The global market for canine dilated cardiomyopathy drugs continues to exhibit an impressive growth trajectory, reflecting a substantial surge in demand for treatments addressing heart-related ailments in canines. According to the latest report by Future Market Insights, the market, valued at USD 3480 million in 2022, reached USD 3643.6 million in 2023. This upward trend underscores the growing awareness and prioritization of canine health, with a compound annual growth rate (CAGR) of 4.80% anticipated from 2023 to 2033.
Canine dilated cardiomyopathy drugs play a pivotal role in managing heart-related conditions among dogs, showcasing the continual advancements in veterinary medicine. The projected expansion of the market to surpass USD 5822.9 million by 2033 highlights the persistent dedication of pharmaceutical companies, veterinarians, and researchers to innovate and develop effective solutions for canine cardiovascular health.
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“We are witnessing a notable surge in the market for canine dilated cardiomyopathy drugs, indicative of the increasing concern and care for our furry companions’ cardiac health,” stated a representative from Future Market Insights. “This growth trajectory aligns with the continuous developments in veterinary science, offering hope for improved treatments and outcomes for dogs affected by heart-related ailments.”
The comprehensive report by Future Market Insights emphasizes the significance of these drugs in addressing critical cardiac issues in dogs and highlights the continuous efforts to advance treatment options for canine cardiovascular health.
Key Takeaways from the Market Study:
- The canine dilated cardiomyopathy drugs industry expanded at a CAGR of USD 2901.92 million in 2018.
- The canine dilated cardiomyopathy drugs industry in 2022 was USD 3480 million.
- The global canine dilated cardiomyopathy drugs industry is forecasted to expand at a CAGR of 4.80% and is estimated to be valued at USD 5822.9 million from 2023 to 2033.
- The global canine dilated cardiomyopathy drugs industry expanded at a CAGR of 3.7% between 2018 and 2022.
- India expands at a CAGR of 6.10%.
- China thrives at a CAGR of 5.30%.
- Japan is expected to fuel the growth of the canine dilated cardiomyopathy market in the region with a value share of 4.9%.
- Australia is said to capture a CAGR of 4.20.
- Asia Pacific’s canine dilated cardiomyopathy market is predicted to expand at a 3% CAGR during the forecast period.
- North America is anticipated to witness growth at a significant rate over the forecast period with a market share of 33.1%.
- Growing incidences of cancer in the United States of America are expected to accelerate the market growth in the region in the forthcoming years with a market share of 34.1%.
- Injectable holds a significant market share of 54.7% in the market.
- Institutional sales are preferred most in this Market.
- Institutional sales majorly include veterinary hospitals or clinics holding a value share of 62.1%.
- Angiotensin-converting enzyme (ACE) inhibitors hold the most dominant position in the market holding a market value of 55.6%.
Rise in the prevalence of cardiac diseases with technological advancements acts as a significant prominent driver of the canine dilated cardiomyopathy drugs market – comments a Future Market Insights Analyst
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Competitive Scenario:
Some of the prominent players profiled in the global industry:
- H. Boehringer Sohn AG & Co.
- KG, Merck & Co.
- Dechra Pharmaceuticals PLC, Zoetis Inc.
- Bayer AG
- Orion, Elanco
- SAVA Vet
- Elanco
- Zoetis Inc.
- Boehringer Ingelheim
- Merck
Key Innovation of the Market Players:
- In June 2023, Merck (NYSE: MRK), known as MSD outside of the United States and Canada, announced topline results from the Phase 3 KEYNOTE-585 trial, investigating KEYTRUDA, Merck’s anti-PD-1 therapy, in combination with chemotherapy as neoadjuvant treatment. It is followed by adjuvant treatment with KEYTRUDA plus chemotherapy, KEYTRUDA monotherapy in patients with locally advanced resectable gastric and gastroesophageal junction (GEJ) adenocarcinoma.
At a pre-specified interim analysis conducted by an independent Data Monitoring Committee, where the study met one of its primary endpoints of pathological complete response (pCR) rate and demonstrated a statistically significant improvement in pCR rates compared with chemotherapy alone.
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Key Segments in the Canine Dilated Cardiomyopathy Drugs Industry Survey:
By Drug Class:
- ACE Inhibitors
- Vasodilators
- Diuretics
- Angiotensin II Receptor Blockers (ARB)
- Cardiac Glycosides
- Anti-arrhythmic
- Pimobenden
By Route of Administration:
- Oral
- Injectable
By Distribution Channel:
- Institutional Sales
- Veterinary Hospitals
- Veterinary Clinics
- Retail Sales
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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