Europe OTC Parasiticides Market

Europe OTC Parasiticides Market Analysis by Product Type (Ectoparasiticides, Endoparasiticides, and Endectocides); by Animals (Dogs, Cats, and Others); by End User (Personal User, and Commercial User); and by Distribution Channel (Online, and Offline) – Supply & Demand Analysis & Opportunity Outlook 2021-2031

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Report ID: 4682 | Published On: Feb 06, 2023

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • Merck & Co., Inc., announced the acquisition of Vecoxan, the leading brand of parasiticides for ruminant line. Through this acquisition, Merck Animal Health is to improve parasite protection for calves and lambs, expanding its market position.

  • Chanelle Pharma, announced the completion of documentation of new Bisoprolol. For those with heart failure, hypertension, and angina, bisoprolol is regarded as a crucial therapeutic choice.


Europe OTC Parasiticides Market Definition

OTC is known as over-the-counter, the medicine that can be purchased without a proper prescription. When used according to the instructions on the label and those given by your healthcare provider, they are safe and effective. Parasiticides are among the most commonly purchased OTC medicines. Parasiticides are usually used on animals, these are the medicines that kill the parasites, and even fungi and bacteria growing on animals. In general, all the parasiticides have similar chemical formulas and structures and they serve the same purposes and have the same characteristics. Parasiticides are non-reactive substances that can be used by mixing with other chemicals.

To prevent and cure numerous parasites, such as fleas, ticks, and worms, small animal veterinarians frequently employ parasiticide medications. Other than the concern about animal health and welfare, human health should also be considered, as they are at high risk of zoonotic diseases which can transmit from animal-derived food.

There are various parasiticides available in the market to treat different types of parasites-infestation, such as acaricide are used to destroy ticks and mites. Furthermore, roundworms, tapeworms, and flukes are treated with anthelmintic. In addition to this, there are different family of OTC parasiticides, including macrocyclic lactones, formamides, benzimidazoles, trypanocides, synthetic pyrethroids, and others.

Modern science has successfully increased the effectivity of parasiticides to the extent, that they can completely treat Echinococcus multilocularis, heartworm disease, and others. The medicine has become capable of destroying fleas and ticks before they can even lay eggs and its efficacy stays for over a month.


Europe OTC Parasiticides Market: Key Insights

Base Year

2021

Forecast Year

2022-2031

CAGR

6.26%

Base Year Market Size (2021)

USD 347.42 Million

Forecast Year Market Size (2031)

USD 634.89 Million

Regional Scope

  • Europe {Belgium, Czech Republic, France, Germany, Greece, Italy, Netherlands, Poland, Portugal, Spain, and the Rest of Europe (EU27)}


Europe OTC Parasiticides Market Size, Forecast, and Trend Highlights Over 2021 – 2031

The Europe OTC parasiticides market is estimated to garner a revenue of USD 634.89 Million by the end of 2031 by growing at a CAGR of 6.26% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 347.42 Million in the year 2021. The growth of the market can be attributed to the eruption of various diseases caused by bacteria, fungi and parasites among animals, which in turn can risk human health as well. According to the most recent information from the joint EFSA, ECDC, and EU reference laboratory study, there have been around 3,500 HPAI (Highly Pathogenic Avian Influenza) occurrences in wild birds and nearly 2,400 outbreaks in poultry, with about 48 million birds being killed in the affected premises.

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In addition to these, factors that are believed to fuel the growth of the Europe OTC parasiticide market include the rising affection of people towards animals is increasing the number of pets in households. There is more physical interaction between humans and pets, which can also affect human health if their pet is suffering from parasite infestation. which is expected to boost the growth of Europe OTC parasiticides market. In the European Union, around 90 million households own a pet, which makes up almost 46% of households. Furthermore, increasing the risk of humans getting infected by parasitic worms. In 2021, the IPI prevalence rate in children is approximately 6%. Moreover, Blastocystis hominis parasite have the highest pervasion rate of 11% in the European countries.


Europe-OTC-Parasiticides-Market-scope.
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Europe OTC Parasiticides Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand for Parasiticides- With the growing number of diseases among animals which can be caused by various organisms such as bacteria, parasites, and viruses. The demand for parasiticides is also boosting. Out of the total sale of animal healthcare products in Europe, parasiticides held a share of approximately 30% in the year 2021.

  • Higher Adoption of Pets- Pets may contract ordinary parasites like fleas or particularly harmful ones like heartworms. Pet dogs and cats are frequently exposed to a variety of internal and external parasites. In the European Union, nearly 84 million cats were kept as pets followed by around 73 million dogs. Moreover, the count of ornamental bird and other small mammals were about 34 million and 22 million, respectively.

  • Acquisition and Collaboration Among the Prominent Company- In June 2022, Orion Animal Health partnered with Inovet. The combined company expands its global reach and product offerings to include both livestock and companion animals, making it a significant player in the animal health industry.

  • Higher Number of People Offering Veterinary Services in Europe- In Europe, there are more than 214,000 people working in veterinary services. More than 70,000 businesses make up the Veterinary Service. Veterinarians can help people to understand the effective use of parasiticides for an animal that is infested with fleas or ticks, which in turn is expected to boost the sales of OTC parasiticides.

  • Increased Population of Cattle- Few parasites, such as endoparasiticides can be transferred to humans by consuming animal-derived food. The cattle should be treated with parasiticides in order to prevent the transmission of parasites. In December 2019, there were 62 million sheep, 12 million goats, 77 million bovine animals, and 143 million pigs in the EU. Moreover, the total number of dairy cows older than 12 months in the UK was around 3 million head as of June 2021.

