The veterinary dermatology drugs global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Veterinary Dermatology Drugs Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The veterinary dermatology drugs market size has grown rapidly in recent years. It will grow from $7.75 billion in 2023 to $8.67 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to prevalence of dermatological conditions, increased veterinary spending, changing environmental factors, companion animal healthcare awareness, regulatory approvals, zoonotic disease awareness.
The veterinary dermatology drugs market size is expected to see rapid growth in the next few years. It will grow to $13.42 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to growing pet insurance adoption, rising incidence of allergies, globalization of pet products, holistic pet care approach, companion animal population growth, consumer education. Major trends in the forecast period include advancements in veterinary dermatology research, focus on allergy management, demand for topical treatments, nutraceuticals and dermatological health, telemedicine in veterinary dermatology, customized and personalized therapies, pet insurance and healthcare spending.
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Scope Of Veterinary Dermatology Drugs Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Veterinary Dermatology Drugs Market Overview
Market Drivers –
The increase number of pet owners is expected to propel the growth of the veterinary dermatology drugs market going forward. Pet owners are individuals who own or adopt a pet animal. Pet owners take care of their pets and their health, thus providing necessary health facilities to the pets, which increases the demand for veterinary drugs. For instance, in 2021, according to a national poll by the American Society for the Prevention of Cruelty to Animals (ASPCA), a US-based non-profit organization working to prevent animal cruelty, out of all the respondents, one in five households had a cat or dog from the beginning of the COVID-19 crisis, which accounted for 23 million households. 90% of dogs and 85% of cats were still in their adopted homes, and the households were not considering abandoning them again. Therefore, the increasing number of pet owners is driving the veterinary dermatology drugs market.
Market Trends –
Major companies operating in the veterinary dermatology drugs market are developing new enzyme-based healthcare solutions to sustain their position in the market. For instance, in October 2022, Pet King Brands Inc., a US-based pet care company unveiled an expansion to its ZYMOX Enzymatic Dermatology product line with three new offerings designed specifically for cats and kittens. These additions, featuring feline-centric packaging and the Seal of Endorsement from TICA (The International Cat Association), aim to address ear and skin conditions in felines without the use of antibiotics or harsh ingredients. The ZYMOX for Cats and Kittens range includes Enzymatic Ear Solution with 0.5% Hydrocortisone, Enzymatic Ear Cleanser, and Enzymatic Topical Cream with 0.5% Hydrocortisone. The products leverage the patented LP3 Enzyme System, providing effective solutions for common feline conditions such as ear infections, irritated skin, hot spots, ringworm, and acne.
The veterinary dermatology drugs market covered in this report is segmented –
1) By Product Type: Antifungal Drugs, Antibacterial Drugs, Antiparasitic Drugs
2) By Animal Type: Companion Animal, Livestock Animal
3) By Drug Indication: Parasitic Infections, Allergic Infections, Other Indications
4) By Route of Administration: Topical, Injectable, Oral
5) By Distribution Channel: Retail, Hospital Pharmacies, Online
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Regional Insights –
North America was the largest region in the veterinary dermatology drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the veterinary dermatology drugs market report forecast period. The regions covered in the veterinary dermatology drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the veterinary dermatology drugs market report are Elanco Animal Health Inc., Merk & Co. Inc., Zoetis Inc., Vetoquinol SA, Ceva Santé Animale, Virbac S.A., Bioibérica S.A.U., Bimeda Inc., Indian Immunologicals Ltd., Vivaldis Health and Fodds Pvt Ltd., IDEXX Laboratories Inc., Eli Lilly and Company, SavaVet, Toray Industries Inc., AB Science, Merial, Vetmedica, Mars Incorporated, Leti Pharma, Bioiberica S.A.U, Kindred Biosciences, Bayer Animal Health, Boehringer Ingelheim Vetmedica, Dechra Pharmaceuticals PLC, Norbrook Laboratories Limited, Kyoritsu Seiyaku Corporation, Veterinary Centers of America Inc., Heska Corporation, Biogénesis Bagó, Nexvet, Aratana Therapeutics
1. Executive Summary
2. Veterinary Dermatology Drugs Market Report Structure
3. Veterinary Dermatology Drugs Market Trends And Strategies
4. Veterinary Dermatology Drugs Market – Macro Economic Scenario
5. Veterinary Dermatology Drugs Market Size And Growth
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27. Veterinary Dermatology Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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