According to the new market research report “Veterinary Skin Care Products- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Veterinary Skin Care Products market size is projected to reach USD 2.54 billion by 2030, at a CAGR of 8.7% during the forecast period.
Veterinary skin care products refer to a wide range of specialized products designed to support and maintain the health of animals’ skin and coat. These products are formulated to address various dermatological conditions, promote skin hydration, provide relief from skin irritations, and improve the overall well-being of pets and livestock.
- Global Veterinary Skin Care Products MarketSize(US$ Million), 2019-2030
- Source: QYResearch, "Veterinary Skin Care Products- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”Global Veterinary Skin Care Products Top18 Players Rankingand Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "Veterinary Skin Care Products- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Veterinary Skin Care Products include Zoetis, Elanco, Virbac, Ceva, Merck & Co, Neogen Corporation, Bioiberica, Dechra, Dermoscent, VetriMax Veterinary Products, etc. In 2023, the global top 10 players had a share approximately 57.0% in terms of revenue.
Market Drivers:
Increasing Pet Ownership: As the number of pet owners continues to rise, there is a greater demand for veterinary skin care products to address various skin conditions and allergies in pets.
Focus on Pet Health and Well-being: Pet owners are increasingly focused on the health and well-being of their animals, leading to a growing demand for high-quality skin care products specifically designed for pets.
Premiumization and Specialization: There is a trend towards premium and specialized skin care products for pets, including natural and organic formulations, which offers growth opportunities for companies offering such products.
E-commerce and Online Retailing: The growth of e-commerce has made it easier for pet owners to access a wide range of veterinary skin care products, contributing to market expansion.
Veterinary Dermatology Services: The increasing availability of specialized veterinary dermatology services is creating a parallel demand for effective skin care products to support treatment and management.
Restraint:
Competition: The market for veterinary skin care products is becoming increasingly competitive, making it challenging for new entrants to establish themselves and for existing companies to maintain market share.
Pricing Pressure: There is a risk of pricing pressure due to the presence of both branded and generic products, as well as the influence of cost-conscious consumers and veterinary professionals.
Safety and Efficacy Concerns: Ensuring the safety and efficacy of veterinary skin care products is paramount, as any adverse events or lack of efficacy can damage a brand’s reputation and lead to product recalls.
Limited Awareness: Some pet owners and even veterinary professionals may have limited awareness of the availability and benefits of veterinary skin care products, necessitating education and marketing efforts.
Economic Factors: Economic downturns or fluctuations can affect consumer spending on pet care products, potentially impacting the demand for veterinary skin care products.
Market Trend:
Therapeutic Shampoos and Conditioners: The development of therapeutic shampoos and conditioners tailored to address specific skin conditions in pets, such as allergies, infections, and dermatitis, is gaining traction.
Allergy Management: With the rise in pet allergies, there is a trend toward developing products that can help manage and alleviate skin-related allergies in animals, including hypoallergenic grooming products and supplements.
Personalized and Customized Solutions: There is a shift towards personalized and customized skin care solutions for pets, with some companies offering tailored products based on individual pet’s skin conditions and sensitivities.
Product Innovation and Technology Integration: Ongoing product innovation, including the integration of technological advancements such as microencapsulation for targeted delivery of active ingredients, is contributing to the development of more effective veterinary skin care products.
Enhanced Distribution Channels: Companies are leveraging e-commerce platforms and online retailing to expand their reach, making veterinary skin care products more accessible to a wider audience of pet owners.
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