Dublin, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The "Veterinary Dermatology Drugs Market Size, Share & Trends Analysis Report By Indication, By Type, By Animal Type, By Route Of Administration, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global veterinary dermatology drugs market is expected to reach USD 28.69 billion by 2030, registering a CAGR of 8.89% from 2023 to 2030
The market is driven by increasing pet expenditure, humanization of pets, robust R&D pipeline, launch of new products, the prevalence of dermatologic conditions, and initiatives by key companies.
For example, in June 2023, Zoetis received FDA clearance for Apoquel Chewable - the country's first and only chewable pharmaceutical for controlling allergic itch and inflammation in dogs. This expanded the company's portfolio and supported its growth objectives. 
The COVID-19 pandemic and macroeconomic headwinds from 2020 to 2022 had both positive and negative impacts on the market. This included operational challenges, supply chain disruption, limited access to veterinary care, spike in pet adoption, adoption of telemedicine, and increased penetration of pet insurance.
Vimian for instance, reported dampened growth during Q1 2022 in its dermatology & specialty care segments due to volatility in shipments between quarters. By Q3 2022, the company reported robust growth in Dermatology & Specialty Care segments. Zoetis on the other hand witnessed volume growth of 14%, 3%, and 9% from in-line portfolio, including its dermatology products during Q2, Q3, and Q4 2021 respectively. In 2022, however, Zoetis reported 1-2% volume growth in its dermatology portfolio every quarter.
Ongoing research and development efforts in the field of veterinary dermatology have led to the creation of more effective and user-friendly drug formulations. These formulations are often easier to administer and can provide quicker relief for pets, ensuring medication compliance.
Growing initiatives by key market players is expected to propel the R&D pipeline and promote the launch of new products in the market. In May 2023, Dechra Pharmaceuticals PLC for example, partnered with ILC Therapeutics in Scotland to research and develop the latter's Caniferon product for the treatment of atopic dermatitis in dogs. This added to the company's product pipeline.
Veterinary Dermatology Drugs Market Report Highlights
- By indication, the parasitic infections segment dominated the market and held the largest revenue share of more than 40.0% in 2022 owing to increasing strategic initiatives by key companies
- For instance, Virbac expanded its medicinal product line by purchasing the rights to a number of early-stage parasiticides from Elanco in March 2021
- The allergic infections segment is anticipated to witness the fastest CAGR of over 9.2% during the forecast period
- The prescription segment dominated the market in 2022, whereas, the OTC segment is anticipated to grow at the fastest CAGR of about 9.1% from 2023 to 2030
- The companion animals dominated the market in 2022, due to the rise in pet ownership, public awareness, and demand for high-quality animal care
- The topical segment dominated the market in 2022 is expected to witness lucrative CAGR during the forecast period
- By distribution channel, hospital pharmacies dominated the market with a revenue share of 62.0% in 2022
- North America held the highest revenue share of over 38.0% of the market in 2022
Company Profiles
- Elanco
- Ceva
- Vetoquinol
- Merck & Co., Inc.
- Zoetis
- Virbac
- Bimeda, Inc
- Vivaldis
- Bioiberica S.A.U.
- Boehringer Ingelheim International GmbH
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $14.89 Billion |
| Forecasted Market Value (USD) by 2030 | $28.69 Billion |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Veterinary Dermatology Drugs Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Increasing Pet Ownership
3.2.1.2. Growing Number Of Clinical Trials Related To Veterinary Dermatology Drugs
3.2.1.3. Rising Incidence Rate Of Parasitic As Well As Other Skin Diseases In Animals
3.2.1.4. Investments By Market Players
3.2.2. Market Restraint Analysis
3.2.2.1. Lack Of Awareness In Developing Regions
3.2.3. Market Opportunity Analysis
3.2.4. Market Challenge Analysis
3.3. Veterinary Dermatology Drugs Market Analysis Tools
3.3.1. Industry Analysis - Porter's
3.3.2. PESTEL Analysis
3.3.3. Pricing Analysis
3.3.4. Clinical Trial Analysis
3.3.5. Estimated Animal Population, by key countries, 2018 to 2022
3.3.6. COVID-19 Impact Analysis
Chapter 4. Veterinary Dermatology Drugs Market: Indication Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Veterinary Dermatology Drugs Market: Indication Movement Analysis & Market Share, 2022 & 2030
4.3. Parasitic Infections
4.4. Allergic Infections
4.5. Others
Chapter 5. Veterinary Dermatology Drugs Market: Type Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Veterinary Dermatology Drugs Market: Type Movement Analysis & Market Share, 2022 & 2030
5.3. Prescription
5.4. OTC
Chapter 6. Veterinary Dermatology Drugs Market: Animal type Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Veterinary Dermatology Drugs Market: Animal type Movement Analysis & Market Share, 2022 & 2030
6.3. Companion Animals
6.3.1. Companion Animals Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.2. Dogs Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.3. Cats Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.4. Horses Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.5. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Livestock Animals
6.4.1. Livestock Animals Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4.2. Cattle Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4.3. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Veterinary Dermatology Drugs Market: Route of Administration Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Veterinary Dermatology Drugs Market: Route of Administration Movement Analysis & Market Share, 2022 & 2030
7.3. Topical
7.4. Oral
7.5. Injectable
Chapter 8. Veterinary Dermatology Drugs Market: Distribution Channel Estimates & Trend Analysis
8.1. Segment Dashboard
8.2. Veterinary Dermatology Drugs Market: Distribution Channel Movement Analysis & Market Share, 2022 & 2030
8.3. Hospital Pharmacies)
8.4. Retail
8.5. E-Commerce
Chapter 9. Veterinary Dermatology Drugs Market: Regional Estimates & Trend Analysis
9.1. Regional Outlook
9.2. Veterinary Dermatology Drugs Market: Regional Movement Analysis & Market Share, 2022 & 2030
Chapter 10. Competitive Landscape
10.1. Key Company Profiles
10.1.1. Participant's Overview
10.1.2. Indication Benchmarking
10.1.3. Financial Performance
10.1.4. Strategic Initiatives
10.2. Participant Categorization
10.3. Heat Map Analysis/ Company Market Position Analysis
10.4. Strategy Mapping
10.5. List of Other Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/pge5w7
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