Veterinary dermatology drugs are widely used for the treatment of various skin diseases in animals like dogs, cats, horses and others.
Veterinary dermatology drugs are widely used for the treatment of various skin diseases in animals like dogs, cats, horses and others. These drugs offer various benefits like effective treatment of fungal, bacterial and parasitic skin infections along with relief from itching & inflammation. With growing pet adoption and increasing awareness about animal healthcare, the demand for veterinary dermatology drugs is rising.
The global Veterinary Dermatology Drugs Market is estimated to be valued at US$ 2.62 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of various skin diseases among pets is a key factor driving the growth of this market. For instance, according to AVMA (American Veterinary Medical Association), itchiness and skin issues are among the most common problems affecting dogs. Moreover, changing lifestyle and increasing nuclear families are leaving pets alone for longer hours, which is fueling the risk of skin infections. Veterinary dermatology drugs help animal owners to effectively treat such cases without any hassle. Rising pet healthcare spending and growing adoption of online channels by veterinary pharmacies for sales are some other significant trends fueling the demand for veterinary dermatology drugs over the forecast period.
Segment Analysis
The global veterinary dermatology drugs market can be broadly segmented into antibiotics, antifungals, antivirals, parasiticides, Atopical therapeutic creams and others. Antibiotics form the largest and most dominating segment as they are widely used to treat bacterial skin infections in animals. Bacterial infections are among the most common causes of dermatitis in pets. Antibiotics like clindamycin and cephalosporins are frequently prescribed by veterinarians.
Key Takeaways
The global Veterinary Dermatology Drugs Market Demand is expected to witness high growth over the forecast period. North America accounts for the largest share currently due to high pet ownership and rising veterinary healthcare expenditure in the region. Europe is also a major regional market supported by increasing awareness about animal health.
Regional analysis
North America is expected to dominate the global market over the forecast period owing to rising animal healthcare expenditure and increasing pet adoption in countries like the US and Canada. Growing pet humanization trend and rising cases of skin disorders in pets are also boosting market growth.
Key players
Key players operating in the veterinary dermatology drugs market are Zoetis Inc., Elanco Animal Health Incorporated, Boehringer Ingelheim International GmbH, Virbac, Vetoquinol S.A., Dechra Pharmaceuticals PLC, Bayer AG, Ceva Sante Animale, Kindred Biosciences, Inc., IDEXX Laboratories, Inc. Zoetis Inc. and Elanco Animal Health Incorporated are the leading players owing to their wide product portfolios and global market presence.
For More Details On The Report, Read https://www.ukwebwire.com/veterinary-dermatology-drugs-market-driven-by-rising-pet-healthcare-expenditure/
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