their pets.
Moreover, the online retailers segment is expected to grow at fastest rate of 7.4%. Online retailers provide a convenient and accessible platform for pet owners to purchase OTC pet medications. Pet owners can browse and order products from the comfort of their homes, saving time and effort compared to visiting physical stores. This is expected to drive the segment expansion.
Looking for region specific data?
North America OTC pet medication market accounted for significant revenue in 2022 and is expected to reach USD 5.4 billion in 2032 with a CAGR of 6.3% from 2023-2032. North America has a high rate of pet ownership, with a significant number of households having at least one pet. The growing trend of pet ownership in the region creates a substantial consumer base for OTC pet medications. As pet owners become more concerned in their pets' health and well-being, the demand for over-the-counter drugs to address common health conditions grows.
Furthermore, North America has a well-developed veterinary healthcare industry, offering advanced and high-quality healthcare products for pets. This includes OTC pet medications that cater to a wide range of health conditions. The availability of advanced healthcare products ensures that pet owners have access to a diverse range of OTC medications to address their pets' specific needs, leading to market growth in North America region.
OTC Pet Medication Market Share
Some of the major market players operating in the OTC pet medication market are
- Zoetis Inc.
- Merck & Co., Inc.
- Elanco Animal Health Incorporated
- Boehringer Ingelheim International GmbH
- Ceva Sante Animale
- Virbac
- Vetoquinol
- PetIQ, LLC.
- Norbrook
- Bimeda, Inc.
These players focus on strategic partnerships, new product launch & commercialization for market expansion.
OTC Pet Medication Industry News
- In April 2022, PetMed Express, Inc., announced an exclusive partnership and investment with Vetster Inc., a major veterinary telemedicine and pet-care marketplace. PetMeds became the official e-commerce seller of pet medication for Vetster, and Vetster became the exclusive provider of telehealth and telemedicine services to PetMeds clients as a result of the agreement. Customers of PetMeds can use vetster's technology to communicate with a veterinarian from home or while travelling as part of the agreement, and PetMeds provides rapid and accurate delivery of prescriptions and over-the-counter pet medications.
- In May 2021, Elanco Animal Health introduced first oral flea and tick product for cats, credelio cat (lotilaner), a small, chewable product that maintains fast-acting, sustained flea efficacy throughout the month in cats 8 weeks and older.
The OTC pet medication market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments
Click here to Buy Section of this Report
By Medication Type, 2018 - 2032 (USD Million)
- Flea and tick control
- Wormers and dewormers
- Dental care
- Nutritional supplements
- Skin and coat care
- Pain and allergy relief
- Other medication types
By Pet Type, 2018 - 2032 (USD Million)
- Dogs
- Cats
- Birds
- Fishes & reptiles
- Other small pets
By Form, 2018 - 2032 (USD Million)
- Chews and treats
- Capsule & ointment
- Sprays
- Other forms
By Distribution Channel, 2018 - 2032 (USD Million)
- Drug & pharmacy stores
- Pet specialty stores
- Veterinary clinics and hospitals
- Online retailers
- Other distribution channels
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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