Pet Medications in the US, 8th Edition

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,500	179 Pages	Packaged Facts	May, 2023	LA17954865

Best Price Guarantee
Price	from $4,500
Length	179 Pages
Publisher	Packaged Facts
Published Date	May, 2023
SKU	LA17954865

Pet Medications in the US, 8th Edition

For more than a year, the US has seen unrelenting inflation across all consumer packaged goods categories, and pet owners have not been spared. During 2022, the Consumer Price Index (CPI) was up 9.2% for pets/pet products, according to the US Bureau of Labor Statistics (BLS). For the pet medications market, 2020 and 2021 were boom years, but the market’s lackluster 3.7% growth during 2022 is actually indicative of unit sales losses stemming from higher prices, fewer veterinary visits, and a declining dog population. Also crimping dollar sales growth is the entry of less expensive generic options into the market upon patent expiration, particularly as these generic versions infiltrate brick-and-mortar and online channels, where margins are lower.

At the same time, a strong pipeline of patented prescription drugs is helping to keep dollar sales growing. The pet medications market surpasses $12 billion for the first time in 2022, and Packaged Facts expects growth to continue at a modest but steady pace through 2027. Pet health remains the foremost market driver, bolstered by the pandemic and the intensified human/animal bond. Also working in the market’s favor is more convenient access to prescription pet medications available online, with Chewy.com, WalmartPetRx.com, Petco.com, and PetSmart.com all diving in headfirst. Pet medications marketers continue to invest heavily in research, incorporating promising developments in human health to bring new treatment options to ailing pets.

Packaged Facts’ Pet Medications in the U.S., 8th Edition examines these and other opportunities for market growth, 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. Coverage also extends to other market-shaping developments, with numerous images illustrating marketing and product trends.

