Asia Pacific Veterinary Dermatology Drugs Market By Route of Administration (Topical, Injectable and Oral), By Distribution Channel (Retail, Hospital Pharmacies and Online), By Drug Indication (Parasitic Infections, Allergic Infections and Other Indications), By Animal Type (Companion Animal and Livestock Animal), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
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.
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.
Scope of the Study
Market Segments Covered in the Report:
By Route of Administration
By Distribution Channel
- Hospital Pharmacies
By Drug Indication
- Parasitic Infections
- Allergic Infections
- Other Indications
By Animal Type
- Companion Animal
- Livestock Animal
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Merck Group
- Elanco Animal Health, Inc.
- Zoetis, Inc.
- Eli Lilly and Company
- Boehringer Ingelheim International GmbH
- Vetoquinol SA (Soparfin SCA)
- Bioibérica, S.A.U.
- Bimeda, Inc.
- Ceva Santé Animale
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