Pet Allergy Treatment Market Size
Study Period | 2021 - 2029 |
Market Size (2024) | USD 2.20 Billion |
Market Size (2029) | USD 2.9 Billion |
CAGR (2024 - 2029) | 5.97 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Pet Allergy Treatment Market Analysis
The Pet Allergy Treatment Market size is estimated at USD 2.20 billion in 2024, and is expected to reach USD 2.9 billion by 2029, growing at a CAGR of 5.97% during the forecast period (2024-2029).
Pets, especially dogs, can be allergic to food, fleas, and airborne allergens like pollen, dust mites, and mold. This can lead to respiratory issues like coughing, sneezing, and wheezing. The key driving factors are the rising prevalence of atopic dermatitis, growing allergy awareness, rising adoption of pet health insurance, and rising pet ownership, increasing the potential for the pet allergy treatment market.
In recent years, the prevalence of atopic dermatitis among the canine population has increased and is expected to enhance the market's growth. For instance, according to data published in the Journal of Veterinary Medicine in February 2024, atopic dermatitis, a chronic allergic skin condition, is prevalent in dogs, impacting 20-30% of the canine population. This makes it the third most common health issue for dogs, impacting a much larger group of those experiencing skin problems. This widespread condition translates to a significant market demand for effective allergy treatments, fueling the growth of the pet allergy treatment market.
The market for pet allergy treatment is expected to continue expanding as the investment in innovative therapeutics for allergic disorders in animals is increasing. For instance, according to a study published in the Journal of Veterinary Sciences in November 2023, epicutaneous immunotherapy (EPIT) can revolutionize compliance with its painless and easy-to-use application directly on the skin. Therefore, innovation-enhancing treatments such as EPIT show a promising alternative that drives the market's growth by offering more precise and safe solutions for canine atopic dermatitis treatment.
Manufacturers are recognizing the importance of developing products and are highly focused on regulatory approvals to expand their product offerings. For instance, in June 2023, Zoetis Inc. secured FDA approval for Apoquel Chewable (oclacitinib chewable tablet). This innovative new treatment offers a convenient and potentially more compliant option for managing allergic dermatitis and atopic dermatitis in dogs twelve months of age and older.
Thus, the pet allergy treatment market is fueled by factors such as the soaring popularity of pet ownership, particularly dogs, creating a larger pool of animals potentially triggering allergies and approval of new products. However, limited accessibility, affordability, and regulatory hurdles are expected to challenge the market's growth.
Pet Allergy Treatment Market Trends
The Dogs Segment is Expected to Witness Significant Growth During the Forecast Period
The dog segment in the pet allergy treatment market is expected to grow in the next five years due to the increasing number of dog adoptions, growing awareness of pet health insurance, and a proportional increase in the prevalence of pet allergies.
Over the last few years, there has been a huge increase in adoptions of pets, especially dogs. Dogs are preferred more than any other pet animals globally. For instance, according to the 2023-2024 American Pet Products Association (APPA) National Pet Owners Survey, approximately 70% of households in the United States have pets, accounting for 86.9 million households. In addition, dogs live in 65.1 million households, while cats live in 46.5 million households, respectively. The surge in pet ownership, particularly of dogs, has directly influenced the pet allergy treatment market. With more households experiencing pet-related allergies, the demand for effective treatments is on the rise. As pet adoption rates continue to climb, the pet allergy treatment market is poised for sustained growth.
Moreover, pet owners are increasingly turning to insurance to manage the costs associated with their pets' health needs, including treatments for allergies. For instance, in April 2024, a report from the North American Pet Health Insurance Association (NAPHIA) stated that dog accident and illness premiums average USD 640 annually or USD 53 per month, compared to USD 387 annually or USD 32 per month for cats. The higher cost of premiums for dogs reflects the greater demand for insurance coverage, which is often driven by the need to manage the costs of treating common conditions like pet allergies. Therefore, this factor is expected to boost the market's growth during the forecast period.
Therefore, the rising popularity of dog ownership and increased focus on pet health insurance for dogs are likely to contribute to the segment's growth during the forecast period.
North America is Expected to Dominate the Pet Allergy Treatment Market
North America's leading position in the pet allergy treatment market is mostly due to the increase in pet ownership, the development of novel therapies, the adoption of pet health insurance, and rising advancements in diagnostic approaches, which are expected to drive the market's growth.
The pet care landscape is significantly shifting, increasing pet health insurance and ownership. For instance, according to data published by the North American Pet Health Insurance Association (NAPHIA) in April 2024, around 6.25 million pets were insured in North America by the end of 2023, a surge of 16.7% compared to 2022. The latest report from NAPHIA stated that pet insurance premium volume in the United States amounted to USD 3.2 billion in 2023. Therefore, the rising trend of insuring pets in the country is expected to boost the market's growth during the forecast period.
Furthermore, the prevalence of pet allergies has become a growing concern among pet owners in North America, leading to a heightened focus on effective treatment options. For instance, a report published by Trupanion Inc. in April 2024 reported a 42% increase in allergy claims among its insured pets in North America between 2019 and 2023. This data, gathered through Trupanion's truInsights initiative, highlights the growing prevalence of allergies as a major health concern for pets. The Y-o-Y increase in allergy-related claims, ranging from 6% to 14%, underscores the variability and continued rise in allergy cases. Thus, an increasing number of pet owners seeking medical interventions for their pets' allergy-related health issues is poised for continued growth in the region.
