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Veterinary Dermatology Drugs Market Size by Type (Antibacterial Drugs, Antiparasitic Drugs, Antifungal Drugs, and Others), Animal Type (Companion Animals and Livestock Animals), Route of Administration (Oral, Injectable, and Topical), Indication (Skin Cancer, Infectious Diseases, Parasitic Infections, Autoimmune Skin Diseases, and Others), Distribution Channel (Hospital Pharmacies, Online Pharmacies and Retail Pharmacies) Regions, Segmentation, and Projection till 2029

CAGR: 9.44% Current Market Size: USD 7.63 billion Fastest Growing Region: APAC

Largest Market: North AmericaProjection Time: 2022-2029Base Year: 2021

Global Veterinary Dermatology Drugs Market- Market Overview

Global veterinary dermatology drugs market is expected to grow from USD 7.63 billion in 2021 to USD 15.71 billion by 2029, at a CAGR of 9.44% during the Projection period 2022-2029. The increasing prevalence of diseases among animals and high investments by some key players is one of the primary drivers responsible for market growth. Further, the increasing adoption of pets in many regions has led to rising demand for veterinary dermatology drugs. The increasing number of veterinary clinics and rising awareness related to animal diseases are also significant advances driving the veterinary dermatology market.

Veterinary dermatology drugs treat infectious skin diseases and other such animal diseases. Many animals across the globe are suffering from various diseases such as autoimmune skin diseases, skin cancer, infectious diseases, etc. Veterinary dermatologists diagnose and operate infectious diseases such as fungal, bacterial, and viral diseases in animals. The advancements in research sources and medical facilities have provided the scope for expansion in veterinary dermatology drugs. The drugs used for several fungal, bacterial, and viral diseases in animals are veterinary dermatology drugs. The cost of veterinary dermatology drugs may depend upon the type of disease. These drugs are also available depending upon the region.

Global Veterinary Dermatology Drugs Market CAGR

Request Sample:- Global veterinary dermatology drugs market

Market Dynamics:-

Drivers

  • Rising ownership of pets will boost the market growth.

The increasing ownership of pets, especially among the millennial population, will drive the market's overall growth. The increasing per capita income is one of the crucial factors determining the ownership of pets among the young population. Pet owners are concerned about the well-being of their pets, and thus they spend on their food and drugs from time to time to ensure good health. The increase in pet ownership has resulted in a rising demand for veterinary dermatology drugs.

  • Increasing research and development

The increasing research and development in veterinary dermatology drugs also promote the growth of such therapeutics. Many research studies focus on the development of innovation in veterinary dermatology drugs. Implementing innovative and latest technologies is attractive to various development in veterinary dermatology drugs. Veterinary dermatology drugs are required for the effective and fast treatment of skin cancer and other skin-related disorders.

Restraints

  • Adverse effects of the veterinary dermatology drugs

There are potential side effects of veterinary dermatology drugs which restrain the market growth. These adverse effects can cause mild to great difficulties to the patient. Witnessing such adverse effects, many patients hesitate to the veterinary dermatology drugs. Also, these drugs may reduce pets' appetite, which may lead to dehydration and other such disorders.

Opportunities

  • Emergence of advanced medical therapeutics

The increasing incidence of skin cancer and other chronic diseases has increased veterinary dermatology drugs for pets in developing and developed regions. The healthcare industry is receiving tremendous investment from the government and private players. Advanced technology development is necessary to receive accurate results from dermatology drugs. The previous therapies and drugs had certain technological limitations. Advance veterinary dermatology drugs help in treating cancer cells effectively.

Challenges

  • Imposition of stringent regulations

The veterinary dermatology drugs require the passing of stringent regulations to be launched in the market. The drug process helps limit skin cancer cells, which grow abnormally in the skin. Thus, the approval of veterinary dermatology drugs requires passing several stages to be proved safe for the required applications.

Segmentation Analysis:-

The global veterinary dermatology drugs market has been segmented based on type, animal type, route of administration, indication, distribution channel, and regions.

