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. Veterinary dermatologists are well qualified in diagnosing and providing solutions for different infectious skin diseases like fungal, bacterial, and viral in animals.
New York, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "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" - https://www.reportlinker.com/p06188498/?utm_source=GNW 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 would 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 would propel the growth of the market. In addition, a rise in cases of dermatology diseases like fleas and ticks and allergic dermatitis would 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 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 would 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 would 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 would 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. Route of Administration Outlook Based on Route of Administration, the market is segmented into Topical, Injectable and Oral. The injectable segment would showcase the fastest growth rate during the forecasting period. This is attributed to the fact that injectable drugs enable convenient administration in a lesser number of doses in comparison with oral drugs. For example, Convenia by Zoetis treats the animal in only one dose in comparison to 28 doses of pills. The topical segment would showcase a prominent growth rate during the forecast period. This is attributed to its high adoption rate. Distribution Channel Outlook Based on Distribution Channel, the market is segmented into Retail, Hospital Pharmacies and Online. In 2020, the hospital pharmacies segment procured the maximum revenue share of the overall market. Moreover, the growth of the segment would be driven by the surge in the number of hospital pharmacies. In addition, animal owners are likely to visit veterinary hospitals first for the treatment of their pets or farm animals. Drug Indication Outlook Based on Drug Indication, the market is segmented into Parasitic Infections, Allergic Infections and Other Indications. The allergic infections segment would display the fastest growth rate during the forecasting period. The growth catalysts for the segment are the increasing prevalence of diseases like atopic dermatitis and other itching diseases, particularly in companion animals. Moreover, pet owners are increasing their pet care decisions and spending, which would boost the growth of the veterinary dermatology drugs market during the forecasting period. Animal Type Outlook Based on Animal Type, the market is segmented into Companion Animal and Livestock Animal. The companion animal segment procured the maximum revenue share of the overall market in 2020. The growth of the segment is attributed to the increase in the number of pet ownership. The segment is further classified into cats, dogs, horses, and others. The dogs’ segment is likely to obtain the maximum revenue share of the market. This is owing to the high availability of the products related to dogs’ treatment. Regional Outlook Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, the North American region emerged as the leading region by obtaining the maximum revenue share in veterinary dermatology drugs. Some of the main growth catalysts of the region are supportive initiatives from the government as well as the private sector, a surge in pet care spending, and the existence of main market players. Moreover, the growth of the regional market is also driven by the increase in cases of zoonotic diseases. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Merck Group, Elanco Animal Health, Inc., Zoetis, Inc., Eli Lilly and Company, Boehringer Ingelheim International GmbH, Vetoquinol SA (Soparfin SCA), Virbac, Bioibérica, S.A.U., Bimeda, Inc., and Ceva Santé Animale. Strategies Deployed in Veterinary Dermatology Drugs Market Partnerships, Collaborations, and Agreements: Jun-2020: Bioiberica signed a distribution agreement with Bayer Animal Health, a subsidiary of Bayer. Under this agreement, Bayer Animal Health would distribute and market some specific products from Bioiberica’s portfolio in Germany, France, Austria, Belgium, the Netherlands, and Korea. Moreover, the agreement would further strengthen the global expansion plan of Bioiberica. Dec-2019: Vetoquinol signed a global licensing agreement with Klox Technologies, a private regenerative medicine company. Under this agreement, Vetoquinol would develop and commercialize Klox’s fluorescent light energy (FLE) products in animal health. Jun-2017: Virbac entered into a collaboration with Bio-Gene, an Australian agtech company enabling the next generation of novel insecticides. Following the collaboration, the two companies would assess FLAVOCIDE as a new agent for insect control in ruminant animals. The collaboration aimed to offer a substantial opportunity for large-scale development and future marketing of FLAVOCIDE globally by evaluating the proven expertise and networks of Virbac. Acquisitions and Mergers: Aug-2021: Elanco Animal Health took over Kindred Biosciences, a veterinary biopharmaceutical company. The acquisition aimed to strengthen the position of Elanco in the booming pet health market, especially advancing Elanco’s presence in the fast-growing billion-dollar dermatology category. Aug-2020: Vetoquinol took over Profender and Drontal, subsidiaries of Elanco. The