Pet OTC Medication Market is Expected to Reach US$ 13.2 Billion by 2032, with Demand Surging at a CAGR of 4.5% by 2032 | FMI

The Pet OTC Medication Market is poised to reach a valuation of US$ 8.5 Billion in 2022. Sales are projected to increase at a 4.5% CAGR, with the market size reaching US$ 13.2 Billion by 2032.

The global  pet OTC   (over-the-counter) medication 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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Key Takeaways:

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.

Competition Landscape

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

Pet Type:

Dogs
Cats
Birds
Fish and Reptiles
Small Pets
Others

Application:

Fleas & Ticks
Allergies
Pain Relief & Arthritis
De-wormers
Others

Form:

Chewables & Tablets
Capsules & Ointment
Sprays
Others

Sales Channel:

Pet Specialty Stores
Veterinary Clinics
Drug & Pharmacy Stores
Online Retail
Others

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Pet Treats and Chews Market - https://www.futuremarketinsights.com/reports/pet-treats-and-chews-market

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This release was published on openPR.