Veterinary Dermatology Drugs Market to Grow with a CAGR of 5.25% Globally through 2028
Rising pet ownership and increasing incidence of
dermatological conditions are factors driving the Global Veterinary Dermatology
Drugs Market in the forecast period 2024-2028.
According to TechSci Research report, “Veterinary
Dermatology Drugs Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Veterinary
Dermatology Drugs Market stood at USD 14.82 Billion in 2022 and is anticipated
to grow with a CAGR of 5.25% in the forecast period, 2024-2028. The global veterinary dermatology drugs market is a thriving segment
within the broader animal healthcare industry. It plays a critical role in
maintaining the health and well-being of pets and livestock by addressing skin
and coat-related issues. As the demand for pet care and animal health continues
to rise, the veterinary dermatology drugs market is experiencing significant
growth. One of the most significant drivers of the global veterinary dermatology
drugs market is the increasing number of pets worldwide. Pets are considered
members of the family by many, leading to a heightened focus on their
well-being. As pet ownership grows, so does the demand for products and services
to keep them healthy, including dermatological treatments. The desire to
provide the best care for pets has created a substantial market for veterinary
dermatology drugs.
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Animal welfare and health awareness have
been steadily rising across the globe. Pet owners and farmers alike are
becoming more knowledgeable about the health needs of their animals. This
awareness has led to increased visits to veterinarians and greater demand for
specialized treatments, including those related to dermatological issues. As
more people recognize the importance of addressing skin and coat problems in
animals, the veterinary dermatology drugs market continues to expand. The
global veterinary dermatology drugs market is also being driven by the
expansion and modernization of animal healthcare facilities. Modern veterinary
clinics and hospitals are equipped with advanced diagnostic tools and treatment
options, allowing for more comprehensive care. This growth in infrastructure is
not limited to developed countries; emerging markets are also witnessing
increased investment in animal healthcare, further fueling the demand for
dermatological drugs.
The Global Veterinary Dermatology Drugs Market is
segmented into indication, animal type, distribution channel, route of
administration and company.
Based on route of administration, the topical segment
has emerged as the predominant market leader. Topical drugs are administered
directly to the affected area, ensuring the active ingredients are delivered
precisely where they are needed. This method minimizes systemic exposure and
potential side effects, making it a safer and more efficient option for many dermatological
conditions. Unlike oral or injectable medications, topical drugs have limited
systemic absorption, reducing the risk of side effects and interactions with
other medications. This makes them particularly appealing for animals with
comorbidities or those taking multiple drugs. Pet owners find it relatively easy
to administer topical treatments. They can apply creams, ointments, or sprays
at home without the need for veterinary assistance. This convenience
contributes to the growing popularity of topical treatments.
Based on region, North America segment is expected to
grow during the forecast period. A significant portion of pet owners in North America
has pet insurance, which encourages them to seek medical treatment, including
dermatology care, when needed. Additionally, the region's relatively high
disposable income allows pet owners to invest in their pets' health and
well-being, leading to increased demand for dermatological solutions. North American
pharmaceutical companies invest heavily in research and development, leading to
the development of innovative veterinary dermatology drugs. These advancements
not only cater to the domestic market but also make North America a key player
in the global export of such medications.
The Asia Pacific region is experiencing rapid market
growth. The region has stringent regulatory standards for animal healthcare
products. These standards ensure the safety and efficacy of veterinary
dermatology drugs, instilling confidence in both pet owners and veterinarians,
further boosting the market.
Major companies operating in Global Veterinary
Dermatology Drugs Market are:
- Elanco Animal Health Incorporated
- Ceva Santé Animale
- Vetoquinol
- Merck & Co., Inc.
- Zoetis Inc.
- Virbac
- Bimeda, Inc
- Vivaldis
- Bioiberica S.A.U.
- Boehringer Ingelheim International GmbH
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“The global veterinary dermatology drugs market is
thriving, driven by factors such as increasing pet ownership, growing awareness
of animal health, technological advancements, expanded healthcare facilities, a
rising incidence of dermatological conditions, regulatory support, and industry
collaborations. As people continue to prioritize the health and well-being of
their pets and livestock, the demand for dermatological treatments is expected
to grow further, making this market an integral part of the global animal
healthcare industry.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Global Veterinary Dermatology Drugs Market By Indication (Parasitic
Infections, Allergic Infections, Others), By Animal Type (Companion Animals,
Livestock Animals), By Distribution Channel
(Hospital Pharmacies, Retail, E-commerce), By Route of Administration
(Tropical, Injectable, Oral), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Veterinary Dermatology Drugs Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Veterinary Dermatology Drugs Market.
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