Veterinary Dermatology Drugs Market - By Drug Class (Antibacterial, Antifungal, Antiparasitic) Indication (Parasitic, Autoimmune), Route of Administration (Topical, Oral), Animal (Companion, Livestock), Distribution Channel, Global Forecast (2023 – 2032)

Veterinary Dermatology Drugs Market - By Drug Class (Antibacterial, Antifungal, Antiparasitic) Indication (Parasitic, Autoimmune), Route of Administration (Topical, Oral), Animal (Companion, Livestock), Distribution Channel, Global Forecast (2023 – 2032)

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.
 

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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.

COVID-19 Impact

The COVID-19 pandemic had a significant impact on the veterinary dermatology drugs market. During the early stages of the pandemic, disruptions in global supply chains affected the availability and distribution of various pharmaceutical products, including veterinary drugs. This could have led to challenges in accessing certain veterinary dermatology drugs. In addition, many veterinary clinics had to implement safety measures such as social distancing and limited in-person appointments to reduce the risk of COVID-19 transmission. This may have affected the frequency of pet visits and consultations, leading to altered prescription patterns for veterinary dermatology drugs.

However, the pandemic influenced pet owner spending behaviour, with some focusing more on essential pet care needs and limiting non-urgent veterinary visits. This might have impacted the demand for certain veterinary dermatology drugs. Also, pandemic has led to an increase in pet adoptions and fostering in some countries such as U.S., UK, and Germany. This influx of new pet owners boosts the market size.

However, disruptions in supply chains resulting in medication shortages and reduction in number of patient visits due to lockdowns has significantly impacted the market. With the reduction in the number of coronavirus cases, the market is resuming its normal growth. 

Veterinary Dermatology Drugs Market Trends

Several trends were shaping the market includes the growing trend of pet humanization and increased awareness about pet health has led to a higher demand for specialized veterinary dermatology drugs, rising emphasis on preventive care, including dermatological health, increasing investments in research and development to improve drug formulations for veterinary dermatology, rising prevalence of allergies, such as atopic dermatitis, the increasing adoption of telemedicine and e-commerce in veterinary care, and rising adoption of pet insurance. These above factors are driving the market trends.

Veterinary Dermatology Drugs Market Analysis

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Based on drug class, the market is categorized into antifungal drugs, antibacterial drugs, antiparasitic drugs, and other drug classes. The antibacterial drugs segment held the largest market share of 38.0% in 2022. Bacterial skin infections are common in pets, particularly dogs and cats. Bacteria such as Staphylococcus spp., Streptococcus spp., and Pseudomonas spp. can cause these diseases. As bacterial skin infections are so common, there is a strong demand for effective antibacterial medications in veterinary dermatology.

Based on indication, the veterinary dermatology drugs market is categorized into parasitic infections, autoimmune skin diseases, allergic infections, skin cancer, and other indications. The parasitic infections segment held the largest market share of 33.3% in 2022. Parasitic infections are widespread in animals, and they can cause a range of skin problems, including dermatitis, itching, and hair loss. The high prevalence of parasitic infections drives the demand for animal parasiticides.

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Based on route of administration, the veterinary dermatology drugs market is bifurcated into injectable, topical, and oral. The oral segment was anticipated to be worth of USD 3.4 billion in 2022 and is expected to grow at 9.2% CAGR during the forecast period. Oral medications provide a systemic approach to dermatological disorders, allowing the medication to circulate through the circulation and address the underlying source of the problem. They are frequently selected due to their potency and ease, as they may be taken orally and do not require external administration. In addition to this, oral route has higher compliance in animals which ensures the consistent intake of medications, leading to better treatment outcomes.

Based on animal type, the veterinary dermatology drugs market is classified into companion animal and livestock animal. The companion animal is further divider into dogs, cats, horses, and other companion animals. The livestock animal is further divider into bovine, swine, and other livestock animals. The companion animal segment held dominant market share of 60.6% in 2022 and is expected to grow at a significant pace of 9.6% during the forecast period. The increasing number of pet owners and the growing trend of pet humanization have led to a larger population of companion animals. As more pets become part of households, there is a higher demand for veterinary services and medications, including dermatology drugs.

Based on istribution channel, the veterinary dermatology drugs market is classified into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held dominant market share of around 56.5% in 2022. Hospital pharmacies stock a wide range of dermatology drugs to manage various skin issues in animals, including bacterial, fungal, and parasitic infections. The availability of these medications ensures timely and effective treatment of dermatological conditions.

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North America veterinary dermatology drugs market accounted for significant revenue in 2022 and is expected to reach USD 6.9 billion in 2032 with a CAGR of 9.3% from 2023-2032. North America has a significant number of veterinary dermatology specialists who focus on diagnosing and treating skin conditions in animals. The availability of specialized care drives the demand for specific dermatology drugs in the region. In addition, the region's strong research and development efforts in veterinary medicine have led to advancements in dermatology drugs. The introduction of new and improved formulations enhances the treatment options available for veterinarians.

Moreover, the trend of pet humanization, where pets are considered part of the family, is increasing in North America. Pet owners are willing to invest in their pets' health and well-being, leading to a higher demand for advanced veterinary dermatology drugs to address skin issues.

Veterinary Dermatology Drugs Market Share

There are several significant competitors in the highly competitive veterinary dermatology drugs companies. The prominent players are

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

To keep a competitive advantage in the market, such companies are putting various tactics into practice, including partnerships, mergers, acquisitions, collaborations, and product launches.

Veterinary Dermatology Drugs Market Industry News

• In March 2023, Zoetis announced the addition of two new applications to its Vetscan Imagyst multipurpose diagnostic platformone for AI dermatology and another for AI equine FEC analysis. The Vetscan Imagyst AI dermatology application analysis ear and skin swaps, impression smears, to detect yeast, bacteria, and inflammatory cells providing accurate results.
• In January 2022, Percheron Capital has acquired the majority stake in Animal Dermatology Group, Inc. (ADG), a veterinary dermatology expert in the United States. With this acquisition, ADG's veterinary dermatology specialised services are now available in 12 states throughout the US.

The veterinary dermatology drugs market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments

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Market Size, By Drug Class

• Antibacterial drugs
• Antifungal drugs
• Antiparasitic drugs
• Other drug classes

Market Size, By Indication

• Parasitic infections
• Allergic infections
• Autoimmune skin diseases
• Skin cancer
• Other indications

Market Size, By Route of Administration

• Injectable
• Topical
• Oral

Market Size, By Animal Type

• Companion animal
  • Dogs
  • Cats
  • Horses
  • Other companion animals
• Livestock animal
  • Bovine
  • Swine
  • Other livestock animals

Market Size, By Distribution Channel

• Hospital pharmacies
• Retail pharmacies
• Online pharmacies

The above information is provided for the following regions and countries

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America 
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa 
  • South Africa
  • Saudi Arabia
  • Rest of Middle East & Africa