Over-the-counter (OTC) pet medication (OTC pet medication) refers to pharmaceutical and healthcare products that are sold directly to pet owners without requiring a prescription. These medications address a wide variety of health concerns in pets, ranging from flea and tick control to nutritional supplements and pain relief.
The OTC pet medication market consists of sales, by entities (organizations, sole traders or partnerships), of various pet health medication products that can be purchased without a prescription for the treatment of common health issues in pets. These medications are formulated specifically for animals and are intended to address minor ailments such as allergies, pain relief, digestive problems and certain skin conditions.
The global over-the-counter (OTC) pet medication market was valued at $7,130.00 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.00%.
Increased Disposable Income
Increased disposable incomes fueled the growth of the OTC pet medication market during the historic period. Increased disposable incomes allow pet owners to spend more on their pets' health and wellness. With higher incomes, consumers were more inclined to invest in preventative care products, such as flea and tick treatments, supplements and general wellness medications. This rise in purchasing power also led to a shift toward premium OTC options, reflecting a growing willingness to prioritize pet healthcare without always relying on costly veterinary services. For example, in Malaysia, according to the Department of Statistics Malaysia (DOSM), median household income in urban areas increased by 3.3% from 6,561 ringgit ($1,489.27) in 2019 to 7,243 ringgit ($1,644.08) in 2022. In rural areas, median household income rose by 2.2%, from 3,828 ringgit ($868.91) to 4,094 ringgit ($929.29). Additionally, mean household income in urban areas grew by 2.9% from 8,635 ringgit ($1,960.05) in 2019 to 9,428 ringgit ($2,140.05) in 2022. Additionally, according to the Bank of Korea, a South Korea-based central bank, disposable personal income in South Korea increased to 2191418.90 KRW billion ($1696.84) billion in 2022 from 2099125.20 KRW billion ($1625.38) billion in 2021. Therefore, increased disposable incomes drove the growth of the OTC pet medication market.
Expansion Of Pet Pharmacies To Enhance Access To Pet Medications And Veterinary Services
Major companies in the OTC pet medication market are enhancing access to pet healthcare by expanding their pharmacy networks and developing online platforms with home delivery services. These initiatives focus on providing essential treatments, including medications and therapeutic nutrition, while improving logistics and customer service systems to streamline the purchasing process. This expansion particularly benefits pet owners managing chronic conditions and seeking preventive care, such as parasite control, by offering greater convenience and accessibility. For example, in May 2024, apo.com Group, a Germany-based healthtech company, and Fressnapf Tiernahrungs GmbH, a Germany pet food company, launched an online shop for OTC veterinary medicines. The online store specializes in veterinary medicines for dogs and cats, with a primary focus on treatments for parasites like ticks and fleas.
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.
Over-The-Counter (OTC) Pet Medication Global Market Opportunities And Strategies To 2033 from The Business Research Company 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.
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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 from The Business Research Company 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 Medications
- 2) 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
- Companies Mentioned: Zoetis Inc; Arab Pesticides and Veterinary Drugs Manufacturing Company (Mobedco-Vet); Ceva Sante 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 segmentations: 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.