DUBLIN--(BUSINESS WIRE)--The "Global Veterinary Dermatology Drugs Market By Route of Administration, By Distribution Channel, By Drug Indication, By Animal Type, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global veterinary dermatology drugs market size is expected to reach $13.6 billion by 2027, rising at a market growth of 8.2% CAGR during the forecast period.
Key Market Players:
- Merck Group
- Elanco Animal Health, Inc.
- Zoetis, Inc.
- Eli Lilly and Company
- Boehringer Ingelheim International GmbH
- Vetoquinol SA (Soparfin SCA)
- Virbac
- Bioiberica, S.A.U.
- Bimeda, Inc.
- Ceva Sante Animale
Veterinary dermatologists are well qualified in diagnosing and providing solutions for different infectious skin diseases like fungal, bacterial, and viral in animals. The majority of animals globally are affected by major diseases such as parasitic skin diseases, alopecia, dander-related skin disorders, intrinsic skin infections, mild and harmful skin cancer, autoimmune skin diseases hormonal-related skin diseases, and other internal causes for skin abnormalities.
Moreover, constant development in medical equipment and surge in research sources for veterinary dermatologists to diagnose and treat these major diseases is crucial for pets, pet owners, and other animals. Therefore, the growth of the veterinary dermatology drugs market is expected to witness bright growth prospects due to the increasing number of veterinary visits.
The growth catalysts for the market are the increasing occurrences of skin diseases and massive investments by market players. In addition, the pet owners are now taking more pet-care decisions, which is expected to propel the growth of the market. In addition, a rise in cases of dermatology diseases like fleas and ticks and allergic dermatitis is expected to open new growth prospects for the overall veterinary dermatology drugs market during the forecasting period. Further, the market growth is further driven by the increasing number of clinical trials associated with veterinary dermatology drugs.
COVID-19 Impact Analysis
The overall veterinary dermatology drugs witnessed an adverse impact of the outbreak of the COVID-19 pandemic. This is because a majority of people considered pet drugs as non-essential items especially during financial disruptions brought by the global pandemic. The formulations of numerous stringent lockdown and stay-at-home orders and the temporary shutdown of the manufacturing unit have impacted almost every industry vertical and the veterinary dermatology drugs market is not an exception to this. Moreover, the manufacturing of these products was halted due to the closure of manufacturing units and other restrictions during the peak of the pandemic.
Market Growth Factors:
The rise in demand for antifungals for animals
Mycotic diseases in animals have achieved less amount of attention in comparison to some common diseases in animals as well as humans. This is not normal, as dermatophytes are acting as agents of infectious diseases in animals which is one of the earliest identified disorders in animals. In addition, the dermatophytes cause many zoonotic infections and is expected to be responsible for a considerable portion of human skin diseases through animals.
Increase in pet adoption and increasing care for animals
The increase in awareness regarding veterinary care has boosted the growth & demand for veterinary dermatology drugs in the market. In addition, the growth of the veterinary dermatology drugs market is expected to further be driven by the rise in urbanization and the growing number of pet animals. The increase in the prevalence of atopic dermatitis among animals is substantially demanding innovative veterinary drugs.
Market Restraining Factor:
Low availability and low awareness of these drugs
These drugs are not widely available in many underdeveloped and developing countries which could slow down the growth and demand for veterinary dermatology drugs in the market. Also, pet owners in many countries still prefer to treat their pets without any drugs because they getting aware of the harmful effects of such drugs. Moreover, less awareness about the existence of such drugs in many poorly developed countries is expected to pose a challenge for the growth of the veterinary dermatology drugs market. To curb the spread of the virus, many countries around the globe imposed stringent lockdown restrictions. These restrictions include a ban on the supply of non-essential items like pet drugs.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Veterinary Dermatology Drugs Market by Route of Administration
Chapter 4. Global Veterinary Dermatology Drugs Market by Distribution Channel
Chapter 5. Global Veterinary Dermatology Drugs Market by Drug Indication
Chapter 6. Global Veterinary Dermatology Drugs Market by Animal Type
Chapter 7. Global Veterinary Dermatology Drugs Market by Region
Chapter 8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/alrfxw
