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Companion Animal Ear Infection Treatment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 111 Pages I Mordor Intelligence
The companion animal ear infection treatment market is expected to register a CAGR of more than 6% during the forecast period (2022-2027).
The COVID-19 pandemic is an unprecedented health concern and has significantly impacted the companion animal ear infection treatment market. The Health for Animals, Global Animal Health Association's survey titled 'Survey of Pet Owners Shows Impacts of COVID-19 Pandemic on Veterinary Care' published in October 2020 reported that globally, nearly about 27% of pet owners have delayed or avoided contacting their veterinary practice since the start of the COVID-19 pandemic. Additionally, it reported that more than 1 in 10 pets missed essential, routine treatments like vaccines and flea, tick, or worm treatments due to the pandemic. Such disruption in the treatment of animal health had a short-term negative impact on the market. However, with the pandemic still in its growth phase, a surge in pet adoption was observed that indicates a positive impact on the market. For instance, according to the People's Dispensary for Sick Animals (PDSA) PAW report published in June 2021, 2 million people in the United Kingdom acquired pets between March 2020 to May 2021. This has positively impacted the market growth during the COVID-19 pandemic.
The market's growth can be attributed to the factors such as the increasing prevalence of ear infections in companion animals and growing pet and animal healthcare services.
The increasing prevalence of ear infections in companion animals drives the demand for ear infection treatment. For instance, as per a September 2021 update by the Royal Veterinary College, United Kingdom, the research shows that dogs aged over one year are at higher risk of ear infection than those under one. In addition, as per a January 2020 published article titled, "The Otic Microbiota and Mycobiota in a Referral Population of Dogs in the Eastern USA with Otitis Externa," canine otitis externa (OE) is a common inflammatory disease that is frequently complicated by secondary bacterial and yeast infections and out of 40 client-owned dogs, 30 had otitis externa. Also, according to the European Pet Food Industry: Facts and Figures 2020 (FEDIAF) estimates, there were around 107,00,000 in Germany. Also, according to People's Dispensary for Sick Animals, 2021 findings revealed that 51% of the United Kingdom (UK) adults own a pet, and 26% of UK adults have a dog, with an estimated population of 9.6 million pet dogs. Thus, the statistics indicate that the burden of ear infections in dogs can increase with the growing pet population, thereby increasing the demand for ear infection treatment products. Such studies indicate the growing burden of ear infections in companion animals, thereby boosting the demand for ear infection treatment.
However, the lack of pet care and the side effects of ear infection treatment in companion animals hinder the market growth.
Companion Animal Ear Infection Treatment Market Trends
Dogs Segment is Expected to Hold a Significant Market Share in the Companion Animal Ear Infection Treatment Market
The dog segment is expected to hold a significant market share by animal type. The major factors fueling the segment's growth are the increasing adoption of cats worldwide and the growing prevalence of ear infections in dogs.
As per a September 2021 update by the Royal Veterinary College, United Kingdom, one in every 14 dogs in the United Kingdom suffers from ear infections every year, indicating that out of 22,333 dogs, 1,631 dogs (7.3%) had an ear infection. The source also reports that sixteen breeds have an increased risk of ear infection compared with crossbred dogs.
In addition, several market players are engaged in implementing strategic initiatives, thereby contributing to market growth. For instance, in January 2020, Elanco Animal Health Incorporated signed an agreement to divest Osurnia, a treatment for otitis externa in dogs, to Dechra Pharmaceuticals PLC for USD 135 million in an all-cash deal. Moreover, in April 2020, Virbac Corporation reported the availability of EASOTIC (hydrocortisone aceponate, miconazole nitrate, gentamicin sulfate) Otic Suspension for Dogs, a prescription treatment for canine otitis externa.
Thus, the market is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
The United States is expected to retain its significant market share within North America, owing to rising pet adoption and the increasing per capita animal healthcare expenditure. Additionally, the rise in the prevalence of various animal diseases and injuries has been identified as the major factor fueling the market growth.
According to the 2021-2022 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), around 70% of United States households own a pet, which equates to 90.5 million homes, including 45.3 million cats and 69 million dogs. The same source also reports that the annual expenditure on a routine visit for dogs accounts for USD 242, whereas it is 178 for cats in the country.
Moreover, growth in the pet population is expected to increase the demand for veterinary healthcare services and boost the overall expenditure on pets. According to the American Pet Products Association report, overall spending in the United States pet industry was USD 103.6 billion in 2020 and is expected to reach USD 110 billion by 2021. Veterinary care spending increased by 560% between 1994 and 2020.
Thus, the factors above mentioabovementioned factors are expected to witness significant growth over the forecast period.
Companion Animal Ear Infection Treatment Market Competitor Analysis
The companion animals ear infection treatment market is competitive, and a few companies are currently dominating the market. The key players have been engaged in various strategic alliances, acquisitions, mergers, and launches of advanced products to secure their position in the global market. These companies include Zoetis Inc., Elanco Animal Health Incorporated, Dechra Pharmaceuticals PLC, Merck & Co., Inc., and Virbac Corporation.
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 Increasing Prevalence of Ear Infection in Companion Animals
4.2.2 Growing Pet and Animal Healthcare Services
4.3 Market Restraints
4.3.1 Lack of Pet Care and Side Effects of Medications
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 (Market Size by Value - USD million)
5.1 By Product Type
5.1.1 Antibacterial
5.1.1.1 Aminoglycosides
5.1.1.2 Fluoroquinolones
5.1.1.3 Other Antibacterial Products
5.1.2 Antifungal
5.1.3 Corticosteroids
5.1.4 Other Product Types
5.2 By Disease Type
5.2.1 Otitis Externa
5.2.2 Otitis Media
5.2.3 Otitis Interna
5.3 By Animal Type
5.3.1 Dogs
5.3.2 Cats
5.3.3 Other Animal Types
5.4 By Mode of Administration
5.4.1 Topical
5.4.2 Oral
5.4.3 Otic
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Italy
5.5.2.5 Spain
5.5.2.6 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 South Korea
5.5.3.6 Rest of Asia-Pacific
5.5.4 Rest of World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Vetoquinol
6.1.2 Zoetis Inc.
6.1.3 Elanco Animal Health Incorporated
6.1.4 Dechra Pharmaceuticals PLC
6.1.5 Merck & Co, Inc.
6.1.6 Virbac Corporation
6.1.7 Pet King Brands, Inc.
6.1.8 Nusentia
6.1.9 Tropiclean
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