Market Trends of Companion Animal Ear Infection Treatment
Dogs Segment is Expected to Hold a Significant Growth Rate in the Companion Animal Ear Infection Treatment Market
- The rising prevalence of ear infections among dogs and increasing companion animal ownership drive segment growth. For instance, as per an article published by the National Center for Biotechnology Information. (NCBI) in April 2022, Cutibacterium acnes (previously known as Propionibacterium acnes), Staphylococcus pseudintermedius, and Streptococcus spp are the top three most dominant bacteria found in dog ears. Also, Otitis externa, otitis media, and pineal diseases are commonly seen in companion dogs. Hence, such research studies indicate the high prevalence of companion ear infections that must be addressed, thereby driving market growth.
- Furthermore, the prominent players are actively participating in launching various drugs for treating infections in dogs, driving the segment growth. For instance, in September 2022, Vetoquinol, United States, launched Simplera (florfenicol, terbinafine, mometasone furoate) Otic Solution for Dogs. It is a single-dose treatment for canine otitis externa associated with susceptible yeast strains (Malassezia pachydermatis) and bacteria (Staphylococcus pseudintermedius).
- Moreover, in January 2023, W.F. Young introduced its new Silver Honey Rapid Ear Care line for pets, joining its Silver Honey family of products, including Hot Spot & Wound Care Spray Gel and Ointment. Silver Honey's Rapid Ear Care offers ear care products to treat ear infections effectively and naturally at home using Manuka honey and MicroSilver BG in dogs. Hence, the rising number of such product launches by key players is also augmenting segment growth.
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North America is Expected to Dominate the Market
- The geographical analysis of the companion animal ear infection market shows that North America holds a major market share in the global market. This is due to the rising pet adoption and the increasing per capita animal healthcare expenditure. Additionally, the rise in various ear infections amongst animals has been identified as the primary factor fuelling market growth.
- According to the 2023-2024 APPA National Pet Owners Survey, approximately USD 136.8 billion was spent on pets in the United States in 2022 and around USD 123.6 billion in 2021. As per the same source, the United States spent around USD 35.9 billion on vet care products and USD 31.5 billion on pet supplies and OTC medicines in 2022. Thus, the increasing spending on pets in the United States is predicted to drive the studied market growth during the forecast period.
- Furthermore, there is an increasing adoption of pet insurance in the country. As per the North American Pet Health Insurance Association (NAPHIA), 4.41 million pets were insured in North America at the end of 2021. Additionally, as per NAPHIA, the average monthly cost of pet insurance is USD 50 for dogs and USD 28 for cats for plans that cover accidents and illnesses.
- Thus, due to the abovementioned factors, the market in North America is expected to witness significant growth over the forecast period.
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