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Global Veterinary Dermatology Drugs Market Size and Share Analysis 2023-2028
The Global Veterinary Dermatology Drugs Market is projected to experience substantial growth during the forecast period (2023-2028), increasing from USD 5,964 million in 2023 to USD 8,408 million by 2028, at a CAGR of 7.11%.
Veterinary dermatology, also known as veterinary skin care, deals with the treatment of skin disorders in animals. Such conditions are commonly observed in animals due to behaviors like licking, biting, shaking their heads repeatedly, and excessive scratching of fur and skin. Veterinary dermatology drugs are primarily used to address skin infections or diseases in animals, with a particular focus on companion animals and livestock.
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USD 5.6 billion in 2021
Animal, Route of Administration, Indication, Distribution Channel, and Geography
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The outbreak of COVID-19 had a significant impact on the veterinary dermatology drugs market, as healthcare services were limited due to social distancing measures implemented worldwide. However, there was a notable surge in pet adoption during the pandemic, which positively influenced services and medications for companion animal care. For instance, a new article published by the CBC/Radio-Canada in May 2022 reported an increase in the demand for dog services in Prince Edward Island, Canada, as COVID-19 restrictions eased during the later phases of the pandemic. Additionally, certain pet care facilities in the region experienced nearly double the business in 2022. This trend led to increased availability and demand for veterinary dermatology drugs during the pandemic, fostering growth in the global market, which is expected to continue during the forecast period.
Several factors contribute to the demand for dermatology drugs in veterinary care, including the growing burden of dermatological diseases in pets and the increasing adoption of pets and improved animal care. These factors are expected to drive overall market growth in the foreseeable future.
Many animals worldwide suffer from various skin diseases, such as parasitic skin diseases, alopecia, dander-related skin disorders, intrinsic skin infections, skin cancer, autoimmune skin diseases, and other internal skin abnormalities. Atopic dermatitis (AD), one of the most common pet allergies, has become increasingly prevalent in dogs due to factors like increased indoor exposure and processed foods for pets. Consequently, the burden of AD among canines is rising, leading to an increased demand for dermatology drugs to address these conditions and fuel market growth.
Competitiveness in the market is further fueled by the growing availability of research sources and company research and development activities to innovate new products. For instance, in February 2021, IVC Evidensia, a major veterinary care provider in Europe, launched VetSoothe, an exclusive range of dermatologist-recommended and clinically proven products in the United Kingdom and Netherlands clinics. With a growing emphasis on better dermatological health for pets and livestock animals, the increasing number of products is expected to contribute to the growth of the veterinary dermatology drugs market.
However, market growth may be restrained over the analysis period due to factors such as the low availability and lack of awareness of these drugs. Addressing these challenges will be crucial in sustaining the market’s expansion in the future.
The market is segmented based on various factors, including animal, route of administration, indication, distribution channel, and geography.
Segmentation by Animal
Segmentation by Route of Administration
Segmentation by Indication
Segmentation by Distribution Channel
Segmentation by Geography
North America – United States, Canada, Mexico
Europe – United Kingdom, Germany, France, Italy, Spain, and Rest of Europe
Asia-Pacific – China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific
Latin America – Brazil, Argentina, and Rest of Latin America
Middle East and Africa – GCC, South Africa, and Rest of Middle East and Africa
The companion animal segment is expected to hold the largest share in the animal segment of the veterinary dermatology drugs market. Companion animals, including dogs, guinea pigs, rabbits, rats, birds, and cats, are highly favored as pets and have been proven to have positive effects on the physical and mental health of humans over the years. Regardless of whether an individual is a first-time adopter or an experienced pet parent, it is crucial to provide proper care for the health of companion animals. Consequently, there is a notable increase in the demand for companion animal dermatological drugs worldwide due to rising pet adoption, a higher prevalence of companion animal diseases, and growing awareness about companion animal health. As a result, the companion animal segment is projected to experience substantial growth during the forecast period.
According to the annual report of the FEDIAF in July 2022, cats and dogs are the most popular companion animals in Europe, with a significant number of households owning them. For instance, in 2021, there were 110 million household cats and 90 million dogs in Europe. Countries like Russia, Germany, and France had the highest number of cats, while Russia, the United Kingdom, and Germany had the most dogs. This growing number of pets is likely to lead to an increased need for dermatological care, as skin infections and diseases are among the most common health issues in companion animals, contributing to the growth of the segment.
Furthermore, similar to human allergies, canine allergies, such as atopic dermatitis (AD), are becoming more prevalent. Chronic allergies in dogs manifest as pruritus and recurring inflammatory lesions, leading to frequent visits to veterinary clinics for skin-related issues, including allergies, infections, and endocrine disorders. This rise in skin diseases in pets is anticipated to drive the demand for dermatology drugs for treatment and contribute to the growth of the companion animal segment.
