Veterinary Dermatology Drugs Market Size, Share & Trends Analysis Report By Drug (Non-steroidal anti-inflammatory drugs (NSAIDS), Antibiotics, Veterinary antifungal drug), By Animal Type (Large animals, Small animals), By End Users (Veterinary Hospitals, Veterinary Clinics) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Veterinary Dermatology Drugs Market Size and Trends

The global veterinary dermatology drugs market size was valued at USD 8.32 billion in 2022. It is projected to reach USD 18.83 billion by 2031, growing at a CAGR of 9.5% during the forecast period (2023–2031).

Animals with chronic diseases, dysfunction, and damage are managed, found, and treated in veterinary dermatology. Veterinarian dermatologists are exceptionally skilled at identifying and treating bacterial, fungal, and viral infectious skin diseases in animals. Many animals worldwide experience severe illnesses, such as skin conditions caused by parasites, dander-related skin disorders, alopecia, intrinsic skin infections, autoimmune skin diseases, mild and dangerous skin cancer, hormonal-related skin conditions, and other internal causes of skin abnormalities. Pets, pet owners, and other animals are benefiting from improvements in medical technology and expanding research resources for veterinary dermatologists to diagnose and treat such severe diseases. As a result, the forecasted growth of the global veterinary dermatology drugs market will be influenced by the increase in veterinary visits. The field of veterinary dermatology covers a wide range of disorders that may affect different species and all domesticated and wild animal species. The primary factors that propel market growth include the rising prevalence of skin diseases in animals and significant investments made by top market players. The market is forecasted to grow due to a trend in which pet owners make more decisions about their pets' care.

Veterinary Dermatology Drugs Market Growth Factors

Increasing Pet Adoption and Animal Care

Due to the increased public awareness of veterinary care, the market for drugs used in veterinary dermatology has experienced significant growth. It is anticipated that increasing urbanization and the number of pets will impact the market for veterinary dermatology drugs. Atopic dermatitis in animals is becoming more common, which has raised the need for better veterinary medications. The world is becoming more aware of veterinary skin conditions, available treatments, and various government programs to boost farm animal productivity, especially for pet guardians and owners. In addition, the forecasted period will see an increase in the population of companion animals and consumer willingness to pay for their healthcare. The market for veterinary dermatology medications is anticipated to grow at a moderate CAGR. The use of veterinary dermatology drugs has increased due to an increase in pet animal longevity brought on by advancements in diagnostics, increased emphasis on wellness and prevention by veterinarians, and improved nutrition.

Veterinary Dermatology Drugs Market Restraining Factors

Limited Availability and Knowledge of These Drugs

Many developing and underdeveloped nations lack access to these medications, which may hinder market growth and demand for veterinary dermatology medications. Additionally, despite becoming aware of the adverse effects of such medications, pet owners in many nations still prefer to treat their animals without using medication. Additionally, the market for veterinary dermatology drugs is anticipated to face difficulties due to insufficient knowledge about these medications in many underdeveloped nations. Many nations worldwide imposed strict lockdown restrictions to stop the virus's spread. The distribution of non-essential items like pet medications is prohibited under these restrictions.

Veterinary Dermatology Drugs Market Opportunities

The Increase in Demand for Animal Antifungals

Mycotic diseases in animals have received much less attention than some common illnesses in humans and animals, such as mycoses. Compared to some common diseases affecting humans and animals, animal mycotic diseases have received less attention. This is abnormal because dermatophytes, one of the earliest disorders in animals to be recognized, act as carriers of infectious diseases in animals. The dermatophytes are thought to be responsible for a sizable portion of human skin diseases transmitted to humans by animals and are known to cause many zoonotic infections. This is unusual because one of the earliest known disorders in animals is dermatophytes acting as carriers of infectious diseases in animals. Several zoonotic infections are caused by dermatophytes, which are also thought to cause 80% of skin diseases that humans contract from animals. However, recent animal medicine and treatment advancements effectively cure such illnesses. Additionally, producers are concentrating on R&D to prevent dermatophytes and associated infections. These innovations will likely draw numerous pet owners to the market for veterinary dermatology medications throughout the anticipated period.

Veterinary Dermatology Drugs Market Regional Analysis

The global veterinary dermatology drugs market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market.

North America is the most significant shareholder in the global veterinary dermatology drugs market and is expected to grow at a CAGR of 9.12% during the forecast period. The U.S. and Canada are included in the analysis of the veterinary dermatology drugs market in North America. This is due to more people adopting companion animals in developed nations like the United States and Canada. More people are spending more on pet care in this region, boosting the market growth. The market is expanding, but the high prevalence of pruritus, sores, alopecia, masses, eruptions, scales, seborrhea, pustules, and draining tracts in companion animals is driving this. Another factor that favorably affects the market is the growing technology in veterinary medicine, which has increased the lifespan of veterinary animals. The region's growth is fueled by increased measures taken by the public and private sectors, rising pet care costs, and an increase in significant stakeholders. Additionally, zoonotic disease prevalence is likely to support market expansion.

