Europe OTC Parasiticides Market Size

Europe OTC Parasiticides Market size is anticipated to cross USD 634.89 Million by the end of 2031, witnessing around 6.26% CAGR during the forecast period, i.e., 2022-2031. In the year 2021, the industry size of europe OTC parasiticides was USD 347.42 Million. 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.

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.