Global Veterinary Dermatology Drugs Market Size

Veterinary Dermatology Drugs Market Analysis

The Global Veterinary Dermatology Drugs Market size is estimated at USD 6.38 billion in 2024, and is expected to reach USD 9.01 billion by 2029, growing at a CAGR of 7.11% during the forecast period (2024-2029).

The outbreak of COVID-19 showed a significant impact on the veterinary dermatology drugs market because healthcare services were significantly reduced due to social distancing measures taken by governments across the globe. However, the adoption of pets was high among the global population during the pandemic phase. That positively impacted the services and medicines available for companion animal care. For instance, as per a new article published by the CBC/Radio-Canada in May 2022, there was an increase in the demand for dog services in the Prince Edward Island of Canada as the COVID-19 restrictions began to ease off during the later phases of the pandemic. Also, the article indicated that the dog care business in the region has almost doubled during 2022 for certain pet care facilities. This increase in pet care after the COVID-19 pandemic created opportunities for the availability of veterinary dermatology drugs available in the market. This positively impacted the global veterinary dermatology drugs market during the pandemic and is anticipated to witness growth over the forecast period.

Factors such as an increasing burden of dermatological diseases in pet animals and increasing pet adoption and animal care are expected to garner the demand for the availability of dermatology drugs available for veterinary use. They are anticipated to drive the overall market growth during the forecast period.

Most animals globally are affected by major skin diseases like parasitic skin diseases, alopecia, dander-related skin disorders, intrinsic skin infections, mild to harmful skin cancer, autoimmune skin diseases, and other internal skin abnormalities. For instance, according to a study published in the Veterinary Sciences Journal in July 2021, atopic dermatitis (AD) is one of the most common pet allergies. In dogs, the prevalence has become increasingly common due to rising exposure to indoor environments and processed foods for pets. Hence, the burden of AD among canines is rising and is creating demand for the availability of dermatology drugs. This is anticipated to fuel the growth of the market in the country.

Furthermore, the growing availability of research sources and company research and development activities to innovate new products are the factors fueling competitiveness in the market. For instance, in February 2021, IVC Evidensia, one of the major veterinary care providers in Europe, launched VetSoothe, an exclusive range of dermatologist-recommended and clinically proven products to all of its United Kingdom and Netherlands clinics. As better dermatological health is crucial for pets, pet owners, and livestock animals, the increasing number of products is expected to contribute to the growth of the veterinary dermatology drugs market.

However, the low availability and lack of awareness of the drugs might restrain the market growth over the analysis period.