Isoxazoline Market Trends and Dynamic Demand by 2030

Isoxazoline Market

Isoxazoline Market To Surpass Valuation Of US $ 3.6 Bn expand at a 14% by 2030

WILMINGTON, DELAWARE, UNITED STATES, June 23, 2022 /EINPresswire.com/ – The Isoxazoline market in the US 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 US 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 US 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 US, which, in turn, is likely to boost the Isoxazoline market. Ehrlichiosis disease is caused by ticks. The disease is prevalent across the southern and eastern region of the US Hepatozoonosis is a disease caused by brown dog ticks and affects pets such as dogs. The disease is prevalent in the south eastern US 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 humans generally remain unaware that they have been bitten. The disease is prevalent across coastal US, North America, Latin America, and South Africa. Rickettsiosis is a disease caused by ticks prevalent in the US, 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 US Isoxazoline Market

The number of pets across the world has been rising, owing to changes in lifestyle and attitude of consumers towards pets. The number of pets per household has been rising even in emerging economies. The US 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, the rise in penetration of eCommerce in the global pet industry is boosting the demand for tick repellent products.

The pet industry in the US has been expanding at a healthy pace. The ownership of pets has been rising among the millennial population in the US 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 US Homemade remedies act as substitutes in developing countries.

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Possible Factors Hampering US Isoxazoline Market Growth

In the US, 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 US 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 US and Brazil). According to the American Pet Products Association (APPA), pet ownership in the US 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 of the US 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 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 US-based manufacturers. In July 2020, Boehringer Ingelheim International GmbH launched the NexGard and Broadline brand of tick / flea repellent in India.

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These factors are expected to provide lucrative opportunities to US-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 US Isoxazoline Market

Key players operating in the Isoxazoline market in the US 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. The NexGard brand of Boehringer Ingelheim International GmbH contains Afoxolaner that can kill fleas and ticks and prevent infections that cause 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.

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In the US, in 2017, the total pet expenditure cost US $ 69.51 billion, which is expected to increase by 3.8% to reach US $ 72.13 billion in 2018 as per the US non-profit organization, American Pet Products Association (APPA). Furthermore, according to APPAC, the share of five medicines, including Isoxazoline-based tick repellents products in the US increased from 21.7% in 2017 to 22.3% in 2018. Moreover, five ownership in the US increased from 56% in 1998 to 68% in 2017. Thus, rise in pet care expenditure in the US, along with increase in market share of pet medicine is boosting the demand for Isoxazoline-based tick repellent products in the US

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