The Increasing Incidence of Pet Ownership in the World Is Boosting the Growth of the Global Veterinary Dermatology Drugs Market

Veterinary Dermatology Drugs Market
Veterinary Dermatology Drugs Market

 

Veterinary Dermatology Drugs Market, By Type of Drug (Antibiotics, Antifungal drugs, Anti-inflammatory drugs, Immunotherapy drugs, Parasiticides, Others), By Animal Type (Dogs, Cats, Horses, Others), And by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030.

Market Overview:

Veterinary dermatology drugs refer to pharmaceutical products specifically formulated for the treatment and management of skin conditions and diseases in animals. These drugs are designed to address a wide range of dermatological disorders in various animal species, including dogs, cats, horses, and livestock. Veterinary dermatology drugs may come in different forms such as topical creams, ointments, sprays, shampoos, oral medications, and injectables.

Competitive Landscape:

Major players operating in the global veterinary dermatology drugs market include IDEXX Laboratories, Inc., Kindred Biosciences, Inc., Ceva Sante Animale, Bayer AG, Dechra Pharmaceuticals PLC., Vetoquinol S.A., Virbac, Boehringer Ingelheim International GmbH, Elanco Animal Health Incorporated, and Zoetis Inc.

Key Market Drivers:

The rising trend of pet ownership, coupled with the increasing humanization of pets, has led to higher demand for veterinary dermatology drugs. Pet owners are increasingly seeking effective treatments for their pets' skin-related conditions, driving the demand for dermatology drugs. This is expected to augment the growth of the global veterinary dermatology drugs market. For instance, according to Forbes, in 2020, there were around 88.9 million pet dogs in the world.

There is an increasing focus on animal health and well-being, leading to greater awareness and proactive measures to address dermatological issues in animals. This has resulted in higher veterinary visits and the need for appropriate dermatology treatments.

Dermatological disorders, such as allergies, skin infections, parasitic infestations, and autoimmune diseases, are becoming more common in animals. The need to diagnose and treat these conditions is estimated to enhance the growth of the global veterinary dermatology drugs market.

Advancements in veterinary medicine have led to the development of innovative and more effective dermatology drugs. This includes the introduction of targeted therapies, improved formulations, and enhanced treatment protocols, driving the market growth.

Covid-19 Impact Analysis:

The COVID-19 pandemic led to disruptions in veterinary services, with reduced clinic visits and limited access to veterinary care for routine and non-emergency cases. This temporarily affected the overall demand for veterinary dermatology drugs. This restrained the growth of the global veterinary dermatology drugs market.

Key Takeaways:

·         North America is expected to dominate the growth of the global veterinary dermatology drugs market, owing to the large pet-owning population, increased awareness of animal health, and advancements in veterinary medicine. The United States, in particular, represents a major market for veterinary dermatology drugs. For instance, according to Forbes, around 66% of United States households own a pet.

·         Europe is estimated to witness high growth in the global veterinary dermatology drugs market, with countries like the United Kingdom, Germany, and France witnessing a high prevalence of dermatological conditions in animals. For instance, in 2020, Dechra and MediBaeacon partnered in order to develop an advanced non-invasive diagnostic tool for assessing skin issues in pets.

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