Press Release

Veterinary Dermatology Drugs Market to Grow with a CAGR of 5.25% Globally through 2028

Rising pet ownership and increasing incidence of dermatological conditions are factors driving the Global Veterinary Dermatology Drugs Market in the forecast period 2024-2028.

According to TechSci Research report, “Veterinary Dermatology Drugs Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Veterinary Dermatology Drugs Market stood at USD 14.82 Billion in 2022 and is anticipated to grow with a CAGR of 5.25% in the forecast period, 2024-2028. The global veterinary dermatology drugs market is a thriving segment within the broader animal healthcare industry. It plays a critical role in maintaining the health and well-being of pets and livestock by addressing skin and coat-related issues. As the demand for pet care and animal health continues to rise, the veterinary dermatology drugs market is experiencing significant growth. One of the most significant drivers of the global veterinary dermatology drugs market is the increasing number of pets worldwide. Pets are considered members of the family by many, leading to a heightened focus on their well-being. As pet ownership grows, so does the demand for products and services to keep them healthy, including dermatological treatments. The desire to provide the best care for pets has created a substantial market for veterinary dermatology drugs.

 

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Animal welfare and health awareness have been steadily rising across the globe. Pet owners and farmers alike are becoming more knowledgeable about the health needs of their animals. This awareness has led to increased visits to veterinarians and greater demand for specialized treatments, including those related to dermatological issues. As more people recognize the importance of addressing skin and coat problems in animals, the veterinary dermatology drugs market continues to expand. The global veterinary dermatology drugs market is also being driven by the expansion and modernization of animal healthcare facilities. Modern veterinary clinics and hospitals are equipped with advanced diagnostic tools and treatment options, allowing for more comprehensive care. This growth in infrastructure is not limited to developed countries; emerging markets are also witnessing increased investment in animal healthcare, further fueling the demand for dermatological drugs.

The Global Veterinary Dermatology Drugs Market is segmented into indication, animal type, distribution channel, route of administration and company.

Based on route of administration, the topical segment has emerged as the predominant market leader. Topical drugs are administered directly to the affected area, ensuring the active ingredients are delivered precisely where they are needed. This method minimizes systemic exposure and potential side effects, making it a safer and more efficient option for many dermatological conditions. Unlike oral or injectable medications, topical drugs have limited systemic absorption, reducing the risk of side effects and interactions with other medications. This makes them particularly appealing for animals with comorbidities or those taking multiple drugs. Pet owners find it relatively easy to administer topical treatments. They can apply creams, ointments, or sprays at home without the need for veterinary assistance. This convenience contributes to the growing popularity of topical treatments.

Based on region, North America segment is expected to grow during the forecast period. A significant portion of pet owners in North America has pet insurance, which encourages them to seek medical treatment, including dermatology care, when needed. Additionally, the region's relatively high disposable income allows pet owners to invest in their pets' health and well-being, leading to increased demand for dermatological solutions. North American pharmaceutical companies invest heavily in research and development, leading to the development of innovative veterinary dermatology drugs. These advancements not only cater to the domestic market but also make North America a key player in the global export of such medications.

The Asia Pacific region is experiencing rapid market growth. The region has stringent regulatory standards for animal healthcare products. These standards ensure the safety and efficacy of veterinary dermatology drugs, instilling confidence in both pet owners and veterinarians, further boosting the market.

 Major companies operating in Global Veterinary Dermatology Drugs Market are:

  • Elanco Animal Health Incorporated
  • Ceva Santé Animale
  • Vetoquinol
  • Merck & Co., Inc.
  • Zoetis Inc.
  • Virbac
  • Bimeda, Inc
  • Vivaldis
  • Bioiberica S.A.U.
  • Boehringer Ingelheim International GmbH

 

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“The global veterinary dermatology drugs market is thriving, driven by factors such as increasing pet ownership, growing awareness of animal health, technological advancements, expanded healthcare facilities, a rising incidence of dermatological conditions, regulatory support, and industry collaborations. As people continue to prioritize the health and well-being of their pets and livestock, the demand for dermatological treatments is expected to grow further, making this market an integral part of the global animal healthcare industry.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Global Veterinary Dermatology Drugs Market By Indication (Parasitic Infections, Allergic Infections, Others), By Animal Type (Companion Animals, Livestock Animals), By Distribution Channel (Hospital Pharmacies, Retail, E-commerce), By Route of Administration (Tropical, Injectable, Oral), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Veterinary Dermatology Drugs Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Veterinary Dermatology Drugs Market.

 

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