Veterinary Dermatology Drugs Market Share, Growth and Future Analysis

[sara James]

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, according to a new report by Grand View Research, Inc. 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.

List of Key Players of Veterinary Dermatology Drugs Market

• Elanco
• Ceva
• Vetoquinol
• Merck & Co., Inc.
• Zoetis
• Virbac
• Bimeda, Inc
• Vivaldis
• Bioiberica S.A.U.
• Boehringer Ingelheim International GmbH

Related Press Release@  Veterinary Dermatology Drugs Market Report

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

Veterinary Dermatology Drugs Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 15.80 billion
Revenue forecast in 2030	USD 28.69 billion
Growth rate	CAGR of 8.89% from 2023 to 2030
Base year for estimation	2022

 

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 Veterinary Dermatology Drugs Market Segmentation

Grand View Research has segmented the global veterinary dermatology drugs market based on indication, type, animal type, route of administration, distribution channel, and region:

Veterinary Dermatology Drugs Indication Outlook (Revenue, USD Million, 2018 - 2030)

• Parasitic Infections
• Allergic Infections
• Others

Veterinary Dermatology Drugs Type Outlook (Revenue, USD Million, 2018 - 2030)

• Prescription
• OTC

Veterinary Dermatology Drugs Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

• Companion Animals
• • Dogs
  • Cats
  • Horses
  • Others
• Livestock Animals
• • Cattle
  • Others

Veterinary Dermatology Drugs Route Of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Topical
• Oral
• Injectable

Veterinary Dermatology Drugs Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital Pharmacies
• Retail
• E-commerce

Veterinary Dermatology Drugs Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• • U.S.
  • Canada
• Europe
• • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
  • Rest of Europe
• Asia Pacific
• • Japan
  • China
  • India
  • South Korea
  • Australia
  • Thailand
  • Rest of Asia Pacific
• Latin America
• • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
• • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait
  • Rest of MEA