Global veterinary dermatology market is expected to reach USD 3,525.7 million by 2026 from USD 2,353.9 million in 2018 at a CAGR of 5.5% during the forecast period 2019–2026.
Atopic dermatitis is chronic skin disease associated with allergies which is caused by harmless substances like grass, mold spores, house dust mites, and other environmental allergens. Surge in prevalence of chronic skin disorders such as chewing, biting, rubbing is driving the growth of market. Furthermore, high presence of cattle and buffalo suffering from of lumpy skin disease (LSD) in European countries is major reason for boosting the growth of market. For instance, since 2012, LSD has been spread from Africa and the Middle East into south-eastern Europe, affecting European Union (EU) Member countries. Numerous autoimmune and immune-mediated cutaneous diseases such as atopic in cat and dog across the globe is in companion animals is fuelling the growth of market. Surge in number of incidence of anthrax in cattle, deer, cattle, goats, and sheep is supporting the growth of market.
The veterinary dermatology drugs market is segmented into drug, animal type and end users.
On the basis of drug the veterinary dermatology drugs market is segmented into non-steroidal anti-inflammatory drugs (NSAIDS), antibiotics, and veterinary antifungal drug. Antibiotics veterinary medicine segment is expected to hold major market share owing to most of skin diseases caused by various bacteria.
Based on the animal type the market is segmented into large animals and small animals. High prevalence of dermatological disorders in small animals such as dog and cat as compared other animal, thus, small animals segment is dominated market and expected to grow in forecast period.
On the basis of end users the market is segmented into veterinary hospitals, veterinary clinics. Veterinary clinics is expected to hold major market share owing to control infectious animal diseases and thus reduce morbidity and mortality rate of animals. Veterinary clinics is cost effective then veterinary hospital thus, large number of patient visit the clinic.
Geographically, veterinary dermatology drugs market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
North America is dominating the market & is expected to continue its dominance over the forecast period. This is attributed to increasing adoption of companion animal in developed countries such as U.S., Canada and increasing spending on pet care in this region is boosting the growth of market. For instance, as per American Pet Products Association (APPA) data states that 68.0% of US households, or approximately 86.4 million homes, have at least one pet. However, high prevalence of pruritus, sores, alopecia, masses, eruptions, scales, seborrhea, pustules, and draining tracts in companion animals is fuelling the market growth. Furthermore, increasing technology in veterinary medicine that has lengthen lifespan of veterinary animals is another region which positively influence the market.
Europe is expected to witness second leading region for veterinary dermatology drugs market. Different dermatological association in Europe region which is increasing the awareness about the skin disease is boosting the growth of market. For instance, European Society of Veterinary Dermatology, is a non-profit organization that supports the development of veterinary dermatology throughout Europe and provides funding for both research and educational programs such as workshops. Presence of leading animal care player such as International GmbH.(France), Vetoquinol S.A.(France), and Virbac(France). is positively impact on market.
Some of the key players in global veterinary dermatology drugs market include
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o North America
o South America
o Eastern Europe