The Europe dog dewormers market was anticipated to reach US$ 427.49 million in 2023 and grow at a CAGR of 10.67% between 2023 and 2033. By 2033, the market is expected to be worth US$1,178.20 million.
The Dog Dewormer Market in Europe Witnessed a Burst of Energy
- Research and development, medical supplies, and veterinary services across Europe were significantly impacted by the widespread spread of the pandemic.
- Following the World Health Organization’s classification of the illness as a pandemic, several European countries, including Germany, the United Kingdom, and Russia, implemented complete lockdown measures to contain the spread.
- The animal healthcare sector, including the Europe dog dewormers market, experienced adverse effects as a result of the pandemic, such as decreased veterinary clinic admissions and disruptions in the dewormer drug supply chain.
- However, with the emergence of e-commerce channels and the easing of pandemic restrictions, coupled with the resumption of veterinary services, the market’s growth gradually resumed in the latter half of 2020.
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Dog Dewormers Have Some Side Effects that May Constrain the Potential Market
The main things that can inhibit the Europe dog dewormers market growth are the negative effects of dog dewormers and the strict government requirements for the approval procedure of dog dewormers.
In Europe, the Dog Dewormer Market had a Growth Spurt.
The pandemic’s spread paralyzed the area, impacting practically every region of Europe’s research and development, medical supplies, and veterinary services. European nations like Germany, the United Kingdom, and Russia among others announced a total lockdown to stop the spread after the WHO declared the disease to be pandemic due to its broad nature. The animal healthcare sector has suffered as a result, much like numerous other industries.
Decreased veterinary clinic admission rates and supply chain disruptions for dewormer medicines are just a couple of the market effects of the pandemic. The market for dog dewormers in Europe recovered growth in late 2020 thanks to e-commerce channels, and the restart of veterinary services.
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Key Takeaways
- The distribution channel category for the veterinary clinics may account for a sizeable revenue share of 39% in the Europe dog dewormers market during the anticipated term.
- E-commerce is expected to experience a significant growth rate of 11.08% over the forecasted period in the distribution channel category.
- With a share of almost 14% during the projected period, the United Kingdom is expected to dominate.
- Due to the existence of significant market participants, Germany had a remarkable revenue share over the forecast period at over 15.0%.
- Norway’s market is expected to develop at a quick rate throughout the forecast period.
Competitive Landscape
Fairly fierce competition exists in the Europe dog dewormers market. The prominent market players include Merck & Co., Inc., Boehringer Ingelheim International GmbH, Ceva, Sava Healthcare, Beaphar, and Bob Martin, among others.
To acquire a competitive advantage over one another, these players engage in acquisitions, the introduction of new products, partnerships, and collaborations.
Recent Development
- Approval
Boehringer Ingelheim International GmbH declared in January 2021 that NexGard medicines, which are used as antiparasitics in dogs and cats, have received marketing authorization approval in Europe. European Medicines Agency (EMA) and European Commission approved the request.
- Acquisition to boost their pipeline-building efforts
In 2021, Dechra Pharmaceuticals boosted its pipeline activities by acquiring Mirataz, Osumia, and 15% of Medical Ethics.
- Launch to treat stomach and lungworms, and other worms
In April 2019, Taurador, a dewormer for a topical treatment to treat lungworms, gastrointestinal roundworms, warbles, and other worms in cattle, was introduced by Norbrook Laboratories Ltd.
Key Segments
By Distribution Channel:
- Veterinary Clinics
- Retail/Pet Stores
- E-commerce
By Country:
- Germany
- Italy
- Spain
- Portugal
- Romania
- Slovakia
- Czech
- Hungary
- Poland
- Ireland
- The United Kingdom
- France
- Denmark
- Sweden
- Norway
- Rest of Europe
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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