Global Canine Atopic Dermatitis Treatment Drugs Market, by Drug Class (Janus Kinase Inhibitors, Immunosuppressant, Monoclonal Antibody, Antibiotics, and Others), by Route of Administration (Injection, Oral, and Topical), by Distribution Channel (Hospital and Clinics, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 765 in 2021 and is projected to exhibit a CAGR of 16.5% over the forecast period (2021 - 2028), as highlighted in a new report published by Coherent Market Insights.

Rising healthcare expenditure for pets and treatment of canine atopic dermatitis are expected to drive the canine atopic dermatitis treatment drugs market growth over the forecast period. For instance, according to American Pet Products Association (APPA) report of March 2019,  pet care spending in 2018 reached US$ 72.5 billion compared to US$ 69.5 billion in 2017, an increase of over 4%.

Moreover, major players are focused on drug development, approvals from regulatory bodies, and commercialization of innovative therapeutics for canine atopic dermatitis. Thus, increasing product approval and agreements are expected to significantly drive growth of the global canine atopic dermatitis treatment drugs market over the forecast period.

For instance, in December 2020, Kindred Biosciences, Inc., a biopharmaceutical organization which focuses on improving the lives of animals, announced an agreement permitting Elanco Animal Health, a world leader in developing innovative products and solutions that enhance animal health, incorporated exclusive global rights to KIND-030, a monoclonal antibody targeting canine parvovirus. The organization also has the rights to refuse to manufacture certain antibody products of Elanco’s, as per stated in the agreement.

Canine Atopic Dermatitis Treatment Drugs Market – Impact of Coronavirus (COVID-19) Pandemic

COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 260 million cases and 5.2 million deaths due to Coronavirus (COVID-19) were reported up till November 29, 2021, across the globe.

The cats, dogs and other types of animals are at risk of obtaining the virus, as per the data of centers for disease control and prevention. The study is still further continued regarding the connection between human and animal transmission of virus. Moreover, the government is looking after all the services that can help in supplying the medicines. For instance, the European Medicines Agency provided direction for the organization who are responsible for veterinary medicines, firstly to overcome the challenges faced in between the pandemic.

In 2020, according to the research article, Humanities and Social Sciences Communications, the study revealed the rising rate of dog adoption during pandemic crisis of 72,704 in April 2019, and 221,956 in April 2020.

Browse 35 Market Data Tables and 33 Figures spread through 165 Pages and in-depth TOC on "Canine Atopic Dermatitis Treatment Drugs Market, by Drug Class (Janus Kinase Inhibitors, Immunosuppressant, Monoclonal Antibody, Antibiotics, and Others), by Route of Administration (Injection, Oral, and Topical), by Distribution Channel (Hospital and Clinics, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2028"

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/canine-atopic-dermatitis-treatment-drugs-market-4886

Many companies are focusing on research and development of new drugs for treating canine atopic dermatitis, which is expected to boost the growth of the global canine atopic dermatitis treatment drugs market over the forecast period. For instance, Kindred Biosciences Inc., is a biopharmaceutical company developing innovative biologics focused on saving and improving the lives of pets, has a robust pipeline of preventive drugs for dogs, cats, and horses, in which three drugs are undergoing clinical trials and are expected to be novel immunotherapies for treatment of canine atopic dermatitis.

Key Takeaways of the Canine Atopic Dermatitis Treatment Drugs Market:

  • The global canine atopic dermatitis treatment drugs market is expected to witness a CAGR of 16.5% during the forecast period (2021–2028), owing to the rising healthcare expenditure for pets and treatment of canine atopic dermatitis
  • Among drug class, the Janus kinase inhibitors segment is expected to account for major revenue share in 2028, owing to its better survival rates and rising sales. For instance, in 2018, APOQUEL generated a revenue of US$ 464 million in sales. APOQUEL is the largest revenue generating product of Zoetis Inc., a global animal health company.
  • Major players operating in the global canine atopic dermatitis treatment drugs market include Zoetis Inc., Elanco Animal Health Incorporated, Virbac, Kindred Biosciences, Inc., Nippon Zenyaku Kogyo Co., Ltd. (ZENOAQ), Bioiberica S.A.U, Dechra Pharmaceuticals PLC, and Toray Industries, Inc.

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