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Pet Medications in the U.S., 7th Edition

  • ID: 5342797
  • Report
  • June 2021
  • Region: United States
  • 169 Pages
  • Packaged Facts

FEATURED COMPANIES

  • Central Garden & Pet
  • Ceva Animal Health
  • Elanco
  • Hartz Mountain Corp.
  • Merck Animal Health
  • PetIQ
  • MORE
Posting double-digit sales growth 2020 - the largest single-year increase in the past decade - the pet medications market not only navigated the COVID-19 pandemic but continued to thrive, given increased focus on pet health and wellness and the surge in pet adoption and acquisition brought on by the pandemic.

Ending 2020 with $10.8 billion in sales, up nearly 13% from 2019, the pet meds market initially faced an uphill battle given the closures of vet clinics and retail stores, threats to production and supply lines, and economic hardship that could have potentially translated into reduced consumer spending on pet care. None of these factors were enough to offset the fact that pet owners - committed to their own health and wellness - were equally determined when it came to keeping their pets safe and sound, leading to above-average growth in key pet medication segments including prescription and over-the-counter parasiticides.

The veterinary sector - long the primary sales channel for pet medications - managed to exceed expectations and ended the year with higher-than-average growth by leveraging “concierge” pet drop-off/pick-up services and remote treatment options such as telemedicine. At the same time, the pandemic drove overall pet product sales further online, and pet medications were no exception, with 16% of retail sales occurring over the internet, fueled by the “right place at the right time” presence of new market components including Chewy's Rx compounding service and TractorSupplyRx, as well as the continued success of WalmartPetRx and Petco's online pharmacy.

Pet Medications in the U.S., 7th Edition examines these and other opportunities for growth in the pet medications market, with a primary focus on parasiticides including flea/tick and heartworm prevention, which are broken out at multiple levels including by product type, animal type, and prescribed vs. OTC. The discussion extends to market-shaping developments in areas including prescription pain management, vaccines, and cancer drugs and over-the-counter first aid products, with numerous images illustrating marketing and product trends.

New and updated market quantification provided in this edition of Pet Medications in the U.S. includes:

  • A complete update of pet population and adoption/acquisition trends in the wake of COVID-19, including patterns for Gen Z adults and Millennials.
  • Pet acquisition and ownership trends by age of dogs and cats and by size of dogs, including quantification on senior dog and cat populations.
  • Pet medication usage rates by product type, including by types and product formats of parasiticides, and by number and age of dogs and cats owned.
  • Usage rates - overall, among dog owners, and among cat owners - for leading flea, tick, and heartworm brands including Advantage II, Frontline, Hartz, Heartgard, K9Advantix, NexGard, Revolution, Sentinal, Seresto, and Trifexis.
  • Market prospects for pet medications remain very positive, spurred by ongoing advances in veterinary medicine, a deepening pet parent focus on pet wellness, and expanding brick-and-mortar and online options for veterinary services and pet medications.

Scope and Methodology


Building on the analysis presented in the previous editions of this report, this completely updated edition of Pet Medications in the U.S. covers historical and projected retail sales from 2016 through 2025, competitive strategies of key players, trends in marketing and new product development, and retail channel trends, with a particular focus on the online marketplace.

Primary research included participation and market presentations in pet and veterinary industry events including American Pet Products Association (APPA) Global Pet Expos, United Veterinary Services Association (UVSA) National Conference, KC (Kansas City) Animal Health Corridor Market Insight Seminar, North American Veterinary Community (NAVC) VMX Conferences and E-Commerce Summits; and VetHealth Global.

Featuring exclusive data from the publisher's February and February/March 2021 Surveys of Pet Owners, the report details pet medications purchasing trends as well as attitudes and priorities of pet medications purchasers. The report also incorporates MRI National Consumer Study data from Fall 2020 to provide demographic profiles of pet medications purchasers.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Central Garden & Pet
  • Ceva Animal Health
  • Elanco
  • Hartz Mountain Corp.
  • Merck Animal Health
  • PetIQ
  • MORE

Executive Summary

Market Trends

  • Scope and Methodology
  • Market Size & Composition
  • Market Outlook
  • Looking Ahead
  • Competitive Overview
  • Retail Trends

Prescription Products

  • Prescription Products Share of Market
  • Marketer Profiles
  • Marketing and New Product Trends

OTC Products

  • OTC Pet Medications Share of Market
  • Marketing and New Product Trends

Consumer Trends

  • Pet Population and Pet Ownership Trends
  • Pet Acquisition in Response to COVID-19
  • Pet Medication Purchasing Patterns by Product Type
  • Pet Medication Purchasing Patterns by Channel
  • Market Opportunities
  • Opportunity 1 - Increased Focus on Health and Wellness
  • Opportunity 2 - Pet Population Boom
  • Opportunity 3 - Senior Pets
  • Opportunity 4 - Omnichannel Marketing
  • Opportunity 5 - Autoship and Subscriptions
  • Opportunity 6 - Felines
  • Opportunity 7 - Veterinary Sector Growth
  • Opportunity 8 - New Products Fueled by Generics and Patent Expiration
  • Opportunity 9 - Affordability
  • Opportunity 10 - Combo Products

