What it seems like you are describing with your ferret's skin condition
sounds very much like moist dermatitis.  This is simply skin that has
been irritated and rubbed/chewed/licked until raw.  The area stays moist
usually due to the area becoming infected and then it just gets more
itchy and irritated, causing the animal more discomfort.
 
Things such as salves and other products that keep the area moist are
the exact opposite to what you want to use.  Usually what is prescribed
is a good oral antibiotic to help the infection and some prednisone to
keep down the itchyness and irritation.  See if you vet can give you
some antibiotics that you will usually give once or twice a day and maybe
check the dosage of prednisone that you are giving the ferret.  Try to
keep the area dry and from becoming re-irritated.  Clean it with some
antiseptic rinse and allow it to dry before applying a bandage.  See if
you can get some non-stick bandage patches from your vet then maybe some
self sticking ACE bandage and wrap that around the ferret's hind quarters
and just check frequently to make sure the ferret hasn't soiled the
bandage.  After a few days the area should scab over and won't be such a
problem.
 
Also look at what type of flooring that you ferret is walking around on.
Maybe lay down an old, soft blanket for him/her to run around on instead
of carpet or wood flooring, which can be abrasive.  Maybe even limit the
ferrets "free roam" time just for a few days until it heals up a bit,
just to help it not get any worse.  The main thing is look around your
house at the flooring.  Anything that seems even a little abrasive could
cause problems if they are dragging their hind end, and limit the
ferret's access to those areas.
 
I hope this helps.
 
Samantha.
[Posted in FML issue 5232]