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The Latin America, Middle East and Africa Veterinary Dermatology Drugs Market would witness market growth of 9% CAGR during the forecast period (2021-2027).
The growth of the veterinary dermatology drugs market is directly proportional to the occurrence of chronic skin diseases. Factors such as rise in demand for farm animal and poultry industry, increasing awareness about several dermatological diseases & treatment methods, supportive government steps towards farm animal production would act as growth catalysts for the overall veterinary dermatology drugs market during the forecasting period.
In addition, animals are highly prone to different kinds of chronic skin diseases. A few skin tumors can be managed with the help of cryotherapy or medical therapy. Many agents like allergens, external irritants, burns, trauma (Viral, bacterial, fungal, other parasitic) can cause different skin diseases. The increase in the number of chronic skin diseases and surging mergers & acquisitions to provide innovative products would boost the growth of the veterinary dermatology drugs market during the forecast years. Furthermore, the overall market is expected to witness new growth avenues due to the increase in awareness among pet lovers and the rise in the number of health checkups.
Brazil is one of the leading countries in the regional veterinary dermatology drugs market due to the high acceptance of pets among the households of this country. Moreover, the aging population that lives alone, having lower interaction with family, combined with financial stability are the catalysts for the adoption rate of pets and the increasing interest in giving appropriate pet drugs, hence supporting the regional veterinary dermatology drugs market.
The main reasons for owning a pet are the increasing number of isolated professionals, the social comfort, security, company, and appealing sense. The growing number of nuclear families is expected to create the desire for pets, which ultimately fuels the demand for veterinary dermatology drugs in the regional market. Therefore, these factors are expected to boost the demand & growth of the regional veterinary dermatology drugs market in the upcoming years.
The Brazil market dominated the LAMEA Livestock Animal Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $226.3 million by 2027. The Argentina market would witness a CAGR of 8.6% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 10.2% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
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