Press release
Global Veterinary Dermatology Drugs Market to Reach $14.81 Billion by 2029, Growing at 12% CAGR
Veterinary Dermatology Drugs Market Size
The surge in pet ownership is predicted to boost the advancement of the veterinary dermatology drugs industry in the future. Pet owners are those who buy or adopt a companion animal and are responsible for their well-being and health. This responsibility extends to providing essential healthcare services for the pets, thereby escalating the need for veterinary medications. Hence, the uptick in pet ownership is fuelling the growth of the veterinary dermatology drugs sector. For instance, Animal Medicines Australia, a non-government organization in Australia, reported a considerable rise in pet ownership in 2022. The count of pet owners elevated to 28,730.8 in 2022, an increase from 39% in 2021, marking a 24% increment. This showcases a powerful upwards direction in pet adoption rates and funding towards their care. The rise in pet ownership illustrates the increasing trend of owning pets in Australian homes. Thus, the mounting number of pet owners is steering the progress of the veterinary dermatology drugs market.
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What growth opportunities are expected to drive the veterinary dermatology drugs market's CAGR through 2034?
In the past few years, the veterinary dermatology drugs market has experienced a quick escalation in its size. The market value is projected to increase from $8.6 billion in 2024 to $9.57 billion in 2025, marking a compound annual growth rate (CAGR) of 11.2%. Multiple factors drove the growth during the historic period including the widespread presence of dermatological conditions, amplified veterinary expenditure, altering environmental aspects, increased awareness of companion animal healthcare, regulatory approvals, and enlightenment on zoonotic diseases.
The market size for veterinary dermatology drugs is predicted to experience rapid expansion in the coming years, growing to $14.81 billion in 2029 with an 11.5% compound annual growth rate (CAGR). Several factors such as the increasing uptake of pet insurance, a higher frequency of allergies, the globalization of pet products, a comprehensive approach to pet care, growth in the companion animal population, and consumer education contribute to this projected growth. Key trends in this duration include advancements in veterinary dermatology research, emphasis on allergy management, a rise in the demand for topical treatments, nutraceuticals and dermatological health, use of telemedicine in veterinary dermatology, custom and personalized therapies, and expenditure on pet insurance and healthcare.
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What are the emerging trends shaping the future of the veterinary dermatology drugs market?
Leading corporations in the veterinary dermatology drugs market are introducing new enzyme-based healthcare products to maintain their market status. For example, in October 2022, Pet King Brands Inc., an American pet care company, announced an enhancement to its ZYMOX Enzymatic Dermatology product offering with three new products, specifically for cats and kittens. The new products, which have feline-focused packaging and a Seal of Endorsement from TICA (The International Cat Association), aim to treat ear and skin issues in cats without the utilization of antibiotics or strong substances. The range for Cats and Kittens by ZYMOX comprises of an Enzymatic Ear Solution with 0.5% Hydrocortisone, an Enzymatic Ear Cleanser, and an Enzymatic Topical Cream with 0.5% Hydrocortisone. The beauty of these products is the patented LP3 Enzyme System, which is utilized to effectively manage common issues in cats like ear infections, skin irritation, hot spots, ringworm, and acne.
Which growth-oriented segments of the veterinary dermatology drugs market are leading the industry's development?
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
Subsegments:
1) By Antifungal Drugs: Azoles, Polyenes, Allylamines, Echinocandins
2) By Antibacterial Drugs: Beta-lactams, Tetracyclines, Macrolides, Lincosamides, Aminoglycosides
3) By Antiparasitic Drugs: Insecticides, Anthelmintics, Topical Treatments, Systemic Treatments
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What regions are leading the charge in the veterinary dermatology drugs market?
North America was the largest region in the veterinary dermatology drugs market in 2024. 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.
What companies are at the forefront of innovation in the veterinary dermatology drugs market?
Major companies operating in the veterinary dermatology drugs market are Elanco Animal Health Inc., Merk & Co. Inc., Zoetis Inc., Vetoquinol SA, Ceva Santé Animale, Virbac S.A., Bimeda Inc., IDEXX Laboratories Inc. SavaVet, Vetmedica, Mars Incorporated, Kindred Biosciences, Bayer Animal Health, Boehringer Ingelheim Vetmedica, Dechra Pharmaceuticals PLC, Norbrook Laboratories Limited, Veterinary Centers of America Inc., Heska Corporation, Biogénesis Bagó, Nexvet, Aratana Therapeutics
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What Is Covered In The Veterinary Dermatology Drugs Global Market Report?
• Market Size Forecast: Examine the veterinary dermatology drugs market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the veterinary dermatology drugs market for a structured understanding.
• Key Players Overview: Analyze major players in the veterinary dermatology drugs market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the veterinary dermatology drugs market.
• Segment Contributions: Evaluate how different segments drive overall growth in the veterinary dermatology drugs market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the veterinary dermatology drugs market.
• Industry Challenges: Identify potential risks and obstacles affecting the veterinary dermatology drugs market.
• Competitive Landscape: Review strategic developments in the veterinary dermatology drugs market, including expansions, agreements, and new product launches.
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