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Veterinary Dermatology Drugs Market Growth, Demand, Key Drivers, Forecast To 2033
Veterinary Dermatology Drugs Market Growth
As per the report, 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 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%.
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Rising Pet Ownership Trends Fueling Growth In Veterinary Dermatology Drugs Market
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.
Product Innovations Transforming The Veterinary Dermatology Drugs Market
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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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
Contents of the report:
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
…..
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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