This report describes and explains the over-the-counter (OTC) pet medication market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global over-the-counter (OTC) pet medication market reached a value of nearly $8.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2.9% since 2018. The market is expected to grow from $8.2 billion in 2023 to $10.9 billion in 2028 at a rate of 5.7%. The market is then expected to grow at a CAGR of 6.2% from 2028 and reach $14.7 billion in 2033.
Growth in the historic period resulted from the increased disposable income, increased pet population and favorable government support. Factors that negatively affected growth in the historic period include a lack of awareness about animal health.
Going forward, the increase in adoption of pets, increasing urban populations, expansion of the e-commerce industry, increasing spending on animal healthcare and rising adoption of pet insurance will drive the market. Factors that could hinder the growth of the over-the-counter (OTC) pet medication market in the future include price sensitivity among pet owners.
The over-the-counter (OTC) pet medication market is segmented by medication into flea and tick control, wormers and dewormers, dental care, nutritional supplements, skin and coat care, pain and allergy relief, and other medications. The flea and tick control market was the largest segment of the over-the-counter (OTC) pet medication market segmented by medication, accounting for 39.8% or $3.3 billion of the total in 2023. Going forward, the nutritional supplements segment is expected to be the fastest-growing segment in the over-the-counter (OTC) pet medication market segmented by medication, at a CAGR of 6.9% during 2023-2028.
The over-the-counter (OTC) pet medication market is segmented by pet into dogs, cats, birds, fishes, reptiles, and other pets. The dogs market was the largest segment of the over-the-counter (OTC) pet medication market segmented by pet, accounting for 45.8% or $3.8 billion of the total in 2023. Going forward, the dogs segment is expected to be the fastest-growing segment in the over-the-counter (OTC) pet medication market segmented by pet, at a CAGR of 6.3% during 2023-2028.
The over-the-counter (OTC) pet medication market is segmented by form into chews and treats, capsule and ointment, sprays, and other forms. The chews and treats market was the largest segment of the over-the-counter (OTC) pet medication market segmented by form, accounting for 33.3% or $2.7 billion of the total in 2023. Going forward, the chews and treats segment is expected to be the fastest-growing segment in the over-the-counter (OTC) pet medication market segmented by form, at a CAGR of 6.4% during 2023-2028.
The over-the-counter (OTC) pet medication market is segmented by distribution channel into drug and pharmacy stores, pet specialty stores, veterinary clinics and hospitals, online retailers, and other distribution channels. The drug and pharmacy stores market was the largest segment of the over-the-counter (OTC) pet medication market segmented by distribution channel, accounting for 38.2% or $3.1 billion of the total in 2023. Going forward, the online retailers segment is expected to be the fastest-growing segment in the over-the-counter (OTC) pet medication market segmented by distribution channel, at a CAGR of 6.7% during 2023-2028.
North America was the largest region in the over-the-counter (OTC) pet medication market, accounting for 3.5% or $3.6 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the over-the-counter (OTC) pet medication market will be Asia-Pacific and Africa, where growth will be at CAGRs of 7.88% and 7.42% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 7.06% and 6.27% respectively.
The global over-the-counter (OTC) pet medication market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 50.39% of the total market in 2023. Zoetis Inc was the largest competitor with a 12.84% share of the market, followed by Arab Pesticides and Veterinary Drugs Manufacturing Company (Mobedco-Vet) with 7.69%, Ceva Santé Animale with 6.92%, Boehringer Ingelheim International GmbH with 6.24%, PetIQ, LLC with 5.87%, Virbac with 4.76%, Vetoquinol with 1.93%, Bayer AG with 1.89%, Merck & Co., Inc. (Merck Animal Health) with 1.46% and Animalcare Group with 0.79%.
The top opportunities in the over-the-counter (OTC) pet medication market segmented by medication will arise in the flea and tick control segment, which will gain $1.19 billion of global annual sales by 2028. The top opportunities in the over-the-counter (OTC) pet medication market segmented by pet will arise in the dogs segment, which will gain $1.34 billion of global annual sales by 2028. The top opportunities in the over-the-counter (OTC) pet medication market segmented by form will arise in the chews and treats segment, which will gain $993.87 million of global annual sales by 2028. The top opportunities in the over-the-counter (OTC) pet medication market segmented by distribution channel will arise in the drug and pharmacy stores segment, which will gain $956.58 million of global annual sales by 2028. The over-the-counter (OTC) pet medication market size will gain the most in the USA at $684.74 million.
Market-trend-based strategies for the over-the-counter (OTC) pet medication market include focus on expansion of pet pharmacies to enhance access to pet medications and veterinary services and focus on strategic partnerships and acquisitions among major players to enhance product offerings.
Player-adopted strategies in the over-the-counter (OTC) pet medication market include focus on strengthening business capabilities through new drug launches, strengthening business capabilities through strategic acquisitions, strengthening business capabilities through new product launches and strengthening business operations through new business expansion initiatives.
