by Canine atopic dermatitis, commonly known as dog eczema, is a chronic skin condition caused by allergic inflammation and intense itching. Some common symptoms of the condition include inflammation of the skin, rashes, hair loss, redness, and lesions. Treatment drugs for canine atopic dermatitis aim to relieve itching, reduce skin inflammation and infection, and prevent flare-ups.
The global Canine Atopic Dermatitis Treatment Drugs Market is estimated to be valued at US$ 980 million in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
According to the 2021-2022 APPA National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 70.6 million American households own a dog as a pet in 2022. New pet owners are increasingly aware about various skin conditions in dogs and looking for effective treatment options to control symptoms and provide relief to their pets. This growing pet owner pool and their higher willingness to spend on pet healthcare needs is augmenting demand for innovative drugs to treat canine atopic dermatitis.
SWOT Analysis
Strength: Canine atopic dermatitis treatment drugs have a well-established use and proven efficacy. Brand recognition and reputation of leading drug manufacturers provide an advantage.
Weakness: High costs associated with research and development of new drugs limit investments. Switching between brands by pet owners increases price sensitivity.
Opportunity: Growing pet care industry and rise in pet ownership across regions present new markets. Development of advanced therapeutics and combination therapies can further expand the treatment landscape.
Threats: Increased competition from generic drug manufacturers poses pricing challenges. Entry of alternative therapies and nutraceuticals can reduce sole reliance on pharmaceuticals over the long term.
Key Takeaways
The Global Canine Atopic Dermatitis Treatment Drugs Market Size is expected to witness high growth. The global Canine Atopic Dermatitis Treatment Drugs Market is estimated to be valued at US$ 980 million in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.
North America currently dominates the market and is expected to continue its dominance over the forecast period. High pet care expenditure and growing number of veterinary practitioners in the region supports market growth. The Asia Pacific region is anticipated to show fastest growth aided by increasing pet adoption, rise in pet owners’ disposable income, and growing awareness about veterinary healthcare.
Key players operating in the canine atopic dermatitis treatment drugs market are Zoetis, Virbac, AB Science, Toray Industries, Novartis, and Elanco. Zoetis leads the market with its branded drugs Apoquel and Cytopoint indicated for the treatment of canine atopic dermatitis. Other major players focus on launching affordable generic versions and combination therapies to gain market share.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
