EUROPE ANIMAL HEALTHCARE MARKET ANALYSIS

Europe Animal Healthcare Market, By Drug Type (Anti-Infective Agents, Anti-Inflammatory & Analgesic Agents, Parasiticides, Vaccines, Hormones & Substitutes, and Others), By Animal Type (Livestock (Bovine, Porcine, Poultry, and Other), Companion (Canine, Feline, Equine), By Indication (Infectious Diseases, Pain Management, Auto-immune Disease, and Others)

Published In : Apr 2024
Code : CMI550
Pages :195
Formats :
Excel and PDF
Industry : Pharmaceutical

Market Challenges – Rising Pet Care Costs

Rising pet care costs are putting financial strain on pet owners across the region. Generic competition is increasing for many off-patent drugs, reducing prices and profit margins for branded products. Strict regulations from the European Medicines Agency also raise compliance costs. Demonstrating safety and efficacy of new products through clinical trials takes significant time and investment.

Market Opportunities – Pet Nutraceuticals and Telehealth

Pet nutraceuticals and telehealth present a compelling growth opportunity in the European animal healthcare market. Pet owners are showing greater willingness to explore nutraceutical supplements and functional foods that can provide additional health benefits to pets. The market has seen the launch of various supplement products targeted at joint health, skin and coat, digestive health, heart health, weight management and more for dogs and cats. The availability of these supplements through e-commerce websites and apps as well as mainstream retail stores has made them highly accessible solutions for pet owners.