To take advantage of the opportunities, the analyst recommends the over-the-counter (OTC) pet medication companies to focus on expanding access to OTC pet medications, focus on nutritional supplements, focus on chews and treats, expand in emerging markets, continue to focus on developed markets, focus on expanding distribution channels through collaborations, provide competitively priced offerings, focus on effective promotional channels and focus on effectively targeting pet owners.
The global over-the-counter (OTC) pet medication market reached a value of nearly $8.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2.9% since 2018. The market is expected to grow from $8.2 billion in 2023 to $10.9 billion in 2028 at a rate of 5.7%. The market is then expected to grow at a CAGR of 6.2% from 2028 and reach $14.7 billion in 2033.
Growth in the historic period resulted from the increased disposable income, increased pet population and favorable government support. Factors that negatively affected growth in the historic period include a lack of awareness about animal health.
Going forward, the increase in adoption of pets, increasing urban populations, expansion of the e-commerce industry, increasing spending on animal healthcare and rising adoption of pet insurance will drive the market. Factors that could hinder the growth of the over-the-counter (OTC) pet medication market in the future include price sensitivity among pet owners.
The over-the-counter (OTC) pet medication market is segmented by medication into flea and tick control, wormers and dewormers, dental care, nutritional supplements, skin and coat care, pain and allergy relief, and other medications. The flea and tick control market was the largest segment of the over-the-counter (OTC) pet medication market segmented by medication, accounting for 39.8% or $3.3 billion of the total in 2023. Going forward, the nutritional supplements segment is expected to be the fastest-growing segment in the over-the-counter (OTC) pet medication market segmented by medication, at a CAGR of 6.9% during 2023-2028.
The over-the-counter (OTC) pet medication market is segmented by pet into dogs, cats, birds, fishes, reptiles, and other pets. The dogs market was the largest segment of the over-the-counter (OTC) pet medication market segmented by pet, accounting for 45.8% or $3.8 billion of the total in 2023. Going forward, the dogs segment is expected to be the fastest-growing segment in the over-the-counter (OTC) pet medication market segmented by pet, at a CAGR of 6.3% during 2023-2028.
The over-the-counter (OTC) pet medication market is segmented by form into chews and treats, capsule and ointment, sprays, and other forms. The chews and treats market was the largest segment of the over-the-counter (OTC) pet medication market segmented by form, accounting for 33.3% or $2.7 billion of the total in 2023. Going forward, the chews and treats segment is expected to be the fastest-growing segment in the over-the-counter (OTC) pet medication market segmented by form, at a CAGR of 6.4% during 2023-2028.
The over-the-counter (OTC) pet medication market is segmented by distribution channel into drug and pharmacy stores, pet specialty stores, veterinary clinics and hospitals, online retailers, and other distribution channels. The drug and pharmacy stores market was the largest segment of the over-the-counter (OTC) pet medication market segmented by distribution channel, accounting for 38.2% or $3.1 billion of the total in 2023. Going forward, the online retailers segment is expected to be the fastest-growing segment in the over-the-counter (OTC) pet medication market segmented by distribution channel, at a CAGR of 6.7% during 2023-2028.
North America was the largest region in the over-the-counter (OTC) pet medication market, accounting for 3.5% or $3.6 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the over-the-counter (OTC) pet medication market will be Asia-Pacific and Africa, where growth will be at CAGRs of 7.88% and 7.42% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 7.06% and 6.27% respectively.
The global over-the-counter (OTC) pet medication market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 50.39% of the total market in 2023. Zoetis Inc was the largest competitor with a 12.84% share of the market, followed by Arab Pesticides and Veterinary Drugs Manufacturing Company (Mobedco-Vet) with 7.69%, Ceva Santé Animale with 6.92%, Boehringer Ingelheim International GmbH with 6.24%, PetIQ, LLC with 5.87%, Virbac with 4.76%, Vetoquinol with 1.93%, Bayer AG with 1.89%, Merck & Co., Inc. (Merck Animal Health) with 1.46% and Animalcare Group with 0.79%.
The top opportunities in the over-the-counter (OTC) pet medication market segmented by medication will arise in the flea and tick control segment, which will gain $1.19 billion of global annual sales by 2028. The top opportunities in the over-the-counter (OTC) pet medication market segmented by pet will arise in the dogs segment, which will gain $1.34 billion of global annual sales by 2028. The top opportunities in the over-the-counter (OTC) pet medication market segmented by form will arise in the chews and treats segment, which will gain $993.87 million of global annual sales by 2028. The top opportunities in the over-the-counter (OTC) pet medication market segmented by distribution channel will arise in the drug and pharmacy stores segment, which will gain $956.58 million of global annual sales by 2028. The over-the-counter (OTC) pet medication market size will gain the most in the USA at $684.74 million.
