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Report
Canine Atopic Dermatitis Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 123 Pages I Mordor Intelligence
The canine atopic dermatitis market was valued at approximately USD 741.47 million in 2021. It is expected to witness a revenue of USD 1207.00 million in 2027, recording a CAGR of 8.46% over the forecast period 2022-2027.
The impact of the COVID-19 pandemic on the canine atopic dermatitis market is expected to be significant. As per data from the Centers for Disease Control and Prevention, cats, dogs, and a few other types of animals are at potential risk of acquiring this virus. Several studies are still ongoing concerning the connection between animals and human transmission of this virus. However, governments have been taking measures to mitigate the supply of medicines. For instance, the European Medicines Agency issued guidance for companies responsible for veterinary medicines regarding adaptations to the regulatory framework, primarily to address the challenges faced during the pandemic. In July 2020, the Centers for Disease Control and Prevention recommended certain guidelines to veterinary professionals to treat companion animals during the COVID-19 pandemic. Additionally, as per a research article published in Humanities and Social Sciences Communications, 2020, the total number of online searches on the Yad4 website was 221,959 in April 2020 compared to 72,703 in April 2019. The study revealed the growing rate of dog adoption during the pandemic. Therefore, the canine atopic dermatitis market is expected to be impacted by the pandemic due to such factors.
Environmental factors are responsible for many allergies and diseases, which is expected to drive market growth. Increasing R&D activities are also expected to drive the market. For instance, in January 2020, Boragen partnered with one of the global leading animal health companies, exclusively for the R&D activity related to developing new treatment of canine atopic dermatitis. Also, as per the research article published in Veterinary Medicine and Science, 2020, Luteolin was evaluated to study the antioxidant effect in treating canine atopic dermatitis. The results revealed that Luteolin was able to drastically minimize the levels of IL?33, IL 1?, IL?6, and IL?8 and suggested that Luteolin is a promising agent in pharmacological treatment for canine atopic dermatitis. Hence, such factors are expected to boost the canine atopic dermatitis market during the forecast period.
Canine Atopic Dermatitis Market Trends
Monoclonal Antibody Segment Expected to Exhibit Significant Market Growth Over the Forecast Period
The monoclonal antibodies segment is expected to exhibit high market growth over the forecast period. The major attributable factors are the rising awareness of biotherapeutics and increasing product approvals.
Lokivetmab is a caninized anti-interleukin-31 (IL-31) mAb developed and licensed by Zoetis. It works by neutralizing soluble IL-31 released primarily by lymphocytes. Lokivetmab is effective against atopic dermatitis and allergic dermatitis in dogs. In 2019, Kindred Biosciences developed a monoclonal antibody, Interleukin-31, to treat canine atopic dermatitis. It completed its pilot study and showed a significant outcome. Hence, advancements in products are expected to influence the market positively.
As per a research article published in the Asian Journal of Epidemiology, 2020, the development of monoclonal antibodies is expected to show similar growth in veterinary medicine and aid in providing promising alternative strategies to overcome the obstacles of drug resistance, adverse effects of drugs, drug residue, and other complications associated with traditional veterinary drugs. Due to the aforementioned factors, therapeutic monoclonal antibodies are gaining importance in treating allergic conditions in dogs, which may boost market growth over the forecast period.
North America Expected to Hold Significant Market Share During the Forecast Period
North America is expected to be a dominant region for the canine atopic dermatitis market owing to increased spending in R&D activities, the high concentration of key market players, and the high rate of households with dog ownership in the region. According to the Animal Health Institute, the US animal health industry serves around 640 million food animals and 383 million companion animals.
As per the Canadian Animal Health Institute (CAHI), in 2018, there were nearly 8.2 million dogs in Canada. Over a decade, dog ownership has increased significantly in the country. As per the American Pet Products Association, nearly 63.4 million households in the US owned a dog in 2020. Dogs account for 63.4% of the pet share in the US, and owners spend an average of around USD 1,380 on pet dogs' basic expenses. Thus, high dog ownership in the region is expected to drive market growth.
The new product approvals and strategic alliances by key players are expected to boost the market studied. In October 2020, Elanco signed an agreement to acquire Bayer's Animal Health business in a transaction valued at USD 7.6 billion. Thus, the North American canine atopic dermatitis market is expected to register significant growth over the forecast period due to the aforementioned factors.
Canine Atopic Dermatitis Market Competitor Analysis
The canine atopic dermatitis market is moderately competitive, with a few players dominating the market. Some key players expected to dominate the canine atopic dermatitis market are Zoetis, Elanco, Virbac, Toray Industries Inc., Dechra Veterinary Products, Kindred Biosciences Inc., and Ceva. The companies adopt various strategies, such as mergers and acquisitions, partnerships, and collaborations, along with new product launches and research activities, to expand their market share.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Pollution Related to Allergens
4.2.2 Increasing Dog Ownership
4.3 Market Restraints
4.3.1 Usage of Off-label Drugs
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Treatment Type
5.1.1 Glucocorticoids
5.1.2 Immunosuppressants
5.1.3 Monoclonal Antibody
5.1.4 Other Treatment Types
5.2 By Route of Administration
5.2.1 Topical
5.2.2 Oral
5.2.3 Injectable
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Zoetis
6.1.2 Elanco
6.1.3 Virbac
6.1.4 Toray Industries Inc.
6.1.5 Kindred Biosciences Inc.
6.1.6 Ceva
6.1.7 Nextmune
6.1.8 Dechra Veterinary Products
6.1.9 Vetoquinol UK Ltd
6.1.10 Bioceltix
6.1.11 Phibro Animal Health Corporation
6.1.12 Bioiberica SAU
6.1.13 Bimeda Inc.
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