Europe OTC Parasiticides Market Trends

Growth Drivers

• Rising Demand for Parasiticides- With the growing number of diseases among animals which can be caused by various organisms such as bacteria, parasites, and viruses. The demand for parasiticides is also boosting. Out of the total sale of animal healthcare products in Europe, parasiticides held a share of approximately 30% in the year 2021.

• Higher Adoption of Pets- Pets may contract ordinary parasites like fleas or particularly harmful ones like heartworms. Pet dogs and cats are frequently exposed to a variety of internal and external parasites. In the European Union, nearly 84 million cats were kept as pets followed by around 73 million dogs. Moreover, the count of ornamental bird and other small mammals were about 34 million and 22 million, respectively.

• Acquisition and Collaboration Among the Prominent Company- In June 2022, Orion Animal Health partnered with Inovet. The combined company expands its global reach and product offerings to include both livestock and companion animals, making it a significant player in the animal health industry.

• Higher Number of People Offering Veterinary Services in Europe- In Europe, there are more than 214,000 people working in veterinary services. More than 70,000 businesses make up the Veterinary Service. Veterinarians can help people to understand the effective use of parasiticides for an animal that is infested with fleas or ticks, which in turn is expected to boost the sales of OTC parasiticides.

• Increased Population of Cattle- Few parasites, such as endoparasiticides can be transferred to humans by consuming animal-derived food. The cattle should be treated with parasiticides in order to prevent the transmission of parasites. In December 2019, there were 62 million sheep, 12 million goats, 77 million bovine animals, and 143 million pigs in the EU. Moreover, the total number of dairy cows older than 12 months in the UK was around 3 million head as of June 2021.

Challenges

• Human Health Threats Imposed by Parasiticides by contaminating the environment- Concern over the danger that some parasiticides bring to human health by contaminating the environment is growing. Parasiticides can infiltrate rivers or travel through wastewater from houses, businesses, or other locations where animals are kept. They might also be excreted in faeces and urine, which would then be dumped in gardens and other open areas and absorbed into the soil.
• Smuggling of Fake Parasiticide Goods
• Parasiticides' Effects on Non-Target Invertebrates