LAMEA Isoxazoline Drugs Market Size & Outlook, 2024-2032

Market Overview

LAMEA: 2,113 million USD (2030 value); CAGR: 16.9%

Isoxazoline is a relatively new chemical family of five-membered heterocyclic chemical compounds with one oxygen and one nitrogen atom next to each other. Isoxazoline compounds such as fluralaner, afoxolaner, sarolaner, and lotilaner are active components in tick repellents.

Ticks are non-flying insects that are parasites on dogs, cats, and other animals. The host must come into direct touch with a tick in order to become a parasite. Ticks are dangerous to pets because they transmit illnesses such as Lyme disease, Rocky Mountain spotted fever, ehrlichiosis, tularaemia, and STARI (Southern tick-associated rash illness). In order for illnesses to be transferred, a tick must remain attached to a host for several hours. To prevent pets against tick bites, a variety of repellents, insecticides, and growth inhibitors are commercially available.

The isoxazoline class of medicines are oral insecticides that have been approved for the treatment of ectoparasites in companion animals such as dogs and cats. These medications were initially introduced in 2013 as veterinary treatments for ticks and fleas in dogs. Several studies, however, have demonstrated their effectiveness against various veterinary and agricultural parasites. Bravecto, Credlio, Nexgard, and Simparica are examples of FDA-approved isoxazoline medications.

Innovations on current medications for new indications in oral and topical formulations, as well as increased awareness of ectoparasite prevention and control of fleas and ticks, are expected to drive market expansion. The market is divided into three sections: product type, pet kind, and geography.

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Market Dynamics

Lamea Isoxazoline Drugs Market Drivers

The incidence of fleas and ticks is directly linked to the growth of the Isoxazoline Drugs industry.

Different types of chronic skin disorders are common in animals. Cryotherapy or medical treatment can be used to treat a few skin tumours. Allergens, external irritants, burns, and trauma (viral, bacterial, fungal, and other parasitic) are all potential causes of skin disorders. During the projected years, the veterinary dermatology pharmaceuticals market is predicted to rise due to an increase in the number of chronic skin disorders and a surge in mergers and acquisitions to deliver novel products. Furthermore, owing to increased awareness among pet owners and an increase in the frequency of health exams, the total industry is likely to see new development avenues.

As a result of the COVID-19 (coronavirus) outbreak, pet owners are hoarding consumables and medicines for their cats and dogs. In order to weather demand changes, companies in the isoxazoline business in the United States have strengthened their supply networks. According to the most current veterinary news, the FDA (Food and Drug Administration) has approved a novel combination Isoxazoline parasite preventive for dogs in the United States. This has opened up new opportunities for companies in the US isoxazoline sector.

Lamea Isoxazoline Drugs Market Restraints

The number of rules and regulations governing the use of isoxazoline-based drugs in companion animals like dogs and cats is increasing. The FDA created a Center for Veterinary Medicine (CVM) to approve drugs for use in animals, including isoxazoline-based pharmaceuticals. Isoxazoline-based products used in animals are regulated by the Environmental Protection Agency (EPA) and the Food and Drug Administration (FDA). In general, before an animal drug (including isoxazoline) may be sold commercially in the United States, it must be approved by the FDA. The animal product must be registered with the EPA before it may be sold. In the United States, the Environmental Protection Agency (EPA) has set guidelines and regulations to oversee the marketing of spot-on Isoxazoline-based tick repellents. As a result, tighter government limitations on Isoxazoline-based tick repellents are expected to be a major stumbling block for manufacturers of these products.

Regional Analysis

Due to the strong adoption of pets among Brazilian families, Brazil is one of the top nations in the regional veterinary dermatological medications market. Furthermore, an older population that lives alone and has less connection with family, as well as financial security, are catalysts for pet adoption and an increase in interest in administering suitable pet medications, hence helping the regional veterinary dermatological pharmaceuticals market.

The rising number of solitary professionals, social comfort, security, company, and attractive sense are the major reasons for keeping a pet. The rising number of nuclear families is predicted to increase demand for pets, which would boost the regional market for veterinary dermatological medications. As a result, these factors are likely to drive the regional veterinary dermatology medications market demand and growth in the future years.

The Brazil market topped the LAMEA Livestock Animal Market by Country in 2020, and it is anticipated to continue to do so through 2027, with a market value of $226.3 million. During the forecast period, the Argentina market is predicted to grow at an annual rate of 8.6%. (2021 - 2027). Furthermore, the UAE market is predicted to grow at a rate of 10.2 percent during the next five years (2021 - 2027).

Segmental Analysis

Based on product type, the worldwide isoxazoline drugs market is divided into fluralaner, sarolaner, lotilaner, and afoxolaner. In 2021, afoxolaner medicines sold more than any other drug on the market, and they had the biggest market share.

The market is divided into two categories: dogs and cats. During the years 2020–2021, the number of dogs and cats adopted skyrocketed. According to a poll performed by the Humane Society of the United States, over half of all American households own at least one dog. The dogs' category took the bulk of the market share in 2021 and is predicted to increase at a CAGR of 18.11 percent during the forecast period.

Impact of Covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

List of key players in LAMEA Isoxazoline Drugs Market

1. Merck & Co.
2. Elanco Animal Health
3. Zoetis Inc
4. Boehringer Ingelheim International GmbH
5. Ceva Santé Animale
6. Bioibérica, S.A.U.
7. Virbac
8. Vetoquinol SA (Soparfin SCA)

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