The global Veterinary Dermatology Drugs Market is expected to reach USD 28.69 billion by 2030, registering a CAGR of 8.89% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is driven by increasing pet expenditure, humanization of pets, robust R&D pipeline, launch of new products, the prevalence of dermatologic conditions, and initiatives by key companies. For example, in June 2023, Zoetis received FDA clearance for Apoquel Chewable— the country’s first and only chewable pharmaceutical for controlling allergic itch and inflammation in dogs. This expanded the company’s portfolio and supported its growth objectives.
The
COVID-19 pandemic and macroeconomic headwinds from 2020 to 2022 had both
positive and negative impacts on the market. This included operational challenges,
supply chain disruption, limited access to veterinary care, spike in pet
adoption, adoption of telemedicine, and increased penetration of pet insurance.
Vimian for instance, reported dampened growth during Q1 2022 in its dermatology
& specialty care segments due to volatility in shipments between quarters.
By Q3 2022, the company reported robust growth in Dermatology & Specialty
Care segments. Zoetis on the other hand witnessed volume growth of 14%, 3%, and
9% from in-line portfolio, including its dermatology products during Q2, Q3,
and Q4 2021 respectively. In 2022, however, Zoetis reported 1-2% volume growth
in its dermatology portfolio every quarter.
Ongoing
research and development efforts in the field of veterinary dermatology have
led to the creation of more effective and user-friendly drug formulations.
These formulations are often easier to administer and can provide quicker
relief for pets, ensuring medication compliance. Growing initiatives by key
market players is expected to propel the R&D pipeline and promote the
launch of new products in the market. In May 2023, Dechra Pharmaceuticals PLC
for example, partnered with ILC Therapeutics in Scotland to research and
develop the latter’s Caniferon product for the treatment of atopic dermatitis
in dogs. This added to the company’s product pipeline.
List of Key Players of Veterinary Dermatology Drugs
Market
- Elanco
- Ceva
- Vetoquinol
- Merck &
Co., Inc.
- Zoetis
- Virbac
- Bimeda, Inc
- Vivaldis
- Bioiberica
S.A.U.
- Boehringer
Ingelheim International GmbH
Related Press
Release@ Veterinary Dermatology Drugs Market Report
Veterinary Dermatology Drugs Market Report Highlights
- By
indication, the parasitic infections segment dominated the market and held
the largest revenue share of more than 40.0% in 2022 owing to increasing
strategic initiatives by key companies
- For
instance, Virbac expanded its medicinal product line by purchasing the
rights to a number of early-stage parasiticides from Elanco in March 2021
- The allergic
infections segment is anticipated to witness the fastest CAGR of over 9.2%
during the forecast period
- The
prescription segment dominated the market in 2022, whereas, the OTC
segment is anticipated to grow at the fastest CAGR of about 9.1% from 2023
to 2030
- The
companion animals dominated the market in 2022, due to the rise in pet
ownership, public awareness, and demand for high-quality animal care
- The topical
segment dominated the market in 2022 is expected to witness lucrative CAGR
during the forecast period
- By
distribution channel, hospital pharmacies dominated the market with a
revenue share of 62.0% in 2022
- North
America held the highest revenue share of over 38.0% of the market in 2022
Veterinary Dermatology Drugs
Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 15.80 billion |
|
Revenue forecast in 2030 |
USD 28.69 billion |
|
Growth rate |
CAGR of 8.89% from 2023 to 2030 |
|
Base year for estimation |
2022 |
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Veterinary Dermatology Drugs Market Segmentation
Grand
View Research has segmented the global veterinary dermatology drugs market
based on indication, type, animal type, route of administration, distribution
channel, and region:
Veterinary Dermatology Drugs Indication Outlook (Revenue,
USD Million, 2018 - 2030)
- Parasitic
Infections
- Allergic
Infections
- Others
Veterinary Dermatology Drugs Type Outlook (Revenue, USD
Million, 2018 - 2030)
- Prescription
- OTC
Veterinary Dermatology Drugs Animal Type Outlook
(Revenue, USD Million, 2018 - 2030)
- Companion
Animals
- Dogs
- Cats
- Horses
- Others
- Livestock
Animals
- Cattle
- Others
Veterinary Dermatology Drugs Route Of Administration
Outlook (Revenue, USD Million, 2018 - 2030)
- Topical
- Oral
- Injectable
Veterinary Dermatology Drugs Distribution Channel Outlook
(Revenue, USD Million, 2018 - 2030)
- Hospital
Pharmacies
- Retail
- E-commerce
Veterinary Dermatology Drugs Regional Outlook (Revenue,
USD Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Rest of
Europe
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Thailand
- Rest of
Asia Pacific
- Latin
America
- Brazil
- Mexico
- Argentina
- Rest of
Latin America
- Middle East
& Africa
- South
Africa
- Saudi
Arabia
- UAE
- Kuwait
- Rest of MEA
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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