The global Canine Atopic Dermatitis Treatment Drugs market is a highly specialized market catering to the soaring demand for treatments and drugs used for atopic dermatitis in canines. Canine atopic dermatitis refers to chronic, inflammatory and pruritic allergic skin disease affecting dogs. Drugs used include antihistamines, glucocorticoids, immunomodulators and others that target symptoms such as inflammation, itching and infection. The market has seen increasing demand due to the rising rates of skin allergies in dogs caused by factors like pollution and diet changes.
The market is currently valued at US$ 1196.1 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period of 2024 to 2031.
Growing pet adoption, increasing pet care expenditure and rising awareness about pet health are some of the key factors driving market growth. Canine Atopic Dermatitis Treatment Drugs Market Demand causes severe itching, inflammation and infections if left untreated. Treatment drugs help control symptoms and improve quality of life for affected dogs.
Key Takeaways
Key players operating in the Canine Atopic Dermatitis Treatment Drugs market 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.
The global market is witnessing increasing demand driven by rising pet adoption rates worldwide along with growing expenditures on pet healthcare. Developed regions especially North America and Europe account for the largest shares currently due to high pet ownership and awareness levels.
The market is also witnessing expansion into developing regions of Asia Pacific and Latin America backed by growing pet humanization trends, increasing middle class populations and economic growth. Regional players are also launching new and affordable drugs to cater to the unmet needs of pet owners.
Market key trends
One of the key trends driving growth in the Canine Atopic Dermatitis Treatment Drugs market is the increasing instances of skin allergies and atopic dermatitis in dogs globally. Factors like pollution, changing climate, Processed pet food and limited outdoor access are known to aggravate the problem. Drug makers are developing novel therapies targeted at the underlying causes in addition to symptomatic relief. Oral immunotherapy and biologicals are emerging as promising treatment avenues to better manage canine atopic dermatitis over the long term.
Porter’s Analysis
Threat of new entrants: The threat is moderate due to high capital requirement for R&D and manufacturing. However, new opportunities for new molecules with novel mechanisms of action might encourage new players to enter.
Bargaining power of buyers: Buyers bargaining power is high due to availability of generics and alternative treatment options. Price sensitivity is high for buyers as it is an chronic therapy.
Bargaining power of suppliers: Suppliers have moderate power due to availability of alternative suppliers for active pharmaceutical ingredients (API) and excipients. However, suppliers of proprietary molecules have high bargaining power.
Threat of new substitutes: The threat is moderate as new drug classes like biologics are emerging with better efficacy and safety profiles.
Competitive rivalry: Very intense between major players with frequent new product launches.
Geographical Regions
North America region will account for largest share in canine atopic dermatitis treatment drugs market by 2031 owing to increased pet ownership, growing pet healthcare expenditure and presence of major branded drugs manufacturers. The United States will dominate the North America market. Europe is the second most lucrative region mainly driven by Germany, France and United Kingdom. Asia Pacific region will exhibit fastest growth led by China, Japan and India due to rising pet adoption and increasing affordability over the forecast period.
The fastest growing region for canine atopic dermatitis treatment drugs market will be Asia Pacific between 2024-2031. Factors such as rising pet adoption, growing pet healthcare expenditure, increasing prevalence of atopic dermatitis in dogs, expansion of regional players, economic development and increasing affordability will drive the growth in Asia Pacific region, especially in emerging countries such as China, Japan and India. Multinational companies are also focusing on Asia Pacific region realizing its future growth potential.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it