The Europe Veterinary Dermatology Drugs Market would witness market growth of 7.8% CAGR during the forecast period (2021-2027).
The increase in the geographical spreading of parasites and the high risk of vector-borne infections outside conventional endemic areas are due to the changes in the ecology of parasite habitats. Moreover, the advent of foreign species in endemic areas, climate change, and increment in travel by companion animal owners have also boosted the demand for veterinary dermatology drugs market. This factor is expected to create lucrative growth opportunities for the players operating in the veterinary dermatology drugs market during the forecast period. Moreover, there has been a constant rise in emerging diseases like helminth parasites and protozoal parasitic diseases. Further, the growth of the veterinary dermatology drugs market would be boosted by the development of innovative methods like molecular diagnostics to detect and fight against these diseases.
Major market players are putting high investments to roll out the latest products, thereby creating new growth avenues in the market. For example, Elanco rolled out its first oral flea and tick products for cats in May 2021. The product is termed Credelio CAT (lotilaner) and it expands Elanco's product portfolio and assists it to get a competitive advantage in the market.
Europe is expected to remain the prominent region in the overall veterinary dermatology drugs market during the forecast period. The growth of the regional market would be boosted by the various dermatological associations in the European region which is boosting the awareness regarding skin disorders. For example, the European Society of Veterinary Dermatology is a non-profit organization that propels the development of veterinary dermatology across Europe and offers funding for both research activities as well as education programs like workshops.
The region was severely hit by the global pandemic; hence the regional market is negatively impacted by the complete or partial closure of manufacturing, packaging, and processing operation across different countries of the region. However, the manufacturing units of such companies are still operational and they are completely following the social distancing and other safety and hygiene norms formulated by the government. Hence, these factors are estimated to boost the growth of the regional veterinary dermatology drugs market during the forecast period.
The Germany market dominated the Europe Online Market by Country 2020, thereby, achieving a market value of $189.9 million by 2027. The UK market is exhibiting a CAGR of 7.5% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 9% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Veterinary Dermatology Drugs Market Size will Hit $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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