In addition, Canada has witnessed a notable increase in pet ownership, with dogs being popular companions. As a result, there has been an increase in demand for pet allergy treatment in the market. For example, according to data published by the Canadian Animal Health Institute in May 2023, the population of dogs and cats increased from 7.7 million to 7.9 million and from 8.1 million to 8.5 million from 2020-2022, respectively, in Canada. Thus, the increasing pet ownership in Canada is expected to drive the market's growth in the region.
Due to factors such as increasing pet health insurance and growing adoption of pet ownership, North America is leading in the pet allergy treatment market.
Pet Allergy Treatment Industry Overview
Key players in the pet allergy treatment market invest heavily in clinical research and development to expand their product lines. The key strategies market participants adopt to expand their footprint are agreements, mergers, higher investments, and collaborations with other organizations. Major players in the market include Zoetis Animal Healthcare, Merck & Co. Inc., Boehringer Ingelheim International GmbH, Elanco, Provetica LLC, Vetoquinol, Neogen Corporation, Phibro Animal Health Corporation, Dechra, and Virbac.
Pet Allergy Treatment Market Leaders
-
Zoetis Animal Healthcare
-
Boehringer Ingelheim International GmbH
-
Elanco
-
Neogen Corporation
-
Provetica LLC
*Disclaimer: Major Players sorted in no particular order
Pet Allergy Treatment Market News
- April 2024: Boehringer Ingelheim expanded dog parasite protection options in India with NexGard SPECTRA (afoxolaner and milbemycin oxime). This new addition to the NexGard product line follows its approval by the Central Drugs Standard Control Organization (CDSCO).
- March 2023: Provetica LLC got Food Drug and Administration (FDA) approval for MODULIS for cats, the first generic cyclosporine oral solution for managing allergic dermatitis in companion felines.
Pet Allergy Treatment Market Report - Table of Contents
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 Increase Awareness of Animal Allergies
4.2.2 Increase in Pet Ownership
4.2.3 Rising Adoption of Pet Health Insurance
4.3 Market Restraints
4.3.1 Limited Development of Therapies
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)
5.1 By Drug Class
5.1.1 Antihistamines
5.1.2 Corticosteroids
5.1.3 Immunotherapy
5.1.4 Other Drug Classes
5.2 By Pet Type
5.2.1 Dogs
5.2.2 Cats
5.2.3 Rabits
5.2.4 Other Pet Types
5.3 By Route of Administration
5.3.1 Oral
5.3.2 Injectable
5.3.3 Topical
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Zoetis Animal Healthcare
6.1.2 Merck & Co. Inc.
6.1.3 Boehringer Ingelheim International GmbH
6.1.4 Elanco
6.1.5 Provetica LLC
6.1.6 Vetoquinol
6.1.7 Neogen Corporation
6.1.8 Phibro Animal Health Corporation
6.1.9 Dechra
6.1.10 Virbac
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Pet Allergy Treatment Industry Segmentation
Pets can be allergic to a variety of substances known as allergens, which include plant particles and other airborne or food-borne substances. Allergens are substances inhaled or absorbed by the skin, respiratory system, or gastrointestinal tract. These reactions result in skin redness, swelling, and itching.
The pet allergy treatment market is segmented into drug class, pet type, route of administration, and geography. By drug class, the market is segmented into antihistamines, corticosteroids, immunotherapy, and other drug classes (nasal irrigation, decongestants, etc.). By pet type, the market is segmented into dogs, cats, rabbits, and other pet types (rodents, horses, etc.). By route of administration, the market is segmented into oral, injectable, and topical. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The report also offers the market size and forecasts for 17 countries across the region. For each segment, the market sizing and forecasts were made on the basis of value (USD).
By Drug Class | |
Antihistamines | |
Corticosteroids | |
Immunotherapy | |
Other Drug Classes |
By Pet Type | |
Dogs | |
Cats | |
Rabits | |
Other Pet Types |
By Route of Administration | |
Oral | |
Injectable | |
Topical |
Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Pet Allergy Treatment Market Research FAQs
How big is the Pet Allergy Treatment Market?
The Pet Allergy Treatment Market size is expected to reach USD 2.20 billion in 2024 and grow at a CAGR of 5.97% to reach USD 2.9 billion by 2029.
What is the current Pet Allergy Treatment Market size?
In 2024, the Pet Allergy Treatment Market size is expected to reach USD 2.20 billion.
Who are the key players in Pet Allergy Treatment Market?
Zoetis Animal Healthcare, Boehringer Ingelheim International GmbH, Elanco, Neogen Corporation and Provetica LLC are the major companies operating in the Pet Allergy Treatment Market.
Which is the fastest growing region in Pet Allergy Treatment Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Pet Allergy Treatment Market?
In 2024, the North America accounts for the largest market share in Pet Allergy Treatment Market.
What years does this Pet Allergy Treatment Market cover, and what was the market size in 2023?
In 2023, the Pet Allergy Treatment Market size was estimated at USD 2.07 billion. The report covers the Pet Allergy Treatment Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Pet Allergy Treatment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Pet Allergy Treatment Industry Report
Statistics for the 2024 Pet Allergy Treatment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pet Allergy Treatment analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.