By Type

The type segment includes antibacterial drugs, antiparasitic drugs, antifungal drugs and others. The antibacterial drugs segment led the veterinary dermatology drugs market with a market share of around 46.62% in 2021. The antibacterial drugs consist of a majority of shares as it is prescribed by most vets. Bacteria are one of the key reasons for developing skin infections among various animals, including dogs, cats, livestock, etc. Antibacterial drugs are effective in such bacterial infections and are proven to reduce the infection early.

By Animal Type

The animal type segment includes companion animals and livestock animals. The companion animals segment includes dogs, cats, horses, and others. The livestock animals include cattle, poultry, and others. The companion animals segment led the veterinary dermatology drugs market with a market share of around 65.99% in 2021. Companion animals are mostly pet animals, and also, they are the ones who suffer most from chronic skin diseases. There is a high probability of skin cancer among dogs and cats. Also, there is high availability of veterinary dermatology drugs for companion animals.

By Route of Administration

The route of administration segment includes oral, injectable, and topical. The oral segment led the veterinary dermatology drugs market with a market share of around 46.92% in 2021. Oral dermatology drugs include tablets, pills, feed additives, etc. Oral drugs are easy to provide to the animals by mixing them with food. Oral medicines are also easily available and are widely prescribed by vets.

Global veterinary dermatology drugs market By Route Administration

By Indication

The indication segment includes skin cancer, infectious diseases, parasitic infections, autoimmune skin diseases, and others. The parasitic infections segment led the veterinary dermatology drugs market with a market share of around 34.02% in 2021. Parasitic infections are common among both companion and livestock animals. The incidence of parasitic infections is frequent in dogs and cats, and it leads to various skin diseases. Parasitic infections require the use of veterinary dermatology drugs to be contained early.

By Distribution Channel

The distribution channel segment includes hospital pharmacies, online pharmacies and retail pharmacies. The hospital pharmacies segment led the veterinary dermatology drugs market with a market share of around 45.11% in 2021. Hospital pharmacies have the highest market shares as most pet owners are willing to purchase these drugs directly outside the veterinary clinics. Veterinary dermatology drugs are widely available in hospital pharmacies.

By Regional Analysis:-

The regions analyzed for the veterinary dermatology drugs market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the automated and closed-cell therapy processing market and held a 36.27% share of the market revenue in 2021.

  • The presence of an established veterinary healthcare system and increasing investments by public and private players is one of the primary reasons for the development of veterinary dermatology drugs. The manufacturers present in the region are investing hugely in veterinary dermatology drugs and the development of advanced technology systems and instruments. There is a larger number of patient populations who suffer from skin infections. The region is investing in advanced high imaging instruments propelling new growth opportunities for the market.
  • The Asia-Pacific region is likely to register the highest growth during the Projection period due to the rising demand for veterinary dermatology drugs for both companion and livestock animals. Moreover, India and China are some of the key countries in the veterinary dermatology drugs market in the Asia-Pacific region. Further, the rising veterinary spending is fueling up the market growth.

By Country Analysis:-

Why USA is largest market of Veterinary Dermatology Drugs?

In the North American region, USA is the largest market shareholder in the veterinary dermatology drugs market, with an estimated market share of around 54.94% by the end of 2022. The extensive applications of veterinary dermatology drugs in the chronic animal skincare industry are anticipated to drive the market growth of veterinary dermatology drugs in the USA. Also, the numbers of pet owners in the USA are high compared to other countries.

Why China is growing in Veterinary Dermatology Drugs Market?

China is the largest veterinary dermatology drugs market globally, with an estimated market share of 43% across the Asia region by 2022. There are many manufacturers in the country, and also, there are high numbers of pharmaceutical raw material suppliers.  The high sales of drugs indicate a significant market growth opportunity for veterinary dermatology drugs for several animals.

Key Industry Players Analysis:-

To increase their market position in the global veterinary dermatology drugs business, top companies are focusing on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, and partnerships, joint ventures, etc.

