The canine atopic dermatitis treatment drugs market is estimated to be valued at USD 1,494.4 Mn in 2024, growing at a CAGR of 10.7% over the forecast period (2024-2031). Furthermore, rising awareness regarding animal health and increasing disposable income are contributing to the growth of the market.
Market Dynamics:
The canine atopic dermatitis treatment drugs market is primarily driven by rising incidences of atopic dermatitis in dogs owing to factors such as changes in climate and environment. Canine atopic dermatitis accounts for approximately 10-15% of skin diseases in dogs. Secondly, pet adoption has significantly increased over the past few years. According to the APPA National Pet Owners Survey conducted in 2021, approximately 70.6 million American households own a dog. The rising affection of owners towards pets is contributing to growing demand for advanced treatment drugs to offer relief from skin conditions like atopic dermatitis. The increasing availability of immunotherapy & antihistamines coupled with technological developments in veterinary healthcare are further expected to boost the canine atopic dermatitis treatment drugs market over the forecast period.
Increasing Prevalence of Atopic Dermatitis in Dogs is Driving the Market Growth
Increasing prevalence of atopic dermatitis in dogs is expected to drive the growth of the market over the forecast period. For instance, in October 2020, according to data provided by the Brazilian Journal of Veterinary Research, Institute of Animal Health and Production and Federal Rural University da Amazônia, (UFRA), Brazil, initiated a study to determine the prevalence of canine atopic dermatitis. The study was conducted at the Veterinary Hospital of the Federal Rural University of Amazônia, Brazil, from October 2018 to October 2019. During this period, 456 dogs were examined, out of which, 25.65% (117) were diagnosed with atopic dermatitis. Among the animals diagnosed, 62.4% (73) were females and 51.7% (29) were of the Shih-tzu breed.
Growing Awareness about Pet Care is Boosting Drug Usage
Another key factor supporting the rising demand for canine atopic dermatitis treatment drugs is the increasing awareness among pet owners about animal healthcare. Nowadays, pet owners are more willing to spend on treatments for skin, ear, and other conditions affecting their furry companions. They also show high compliance with vet-recommended medications and therapies. Growing humanization of pets and perceiving them as family members have led owners to seek prompt diagnosis and management of atopic dermatitis in dogs. Various social media influencers and online communities created by leading pharmaceutical companies also play a role in improving awareness about the availability of safe and effective treatment options for canine skin allergies. All these trends emphasize the importance of proper care for allergy symptoms, bolstering the sales of prescription drugs and therapeutics.
Lack of Disease-modifying Drugs May Restrain Market Potential
Stringent regulatory approvals are expected to hamper the growth of the global canine atopic dermatitis treatment drugs market over the forecast period. Life sciences tool developers go through a long and rigorous approval process to get their new tools approved for research and development in the biotechnology and pharmaceutical industries. Receiving regulatory clearances involves conducting extensive testing, clinical trials, and compiling voluminous documentation to prove the safety and efficacy of novel life sciences tools. This approval process can take several years and millions of dollars in investments for tool developers before they commercialize their products.
Growing Veterinary Expenditure Spurs New Opportunities
One opportunity area for market participants is the consistently rising total spending on pet healthcare over the past decade. Global veterinary expenditures increased from US$ 72 billion in 2010 to US$ 109 billion in 2020 and are projected to surpass $155 billion by 2027. These stats demonstrate pet owners’ continuously deepening commitment to their animals’ well-being. It underscores the viability of investments to enrich the current therapeutic armamentarium. Novel treatment modifications harnessing advanced delivery platforms, improved efficacy profiles, and convenient dosing schedules stand to attract high spending on specialty veterinary care. Personalized medicine diagnostics and therapeutics tailored to specific disease subtypes may also appeal to discerning clients. Overall, the expanding pet care economy worldwide offers fertile ground for the introduction of upgraded atopic dermatitis solutions yielding higher returns.
Key Development
- In April 2023, Bioiberica S.A.U, a global biotechnology company, announced the launch of the Atopivet Collar, a skin health solution for the treatment of atopic dermatitis in dogs. Atopivet Collar is a cosmetic product for dogs and cats that maintains healthy skin by hydrating and nourishing the skin of pets.
- In January 2022, Dechra Pharmaceuticals PLC, a pharmaceutical company, announced a partnership with Bioiberica S.A.U, a life science company, for the license and distribution of its Atopivet range of dermatology products, such as Atopivet Collar, Atopivet Spot-on, and Atopivet Mousse, for cats and dogs in the U.S.
- In January 2022, Vimian, a Sweden-based animal health company, announced that its subsidiary named Nextmune, a science-based specialty pharmaceutical company, acquired Bova Holdings Limited, a specialty pharmaceuticals company that develops, manufactures, and commercializes customized pharmaceuticals products for animal health. This acquisition helped Vimian, to expand its animal health product portfolio.
- In February 2021, Biogal, a pharmaceutical company, announced that it had entered into a strategic partnership with Eurovets Veterinary Suppliers, a veterinary medicine supplier in South Africa, for the distribution of veterinary and diagnostic solutions such as veterinary topical solutions, spracs, and others in the U.A.E, Bahrain, Saudi Arabia, Oman, Kuwait, and Qatar
Key Players: Bioiberica S.A.U, Dechra Pharmaceuticals PLC, Elanco, NIPPON ZENYAKU KOGYO CO., LTD, Vimian, TORAY INDUSTRIES, INC., Zoetis, Virbac, Ceva, Bimeda, Inc., Vivaldis, VetriMax Veterinary Products, Vetoquinol, and Royal Canin North America
