The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s veterinary dermatology drugs market report forecasts the veterinary dermatology drugs market size to grow to $11.46 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The Veterinary Dermatology Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/veterinary-dermatology-drugs-global-market-report

Veterinary Dermatology Drugs Market Size Forecast
The global veterinary dermatology drugs market is expected to grow from $6.92 billion in 2022 to $7.72 billion in 2023 at a compound annual growth rate (CAGR) of 13.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The veterinary dermatology drugs market size is expected to grow to $11.46 billion in 2027 at a CAGR of 10.4%.

North America held the largest veterinary dermatology drugs market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Veterinary Dermatology Drugs Market Driver ­– Increase Number Of Pet Owners
For instance, in 2021, according to a national poll by the American Society for the Prevention of Cruelty to Animals (ASPCA), a US-based non-profit organization working to prevent animal cruelty, out of all the respondents, one in five households had a cat or dog from the beginning of the COVID-19 crisis, which accounted for 23 million households. 90% of dogs and 85% of cats were still in their adopted homes, and the households were not considering abandoning them again. Therefore, the increasing number of pet owners is driving the veterinary dermatology drugs market.

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Key Veterinary Dermatology Drugs Market Trend – Product Innovation
Major companies operating in the veterinary dermatology drugs market are introducing new products, such as Stelfonta injectables, to sustain their position in the market. For instance, in July 2020, Virbac, a France-based company focused on animal health product development, launched a Stelfonta injectable to treat mast cell cancers in dogs. The new product is a breakthrough solution for mast cell tumors, which are a leading form of skin cancer. Stelfonta destroys tumors in a unique way without the need for surgery.

Veterinary Dermatology Drugs Market Segment
1) By Product Type: Antifungal Drugs, Antibacterial Drugs, and Antiparasitic Drugs
2) By Animal Type: Companion Animal, Livestock Animal
3) By Drug Indication: Parasitic Infections, Allergic Infections, and Other Indications
4) By Route of Administration: Topical, Injectable, Oral
5) By Distribution Channel: Retail, Hospital Pharmacies, Online

Veterinary Dermatology Drugs Market Major Players and Strategies
Major players in the veterinary dermatology drugs market are Elanco Animal Health Inc., Merk & Co., Inc., Zoetis Inc., Vetoquinol SA, Ceva Santé Animale, Virbac S.A., Bioibérica S.A.U., Bimeda Inc., Indian Immunologicals Ltd., Vivaldis Health and Fodds Pvt. Ltd., IDEXX Laboratories Inc., Eli Lilly and Company, SavaVet, Toray Industries Inc., and AB Science.

In August 2021, Elanco Animal Health Incorporated, a US-based pharmaceutical company, acquired Kindred Biosciences for a deal value of $444 million. The acquisition would strengthen and accelerate Elanco’s innovation, portfolio, and product strategy and help Elanco deliver veterinary solutions to meet the unmet needs of pet owners. Kindred Biosciences is a US-based commercial-stage biopharmaceutical company focusing on developing drugs for pets and operating in the veterinary dermatology drugs market.

The Veterinary Dermatology Drugs Global Market Report 2023 covers regional data on veterinary dermatology drugs market size, veterinary dermatology drugs market trends and drivers, opportunities, strategies, and veterinary dermatology drugs market competitor analysis. The countries covered in the veterinary dermatology drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Veterinary dermatology drugs refer to the drugs used to treat dermatological disorders in animals that are suffering from skin diseases such as bacterial and fungal infections.

View More Reports Related To The Veterinary Dermatology Drugs Market –
Veterinary Dietary Supplements Global Market Report 2023
Veterinary Medicine Global Market Report 2023
Veterinary Antibiotics Global Market Report 2023

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