U.S. Isoxazoline Market: Introduction
The Isoxazoline market in the U.S. was valued at ~US$ 847 Mn in 2019. It is anticipated to expand at a CAGR of ~14% from 2020 to 2030. The pet care industry in the U.S. is expanding and driving the demand for tick repellents that can control and kill fleas/ticks on dogs or cats. This, in turn, is propelling the Isoxazoline market. The U.S. is a prominent pet market in the world. Pet penetration in the country stood at around 68% in 2017. Isoxazoline-based tick repellent products are used to kill fleas or ticks that can cause various diseases such as anaplasmosis disease, babesiosis disease, ehrlichiosis disease, hepatozoonosis, lyme borreliosis, rickettsiosis, and tick-borne encephalitis.
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Anaplasmosis disease is caused by Ixodes ticks or deer ticks and haematophagous species of ticks on cattle, sheep, goats, etc. The disease is prevalent across Europe, North America, South America, Middle East & Africa, and South America. Babesiosis disease is caused by ticks. It is a major disease prevalent in the U.S., which, in turn, is likely to boost the Isoxazoline market. Ehrlichiosis disease is caused by ticks. The disease is prevalent across southern and eastern region of the U.S. Hepatozoonosis is a disease caused by brown dog ticks and affects pets such as dogs. The disease is prevalent in the south eastern U.S. and is boosting the demand for Bravecto (Fluralaner) – a major active ingredient in Isoxazoline compound.
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The Lyme Borreliosis disease is caused by hard shelled deer ticks or Ixodes ticks. Infected animals and people generally remain unaware that they have been bitten. The disease is prevalent across coastal U.S., North America, Latin America, and South Africa. Rickettsiosis is a disease caused by ticks prevalent in the U.S., Latin America, Asia Pacific, and Africa. All these diseases caused by ticks have already impacted pets across the globe, which are boosting the demand for Isoxazoline-based tick repellent products.
Key Drivers of U.S. Isoxazoline Market
The number of pets across the world has been rising, owing to changes in lifestyle and attitude of consumers toward pets. The number of pets per household has been rising even in emerging economies. The U.S. has the highest dog population per capita (one dog for every four people). Online sale of pet care products, including pet healthcare products such as tick repellents, has been rising across the globe. The global share of eCommerce in the pet industry stood at only 5.3% in 2015.
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However, the share has been increasing at a rapid pace. This trend is estimated to continue during the forecast period. Thus, rise in penetration of eCommerce in the global pet industry is boosting the demand for tick repellent products. The pet industry in the U.S. has been expanding at a healthy pace. The ownership of pets has been rising among the millennial population in the U.S. Pets are seen more as “kids or family members” rather than kept for “defending the family.” Thus, pet owners have become highly conscious while purchasing tick repellent products containing Isoxazoline. The threat of substitutes is low in the Isoxazoline market in the U.S. Homemade remedies act as substitutes in developing countries.
Possible Factors Hampering U.S. Isoxazoline Market Growth
In the U.S., a tick repellent product containing Isoxazoline must be approved by various agencies such as the FDA and the EPA before it is sold by a manufacturer. Thus, a company needs strong research & development infrastructure to sustain in the market.
Key Opportunities in U.S. Isoxazoline Market
The pet industry in China has been expanding at a rapid pace since the last few years. According to the National Bureau of Statistics, China, pet ownership in the country is third in the world (after the U.S. and Brazil). According to the American Pet Products Association (APPA), pet ownership in the U.S. stood at 68% in 2017. As per the China International Pet Show (CIPS), pet ownership in the country stood at 17% in the same year.
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