Moreover, the introduction of new products for companion animals by market players plays a vital role in the market’s expansion. For instance, in May 2021, Elanco launched an oral flea and tick product, Credelio CAT (lotilaner), designed specifically for cats in the United States. Such new product launches expand the portfolios of major players in veterinary dermatology drugs and are expected to drive the market during the forecast period.
The oral route of administration currently holds the major share in the studied market, amounting to USD 2,575 million in 2022. It is projected to witness a Compound Annual Growth Rate (CAGR) of 6.75% over the forecast period. The oral route is the most commonly used method of drug administration due to its convenience, patient preference, cost-effectiveness, and ease of large-scale manufacturing. Both companion and food animals typically receive medications through the oral route, with dogs and cats being administered tablets, capsules, solutions, suspensions, and pastes applied to their forelimbs.
Regarding the distribution channel, hospital pharmacies dominate the studied market, accounting for USD 2,534 million in 2022, and are expected to witness a CAGR of 6.96% over the forecast period. Hospital pharmacies provide healthcare services that encompass selecting, preparing, storing, compounding, and dispensing medicines and medical devices, as well as offering guidance to healthcare professionals and patients on their safe and effective use. The majority of veterinary drugs associated with acute infections are dispensed by hospitals and clinics, as the severity of infections often determines whether individuals seek medical attention at such establishments.
The North American region is expected to experience a high growth rate in the veterinary dermatology drugs market during the forecast period. This growth is attributed to the high prevalence of skin conditions such as pruritus, sores, alopecia, masses, eruptions, scales, seborrhea, pustules, and draining tracts in animals in this region.
In developed countries like the United States and Canada, the growth of the veterinary dermatology drugs market is driven by an increase in pet adoption, rising awareness about animal health, and higher expenditure on animal healthcare. During the COVID-19 pandemic, pet ownership in the United States increased to 70% of households, with around 14% of total pet owners acquiring new pets. In Canada, approximately 38% of homes owned cats and 35% owned dogs in 2021. Additionally, pet owners in Canada spent more on pet healthcare than ever before, with 17% prepared to spend over USD 500 per year on their pets’ healthcare. This surge in pet adoption and increased spending on animal health, including veterinary dermatological disease management, is anticipated to drive the market in the region.
Key market players are actively implementing strategic plans and launching new products to contribute to the growth of the market. For instance, in July 2021, Virbac Corporation introduced Cyclavance (cyclosporine oral solution) USP-modified, an oral solution for the control of atopic dermatitis in dogs. The increasing number of recent developments and new product launches by market players are propelling the growth of the North American region in the veterinary dermatology drugs market, and it is expected to witness a significant growth rate during the forecast period.
The veterinary dermatology drugs market exhibits moderate competitiveness, characterized by the presence of a few key players. Presently, there is an upward trend in mergers and acquisitions among market participants, contributing to the growth of the veterinary dermatology drugs market. The major players in this market are actively involved in product development and forging strategic alliances to effectively meet the increasing global demand and establish a strong position within the industry. Prominent companies operating in this studied market include Elanco, Bimeda, Inc., Merck & Co., Inc., Virbac, Ceva, Mars Incorporated (Virginia, USA), Zoetis, Inc., and Nestle S.A., among others.
Key companies profiled in this report include Elanco, Bimeda, Inc., Merck & Co. Inc., Virbac, Ceva, Mars, Incorporated, Zoetis Inc., Leti Pharma, Vivaldis, Bioiberica S.A.U., Indian Immunologicals Ltd.
Recent Industry Developments
In October 2022, Animal Dermatology Group, Inc. acquired the esteemed veterinary dermatology clinic, Animal Dermatology Referral Clinic, located in the Dallas-Fort Worth area.
Also in October 2022, Pet King Brands, Inc. introduced three new products to their existing line of veterinarian-recommended ZYMOX Enzymatic Dermatology products. These additions aim to provide effective solutions for cats and kittens experiencing issues with their ears and skin.
Key Questions Answered
What is the study period of the Global Veterinary Dermatology Drugs Market?
The Global Veterinary Dermatology Drugs Market has been studied from 2018 to 2028.
What is the growth rate of the Global Veterinary Dermatology Drugs Market?
The Global Veterinary Dermatology Drugs Market is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.11% over the next 5 years.
What is the size of the Global Veterinary Dermatology Drugs Market?
The Global Veterinary Dermatology Drugs Market is expected to reach USD 5,964 million in 2023 and is anticipated to grow at a CAGR of 7.11%, reaching USD 8,408 million by 2028.
Which region exhibits the highest growth rate in the Global Veterinary Dermatology Drugs Market?
Asia-Pacific is experiencing the highest CAGR from 2018 to 2028 in the Global Veterinary Dermatology Drugs Market.
Which region holds the largest share in the Global Veterinary Dermatology Drugs Market?
As of 2022, North America holds the highest market share in the Global Veterinary Dermatology Drugs Market.
Who are the key players in the Global Veterinary Dermatology Drugs Market?
The major companies operating in the Global Veterinary Dermatology Drugs Market include Vibrac, Bimeda, Inc., Zoetis, Inc., Ceva, and Elanco.