The Asia Pacific Veterinary Dermatology Drugs Market would witness market growth of 9.5% CAGR during the forecast period (2021-2027).
The veterinary profession has witnessed a dramatic transition in the last couple of years. A number of different demographic and socioeconomic factors are responsible for these transitions, including livestock, social attitudes, food production, higher adoption of companion animals, the fast pace of urbanization, and these are anticipated to drive the growth of the veterinary dermatology drugs market during the forecasting period. Atopic dermatitis is the main cause of itching in companion animals. Atopy is a genetically acquired predisposition to get allergic to airborne pollens like grass, weeds, house dust, trees, molds, and dust. In companion animal dogs, cats’ atopic dermatitis is the leading cause of biting, chewing, rubbing, and chronic skin & ear infections.
Factors like surging medical & diagnostic capabilities for companion animals and growing ownership of companion animals would support the growth & demand for veterinary dermatology drugs. In addition, the growth of the overall market is further driven by the major strategies adopted by market players in the industry such as partnerships, collaborations, and mergers & acquisitions. The application of veterinary dermatology drugs is expected to increase due to the growing longevity of pet animals because of the enhancements in diagnostics, higher significance placed on wellness and prevention of diseases by veterinarians, and better nutrition.
The Asia-Pacific, led by China, India, Japan, and South Korea is as one of the key markets around the world. The massive demand for veterinary dermatology drugs is directly proportional to the growth of the regional market. The developing countries of the region such as India have witnessed the unbridled spread of misinformation from the immunity to infection of the pets; some households began to leave their pets. This compelled the companies operating in the pet food market to introduce various awareness campaigns to dismiss the rumors.
Due to the panic purchasing of pet food and drugs, a massive supply and demand gap has been created in the market. In addition, the veterinary dermatology drugs market in the region was incapable to fulfill the demand because of the disruptions in the supply chain and declined logistic services. Hence, the growth of the regional market is expected to be fueled by the rapid urbanization and infrastructure changes in the last few years.
The China market dominated the Asia Pacific Allergic Infections Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $310.2 million by 2027. The Japan market is showcasing a CAGR of 9% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 10.5% during (2021 - 2027).
Based on Route of Administration, the market is segmented into Topical, Injectable and Oral. Based on Distribution Channel, the market is segmented into Retail, Hospital Pharmacies and Online. Based on Drug Indication, the market is segmented into Parasitic Infections, Allergic Infections and Other Indications. Based on Animal Type, the market is segmented into Companion Animal and Livestock Animal. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Veterinary Dermatology Drugs Market is Projected to reach USD 13.6 Billion by 2027, at a CAGR of 8.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Merck Group, Elanco Animal Health, Inc., Zoetis, Inc., Eli Lilly and Company, Boehringer Ingelheim International GmbH, Vetoquinol SA (Soparfin SCA), Virbac, Bioibérica, S.A.U., Bimeda, Inc., and Ceva Santé Animale.
By Route of Administration
By Distribution Channel
By Drug Indication
By Animal Type
By Country
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