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Veterinary Dermatology Drugs Market Size

Report ID: GMI6332
Published Date: Jul 2023
Report Format: PDF

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Veterinary Dermatology Drugs Market Size

Veterinary Dermatology Drugs Market size was valued to be USD 7.3 billion in 2022 and is expected to reach USD 18.1 billion in 2032 with a CAGR of 9.5% from 2023 to 2032. The rising incidence of skin disorders in animals, increasing medicalization rate, and increasing spending on animal healthcare are projected to drive market growth.

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The rising trend of pet ownership across the globe has led to a growing demand for veterinary pharmaceuticals, including dermatology drugs. Skin problems are common in pets, and the prevalence of dermatological conditions such as allergies, infections, and parasitic infestations has been increasing. As more people consider their pets as family members, they are willing to invest in their well-being and healthcare, leading to an increased demand for dermatology drugs for various skin conditions.

Veterinary Dermatology Drugs Market Report Attributes
Report Attribute	Details
Base Year:	2022
Veterinary Dermatology Drugs Market Size in 2022:	USD 7.3 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	9.5%
2032 Value Projection:	USD 18.1 Billion
Historical Data for:	2018 to 2022
No. of Pages:	248
Tables, Charts & Figures:	431
Segments covered:	Drug class, Indication, Route of Administration, Animal Type, Distribution Channel, and Region
Growth Drivers:	Increasing pet ownership Rising incidence of dermatological diseases Technological advancements in veterinary dermatology Increasing animal medicalization rates Increasing number of veterinary dermatology practitioners Increased spending on animal healthcare Adverse side effects and safety concerns
Pitfalls & Challenges:	High cost of drug development

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The pharmaceutical companies are investing in research and development of new and improved veterinary dermatology drugs. Advancements in drug formulations and modes of delivery are enhancing the effectiveness and ease of administering these medications.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The veterinary dermatology drugs industry size was valued to be USD 7.3 billion in 2022 and is expected to record a CAGR of 9.5% from 2023 to 2032 owing to the rising incidence of skin disorders in animals.

The oral segment was worth USD 3.4 billion in 2022 and is expected to grow at 9.2% CAGR through 2032 as this route of administration provides a systemic approach to dermatological disorders, allowing the medication to circulate through the body and address the underlying source of the problem.

North America veterinary dermatology drugs market is expected to reach USD 6.9 billion by 2032 as the region has a significant number of veterinary dermatology specialists who focus on diagnosing and treating skin conditions in animals.

Elanco Animal Health Incorporated, Vetoquinol S.A., Ceva, Merck & Co., Inc., Zoetis, Inc., Virbac, Bimeda, Inc., Vivaldis, Bioiberica S.A.U, and Indian Immunologicals Ltd.