Europe Dog Dewormers Market Size, Share & Trends Analysis Report By Distribution Channel, By Country And Segment Forecasts, 2023
Europe Dog Dewormers Market Size, Share & Trends Analysis Report By Distribution Channel (Veterinary Clinics, Retail/Pet Stores, E-commerce), By Country (Spain, Germany, Portugal, Romania, Slovakia), And Segment Forecasts, 2023 – 2030
New York, Jan. 05, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Dog Dewormers Market Size, Share & Trends Analysis Report By Distribution Channel, By Country And Segment Forecasts, 2023 – 2030” – https://www.reportlinker.com/p06291032/?utm_source=GNW
Europe Dog Dewormers Market Growth & Trends
The Europe dog dewormers market size is expected to reach USD 864.18 million by 2030, expanding at a CAGR of 10.67% over the forecast period. Rising canine population coupled with their ownership and growing expenditure on dogs are major drivers propelling the market growth. FEDIAF’s 2022 report indicated that Europe’s pet-owning households reached 90 million (i.e. 46%) in 2021, and among these households live approximately 92.9 million dogs. Furthermore, the European population spends around USD 24.5 Billion on pet-related services and products each year, according to European Pet Food Industry. Similarly, according to data published by N26 GmbH in October 2020, around USD 15.8 to USD 52.8 (EUR 15-50) per month is spent on dog insurance, depending on their breed.
Various government organizations in Europe were actively monitoring the impact of COVID-19 on veterinary medicines supply chains.As per FVE (Federation of Veterinarians of Europe) in July 2021, veterinary services for companion animals in the region have been highly impacted during the mid of 2020, as only emergency and urgent treatments were allowed as per the government regulations.
However, veterinary businesses quickly recovered with the support of e-commerce sales channels and the implementation of enormous government initiatives to continue veterinary healthcare practices.
For instance, in March 2020, FVE stated that veterinary services in Europe are considered one of the most essential businesses and will be continuing despite the ongoing pandemic.Veterinarians, vet clinics, and key market players have implemented various strategies to revive their services.
Countries like the U.K. and France, have shifted towards digital vet consultations for essential pet care and proceeding with the online supply of dog dewormer products.
The Europe dog dewormers industry is expected to grow notably in the coming years.This can be attributed to the well-established veterinary care infrastructure, a large dog population, and the local presence of key companies.
According to the annual report of FEDIAF 2022 (the European Pet Food Industry), the countries like Russia, the U.K., Germany, Spain, France, and Italy were registered to have households owning more than 7 million dogs.
The market is reasonably competitive. The most notable participants in the market include Merck & Co., Inc., Boehringer Ingelheim International GmbH, Ceva, Sava Healthcare, Beaphar, and Bob Martin, among others. These players are involved in acquisitions, new product launches, collaborations, geographical expansions, and partnerships to gain a competitive edge over each other. In January 2021, Boehringer Ingelheim International GmbH announced marketing authorization approval in Europe for NexGard products, which are used as antiparasitics in dogs and cats. The approval was granted by European Medicines Agency (EMA) and European Commission.
Europe Dog Dewormers Market Report Highlights
• Rising disposable income, growing adoption of pets, and rising pet expenditure are expected to fuel the market growth during the forecast period. The recent COVID-19 pandemic has increased the pet adoption rate significantly, owing to the rise in the average hours people spend in households. For instance, the U.K. witnessed an ever-rising pet adoption rate, leading to emptied shelters during the pandemic
• In terms of revenue, the veterinary clinics dominated the distribution channel segment with a share of around 38% in 2022 owing to the increasing number of veterinary clinic establishments and rising veterinarian employment
• The U.K. is anticipated to account for the largest market share of around 14% owing to the presence of major market players and the high dog population in the region
• Some key industry players include Elanco, Zoetis, Boehringer Ingelheim International GmbH, Virbac, and others
Read the full report: https://www.reportlinker.com/p06291032/?utm_source=GNW
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