acquisition aimed to strengthen Vetoquinol’s presence by substantially increasing the size of its business and visibility in the parasiticide segment, one of its strategic therapeutic areas. Feb-2020: Eli Lilly and Company acquired Dermira, a biopharmaceutical company. The acquisition aimed to expand Lilly’s portfolio of marketed dermatology medicines along with QBREXZA (glycopyrronium), a medicated cloth approved by the FDA for the topical treatment of primary axillary hyperhidrosis. Dec-2019: Bimeda took over Texas Vet Lab, a company that specializes in bovine vaccine research and production. The acquisition aimed to help Bimeda to enter into the domain of preventive medicine. Through this acquisition, Bimeda would provide its customers a wide range of portfolio of preventative as well as curative treatment options, including vaccines, antimicrobials, anti-parasitics, hormones, and anti-inflammatories. Dec-2019: Bimeda took over Grupo Unipharm’s veterinary medicine portfolio that comprises 25 licensed veterinary products and above 150 licenses. The acquisition aimed to support Bimeda’s presence in Central America, which is a high growth conducive region. Product Launches and Product Expansions: May-2021: Elanco Animal Health rolled out Credelio Cat, the first oral flea and tick product for cats. The product is approved by the U.S. Food and Drug Administration. The latest product would be the newest addition to the rising pet health portfolio of Elanco that includes solutions in the areas of parasiticides, pain management, vaccines, internal medicine, oncology, and dermatology. Jan-2021: Ceva Animal Health introduced Douxo S3 Pyo skincare pads for cats and dogs. These pads would improve this range by providing an easy-to-administer antiseptic action while hydrating and maintaining the skin’s ecosystem. Sep-2020: Bioiberica rolled out Atopivet Mousse and Atopivet oral suspension, two latest products in its dermatological range Atopivet. Through this launch, the company aimed to reach the various levels of the epidermis and dermis of dogs and cats with atopic dermatitis. Aug-2020: Virbac rolled out STELFONTA, an innovative injectable solution to treat mastocytoma in dogs. Through this launch, the company aimed to enhance the clinical outcome and quality of life for pets fighting this disease. Jan-2020: Ceva Animal Health unveiled Douxo S3, a new range of skincare products for cats and dogs. The new product range includes four products viz. alm, Seb, Pyo, and Care. Moreover, the product range is developed to calm itchy, irritated skin while maintaining the skin barrier. Jul-2019: Bioiberica unveiled Klorexivet, a unique spray formula with chlorhexidine digluconate, ethanol, menthol, and thymol that prevents microbial overgrowth and supports the optimal state of the skin of pets. Klorexivet is suitable for dogs and cats with superficial injuries due to dermatitis, skin infections, or wounds. Through this launch, the company would expand its Animal Health’s product range, providing owners and veterinary experts scientifically proven and unique solutions with high added value in the field of dermatology. Apr-2019: Bimeda introduced BIMECTIN PLUS Injection for Cattle. BIMECTIN PLUS is an injectable parasiticide that is suitable for the treatment and control of internal and external parasites of cattle, including gastrointestinal roundworms, sucking lice, lungworms, mange mites, cattle grubs, and adult liver flukes. Approvals and Trials: Dec-2020: The license has been extended for Zoetis’ canine dermatitis product, CYTOPOINT, to add the treatment of pruritus related to allergic dermatitis along with the original claim of clinical manifestations of atopic dermatitis1. This license extension would further display the innovations from Zoetis in the domain of veterinary dermatology, and across a wide range of care, increasing the treatment options available to manage pruritus. Jul-2020: Merck Animal Health got approval by the U.S. Food and Drug Administration for BRAVECTO 1-MONTH (fluralaner) Chews for dogs and puppies 8 weeks of age and older. The product is given as a single, monthly flavoured chew formulation for treatment and prevention of fleas and treatment and control of ticks. Sep-2018: Zoetis received an expanded indication from the U.S. Department of Agriculture (USDA) for Cytopoint, a novel monoclonal antibody (mAb) therapy for the treatment of allergic dermatitis in dogs. Following the approval, the company aimed to provide veterinarians much-required flexibility for customized treatment of allergic and atopic dermatitis in dogs with two therapeutic approaches viz. the injectable Cytopoint and the oral tablet Apoquel. Scope of the Study Market Segments covered in the Report: By Route of Administration • Topical • Injectable • Oral By Distribution Channel • Retail • Hospital Pharmacies • Online By Drug Indication • Parasitic Infections • Allergic Infections • Other Indications By Animal Type • Companion Animal • Livestock Animal By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • Merck Group • Elanco Animal Health, Inc. • Zoetis, Inc. • Eli Lilly and Company • Boehringer Ingelheim International GmbH • Vetoquinol SA (Soparfin SCA) • Virbac • Bioibérica, S.A.U. • Bimeda, Inc. • Ceva Santé Animale Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06188498/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. 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