Veterinary Dermatology Drugs Market Insights: Business Opportunities, Current Trends and Restraints Forecast 2025
According to a new report published by Reports Monitor titled, “Veterinary Dermatology Drugs Market By Product, Animal & End-User: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the veterinary dermatology drugs market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. North American region dominates the veterinary dermatology drugs market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.
Atopic dermatitis is the common cause of itching in companion animals. Atopy is genetically determined predisposition to become allergic to airborne pollens such as weeds, grass, trees, house dust, and mould. In pets such as dogs, cat’s atopic dermatitis is most common cause of chewing, biting, rubbing as well as chronic skin and ear infections. Surge in the prevalence of chronic skin disorders are due to several factors that contributed to drastic changes. Some of them are livestock, food production, social attitudes, urbanization, and increased adoption of pet animals.
The fundamental factor which contributes into the dermatological drugs market growth includes increasing demand of anti-inflammatory agents, anti-infective, local anesthetics, cleansers, and emollients to treat acne. The spreading consciousness about skin diseases, high demand for fast diagnosis, high skin cancer incidence, and other skin disorders helps to boost the market growth of veterinary dermatology drugs market. The development of innovative products and increasing numbers of mergers & acquisitions by key vendors are expected to provide numerous opportunities for the market growth during the forecast period.
However, lack of awareness about the drugs and stringent government regulations restrain the market growth.
North American region is leading with the highest market share in veterinary dermatology drugs market across the globe. U.S. is expected to dominate the revenue over the forecast period due to increase in pet ownership and ease of availability of adequate veterinary healthcare infrastructure. Increasing awareness about veterinary drugs create high demand for dermatology market in European countries such as Germany, Italy, France, and UK. However, emerging nations like China, India, Brazil, Mexico, and Russia are showing high pet adoption rate due to rising income factor.
Key Question Answered:
• What will be the market size in 2025 and at what rate it will grow?
• What trends, barriers, challenges are influencing its growth?
• Who are the major key players in global veterinary dermatology drugs market and what are their strategies?
• Which vertical industry is expected to show major growth?
• What segment and region will lead the market and why?
The major companies profiled in the report include: Bayer Animal Health, Boehringer Ingelheim Vetmedica, Ceva Sante Animale, Com Zoetis Inc., Elanco, IDEXX Laboratories, Merial, Vetoquinol S.A.panies, Virbac S.A.
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