Veterinary Dermatology Drugs Industry Overview
The global veterinary dermatology drugs market size is anticipated to reach USD 14.6 billion by 2028, according to a new report by Grand View Research. The market is expected to expand at a CAGR of 9.3% from 2021 to 2028. Increasing incidences of dermatology diseases such as fleas and ticks and allergic dermatitis are expected to boost the market growth. Furthermore, a growing number of clinical trials related to veterinary dermatology drugs is also anticipated to fuel market growth.
Veterinary Dermatology Drugs Market Segmentation
Grand View Research has segmented the global veterinary dermatology drugs market on the basis of the animal type, route of administration, indication, distribution channel, and region:
Based on the Animal Type Insights, the market is segmented into Companion Animal and Livestock Animal.
- The companion animal segment dominated the market and held the largest revenue share of more than 70.0% in 2020. Rising pet ownership is expected to boost the market growth. The segment is further divided into dogs, cats, horses, and others. The dogs' segment is anticipated to hold the largest market share due to high product availability for the treatment of dogs.
- The livestock animal segment held the second-largest revenue share in 2020. It is further classified into cattle and others. The market for veterinary dermatology drugs is expected to be driven by rising demand for animal protein and the prevalence of parasitic diseases in livestock animals. Furthermore, the cattle segment is expected to witness the fastest CAGR of 9.1% during the forecast period.
Based on the Route of Administration Insights, the market is segmented into Oral, Topical, Injectable.
- The oral segment dominated the market and held the largest revenue share of 37.0% in 2020. The high availability of oral drugs in the form of tablets, pills, and feed additives, among others, is expected to boost the market growth. Initiatives by market players related to this segment are also expected to boost the market growth.
- The injectable segment is expected to witness the fastest CAGR of over 10.5% during the forecast period as injectable drugs allow convenient administration in a much smaller number of doses as compared to oral drugs.
Based on the Indication Insights, the market is segmented into Parasitic Infections, Allergic Infections and Others.
- The parasitic infections segment dominated the market and held the largest revenue share of more than 45.0% in 2020. According to WebMD, a study conducted by Colorado State University in May 2021, found Lyme disease-carrying ticks, abundantly near beaches of Northern California, the U.S. Therefore, high incidences of such parasitic diseases are expected to boost the market growth.
- The allergic infections segment is expected to witness the fastest CAGR of over 10.2% during the forecast period. The high prevalence of diseases such as atopic dermatitis and other itching disorders, especially in companion animals is expected to contribute to market growth. Furthermore, pet owners making more pet care decisions are also expected to boost the growth of the market.
Based on the Distribution Channel Insights, the market is segmented into Retail, E-Commerce, Hospital Pharmacies.
- The hospital pharmacies segment dominated the market and held the largest revenue share of 42.4% in 2020. The rising number of hospital pharmacies is expected to boost the growth of the segment. Moreover, animal owners tend to reach out to veterinary hospitals first for the treatment of their pets or farm animals. This makes hospital pharmacies primary centers for buying the prescribed medications, hence the leading market share.
- The e-commerce segment is expected to witness the fastest CAGR of over 10.5% during the forecast period. This growth is attributable to the growing penetration of veterinary products specific e-commerce websites and veterinary telehealth platforms. The segment is also expected to take over the retail segment by 2028 in terms of its market share.
Veterinary Dermatology Drugs Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies Profile & Market Share Insights
Vendors are investing in product launches, geographical expansions, collaborative agreements, and acquisitions, to sustain in the market. The market is expected to become highly competitive as many startups are seeking opportunities in this sector.
Some of the prominent players operating in the global veterinary dermatology drugs market include,
- Elanco
- Vetoquinol S.A.
- Ceva
- Merck & Co., Inc.
- Zoetis
- Virbac
- Bimeda, Inc.
- Vivaldis
- Bioiberica S.A.U
- Indian Immunologicals Ltd.
Order a free sample PDF of the Veterinary Dermatology Drugs Market Intelligence Study, published by Grand View Research.
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