London, April 16, 2024 (GLOBE NEWSWIRE) -- Global pet allergy treatment market is expected to value at US$3.8 Bn in 2031 from US$2.2 Bn in 2024. The market likely to secure a CAGR of 8.12% during the forecast period from 2024 to 2031.
The growing trend of pet humanization and companionship is expected to drive the demand for pet allergy treatments. As more people consider pets as family members, they are likely to seek effective solutions to manage their pets' allergies and improve their quality of life.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2023 | |
| Forecast Year | 2024 – 2031 | |
| Market Size in 2024 | US$2.2 Bn | |
| Estimated Market Size in 2031 | US$3.8 Bn | |
| CAGR | 8.12% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The pet allergy treatment market has been experiencing steady growth over the years, driven by various factors such as the increasing prevalence of pet allergies, rising pet ownership rates, advancements in veterinary medicine, and growing awareness about pet health among owner
There is a growing emphasis on preventive healthcare measures for pets, including regular check-ups, vaccinations, and allergy screenings. Pet owners are increasingly proactive in identifying and addressing potential health issues, including allergies, at an early stage.
Increasing awareness about pet allergies, their causes, symptoms, and treatment options, is expected to drive market growth further. the pet allergy treatment market is poised for continued growth, driven by factors such as increasing pet ownership, technological advancements, and growing awareness about pet health.
Market players need to focus on innovation, regulatory compliance, and consumer education to capitalize on the opportunities in this evolving market landscape.
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Key Research Insights
- Antihistamines and corticosteroids continue to dominate the symptomatic management of pet allergies.
- Allergen immunotherapy remains a cornerstone in per allergy treatment market.
- Europe stands out as a significant market for pet allergy treatment.
- North America dominates the pet allergy treatment market.
Insights into Segmentation Analysis
Antihistamines and Corticosteroids Continue to Dominate
- Antihistamines and corticosteroids continue to dominate the symptomatic management of pet allergies. These drugs provide rapid relief from itching, sneezing, and other allergic symptoms by blocking histamine receptors or suppressing inflammation.
- The availability of newer generation antihistamines with improved safety profiles and once-daily dosing regimens has increased patient adherence.
- Concerns regarding long-term corticosteroid use, including systemic side effects and potential for rebound symptoms upon discontinuation, highlight the need for alternative treatment options.
Allergen Immunotherapy Remains a Cornerstone in Pet Allergy Treatment
- Allergen immunotherapy, including subcutaneous and sublingual formulations, remains a cornerstone in pet allergy treatment. These products work by exposing patients to gradually increasing doses of allergens, desensitizing their immune systems.
- With advancements in formulation and delivery methods, such as fast-dissolving sublingual tablets, AIT has seen increased acceptance and compliance among patients.
- The growing demand for personalised medicine has driven the development of tailored allergen mixes, enhancing efficacy and minimizing adverse reactions.
Key Report Highlights
- The increasing trend of pet ownership, impelled by factors such as urbanization, loneliness mitigation, and lifestyle changes, drives the demand for pet allergy treatments.
- The prevalence of pet allergies, both in pets themselves and in humans allergic to pets, is on the rise.
- Ongoing research and development efforts lead to the discovery of novel treatment modalities and therapeutic approaches for pet allergies.
Insights into Regional Analysis
North America Dominates the Pet Allergy Treatment Market
- North America dominates the pet allergy treatment market due to several factors.
- The region has a significant pet ownership rate, with dogs and cats being the most common pets.
- This high ownership contributes to a substantial demand for allergy treatments.
- The region has a well-established healthcare infrastructure and a high level of awareness regarding pet allergies, leading to increased diagnosis and treatment.
Europe Stands Out as a Significant Market for Pet Allergy Treatment
- The region has a substantial pet ownership culture, particularly of cats and dogs.
- This increasing prevalence of pets contributes to the increasing demand for allergy treatment options.
- Europe boasts advanced healthcare systems and widespread awareness about pet allergies among both pet owners and healthcare professionals.
Key Companies Profiled in the Global Pet Allergy Treatment Market
- Zoetis Animal Healthcare
- Vetoquinol S.A.
- Dechra Pharmaceuticals PLC
- Norbrook Laboratories Limited
- Elanco Animal Health Incorporated
- Virbac SA
- Bayer AG
- IDEXX Laboratories, Inc.
- Boehringer Ingelheim GmbH
- Phirbo Animal Health
- PetIQ, Inc.
- Ceva Santé Animale
- Merck and Co. Inc. (US)
- Vetiquinol SA
Global Pet Allergy Treatment Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031 - (By Drug Class Coverage, By Indication Coverage, By Pet Coverage, By Route of Administration Coverage, By Distribution Channel Coverage, By Geographical Coverage and By Company): https://www.fairfieldmarketresearch.com/report/pet-allergy-treatment-market
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