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. 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.
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.
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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. 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.
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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. In the pet industry in China (which is not a mature market
but a sunrise market), the penetration of pet ownership is almost 4x less than
that the U.S. Furthermore, online sale of tick repellent products and other pet
products has been rising in China. India is one of the fastest growing pet care
market in the world. Rise in disposable income and rapid urbanization are key
factors encouraging the people to adopt pets in the country. There are around
19 million pets in India; of this, 80%
are dogs, followed by cats, and smaller animals such as fish and birds. On an
average, 600,000 pets are adopted every year in India. Lack of regional
isoxazoline manufacturers in China and India is creating immense opportunities
for the U.S.-based manufacturers. In July 2020, Boehringer Ingelheim
International GmbH launched NexGard and Broadline brand of tick/flea
repellent in India.
These
factors are expected to provide lucrative opportunities to the U.S.-based
manufacturers such as Merck Animal Health Inc., Elanco Animal Health
Incorporated, and Zoetis Inc. to export their products to China and India.
Share of Prominent Players in U.S. Isoxazoline
Market
Key
players operating in the Isoxazoline market in the U.S. are Merck Animal Health
Inc., Elanco Animal Health Incorporated, Boehringer Ingelheim International
GmbH, and Zoetis Inc. Merck Animal Health Inc. produces tick repellent
under the brand name of Bravecto (fluralaner), an ectoparasiticide belonging to
the Isoxazoline group used to repel fleas and ticks (black-legged tick,
American dog tick, and brown dog tick) from cats and dogs for 12 weeks.
NexGard brand of Boehringer Ingelheim International GmbH contains Afoxolaner
that can kill fleas and ticks and prevent infections that cause the Lyme
disease. Zoetis Inc. manufactures Simparica Chewables, a monthly chewable
tablet consist of sarolaner (Isoxazoline); and Revolution Plus, a topical
solution for dogs and cats to control fleas and ticks. At last, Credelio brand
of Elanco Animal Health Inc. that contains lotilaner, a new class of
Isoxazoline compound is used to kill adult fleas and treat flea & tick
infestations for one month in dogs and puppies eight weeks of age or older and
weighing at least 4.4 lbs.
In
the U.S., in 2017, the total pet expenditure stood US$ 69.51 billion,
which is expected to increase by 3.8%
to reach US$ 72.13 billion
in 2018 as per the U.S. non-profit organization, American Pet Products
Association (APPA). Furthermore, according to APPAC, the share of pet medicine,
including Isoxazoline-based tick repellents products in the U.S. increased
from 21.7%
in 2017 to 22.3%
in 2018. Moreover, pet ownership in the U.S. increased from 56% in 1998 to 68% in 2017.
Thus, rise in pet care expenditure in the U.S., along with increase in market
share of pet medicine is boosting the demand for Isoxazoline-based tick
repellent products in the U.S.
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