Companion Animal Ear Infection Treatment Market Growth & Trends
The global companion animal ear infection treatment market size is expected to reach USD 1022.7 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.2% from 2023 to 2030. The increasing prevalence of ear infections in companion animals is one of the factors responsible for the market growth. An ear infection is a second-most common condition in canines. Otitis Externa is a common disorder and one of the top reasons for increase dvet visits.
The COVID-19 pandemic acted as a catalyst for rapid business and economic changes. Moreover, popular trends, such as “bring your pet to work”, are also supporting the market growth. Companies operating in this market are widely accepting different approaches to treat otitis in companion animals. For instance, in April 2020, VirbacintroducedEasotic, a prescription medicine specified for the topical treatment of otitis externa in canines.
The rising number of pet owners and awareness about animal health and hygiene will boost the market growth. For instance, as stated by the American Pet Products Association’s National Pet Owners Survey 2019–2020, 63.4 million U.S. households own dogs. Thus, increasing pet ownership along with growing research & development activities in animal health accelerates the market growth. For example, Dechra Pharmaceuticals spent USD 40.31 million (£28.4 million) on R&D in 2020, while USD 35.62 million (£28.4 million) in 2019. Moreover, the humanization of pets further contributes to market growth.
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Companion Animal Ear Infection Treatment Market Report
Companion Animal Ear Infection Treatment Market Report Highlights
- The anti-bacterial product segment accounted for the largest revenue share in 2022 and will retain the leading position throughout the forecast period
- This growth can be credited to the rising incidence of ear diseases in pets associated with the bacterial infection
- The topical segment is anticipated to have significant growth owing to the availability of a wide range of products and high demand for topical treatments
- The cats animal type segment is estimated to register the fastest CAGR over the forecast period owing to increased concerns regarding the health and hygiene of cats
- The otitis externa disease segment is projected to register considerable growth as it is one of the most common and recurrent problems
