U.S.Isoxazoline Market: Introduction
The Isoxazoline market inthe U.S. was valued at ~US$ 847 Mnin 2019. It is anticipated to expand at a CAGR of ~14% from 2020 to2030. The pet care industry in the U.S. is expanding and driving the demand fortick repellents that can control and kill fleas/ticks on dogs or cats. This, inturn, is propelling the Isoxazoline market. The U.S. is a prominent pet marketin the world. Pet penetration in the country stood at around 68%in 2017. Isoxazoline-based tick repellent products are used to kill fleas orticks that can cause various diseases such as anaplasmosis disease, babesiosisdisease, ehrlichiosis disease, hepatozoonosis, lyme borreliosis, rickettsiosis,and tick-borne encephalitis. Anaplasmosis disease is caused by Ixodes ticks ordeer ticks and haematophagous species of ticks on cattle, sheep, goats, etc.The disease is prevalent across Europe, North America, South America, MiddleEast & Africa, and South America. Babesiosis disease is caused by ticks. Itis a major disease prevalent in the U.S., which, in turn, is likely to boostthe Isoxazoline market. Ehrlichiosis disease is caused by ticks. The disease isprevalent across southern and eastern region of the U.S. Hepatozoonosis is adisease caused by brown dog ticks and affects pets such as dogs. The disease isprevalent in the south eastern U.S. and is boosting the demand for Bravecto(Fluralaner) – a major active ingredient in Isoxazoline compound.
The LymeBorreliosis disease is caused by hard shelled deer ticks or Ixodes ticks.Infected animals and people generally remain unaware that they have beenbitten. The disease is prevalent across coastal U.S., North America, LatinAmerica, and South Africa. Rickettsiosis is a disease caused by ticks prevalentin the U.S., Latin America, Asia Pacific, and Africa. All these diseases causedby ticks have already impacted pets across the globe, which are boosting thedemand for Isoxazoline-based tick repellent products.
Key Drivers of U.S. IsoxazolineMarket
The numberof pets across the world has been rising, owing to changes in lifestyle andattitude of consumers toward pets. The number of pets per household has beenrising even in emerging economies. The U.S. has the highest dog population percapita (one dog for every four people). Online sale of pet care products,including pet healthcare products such as tick repellents, has been risingacross the globe. The global share of eCommerce in the pet industry stood atonly 5.3%in 2015. However, the share has been increasing at a rapid pace. This trend isestimated to continue during the forecast period. Thus, rise in penetration ofeCommerce in the global pet industry is boosting the demand for tick repellentproducts. 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 theU.S. Pets are seen more as “kids or family members” rather than kept for“defending the family.” Thus, pet owners have become highly conscious whilepurchasing tick repellent products containing Isoxazoline. The threat ofsubstitutes is low in the Isoxazoline market in the U.S. Homemade remedies actas substitutes in developing countries.
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Possible Factors Hampering U.S.Isoxazoline Market Growth
In theU.S., a tick repellent product containing Isoxazoline must be approved byvarious agencies such as the FDA and the EPA before it is sold by amanufacturer. Thus, a company needs strong research & developmentinfrastructure to sustain in the market.
Key Opportunities in U.S.Isoxazoline Market
The petindustry 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 thecountry is third in the world (after the U.S. and Brazil). According to theAmerican 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 thecountry stood at 17% in the same year. In the petindustry in China (which is not a mature market but a sunrise market), thepenetration 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 risingin China. India is one of the fastest growing pet care market in the world.Rise in disposable income and rapid urbanization are key factors encouragingthe people to adopt pets in the country. There are around 19 million pets inIndia; of this, 80% are dogs, followed by cats,and smaller animals such as fish and birds. On an average, 600,000 pets areadopted every year in India. Lack of regional isoxazoline manufacturers inChina and India is creating immense opportunities for the U.S.-basedmanufacturers. In July 2020, Boehringer Ingelheim International GmbH launchedNexGard and Broadline brand of tick/flea repellent in India.
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Thesefactors are expected to provide lucrative opportunities to the U.S.-basedmanufacturers such as Merck Animal Health Inc., Elanco Animal HealthIncorporated, and Zoetis Inc. to export their products to China and India.
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Share of Prominent Players in U.S.Isoxazoline Market
Key playersoperating in the Isoxazoline market in the U.S. are Merck Animal Health Inc.,Elanco Animal Health Incorporated, Boehringer Ingelheim International GmbH, andZoetis Inc. Merck Animal Health Inc. produces tick repellent under thebrand name of Bravecto (fluralaner), an ectoparasiticide belonging to theIsoxazoline group used to repel fleas and ticks (black-legged tick, Americandog tick, and brown dog tick) from cats and dogs for 12 weeks.NexGard brand of Boehringer Ingelheim International GmbH contains Afoxolanerthat can kill fleas and ticks and prevent infections that cause the Lymedisease. Zoetis Inc. manufactures Simparica Chewables, a monthly chewabletablet consist of sarolaner (Isoxazoline); and Revolution Plus, a topicalsolution for dogs and cats to control fleas and ticks. At last, Credelio brandof Elanco Animal Health Inc. that contains lotilaner, a new class ofIsoxazoline compound is used to kill adult fleas and treat flea & tickinfestations for one month in dogs and puppies eight weeks of age or older andweighing at least 4.4 lbs.
In theU.S., in 2017, the total pet expenditure stood US$ 69.51 billion,which is expected to increase by 3.8% to reachUS$ 72.13 billionin 2018 as per the U.S. non-profit organization, American Pet ProductsAssociation (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 ownershipin 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 inmarket share of pet medicine is boosting the demand for Isoxazoline-based tickrepellent products in the U.S.
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