Albany, NY -- (SBWire) -- 01/21/2019 --According to a new market report published by Transparency Market Research titled 'Tick Repellent Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026, the global tick repellent market is expected to reach US$ 1,064.9 Mn by 2026, expanding at a CAGR of 4.9% from 2018 to 2026. In terms of volume, the market is expected to reach 47,113 thousand units by 2026, expanding at a CAGR of 4.7% from 2018 to 2026. North America was the single largest tick repellent market by region in 2017 and its market share is expected to increase during the forecast period.

In terms of region, North America is the largest tick repellent market. The pet care market in North America is mature and the penetration of pet ownership in North America is high which is increasing the demand for pet care products including tick repellent products used for companion animals such as dogs and cats. Fipronil and Methoprene (specifically (S)-methoprene) are major active chemical ingredients present in spot on tick repellent products such as "Frontline Plus" brand of tick repellent products developed by Merck & Co., Inc.

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In North America, dogs and cats have the dominant position among pets. Although dogs dominate in North America, the population of cats is also growing at a fast rate. A major trend seen in the North American tick repellent market is the shifting demographics of pet owners from "baby boomers" to "millennial." Among millennial, it was seen that men are more likely to own a pet than women in North America. The major tick repellent markets in North America are the U.S., Canada, and Mexico. The U.S. is the dominant market in North America due to rising ownership of dogs in the country. In North America, fluralaner is a major active chemical ingredient present in chewable tick repellent tablets such as "Bravecto" developed by Merck & Co., Inc.

In Europe, among pet animals, dogs and cats hold a dominant position. Although the number of cats in Europe is more than the number of dogs, there is rising ownership of dogs in Europe. A major trend seen in Europe is Animal Assisted Intervention (AAI) which is an economical therapy for elderly and patient population in Europe. AAI or Pet Assisted Therapy (PAT) is increasing in popularity in Europe. All these factors are increasing the demand for pets in Europe which is subsequently increasing the demand for tick repellent products in Europe. The major tick repellent markets in Europe are the U.K., Germany, and France.

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In Asia Pacific, with rise in pet care industry there is increasing demand for tick repellent products for companion animals. The major tick repellent markets in the region are China, India, Japan, Thailand, Australia, and South Korea. China is the largest tick repellent market in the region due to its large and growing pet care market. In China, spot on or topical tick repellent products hold a larger market share than chewable tick repellent products. According to Asia Pacific animal healthcare company Zoetis Inc. China is the second largest animal healthcare market in the world. The company has introduced topical tick repellent products in China under the brand "Stronghold Plus" for cats. Rising cat ownership in China is increasing the demand for tick repellent products. In China, Zoetis Inc. introduced chewable tick repellent products under the brand "Simparica" for dogs. There is a rising demand for chewable "Simparica" in China which led the company to increase production of this brand at Kalamazoo, Michigan, the U.S. in May 2017.

South America is another significant tick repellent market due to its prominent pet care industry. The major markets in the region are Brazil and Argentina. In 2018, as per Brazilian Association of the Industry of Products for Pets (Abinpet), the total number pets in Brazil are 132 million, of which 52 million are dogs and 22 million are cats. In Brazil, the pet ownership of dogs is close to double the pet ownership of cats. Rising pet ownership in Brazil, especially ownership of dogs, increase in small dogs per capita, increasing disposable income, and changing attitude of pet owners toward their pets are increasing the demand for pets and pet care products which is increasing the demand for tick repellent products in Brazil.