April 24, 2024
Canine Atopic Dermatitis Treatment Drugs Market

Canine Atopic Dermatitis Treatment Drugs Market Estimated to Witness Growth Due to Increasing Prevalence of Canine Allergies

Atopic dermatitis or eczema is a chronic allergic skin disease in dogs usually accompanied by skin inflammation and extreme itching. Treatment drugs include glucocorticoids, antihistamines, cyclosporine, etc that provide relief by reducing inflammation and itching.

The global canine atopic dermatitis treatment drugs market size was valued at US$ 1196.1 Mn in 2024 and expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the canine atopic dermatitis treatment drugs are Akzo Nobel N.V., Ashland Inc., CP Kelco, Daicel Corporation, The Dow Chemical Company, Lamberti S.p.A., Penn Carbose Inc., Sichem LLC, SINCOCMC Co. Ltd, Yixing Tongda Chemical Co. Ltd, and Nouryon. Key opportunities in the market include development of safer and more effective drugs to treat canine atopic dermatitis. The Global Canine Atopic Dermatitis Treatment Drugs Market Size is expanding owing to increasing pet ownership and healthcare expenditure globally.

Market Drivers

The increasing prevalence of canine atopic dermatitis and allergies is a major market driver. As per recent statistics, over 10% of the canine population suffers from atopic dermatitis globally. Rising awareness among pet owners about condition and its treatment is fuelling demand for innovative drugs. Growing companion animal healthcare industry and rising per capita animal healthcare spending also support the market growth.

PEST Analysis

Political: The government policies regarding animal healthcare and pharmaceutical regulations influence the market. Regulations on drug approval processes affect market growth.

Economic: Economic growth and increasing disposable incomes have positively impacted healthcare spending on pets, fueling market demand. The costs of R&D and clinical trials influence industry profitability.

Social: Rising pet ownership and humanization of pets have increased awareness about animal health issues. Pet owners are increasingly willing to spend on diagnosis and treatment of dermatitis in dogs.

Technological: Developments in drug delivery technologies help provide effective treatment while reducing side effects. Advancements in genetic research are improving the understanding of atopic dermatitis and aiding the development of targeted therapies.

The United States represents the largest market for canine atopic dermatitis treatment drugs in terms of value. This can be attributed to factors such as high pet ownership, greater accessibility to healthcare, and rising expenditure on animal health. Europe is the second largest regional market driven by a growing dog population, increasing pet healthcare expenditure, and favorable regulations. The markets in Asia Pacific and Latin America are expected to witness rapid gains owing to rising pet adoption, growing middle class, and improving healthcare infrastructure in many emerging nations.

The Asia Pacific region is poised to be the fastest growing regional market for canine atopic dermatitis treatment drugs over the forecast period till 2031. This can be credited to steady economic development, increasing awareness about pet healthcare, and growing pet ownership in highly populated countries such as China and India. Initiatives by market players to expand product accessibility through partnerships with local distributors are further enhancing market prospects in the Asia Pacific region.

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