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.
Throughout the assessment period, it is anticipated that the global market for OTC pet medications would expand steadily. Through 2032, rising pet adoption across the globe is anticipated to drive market sales. The expansion of the market for pet OTC medications has also been significantly aided by rising awareness of pet healthcare issues.
It is anticipated that emerging markets in low- and middle-income nations would present chances for growth. Additionally, soaring demand for herbal topical medications for pet allergies and fleas will increase market sales.
“Rising availability of pet insurance in nations like the U.S. and France, together with rising demand for pet care products made with natural ingredients, is likely to boost market expansion over the assessment period.
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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