The Asia pacific canine dilated cardiomyopathy industry size in the region is witnessing a robust upsurge, driven by a confluence of factors fostering an environment conducive to significant expansion. According to recent industry insights released by Future Market Insights, the market, predominantly influenced by the prevalence of disease conditions like cancer and cardiovascular diseases, showcases substantial growth projections in key countries such as India, China, Japan, and Australia.
The report forecasts a promising trajectory for the canine dilated cardiomyopathy market in India, where it is expected to expand at a Compound Annual Growth Rate (CAGR) of 6.10%, followed closely by China with a growth rate of 5.30%. These regions exhibit considerable potential due to the escalating incidences of cancer among patients and the growing demand for various therapy devices.
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Notably, the burgeoning demand for advanced therapy devices including implantable cardioverter-defibrillators (ICDs), biventricular pacemakers, and heart pumps in countries like Japan is poised to fuel market growth. Japan is anticipated to hold a significant value share of 4.9%, further enhancing the regional market’s progress. Additionally, Australia is projected to exhibit a robust growth rate of 4.20%, contributing significantly to the overall expansion of the Asia Pacific canine dilated cardiomyopathy market.
“The Asia Pacific region is experiencing a paradigm shift in the landscape of canine dilated cardiomyopathy treatment, owing to the increasing prevalence of cardiac ailments and the swift adoption of advanced therapeutic solutions,” stated Future Market Insights. “With a projected Compound Annual Growth Rate of 3% throughout the forecast period, the region showcases immense potential for market players seeking growth opportunities in the veterinary healthcare segment.”
The findings underscore the accelerating pace of advancements and adoption of innovative medical interventions in the Asia Pacific canine dilated cardiomyopathy market. Industry stakeholders are urged to closely monitor and capitalize on these developments to establish a strong foothold in this dynamic landscape.
One of the key drivers behind the growth of the canine DCM drugs industry is the increasing prevalence of the disease. Veterinarians and pet owners are now more vigilant in identifying early signs and symptoms of DCM, such as coughing, lethargy, and exercise intolerance. This heightened awareness has resulted in more dogs being diagnosed with the condition, leading to a greater demand for effective medications.
In response to this demand, pharmaceutical companies have been developing and marketing a range of drugs specifically designed to manage DCM in dogs. These medications typically include diuretics to reduce fluid buildup in the lungs, ACE inhibitors to dilate blood vessels and reduce the workload on the heart, and other cardiac drugs to help regulate heart rhythm. Research and development efforts in the field have also led to the introduction of innovative therapies that aim to address the underlying causes of DCM, providing hope for improved outcomes in the future.
Key Takeaways from the Market Study:
- The canine dilated cardiomyopathy drugs industry expanded at a CAGR of US$ 2901.92 million in 2018.
- The canine dilated cardiomyopathy drugs industry in 2022 was US$ 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 US$ 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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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