Market Trends

Chapter Highlights

Scope and Methodology

  • Market Definition
  • Product Regulation
  • Report Methodology

Market Size & Composition

  • U.S. Retail Sales of Pet Medications Approach $11 Billion in 2020
  • Table U.S. Retail Sales of Pet Medications, 2016-2020 (dollars)
  • Share of Sales by Animal Type
  • Share of Sales by Distribution Channel
  • Table Share of U.S. Retail Sales of Pet Medications by Distribution Channel, 2020 (percent and dollars)
  • Pet Medications Sales by Pet-Owning Household
  • Table Dollar Sales of Pet Medications by Sector Per Pet-Owning Household, 2017-2020 (dollars in millions and dollars)
  • Table Dollar Sales of Pet Medications Per Dog-Owning Household and Dog by Sector, 2020 (dollars in millions and dollars)
  • Table Dollar Sales of Pet Medications Per Cat-Owning Household and Cat by Sector, 2020 (dollars in millions and dollars)
  • Share of Sales by Product Type
  • Table Share of U.S. Retail Sales of Pet Medications by Product Type, 2020 (percent and dollars)
  • Parasiticide Sales by Type
  • Table Share of U.S. Retail Sales of Parasiticides by Product Type: Prescription vs. OTC, 2020 (percent and dollars)
  • Table Share of U.S. Retail Sales of Parasiticides by Product Type: Dogs vs. Cats, 2020 (percent and dollars in millions)
  • Table Share of U.S. Retail Sales of Flea/Tick Preventative Medication: Prescription vs. Over-the-Counter and Dogs vs. Cats, 2020 (percent and dollars in millions)

Market Outlook

  • COVID Has Positive Impact on Pet Medications Market
  • Increased Focus on Health and Wellness
  • COVID Economy Impact on Pet Owner Spending Mindset
  • Pandemic Fuels Pet Population Boom
  • Innovation Spurred by Cost, Convenience, and Safety
  • Veterinary Sector Rebounds After COVID Shutdowns
  • Table U.S. Veterinary Sector Sales and Growth, 2015-2020 (dollars in billions and percent change)
  • Pet Medications Sales Shifting to Online Platforms
  • Parasiticide Use Hindered by Product Confusion, Perception of Risk
  • Aging, Overweight Pets More Likely to Require Medication
  • Table Overview of Senior Pet (Age 7+) Population: Dogs vs. Cats, 2014-2020 (percent of households and number of households in millions)
  • Table Share of Dog or Cat Owners Who Report Having Overweight or Aging/Special Needs Pets, February 2021 (percent of pet owners)
  • Competition from Supplements and Pet Food/Treats
  • FDA Adds Product to Isoxazoline Warning
  • COVID-Related Ivermectin Abuse

Looking Ahead

  • Pet Medication Sales to Reach Nearly $15 Billion by 2025
  • Table Projected U.S. Retail Sales of Pet Medications, 2020-2024 (dollars in billions)

Competitive Overview

  • Prescription and OTC Marketers
  • M&A and Investment Activity
  • Global and U.S. Conglomerates Dominate Pet Medications Market
  • Generics Increasing Competition and Spurring Innovation
  • Table Select Generic Equivalents of Parasiticide Brands, 2021

Retail Trends

  • Veterinarian Top Destination for Pet Meds Purchases
  • Table Channel Choice for Pet Product Purchases in Past Three Months, 2021 (percent of dog and cat owners)
  • E-Commerce Attracts New Participants
  • Table Breakout of Pet Medication Spending on Chewy and Amazon, 2021 (percent of dog and cat owners)
  • Pet Specialty Brick & Mortar Stores Focus on OTC Medications

Prescription Products

Chapter Highlights

Prescription Products Market Share

  • Prescription Products Account for Three-Fourths of Pet Medications Market
  • Table Retail Sales of Prescription Pet Medications by Product Type, 2021 (percent share and dollars in millions)

Marketer Profiles

  • Dozens of Marketers Participate in Prescription Pet Medications Market
  • Boehringer Ingelheim Animal Health
  • Elanco
  • Merck Animal Health
  • Virbac
  • Zoetis

Marketing and New Product Trends

  • Parasiticides
  • Table Prescription Parasiticide Brands, 2021
  • Flea and Tick Products
  • The Heartworm Market
  • Combination Products
  • Broad Spectrum Wormers
  • Vaccines and Other Drugs

OTC Products

Chapter Highlights

  • OTC Pet Medications Account for 23% of Market
  • Table U.S. Retail Sales of Over-the-Counter Pet Medications, 2021 (dollars in millions and percent share)

Marketer Profiles

  • OTC Marketers Focus on Parasiticides, First Aid Products
  • Central Garden & Pet
  • Ceva Animal Health
  • Hartz Mountain Corp.
  • PetIQ
  • Vetoquinol

