April 24, 2024

The Canine Atopic Dermatitis Treatment Drugs Market is driven by increasing pet adoption and spending

The Canine Atopic Dermatitis Treatment Drugs Market involves various treatment options for dogs suffering from atopic dermatitis, a chronic itchy inflammatory skin condition caused by an allergy. Atopic dermatitis affects 10-15% of all dogs and the main treatment options include corticosteroids, antimicrobial drugs, and immunomodulators. Corticosteroids are one of the most effective atopic dermatitis treatment in dogs for reducing itching and skin inflammation. Antimicrobial drugs are prescribed to prevent and treat secondary bacterial or yeast infections of the skin. Immunomodulators are also gaining popularity due to their ability to modify the immune system response and therefore provide long-term control of the disease with minimal side effects.

The global Canine Atopic Dermatitis Treatment Drugs Market is estimated to be valued at US$ 695.7 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:

Monoclonal antibodies target a specific component of the immune system and helps regulate immune response in atopic dogs. For instance, Cytopoint is a monoclonal antibody approved by FDA in 2017 for treatment of atopic dermatitis in dogs. It targets a cytokine called interleukine-31 that is believed to cause itchiness in atopic dogs. Cytopoint provides symptom relief for 8 weeks in most dogs with a single injection. Its long-lasting effect and minimal side effects compared to drugs are increasing its popularity among veterinarians and pet owners.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in this market as it requires high R&D investment and regulatory approvals to develop new canine atopic dermatitis treatment drugs.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are several established brands for pet owners to choose from.
Bargaining power of suppliers: The bargaining power of suppliers is moderate since there are many suppliers for active pharmaceutical ingredients and contract manufacturing services.
Threat of new substitutes: The threat of new substitutes is low as the available substitutes are not clinically proven to be as effective as the prescription drugs in treating canine atopic dermatitis symptoms.
Competitive rivalry: The competitive rivalry is high among existing players due to their established brands and distribution networks.

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$ 695.7 Million in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Regional analysis: North America is currently the largest as well as the fastest growing regional market. This is attributed to growing pet ownership and higher healthcare spending on pets in the US and Canada. Europe is another major regional market driven by rising awareness about animal health in countries like the UK, Germany, France, Italy and Spain.

Key players: Key players operating in the canine atopic dermatitis treatment drugs market are Zoetis, Virbac, Elanco Animal Health, Bayer, and Dechra Pharmaceuticals PLC. Zoetis dominates the market with its strong portfolio of antihistamines and corticosteroids for dermatitis medications. Elanco holds a significant share with its monoclonal antibody therapy aimed at blocking itch-causing cytokines in dogs.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it