Challenges

  • Human Health Threats Imposed by Parasiticides by contaminating the environment- Concern over the danger that some parasiticides bring to human health by contaminating the environment is growing. Parasiticides can infiltrate rivers or travel through wastewater from houses, businesses, or other locations where animals are kept. They might also be excreted in faeces and urine, which would then be dumped in gardens and other open areas and absorbed into the soil.
  • Smuggling of Fake Parasiticide Goods
  • Parasiticides' Effects on Non-Target Invertebrates


Europe OTC Parasiticides Market Segmentation

The Europe OTC parasiticides market is segmented and analyzed for demand and supply by animals into dogs, cats, and others. Out of the three types of animals, the dogs segment is anticipated to hold the largest market size of USD 286.02 million by the end of 2031 by growing at a CAGR of 6.47% over the forecast period. The segment garnered a revenue of USD 153.46 million in 2021. The growth of the segment can be attributed to the higher number of dogs present in Europe. With more than nearly 10 million dogs as pets, Germany had the greatest pet dog population in the EU in 2021. Spain came in second place with around 9 million dogs. There were roughly 660,000 and 610,000 dogs living in the populations of other nations, such as Greece and Denmark.

The Europe OTC parasiticides market is also segmented and analyzed for demand and supply by product type into ectoparasiticides, endoparasiticides, and endectocides. Amongst these three segments, the ectoparasiticides segment is expected to garner a market revenue of USD 292.35 million at the end of 2031 by growing at a CAGR of 6.33% over the projected time frame. The segment generated a revenue of USD 158.97 million by 2021. Ectoparasiticides are used to control ticks, mites, flies, and fleas. The medicines for flea and tick infestation are readily available in pharmacies and supermarkets, pet owners can access the medicines without any mandatory prescription from a doctor. flea and tick infestation in dogs and cats is a serious health issue. Moreover, they can occur on healthy animals and they usually attack the injured area of the animal. Therefore, segment growth can be expected on the account of the rising number of dogs that are injured in conflict with other animals, injuries caused by a natural disaster, or accidental injuries. On European roadways, an estimated 29 million animals and 194 million birds per year are thought to be killed. Furthermore, ectoparasiticides is further categorized into pour on, spot on, sprays, and others.

Our in-depth analysis of the Europe OTC parasiticides market includes the following segments:

                 By Product

  • Ectoparasiticides
  • Pour On
  • Spot On
  • Sprays
  • Others
  • Endoparasiticides
  • Injectable
  • Oral
    • Liquids
    • Tablets
    • Others
  • Endectocides

                By Animal

  • Dogs
  • Cats
  • Others

                By End User

  • Personal User
  • Commercial User

                By Distribution Channel

  • Online
  • Offline


Europe OTC Parasiticides Market Regional Synopsis

The Europe OTC parasiticides market is segmented into Belgium, Czech Republic, France, Germany, Greece, Italy, Netherlands, Poland, Portugal, Spain, and Rest of Europe (EU 27). Amongst all, the Rest of Europe market in all the other regions is projected to hold the largest market share of USD 180.1 million by the end of 2031. The market in the region is to display growth at a CAGR of 5.59% over the forecast period. In 2021, the region garnered a revenue of USD 104.90 million. The growth of the market can be attributed majorly to the higher number of vets present across the several countries in the region followed by increased expenditure on pet care. A higher number of vets can help people to prescribe the best solution for the parasite-infected area and create awareness about parasiticides among pet owners or social workers. There are nearly 29,000 vets in the United Kingdom. Moreover, nearly USD 6 billion is spent annually on veterinary services by UK pet owners. Additionally, there are more than 12 million households and around 50 million pet owners in the United States. Cats are the second most popular pet after dogs.

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Top Featured Companies Dominating the Europe OTC Parasiticides Market

    • Inovet
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Merck & Co., Inc.
    • Chanelle Pharma
    • Ceva Sante Animale
    • Vetoquinol S.A.
    • Boehringer Ingelheim International GmbH
    • PetlQ, LLC.
    • Syndel
    • Elanco Animal Health Incorporated

Key Questions Answered in the Report

1) What are the major factors driving the growth of the europe OTC parasiticides market?

Ans: Increased demand for parasiticides, rising empathy for animals, and higher count of livestock are the few factors which is likely to boost the market growth.

2) What would be the CAGR of europe OTC parasiticides market over the forecast period?

Ans: The market is anticipated to attain a CAGR of 6.26% over the forecast period, i.e., 2022 – 2031.

3) What are the challenges affecting the europe OTC parasiticides market growth?

Ans: Illegal selling of parasiticides and risk of parasiticides impacting human health and other invertebrates are the few factors that are to hamper the market growth.

4) Which region will provide more business opportunities for growth of europe OTC parasiticides market in future?

Ans: The market in rest of Europe is projected to hold the largest market share of USD 180.1 million by the end of 2031 and provide more business opportunities in the future. The market in the region to grow at a CAGR of 5.59% over the forecast period. In 2021, the region garnered a revenue of USD 104.90 million.

5) Who are the major players dominating the europe OTC parasiticides market?

Ans: The major players in the market are Inovet, Merck & Co., Inc., Chanelle Pharma, Ceva Sante Animale, Vetoquinol S.A., Boehringer Ingelheim International GmbH, PetlQ, LLC., Syndel, Elanco Animal Health Incorporated, and Others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the Europe OTC parasiticides market?

Ans: The market is segmented by product, animal, end user, distribution channel, and by country.

8) Which segment captures the largest market size in animal segment in the Europe OTC parasiticides market?

Ans: The dog segment is anticipated to garner the largest market size of USD 286.02 million by the end of 2031 and display significant growth opportunities. The segment is to grow at a CAGR of 6.47% over the forecast period. The segment garnered a revenue of USD 153.46 million in 2021.

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