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Veterinary Dermatology Drugs Market Set to Surge with Strong CAGR by 2024, Insights on Emerging Trends | ||
By: PR Newswire Association LLC. - 08 Feb 2024 | Back to overview list |
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DUBLIN, Feb. 7, 2024 /PRNewswire/ -- The "Veterinary Dermatology Drugs Global Market Report 2024" has been added to ResearchAndMarkets.com's offering. The global veterinary dermatology drugs market is experiencing a robust growth trajectory, according to a comprehensive new study. Industry analysis indicates a projected rise from $7.75 billion in 2023 to $8.67 billion in 2024, advancing at a compound annual growth rate (CAGR) of 11.9%. Underpinning this surge is an interplay of factors including heightened pet healthcare awareness and an uptick in veterinary spending. The market report delves into the principal forces propelling growth in this niche sector. The pervasiveness of dermatological disorders in animals, evolving patterns in pet care, and innovations in veterinary medication are pivotal elements fueling expansion. The uptick in pet ownership—a result of heightened responsibility towards animal well-being—has emerged as a primary catalyst in the market's progression. With North America maintaining the largest regional share in 2023, the spotlight is now shifting to Asia-Pacific, forecasted to emerge as the fastest-growing region. By 2028, the veterinary dermatology drugs market is anticipated to escalate to $13.42 billion at a CAGR of 11.5%, buoyed by factors such as comprehensive pet insurance uptake and increasing pet healthcare literacy among consumers.
Corporate Synergies and Expansion Efforts Strategic partnerships and acquisitions constitute significant steps undertaken by market players to consolidate their position and diversify their portfolios. Recent industry activity demonstrates an unwavering commitment to fostering innovative solutions to pressing dermatological challenges in veterinary medicine. The study provides a granular examination of market segments based on the nature of veterinary dermatology drugs—antifungal, antibacterial, and antiparasitic. These segments cater to a wide array of indications in animals, from parasitic infections to allergic reactions, across multiple distribution channels including retail and online platforms. This report illuminates the integral components of the veterinary dermatology drugs market, furnishing a thorough analysis of current patterns and prospective future developments. Industry professionals, stakeholders, and strategists will find this an indispensable resource, offering direction for informed decision-making and strategic planning within the veterinary healthcare ecosystem. Key Markets Covered:
Companies Profiled
For more information about this report visit https://www.researchandmarkets.com/r/nsfg2j About ResearchAndMarkets.com
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