Market-trend-based strategies for the over-the-counter (OTC) pet medication market include focus on expansion of pet pharmacies to enhance access to pet medications and veterinary services and focus on strategic partnerships and acquisitions among major players to enhance product offerings.
Player-adopted strategies in the over-the-counter (OTC) pet medication market include focus on strengthening business capabilities through new drug launches, strengthening business capabilities through strategic acquisitions, strengthening business capabilities through new product launches and strengthening business operations through new business expansion initiatives.
To take advantage of the opportunities, the analyst recommends the over-the-counter (OTC) pet medication companies to focus on expanding access to OTC pet medications, focus on nutritional supplements, focus on chews and treats, expand in emerging markets, continue to focus on developed markets, focus on expanding distribution channels through collaborations, provide competitively priced offerings, focus on effective promotional channels and focus on effectively targeting pet owners.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 OTC Pet Medication Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Over-the-Counter (OTC) Pet Medication Market Segmentation
11 Over-the-Counter (OTC) Pet Medication Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Over-the-Counter (OTC) Pet Medication Pet Food Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Over-the-Counter (OTC) Pet Medication Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global over-the-counter (OTC) pet medication market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors..
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for over-the-counter (OTC) pet medication? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The over-the-counter (OTC) pet medication market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider over-the-counter (OTC) pet medication market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by medication, by pet, by form and by distribution channel.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- the report provides an analysis of the impact of the Russia-Ukraine war, impact of the COVID-19 pandemic and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the over-the-counter (OTC) pet medication market.
- Global Market Size and Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by medication, by pet, by form and by distribution channel in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on the financials comparison between major players in the market.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for over-the-counter (OTC) pet medication providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Medication: Flea and Tick Control; Wormers and Dewormers; Dental Care; Nutritional Supplements; Skin and Coat Care; Pain and Allergy Relief; Other Medications2 by Pet: Dogs; Cats; Birds; Fishes and Reptiles; Other Pets
3) by Form: Chews and Treats; Capsule and Ointment; Sprays; Other Forms
4) by Distribution Channel: Drug and Pharmacy Stores; Pet Specialty Stores; Veterinary Clinics and Hospitals; Online Retailers; Other Distribution Channels
Key Companies Mentioned: Zoetis Inc; Arab Pesticides and Veterinary Drugs Manufacturing Company (Mobedco-Vet); Ceva Santé Animale; Boehringer Ingelheim International GmbH; PetIQ, LLC
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; over-the-counter (OTC) pet medication indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Zoetis Inc
- Arab Pesticides and Veterinary Drugs Manufacturing Company (Mobedco-Vet)
- Ceva Santé Animale
- Boehringer Ingelheim International GmbH
- PetIQ, LLC
- Virbac
- Vetoquinol
- Bayer AG
- Merck & Co., Inc (Merck Animal Health)
- Animalcare Group
- Scriptly
- Ramsay
- JD Health
- Vetic
- Tonisity International Limited
- Indian Immunologicals Ltd (IIL)
- PT Sanbe Farma
- DS Pharma Animal Health
- Maxi Zoo
- Accord Healthcare
- Purina
- MSD Animal Health
- Italfarmaco
- Cat Health Company (TCHC)
- VIC Group
- Nasr Pharmaceutical Company
- AVZ LTD
- Blain's Farm & Fleet
- Nationwide Pet Insurance
- PetMed Express Inc
- PetCareRx
- Allivet
- PetIQ Inc
- Boehringer Ingelheim Animal Health
- Apotex
- Pfizer
- Gilead Sciences
- Roche
- AbbVie Inc
- GlaxoSmithKline
- AstraZeneca
- Amgen
- Sanofi Pasteur
- Abbott Laboratories
- Janssen Pharmaceutica
- Teva Canada
- Acerus Pharmaceutical Drugs Corporation
- Maure
- Ouro Fino Saúde Animal Participações
- Mitsui & Co Ltd
- Peru Animal Hospital
- Miami County Veterinary Clinic
- Cindy Fouts
- Vetanco
- Chemo Argentina
- Brouwer
- Agrovet Market Animal Health
- Lemavet
- Primo Veterinary Medicines Trading LLC
- Eurovets Veterinary Suppliers
- Physio Evolution
- Herzliya Veterinary Hospital
- Oron Veterinary Center
- Saudi Pharmaceutical Industries (SPI)
- DBK Pharma S.A.E
- Bimeda
- Dawa Limited
- Aesthetics Limited
- Neimeth International Pharmaceuticals
- Osy-Adamu Pharmaceutical Co
- M S J Afro Agro Pharmacy
- Global Vet (U) Ltd
- Multivet Ghana Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 324 |
| Published | November 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 8.24 Billion |
| Forecasted Market Value ( USD | $ 14.69 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 73 |
