Pet OTC Medication Market is Estimated to Reach US$ 8.5 Bn in 2022
The pet OTC medication market is poised to reach a valuation of US$ 8.5 Bn in 2022. Sales are projected to increase at a 4.5% CAGR, with the market size reaching US$ 13.2 Bn by 2032.
The global pet OTC medication market is forecast to grow at a steady rate during the assessment period. Rising pet adoption across the globe is expected to push sales in the market through 2032. Increasing awareness regarding pet healthcare has also made a significant contribution to the growth in pet OTC medication market.
Emerging markets in low and middle-income countries are expected to offer opportunities for expansion. In addition to this, surging demand for herbal topical medication for fleas and other allergies in pets will boost sales in the market.
“Rising availability of pet insurance in countries such as the U.S. and France, along with increasing demand for natural ingredient-based pet care products is expected to fuel the growth in the market over the assessment period,” says an FMI analyst.
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- Demand for natural ingredients-based medications is expected to gain traction at a considerable pace.
- Chewables and tablets will account for nearly 30% of the total market share over the forecast period.
- Total sales of OTC medicines for dogs will hold approximately 40% of the global pet OTC medication market share.
- The U.S. will continue dominating the North America pet OTC medication market over the assessment period, with sales growing at a 2% CAGR.
- Demand in the India market is forecast to surge at a 5.5% CAGR through 2032.
- France will account for a lion’s share in the Europe pet OTC medication market over the forecast period.
The key players in the pet OTC medication market are Ceva Santé Animale Co., Elanco Animal Health Inc., Boehringer Ingelheim International GmbH, Zoetis Inc., Merck & Co., Inc., Virbac SA Co., Bayer AG, IDEXX Laboratories Co., Covetrus Inc., Dechra Pharmaceuticals PLC, Vetoquinol SA, Phibro Animal Health Co., Kyoritsuseiyaku Co., Krka, d. d., Novo Mesto, Sequent Scientific Ltd., Heska Co., Eco Animal Health Group, and Neogen Co.
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Pet OTC Medication Market by Category
- Fish and Reptiles
- Small Pets
- Fleas & Ticks
- Pain Relief & Arthritis
- Chewables & Tablets
- Capsules & Ointment
- Pet Specialty Stores
- Veterinary Clinics
- Drug & Pharmacy Stores
- Online Retail
- North America
- Latin America
- East Asia
- South Asia
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