Marketing and New Product Trends

  • Parasiticides
  • Table Examples of Leading Over-the-Counter Flea/Tick Brands, 2021
  • Flea and Tick Products
  • Broad Spectrum Wormers and Mite Treatments
  • First Aid Products
  • Natural Products

Consumer Trends

Chapter Highlights

Pet Population and Pet Ownership Trends

  • Pet Ownership Rates
  • Table Topline Pet Ownership Rates by Type, 2016-2020 (percent of overall households)
  • Table Number of Pet-Owning Households by Type, 2016-2020 (in millions)
  • Table Number of Pet Dogs and Cats, 2016-2020 (in millions)
  • From Smaller Dogs to Medium
  • Table Size of Pet Dogs Acquired, February 2020 vs. February 2021 (percent of dog owners)
  • Table Dog Population by Size of Dogs, 2016-2020 (percent and number of overall households)
  • Age of Dog and Cat Population
  • Table Dog and Cat Population by Age Bracket of Pet, 2016-2020 (percent of households)
  • Table Puppy/Kitten vs. Senior Share of Pet Population: Dogs vs. Cats, 2016-2020 (percent of households)

Pet Acquisition in Response to COVID-19

  • Surge in Pet Acquisition and Adoption
  • First-Time Pet Owners
  • Multiple Pets, Multiple Types of Pets
  • COVID Motivators for Pet Acquisition
  • Table Patterns for Working at Office/Company and Working at Home: Adults Overall and Pet Owners, Fall 2019 vs. Fall 2020 (percent)
  • Pet Population Churn
  • Pet Acquisition by Generational Cohort
  • Table Overview of Pet Acquisition in 2020 Among Current Pet Owners: By Generational Cohort, (percent of current pet owners who've had pets 2+ years)
  • Pet Gifting for Winter Holidays 2020

Pet Medication Purchasing Patterns by Product Type

  • Purchasing Rates by Product Type
  • Two-Thirds of Dog or Cat Households Use Parasiticide Products
  • Table Percentage of Dog or Cat Owners Who Use Parasiticides, 2017-2020 (percent and thousands of dog- or cat-owning households)
  • Tablet/Oral Medications Now Most Popular Type
  • Table Dog- or Cat-Owning Households Using Parasiticide Products by Type, 2017-2020 (percent and thousands of dog- or cat-owning households)
  • Oral Flea/Tick Medication More Popular Among Dog Owners
  • Table Share of Flea, Tick, and Parasite Product Usage by Type of Pet, 2020 (percent of dog- or cat-owning households)
  • Parasiticide Usage by Number, Age of Pets
  • Table Share of Flea, Tick, and Parasite Product Usage by Type and Number of Pets, 2020 (percent of dog- or cat-owning households)
  • Table Share of Flea, Tick, and Parasite Product Usage by Type and Age of Pets, 2020 (percent of dog- or cat- owning households)
  • FRONTLINE Most Frequently Used Flea/Tick Brand
  • Table Share of Flea, Tick, and Parasite Product Usage by Brand, 2020 (percent of dog- or cat-owning households)
  • Demographics by Parasiticide Type
  • Table Select Demographics for Use of Parasiticides by Type, 2020 (percent, thousands, and index among dog- or cat-owning households)
  • Table Select Demographics for Use of Over-the-Counter and Prescription Parasiticides, 2020 (percent, thousands, and index among dog- or cat-owning households)
  • Demographics for Parasiticide Brands
  • Table Select Demographics for Use of Parasiticides by Brand, 2020 (percent, thousands, and index among dog- or cat-owning households)

Pet Medication Purchasing Patterns by Channel

  • Vet Clinics Most Frequently Used Channel for Pet Meds Purchases
  • APPA Data Show Similar Purchase Patterns
  • Shopping Patterns by Channel
  • Table Pet Medication Product Purchase Rate by Channel, Past Three Months, 2020 (percent of pet product shoppers)
  • Convenience Prime Motivator for Online Purchases
  • Comfort Level, Convenience Driving Factors in Vet Clinic Purchases
  • Table Attitudes Towards Purchasing Pet Medications Through Veterinary Clinics, 2021 (percent of pet medication purchasers)
  • Parasiticide Purchase Patterns by Channel
  • Table Flea, Tick, and Parasite Product Purchasing Rates by Channel, 2020 (share of dog- or cat-owning households)
  • Share of Spending on Pet Medications by Channel
  • Table Share of Spending on Pet Medications by Channel, 2021 (percent of dog- or cat-owning households)
Note: Product cover images may vary from those shown

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  • Boehringer Ingelheim Animal Health
  • Central Garden & Pet
  • Ceva Animal Health
  • Elanco
  • Hartz Mountain Corp.
  • Merck Animal Health
  • PetIQ
  • Vetoquinol
  • Virbac
  • Zoetis
Note: Product cover images may vary from those shown
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