The canine flu therapeutics market is anticipated to flourish at an average CAGR of 4.1% between 2023 and 2033. The market is expected to hold a market share of USD 3.06 billion by 2033, while the market is likely to reach a value of USD 2.04 billion in 2023.
Canine flu is segmented into two types, they are h4N8 viruses and h4N2 (Seasonal influenza A) viruses.
| Attributes | Details |
|---|---|
| Canine Flu Therapeutics Market CAGR (2023 to 2033) | 4.1% |
| Canine Flu Therapeutics Market Size (2023) | USD 2.04 billion |
| Canine Flu Therapeutics Market Size (2033) | USD 3.06 billion |
Almost all dogs are susceptible to canine flu with direct contact or with respiratory discharges from infected dogs. The symptoms of illness are eye discharges, upper respiratory illness, reduced appetite, runny nose, cough, fever, and lethargy.
Moreover, the severity of canine flu ranges from no symptoms to terminal illness, resulting in pneumonia and sometimes death. Therefore, the canine flu therapeutics market is likely to have significant growth during the forecast period and more adoption by dog owners to reduce the spread of flu and infections.
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Several factors have been identified by the experts of FMI while analyzing the canine flu therapeutics in depth that are propelling the market growth at a moderate pace. They are as follows:
| Attribute | Details |
|---|---|
| Rising Diseases | A robust increase in the incidences of diseases with no specific treatment is likely to boost the canine flu therapeutics market expansion. |
| Innovation | The innovators in the market are getting the advantage of a monopolistic market as there is less competition across the globe. |
| Government Support | Increasing government support and rising research and development activities by manufacturers are likely to foster the growth of the canine flu therapeutics market in the coming years. |
| Cost-effectiveness | Rapid turnaround time and lower procedure cost than conventional methods fuel the demand for canine flu therapeutics in the canine influenza treatment market. |
Although key demand drivers have been identified in the canine flu therapeutics market, it is also witnessed that certain aspects are likely to hinder growth and further slow down the pace of expansion for the concerned market. The curbing factors are as follows.
| Attribute | Details |
|---|---|
| Lack of expertise | Lack of awareness and absence of trained professionals in developing and underdeveloped economies may impede the propulsion of the canine flu therapeutics market. |
| Vaccine Limitations | The global market for canine flu therapeutics is expected to be deterred by a limited number of vaccines available. |
| Countries | Revenue Share % (2022) |
|---|---|
| United States | 34.6% |
| Germany | 5.6% |
| Japan | 5.3% |
| North America | 37.6% |
| Europe | 25.3% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 4.2% |
| India | 3.4% |
| United Kingdom | 2.4% |
| Australia | 3.0% |
North America is projected to hold the highest market share of canine flu therapeutics and is anticipated to dominate the market during the forecast period. The North American region held 37.6% of the market share for canine flu therapeutics in 2022.
The market size in North America is expanding owing to factors like:
Europe is anticipated to hold the second-leading share in the global canine flue therapeutics market and has substantial growth over the forecast period. At present, the European region accounts for 25.3% of the total market share of canine flu therapeutics.
The marker size expansion in Europe can be attributed to the following factors:
| Category | Drug Class |
|---|---|
| Leading Segment | NSAIDs |
| Market Share (2022) | 57.8% |
| Category | Distribution Channel |
|---|---|
| Leading Segment | Veterinary Clinics |
| Market Share (2022) | 44.8% |
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New Entrants Ardently Performing in the Canine Flu Therapeutics Market
According to the research study conducted by FMI, the new entrants in the canine flu therapeutics market continually indulge in several collaborations and highly invest in research and development activities to provide more effective therapeutic solutions to dog owners, which would cure influenza faster and reduce the spread.
Zoetis is a start-up company lining up rival vaccines to fight a new strain of dog flu. The new vaccines don't protect against the previously known strain of dog flu, even though that illness is still circulating. So, dog owners who want total protection must get separate vaccines for H3N8 and H3N2.
Schering-Plough Animal Health is an innovation-driven, science-centered global healthcare company. Schering-Plough creates therapies that help save and improve lives worldwide through biopharmaceutical research and collaborations with partners. The company applies its research-and-development platform to human prescription and consumer products as well as to animal health products and is likely to impact the therapeutics market in the coming years.
Some other start-ups increasing in the market are Wiggles, Fidocure, Itch, Nexvet, Hesterbiosciences, and Gallant.
Market Players to Fuel Further Growth in the Canine Flu Therapeutics Market
The market is highly competitive due to the presence of several participants. The key players are adopting several growth strategies, and finding means to upgrade the vaccines that can cure influenza in animals faster and more cost-effectively.
Recent Developments
The United States, Japan, and China dominate the global Canine Flu Therapeutics market.
The Canine Flu Therapeutics market is forecast to register a CAGR of 4.1% through 2033.
From 2018 to 2022, the market grew at a CAGR of 4%
Technological advancement disrupts the current market trends, such as the development of new vaccines and antiviral drugs.
The global market size of Canine Flu Therapeutics to reach USD 2.04 billion by 2033.
| Estimated Size, 2024 | USD 42.1 billion |
|---|---|
| Projected Size, 2034 | USD 117.4 billion |
| Value-based CAGR (2024 to 2034) | 10.8% |
| Expected Base Year Value (2024) | USD 2.50 billion |
|---|---|
| Anticipated Forecast Value (2034) | USD 3.77 billion |
| Estimated CAGR (2024 to 2034) | 4.20% |
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Canine Flu Therapeutics Market
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