Animal Fungal Treatment Market size is expected to reach USD 3.24 billion by the end of 2037, growing at a CAGR of 6.89% during the forecast period i.e., 2025-2037. In the year 2024, the industry size of animal fungal treatment was over USD 1.36 billion. The demand for foods produced from animals, such as meat, dairy products, and eggs, has been acknowledged to have increased recently. The FAO estimates that, by 2050, they will need to produce 60% more food to meet the dietary needs of 9.3 billion people on Earth. If people tried to do it by farming as normal, the resources we have would be over-utilized.
Fungal infections, which are normally associated with animals, continue to occur in people mainly as a result of human activity. Due to increased mobility and development and changes in the surrounding environment, emerging fungal infections are on the rise and need to be closely monitored. If there is a known species switching hosts or if the number of cases increases, people are known to be infected with diseases linked to animals.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025 - 2037 |
|
CAGR |
6.89% |
|
Base Year Market Size (2024) |
USD 1.36 billion |
|
Forecast Year Market Size (2037) |
USD 3.24 billion |
|
Regional Scope |
|
Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy)
Based on the distribution channel, the hospital segment is anticipated to cross USD 1.4 billion by the end of 2037. Hospital pharmacies are necessary in the field of animal fungus treatment as they offer access to specialized medicines, expert advice, and innovative therapeutic methods for complex patients. Hospital pharmacists are the major source of inpatient treatment, as they offer immediate and extensively advanced antifungal medicinal products. Another factor contributing to the growth of this market segment is the availability of specialty medicinal products. Hospital pharmacies stock a wide range of antifungals, including injectables, IV formulations, and those that are not readily available in the field. In these pharmacies, veterinarians and pharmacists also provide professional advice on the selection of medicines, dosage, or potential interactions in difficult situations.
Route of Administration (Oral, Tropical, Parenteral)
Based on the route of administration, the oral segment is expected to surpass USD 1.28 billion by the end of 2037. Compared to injections or skin treatments, administration by mouth is usually easier and more manageable for both the animal and its owner. Furthermore, the tablet formulation of oral medicine provides flexibility in the dose and ease of administration offering convenience for the animals to consume it easily by crushing it, swallowing it, or mixing it with other food products. For example, for the treatment of ringworm in dogs and cats itraconazole, an established wide-spectrum antifungal is usually administered orally as a tablet. In addition, oral medicines are often more affordable than other forms of treatment and can be accessed to a wider range of pet owners. Different brands of itraconazole tablets are marketed by companies such as Merck Animal Health and Zoetis, which contribute significantly to the animal fungal treatment market
Our in-depth analysis of the global market includes the following segments:
|
Drug Type |
|
|
Route of Administration |
|
|
Distribution Channel |
|
North American Market Forecasts
The animal fungal treatment market in the North America region is projected to reach USD 1.19 billion during the studied period. In North America, skin diseases caused by fungi are more common in animals. The availability of specialist care has led to an increase in demand for specific dermatology antifungal medicines. In addition, advances in antifungal medicinal products have been achieved by the region's robust veterinary research and development initiatives. Due to the development of new and improved formulations, veterinarians have more options for treating them. In addition, the trend of pet humanization, where animals are viewed as family members, is increasing in North America. Escalating demand for best dermatology antifungal treatment to cure skin conditions driven by willingness of pet owners to make investment in health and wellness of their pets.
European Market Statistics
The animal fungal treatment market in the Europe region is set to grow significantly reaching a growth of USD 0.80 billion by the end of predicted period. The need for animals in agriculture is the reason why there is an increased demand for animal fungal treatments. In order to meet the growing population, agricultural enterprises in this region are having difficulty responsibly producing a sufficient quantity of food. Demand for high quality, safe and effective protein animal products will be significantly increased over the coming ten years as a result of an increase in domestic livestock population in this region. International trade in animals and animal products increases the risk of new outbreaks and infectious fungal infections continue to have a negative impact on the production of farm animals. In the detection, surveillance, management and ultimate eradication of animal diseases and disorders, antifungal medicinal products may be of significant assistance. In 2018, around 3.5 million sheep and goats, 4.3 million head of cattle as well as 1 000 tons of poultry were traded across EU countries.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?