  • Elanco
  • Indian Immunologicals Ltd.
  • Vetoquinol S.A
  • Bioiberica S.A.U
  • Ceva
  • Virbac Merck & Co., Inc.
  • Zoetis
  • Virbac
  • Vivaldis
  • Bimeda Inc.
  • IDEXX Laboratories
  • SAVAVET
  • AB Science
  • Toray Industries
  • Bayer Animal Health

Latest Development: -

In June 2021, a leading player, Elanco, announced the agreement to acquire another company named, Kindred Biosciences, with the objective to expand their presence in the veterinary dermatology market.

Report Attribute: -

Report Metric

Information

Study Period

2018-2029

Base Year

2021

Projection Period

2022-2029

Market Share Unit

USD Billion

Segments Covered

Type, Animal Type, Route of Administration, Indication and Distribution Channel

Regions Covered

North America, Europe, Asia-Pacific, South America and Middle-East and Africa

Major Players

Elanco, Indian Immunologicals Ltd., Vetoquinol S.A, Bioiberica S.A.U, Ceva, Virbac, Merck & Co., Inc., Zoetis, Virbac, Vivaldis, Bimeda Inc., IDEXX Laboratories, SAVAVET, AB Science, Toray Industries, Bayer Animal Health and others

Scope of the Report:- 

Global Veterinary Dermatology Drugs Market by Type

  • Antibacterial Drugs
  • Antiparasitic Drugs
  • Antifungal Drugs
  • Others

Global Veterinary Dermatology Drugs Market by Animal Type

  • Companion Animals
  • Livestock Animals

Global Veterinary Dermatology Drugs Market by Route of Administration

  • Oral
  • Injectable
  • Topical

Global Veterinary Dermatology Drugs Market by Indication

  • Skin Cancer
  • Infectious Diseases
  • Parasitic Infections
  • Autoimmune Skin Diseases
  • Others

Global Veterinary Dermatology Drugs Market by Distribution Channel

  • Hospital Pharmacies
  • Online Pharmacies
  • Retail Pharmacies

Global Veterinary Dermatology Drugs Market by Region

  • North America
    • USA
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
  • Asia-Pacific
    • Japan
    • China
    • India
    • Korea
    • Southeast Asia
  • South America
    • Brazil
    • Peru
  • Middle East and Africa
    • UAE
    • South Africa
    • Saudi Arabia

Frequently Asked Questions

What is the market size of the veterinary dermatology drugs market?

Global veterinary dermatology drugs market is expected to reach USD 15.71 billion by 2029, at a CAGR of 9.44% from 2022 to 2029.

What is the segmentation considered for the analysis of the global veterinary dermatology drugs market?

The global veterinary dermatology drugs market has been segmented based on type, animal type, route of administration, indication, distribution channel, and regions.

Which regions have been studied for the regional analysis of veterinary dermatology drugs market?

The regions analyzed for the veterinary dermatology drugs market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa.

Which are the leading market players active in the veterinary dermatology drugs market?

Leading market players active in the global veterinary dermatology drugs market are Elanco, Indian Immunologicals Ltd., Vetoquinol S.A, Bioiberica S.A.U, Ceva, Virbac, Merck & Co., Inc., Zoetis, Virbac, Vivaldis, Bimeda Inc., IDEXX Laboratories, SAVAVET, AB Science, Toray Industries, Bayer Animal Health among others.

What are the key driver of the veterinary dermatology drugs market?

Rising incidence of chronic skin diseases among animals and the increasing number of pet owners is primarily driving the growth of the veterinary dermatology drugs market.

What are the ongoing trends that are projected to influence the market in the upcoming years?

Manufacturers in the veterinary dermatology drugs market use advanced production technologies to incorporate better results and performance of the whole process. In addition, the rising number of investments will contribute to the demand for veterinary dermatology drugs.

What are the detailed impacts of the COVID-19 pandemic on the global market?

The pandemic has significantly affected several industries and has caused a worldwide economic slowdown. Many regions imposed various lockdowns during the fiscal year 2020. These lockdowns led to the closure of the regional industries and all types of manufacturing facilities, which has led to a shortage of supply in the market. Additionally, all the end-users industries were temporarily closed during this period, which has decreased the sales of veterinary dermatology drugs.

How the company profile has been selected?

Based on the sales revenue, product offering, and regional presence, the companies are selected.