Europe OTC Parasiticides Industry - 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.