Executive Summary
- Market Trends
  - Scope and Methodology
  - Market Size & Composition
  - Market Outlook
  - Looking Ahead
  - Competitive Overview
  - Retail Trends
- Prescription Products
  - Prescription Products Market Share
  - Marketer Profiles
  - Marketing and New Product Trends
- OTC Products
  - OTC Product Sales
  - Marketer Profiles
  - Marketing and New Product Trends
- Consumer Trends
  - Pet Medication Purchasing Patterns
  - Parasiticide Purchasing Patterns by Channel
- Market Opportunities
  - Opportunity 1 - Increased Focus on Health and Wellness
  - Opportunity 2 - Affordability
  - Opportunity 3 - Bolstering the Veterinary Sector
  - Opportunity 4 - Omnichannel Marketing
  - Opportunity 5 - Senior Pets
  - Opportunity 6 - Felines
  - Opportunity 7 - New Products Fueled by Generics and Patent Expiration
  - Opportunity 8 - Innovations in Human Health
  - Opportunity 9 - Gen Z and Millennials
Market Trends
- Chapter Highlights
- Scope and Methodology
  - Market Definition
  - Product Regulation
  - Report Methodology
  - Generational Breakouts
- Market Size & Composition
  - Inflation Impacts Pet Medications Market
  - US Retail Sales of Pet Medications Top $12 Billion in 2022
    - Table US Retail Sales of Pet Medications, 2018-2022 (dollars in millions)
  - Share of Sales by Animal Type
  - Share of Sales by Distribution Channel
    - Table Share of US Retail Sales of Pet Medications by Distribution Channel, 2022 (percent and dollars in millions)
  - Pet Medications Sales by Pet-Owning Household
    - Table Dollar Sales of Pet Medications by Sector Per Pet-Owning Household, 2018-2022 (dollars in millions and dollars)
    - Table Dollar Sales of Pet Medications Per Dog-Owning Household and Dog by Sector, 2022 (dollars in millions and dollars)
    - Table Dollar Sales of Pet Medications Per Cat-Owning Household and Cat by Sector, 2022 (dollars in millions and dollars)
  - Share of Sales by Product Type
    - Table Share of US Retail Sales of Pet Medications by Product Type, 2022 (percent and dollars in millions)
  - Parasiticide Sales by Type
    - Table Share of US Retail Sales of Parasiticides by Product Type: Prescription vs. OTC, 2022 (percent and dollars in millions)
    - Table Share of US Retail Sales of Parasiticides by Product Type: Dogs vs. Cats, 2022 (percent and dollars in millions)
- Market Outlook
  - Pet Owners Buffeted by Economic Pressures
    - Table Effects of the Economic Environment on Pet Owners, January 2022 vs. February 2023 (percent negatively/positively affected)
    - Table Selected Pet Product Spending Psychographics, January 2022 vs. February 2023 (percent of pet product shoppers)
  - Pet Medications Not Spared Substantial Headwinds
    - Table Most Significant Challenges to Pet Ownership: Dog vs. Cat Owners, 2023 (percent)
    - Table Household Spending Level Changes on Prescription Pet Medications by Generation, 2022 (pet medication purchasers)
    - Table $70K+ Household Share of Non-Food Pet Supplies Expenditures, 2012-2021 (percent)
  - Intensified Focus on Health and Wellness
  - "Pets as Family"
  - Declining Dog Population
    - Table Dog-Owning Household Population by Generational Cohort, 2016-2022 (number in thousands)
  - Pet Medication Sales Dependent on Challenged Veterinary Sector
    - Table Any Veterinary Visits in Last 12 Months: Share of Dog/Cat Owners, 2013-2022 (percent)
    - Table Customer Base for Any Veterinary Visits in Last 12 Months: Dog/Cat Owners, 2013-2022 (in millions)
    - Table Satisfaction Levels With Veterinarian Providing Advice on Managing Prescription Pet Medication Costs: Overall and by Dog vs. Cat Owners, 2023 (percent)
    - Table Satisfaction Levels With Veterinarian Providing Advice on Managing Prescription Pet Medication Costs: By Generational Cohort, 2023 (percent)
  - E-Commerce Impacts Pet Medication Sales
  - Supply Chain Issues Persist
  - Parasiticide Use Hindered by Product Confusion, Perception of Risk
    - Table Pet Owner Attitudes Towards Parasiticide Knowledge, by Generation 2023 (percent)
  - FDA, AVMA Target Illicit Use of Veterinary Drugs
  - Competition from Supplements and Pet Food/Treats
    - Table Level of Agreement With Selected Statements Related to Pet Food and Pet Health: Pet Owners Overall, Dog Owners, and Cat Owners, 2023 (percent of pet product shoppers)
- Looking Ahead
  - Pet Medication Sales to Reach $14 Billion by 2027
    - Table Projected US Retail Sales of Pet Medications, 2022-2027 (dollars in millions)
- Competitive Overview
  - Prescription and OTC Marketers
  - M&A and Investment Activity
  - Global and US Conglomerates Dominate Pet Medications Market
  - Innovation Spurred by Cost, Convenience, and Safety
  - Generics Increasing Competition and Spurring Innovation
    - Table Select Generic Equivalents of Parasiticide Brands, 2023
  - FDA Addresses Compounded Pet Medications
- Retail Trends
  - Veterinarian Top Destination for Pet Meds Purchases
    - Table Channel Choice for Flea Control Product Purchases in Past 12 Months, 2022/23 (percent of dog and cat owners)
  - Prescription Parasiticides Most Frequently Purchased in Vet Channel
  - E-commerce Continues to Accelerate
    - Table Uses of the Internet Other Than for Basic Purchasing: Pet Owners Overall, by Dog vs. Cat Owners, and by Generational Cohort, 2023 (percent of online pet product shoppers)
  - E-Commerce Attracts New Participants
  - Pet Specialty Brick & Mortar Stores Focus on OTC Medications
Prescription Products
- Chapter Highlights
- Prescription Products Market Share
  - Prescription Products Account for 80% of Pet Medications Market
    - Table Retail Sales of Prescription Pet Medications by Product Type, 2022 (dollars in millions and percent share)
- 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, 2023
  - Flea and Tick Products
  - The Heartworm Market
  - Combination Products
  - Broad Spectrum Wormers
  - Vaccines and Other Drugs
OTC Products
- Chapter Highlights
- OTC Product Sales
  - OTC Products Account for 20% of Overall Pet Medications Market
    - Table US Retail Sales of Over-the-Counter Pet Medications, 2022 (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, 2023
  - Flea and Tick Products
  - Broad Spectrum Wormers and Mite Treatments
  - Natural Products
  - First Aid Products
Consumer Trends
- Chapter Highlights
- Pet Medication Purchasing Patterns
  - Purchasing Rates by Product Type
  - Pet Medication Purchasing Frequency
  - Two-Thirds of Dog or Cat Households Use Parasiticide Products
    - Table Percentage and Number of Dog or Cat Owners Who Use Flea/Tick or Other Parasiticides, Winter 2022/23 (percent and thousands of dog- or cat-owning households)
    - Table Percentage and Number of Dog or Cat Owners Who Use Flea/Tick Prevention or Other Parasiticides, Fall 2018-Fall 2022 (percent and thousands of dog- or cat-owning households)
    - Table Number of Dog or Cat Owners Who Use Over-the-Counter Parasiticides, Fall 2021 - Winter 2022/23 (percent and thousands of dog- or cat-owning households)
    - Table Number of Dog or Cat Owners Who Use Prescription Parasiticides, Fall 2021 - Winter 2022/23 (percent and thousands of dog- or cat-owning households)
  - Nearly Half of Dog Owners Use Oral Parasiticides
    - Table Usage Rates of Parasiticides by Type, Winter 2022/23 (percent of dog- or cat-owning households)
  - Parasiticide Usage by Number, Age of Pets
  - FRONTLINE Most Frequently Used Flea/Tick Brand
    - Table Share of Flea, Tick, and Parasite Product Usage by Brand, Winter 2022/23 (percent of parasiticide users)
- Parasiticide Purchasing Patterns by Channel
  - Vet Clinics Most Frequently Used Channel for Parasiticide Purchases
    - Table Parasiticide Purchase Patterns by Channel, Winter 2022/23 (percent of parasiticide users)
  - APPA Data Show Similar Purchase Patterns
  - Cross-Shopping Patterns by Channel
    - Table Parasiticide Cross-Purchasing Patterns by Channel, Winter 2022/23 (percent of parasiticide users)
  - Pet Owners More Likely to Purchase Medication at Veterinary Clinic
    - Table Pet Medication Purchasing Through Veterinary Channel, In-Office vs. Online, Winter 2022/23 (percent of veterinary channel pet medication purchasers)
    - Table In-Office Veterinary Channel Pet Medication Purchasing by Generation, Winter 2022/23 (percent of veterinary channel pet medication purchasers)
  - Share of Spending on Prescription Pet Medications by Channel
    - Table Share of Spending on Prescription Pet Medications by Channel, 2023 (percent of prescription pet medication purchasers)
  - Changes in Parasiticide Purchasing
    - Table Changes in Pet Medication Purchasing in Past 12 months, 2023 (percent of dog and cat owners)
    - Table Changes in Prescription Heartworm Medication Purchasing by Generation, 2023 (percent of dog and cat owners)
    - Table Changes in Prescription Flea/Tick Medication Purchasing by Generation, 2023 (percent of dog and cat owners)
    - Table Changes in Over-the-Counter Flea/Tick Medication Purchasing by Generation, 2023 (percent of dog and cat owners)
    - Table Veterinary Involvement in Changes in Medication Purchasing, 2023 (percent of dog and cat owners)