OTC Pet Medication Market Size
With a value of USD 8.1 billion in 2022 and expected to rise at a CAGR of 6.5% from 2023 to 2032, OTC Pet Medication Market size Rising pet ownership, expanding awareness among pet owners about the need of preventative healthcare, rising acceptance of pet insurance, and rising animal healthcare expenditure drive the market.
To get key market trends
Hey there, pet enthusiasts! Pet care goods including over-the-counter drugs are in increased demand as more of us welcome furry (or scaly, or feathery) friends into our homes. The American Pet Products Association's analysts estimate that almost two-thirds of American homes have a pet—a staggering 86.9 million families! They are also investing in the health and happiness of their animals, not only sharing their houses. Pet owners in the United States alone alone paid over $31 billion on supplies, animals, and over-the-counter drugs last year. And that number is just expected to rise! You are therefore part of a growing trend of pet owners who wish to keep their animals healthy and pleasant if you are like me and your animal friend means the world to you. And as we look after our furry (or scaly, or feathery) family members, over-the-counter drugs are also growing increasingly vital.
| 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 OTC pet medicine business was greatly changed by the COVID-19 epidemic. People seeking emotional support and company during the epidemic drove a spike in pet adoption and ownership. The growing pet population directly translated into more demand for OTC drugs and other pet healthcare items. This increase in pet ownership improved the market income.
The epidemic, however, caused interruptions in veterinary services including restricted access to veterinary clinics, postponed non-essential appointments, and higher demand for emergency care. Pet owners used over-the-counter pet drugs in these circumstances to control minor medical problems or to cover until they could get veterinarian treatment. This increase in OTC drug demand helped to offset the temporary drop in veterinary services, therefore supporting the market value.
OTC Pet Medication Market Trends
Like everything in life, certain trends shape and enable the expansion of the pet pharmaceutical business. You are aware of our shared passion for looking after our dogs? That's one of the trendsemphasizing more on avoiding issues than on later treatment of them. For their furry buddies, people are also searching for herbal and natural therapies. It's akin to the newest trend in pet maintenance! Not less important are those incredible developments in the way drugs are administered; they greatly simplify life for pet owners as well as for their animals. Customized care for every pet is another trend that's been developing. We seem to be handling them as people with different needs. We cannot overlook the e-commerce boom, of course either. The ease with which one may purchase medications online and have them delivered right to their house appeals to pet owners Online buying is quite popular since it offers better costs, a larger variety of things, and is so simple.
OTC Pet Medication Market Analysis
Learn more about the key segments shaping this market
Pet owners are constantly seeking methods to keep their beloved pals comfortable and healthy. Due in great part to flea and tick control, the market for over-the-counter pet drugs is exploding. Given that these horrible bugs can cause your pet's life to be unhappy with skin irritation, itching, allergies, and even worse, disease transmission is not surprising. About half of the OTC pet drug industry in 2022 will be focused on tick and flea control. Pet owners are spending more and more on their furry friends, and with the increasing number of parasites on the planet, maintaining their annoying presence away takes first importance.
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
Dogs, cats, birds, fishes & reptiles, and other small animals make up the OTC pet pharmaceutical industry depending on type of pet. 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 market is moving forward thanks to more homes choosing dogs and higher expenditure on dog care.
Products ranging from chews and snacks to capsules and ointments, sprays, and others abound in the over-the-counter (OTC) pet medicine industry. With around $3.6 billion, the component for capsules and ointments in 2022 is largest. From 2023 to 2032, it is also predicted to keep expanding by a decent rate—roughly 6.2% annually. More individuals having dogs and more awareness of their health are the reasons behind this development. Pet medications that are simple to use and effective therefore are more in demand. Pet owners search for OTC solutions since they wish to keep their pet friends healthy. Convenient and help owners quickly and simply take care of their pet's health, capsules and ointments let
The OTC pet medication market is broken out depending on distribution channel as drug and pharmacy stores, pet specialty stores, veterinary clinics and hospitals, internet retailers, and other channels. With a leading market share of 40.6% in 2022 and predicted to rise at a CAGR of 6%, the drug and pharmacy stores industry is expected to be growing. Convenient access to a variety of OTC pet drugs is offered by drug and pharmacy establishments. Pet owners find it more handy to get drugs for their animals as these outlets are usually situated in easily accessible areas inside local communities.
Furthermore predicted to develop at fastest pace of 7.4% is the segment of online merchants. Pet owners may easily buy OTC pet drugs on the handy and easily available platform offered by online stores. Comparatively to visiting physical stores, pet owners can save time and effort by browsing and ordering items from the convenience of their homes. This is supposed to propel the segment development.
Looking for region specific data?
With a CAGR of 6.3% from 2023–2032, North America OTC pet medicine market is estimated to reach USD 5.4 billion in 2032 and accounted for notable income in 2022. Pet ownership is rather high in North America; many households feature at least one pet. The region's rising pet ownership trend generates a sizable consumer base for over-the-counter pet drugs. Demand for over-the-counter medications to treat common health issues rises as pet owners start to give their pets' health and well-being a priority.
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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