Pune India, May 03, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the veterinary dermatology drugs market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the veterinary dermatology drugs market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the type, animal type, route of administration, indication, distribution channel and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
Global 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 forecast till 2029.
Veterinary dermatology drugs are used for both livestock and convenience animals for the treatment of skin related disorders. The veterinary dermatology drugs can be broadly classified into three categories namely: antibacterial, antifungal and antiparasitic. These drugs can be used for numerous skin disorder such as skin cancer, infectious diseases, parasitic infections, etc. There are many animals across the world who suffers from these skin diseases. Skin diseases are common in the small and large animals and thus the use of drugs should be done in order to reduce the infection. The most common type of dermatology disorder includes otitis externa, allergies, surface pyoderma, etc. These drugs are developed from standard procedures and are intended to treat this disorder in a shorter span of time.
The rising prevalence of skin related disorder is the main reason for the growing demand for veterinary dermatology drugs market. The number of animals suffering from skin cancer and chronic skin diseases are increasing from the past decade. There are many chronic diseases such as surface pyoderma, otitis externa, allergies, seborrheic dermatitis, etc. which results in pain and itching. Apart from this skin inflammation and fungal infection are increasing at a faster pace and these diseases also results in mortality of animals if untreated.
Further, the growing number of investments in launching of new products has propelled many manufacturers to integrate various technologies in the veterinary dermatology drugs diagnostics market. The number of research and development platforms in increasing rapidly in the many regions including North America, Europe and Asia-Pacific. Veterinary dermatology drugs diagnostics require high precision and throughput during the process in order to be feasible for treating the skin disorders. The manufacturers are now providing various veterinary dermatology drugs for dogs, equine, cats, poultry animals, etc. However, the potential side effects used for treating the skin disorder is expected to hinder the growth of veterinary dermatology drugs diagnostics market. Further, the imposition of stringent regulations for the approval of the drugs used in the market, is a huge challenge for the market.
The significant players operating 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 and others. To achieve a substantial market share in the worldwide veterinary dermatology drugs market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Elanco and Ceva are one of the most significant manufacturers and distributors present in the global veterinary dermatology drugs market.
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Segmentation Analysis
The antibacterial drugs segment led the veterinary dermatology drugs market with a market share of around 46.62% in 2021.
The type segment includes antibacterial drugs, antiparasitic drugs, antifungal drugs and others. Among these, antibacterial drugs are the dominant type used in the veterinary dermatology drugs market. The antibacterial drugs are mostly purchased for dogs, cats, equine and poultry animals. Antibacterial drugs are effective on a number of skin conditions and are found to be easily available over the counter. There are number of manufacturers producing antibacterial drugs for companion and livestock animals.
The companion animals segment led the veterinary dermatology drugs market with a market share of around 65.99% in 2021.
The animal type segment companion animals and livestock animals. Out of these, companion animals are the dominant segment in the veterinary dermatology drugs market. The rising adoption of companion animals among the millennial population will drive the market growth. The rise in travel of such companion animals leads to introduction of parasitic habitats. These are responsible for the prevalence of skin disorders among such animals.
The injectable segment is expected to register highest growth rate during the forecast period.
The route of administration segment includes oral, injectable and topical. The injectable segment is expected to register highest growth rate during the forecast period. Injectable veterinary dermatology drugs allow easy administration on the animals. Injectable drugs have smaller doses when compared to oral drugs. It also works in a small amount of time and is considered to be more effective.
The infectious diseases segment is expected to register highest growth rate during the forecast period.
The indication segment consists of skin cancer, infectious diseases, parasitic infections, autoimmune skin diseases and others. The infectious diseases segment is expected to register highest growth rate during the forecast period. Infectious diseases are rising among pets. The increasing mobility of companion animals has led to high risk of infection outside the endemic areas.
The online pharmacies segment is expected to register highest growth rate during the forecast period.
The distribution channel segment consists of hospital pharmacies, online pharmacies and retail pharmacies. The online pharmacies segment is expected to register highest growth rate during the forecast period. The pet owners and farm owners prefer to use the online pharmacies for delivery of such drugs. It is convenient for them as most of the drugs are easily available.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the veterinary dermatology drugs include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
North America region dominated the veterinary dermatology drugs market and held the 36.27% share of the market revenue in 2021. The growth of the market in the region can be attributed to various factors, such as presence of many global and regional manufacturers, availability of the required technology and abundance of raw materials. The higher pace of healthcare spending has brought tremendous growth in the regional veterinary dermatology drugs market. However, Asia-Pacific is projected to register higher growth rate during the forecast period of 2022-2029. The rising ownership of companion animals along with technological developments in drug development process is the significant factor behind the growing market.
Covid-19 Impact
Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. The demand for veterinary dermatology drugs has decreased during the period owing to the regulations on social distancing and increasing focus on safety and hygiene. In most of the regions, the manufacturing facilities of veterinary dermatology drugs were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for veterinary dermatology drugs significantly decreased.
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