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OTC Pet Medication Market Trends

Report ID: GMI6068
Published Date: Jun 2023
Report Format: PDF

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OTC Pet Medication Market Trends

The market is influenced by various trends that shape its dynamics and drive its growth. Some key trends in the market includes increasing emphasis on preventive care, growing demand for natural and herbal OTC pet medications, technological advancements in medication delivery, and increasingly seeking personalized and customized solutions for better animal care. In addition, the growth of e-commerce and online retail has significantly impacted the market. Pet owners now have the convenience of purchasing OTC medications from online retailers, with doorstep delivery options. The ease of online shopping, wider product selection, and competitive pricing have fueled the growth of online sales in the market.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global OTC pet medication industry was valued over USD 8 billion in 2022 and will cross USD 15 billion by 2032, driven by increasing pet ownership, growing awareness among pet owners regarding the importance of preventive healthcare, and rising adoption of pet insurance.

In 2022, the flea and tick control segment accounted for 45.3% market share. Pet owners prioritize the health and comfort of their pets, which along with increasing incidences of parasitic infections in pets is boosting the product demand.

North America OTC pet medication market is expected to reach USD 5.4 billion by 2032, on account of a high rate of pet ownership, and rising demand for over-the-counter drugs to address common health conditions in pets.

Zoetis Inc., Merck & Co., Inc., Elanco Animal Health Incorporated, Boehringer Ingelheim International GmbH, Ceva Sante Animale, Virbac, Vetoquinol, PetIQ, LLC., Norbrook, and Bimeda, Inc.