The Europe Veterinary API Market would witness market growth of 6.2% CAGR during the forecast period (2023-2030).
The market is expanding due to several factors, such as the increased incidence of transboundary and zoonotic diseases, an increase in the national animal population and pet ownership, and the implementation of improved disease control and prevention strategies. Consequently, there is a growing demand for veterinary pharmaceuticals and animal health products, which is anticipated to propel the growth of the market. In addition, this growth is likely to attract foreign investors to the region. The market is mainly driven by increased demand for veterinary drugs due to a growing incidence of zoonotic diseases, the rising number of veterinary pharmaceutical actors, and the rising animal population, pet humanization, pet ownership, and pet expenses.
Even though per-household spending in Europe remains modest compared to other developed nations, pet owners are willing to pay more for their pets' health and pay for regular medical consultations. In addition, countries that include Italy and France have world-class medical facilities. The most recent annual statistics from the European Pet Food Federation (FEDIAF) as of June 2018 indicate that pet ownership in Europe remains high, with roughly 80 million European families owning at least one companion. Increasing pet ownership in the geography and rising expenditures on pet health are anticipated to contribute to the expansion of the market.
The Germany market dominated the Europe Veterinary API Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $870.8 million by 2030. The UK market is exhibiting a CAGR of 5.3% during (2023 - 2030). Additionally, The France market would experience a CAGR of 7% during (2023 - 2030).
Based on Route of Administration, the market is segmented into Oral, Injectable, Topical and Others. Based on API Type, the market is segmented into Parasiticides, Anti-inflammatory, Antimicrobials, Vaccines, Hormones and Others. Based on Synthesis Type, the market is segmented into Chemical based API, Biological API and Highly potent API. Based on Animal Type, the market is segmented into Livestock Animals and Companion Animals. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Veterinary API Market is Projected to reach USD 12.9 Billion by 2030, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boehringer Ingelheim International GmbH, Zoetis, Inc., Elanco Animal Health, Inc., Merck & Co., Inc., Virbac, Vetoquinol SA (Soparfin SCA), Sequent Scientific Limited, Phibro Animal Health Corporation, Febbrica Italina Sintetici S.P.A. (Nine Trees Group S.p.A) and Excel Industries Limited.
By Route of Administration
By API Type
By Synthesis Type
By Animal Type
By Country
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