Industry leaders must forge strategic alliances with regional players to reinforce their global presence and variegate product offerings for sustained competitive ascendancy in canine atopic dermatitis treatment market.
Global revenues of canine atopic dermatitis treatment market will surpass US$ 2.4 Bn in 2029. The growth in market value will be staggering, accredited to advancements in biotechnology, gene therapy, digital innovations, and increased investments from market players, as indicated by a new FMI report.
“Sales of canine atopic dermatitis treatment drugs and vaccines will continue to surge at an impressive rate owing to innovations in novel drug development in veterinary science. In view of enhanced resistance towards certain therapeutic agents, the demand for immune-specific vaccines and drugs is witnessing an upswing,” says the FMI analyst.
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Key Takeaways of Canine Atopic Dermatitis Treatment Market Study
- Immunosuppressant drugs that currently lead the market will lose their market share to monoclonal antibodies (mAb).
- Oral administration remains at the forefront of preferred drug intake method.
- Injectable drugs will witness a steady CAGR and will rise to prominence by 2029, surpassing oral administration.
- Retail pharmacies continue to hold the leading revenue share; veterinary clinics closing in.
- Gains in canine atopic dermatitis treatment market are concentrated in North America.
Top Growth Drivers
- Established players in human life sciences are investing significant pecuniary resources in veterinary science, ascertaining the market growth.
- Robust healthcare infrastructure and rising pet ownership are bolstering the growth of market in North America.
- Swift recovery and less side effects remain the growth levers fueling demand for injectable veterinary drugs.
- Increasing online availability and easy accessibility of medical information will continue to be the significant growth contributor.
- Certain therapeutic agents are facing increasing resistance, which is limiting the demand for immunosuppressant drugs.
- Ineffectual management by healthcare providers is a major hindrance to market growth.
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Leading players in global canine atopic dermatitis treatment market include, but are not limited to, Elanco Animal Health, Zoetis, Boragen Inc., and Immunomic Therapeutics Inc. Industry giants are focused on strategic alliances with regional players to boost their global presence. They continue to direct substantial resources towards regional acquisitions in order to fortify their market foothold. For instance, Zoetis acquired Nexvet Biopharma (2018) to accelerate the development of mAb therapies. This would enable the company to create new alternatives for treating canine atopic dermatitis. On the other hand, Elanco Animal Health acquired Boehringer Ingelheim Vetmedica, Inc. (2017), to innovate their range of rabies vaccines, canine and feline products.
More About the Report
This 213-page study offers an in-depth market forecast and analysis on canine atopic dermatitis treatment market. The major categories encompassed by the report include drug class (monoclonal antibodies, antipruritics, essential fatty acids, emollients, antihistamines, antibiotics, immunosuppressants and corticosteroids), mode of administration (injectable, oral and topical), distribution channel (mail order pharmacies, drug stores, retail pharmacies, veterinary clinics and veterinary hospitals) across seven regions (Oceania, East Asia, South Asia, Latin America, North America, Middle East & Africa and Europe).