Asia Pacific is expected to grow at a CAGR of 9.96% during the forecast period. China, India, Japan, Australia, and the rest of Asia-Pacific are all included in the Asia-Pacific veterinary dermatology drugs market analysis. Increased pet ownership and technological advancements in the drug development process are the two main drivers of the market's expansion due to factors like the rising demand for veterinary dermatology medications and the gradually growing awareness of the products' accessibility in developing nations like India and China. Additionally, the fact that many significant market players, including Elanco, have manufacturing facilities in Asia Pacific helps the region's growth. This results from both more excellent knowledge of veterinary treatment options and the location of Elanco's manufacturing facilities, which produce veterinary dermatology medications. This is one of the critical elements affecting the APAC market for veterinary dermatology medications.

Veterinary Dermatology Drugs Market Segmentation Analysis

The market is segmented by drug, animal type, and end user.

By Drugs

The global veterinary dermatology drugs market is bifurcated into non-steroidal anti-inflammatory drugs, antibiotics, and veterinary antifungal drugs.

The veterinary antifungal drugs segment is the highest contributor to the market and is expected to grow at a CAGR of 9.62% during the forecast period. Animal skin conditions are primarily treated with several antifungal medications. Growing public awareness of effective and improved treatment options will fuel the segment's expansion. These medications are widely accessible over the counter and effective for treating various skin conditions. Numerous companies produce antibacterial medications for pets and livestock. Animals like dogs, cats, equines, and poultry are the primary consumers of antifungal medications.

By Animal Type

the global veterinary dermatology drugs market is bifurcated into large animals and small animals.

The small animal segment is the highest contributor to the market and is expected to grow at a CAGR of 9.44% during the forecast period. It is anticipated that rising pet ownership will hasten market expansion. Additional divisions into distinct categories are made for cats, dogs, horses, and other animals. The dog segment is anticipated to hold the largest market share because so many products are available for treating dogs. The rising demand for animal protein and the prevalence of parasitic diseases in livestock animals are anticipated to drive the market for veterinary dermatology medications. Animals with atopic dermatitis are becoming more common, significantly impacting the need for new veterinary medications.

By End Users

The global veterinary dermatology drug market is bifurcated into veterinary hospitals and clinics.

The veterinary hospital segment is the highest contributor to the market and is expected to grow at a CAGR of 9.71% during the forecast period. The segment is likely to grow due to the rise in healthcare pharmacies. Furthermore, animal owners favor the diagnostic approach for any treatment or disease screening regarding the rehabilitation of domestic pets or farm animals. Hospital pharmacies, therefore, have a commanding market share because they are the primary locations where prescribed medications are bought. Veterinary hospitals are facilities for the routine care of livestock, pets, small animals, and birds, including immunization, vaccination, artificial insemination, surgical intervention, and more.

Impact of covid-19

The Covid-19 pandemic has significantly affected the total tile market, with demand remaining subdued for 6 months in 2020. End-use industries such as construction, manufacturing, and chemical, among others, have seen substantial expansion in the market. For example, the United States has a well-established building industry. Until 2019, the construction industry contributed over USD 2 trillion to the American economy. Due to the pandemic, the figure fell to USD 1.3 trillion in 2020. As a result, the expansion of all related industries has been impeded. Several ongoing projects have been canceled or postponed.

The usage of fluorosilicic acid for aluminum production in the automotive sector had dropped by more than 20%. The demand for aluminum in this industry is directly related to the entire vehicle output. As a result, the acid market experienced the same influence on demand. This was caused by, among other things, the entire and partial suspension of manufacturing facilities, limited transportation of commodities, a prohibition on import and export activities, and the closure of showrooms.

Key Impacts of COVID-19

• Large oil, gas, and chemical firms are reducing capital and operational expenditures.
• Companies with high debt and insufficient cash flow are more prone to encounter liquidity difficulties, and some may be forced to close their doors permanently.

Market Recovery Timeline and Challenges

The global fluorosilicic acid market research study emphasizes possible recovery scenarios during the forecast period. Fluorosilicic acid is created as a byproduct of the production of phosphate fertilizers and from phosphate rock that includes fluoride and silica and is processed with sulfuric acid. It is a dry salt additive that must be dissolved in a solution before it can be added to water. Rising ground and surface water contamination raise the need for water treatment, which raises the demand for fluorosilicic acid.

Recent Developments

• September 2022, Jurox is a privately held animal health company that develops, produces, and markets a variety of veterinary medications for treating livestock and companion animals, according to a recent announcement from Zoetis Inc. Jurox's headquarters are in Australia. It also has regional offices in New Zealand, the United States, Canada, and the United Kingdom. Financial conditions of the deal.

• June 2022, To assist veterinarians in developing treatment plans for cats with chronic kidney disease and gaining insights during wellness screenings, IDEXX Laboratories, Inc., a global leader in pet healthcare innovation, has announced new reference laboratory tests and services.