Europe Veterinary Pharmaceuticals Market Size And Forecast For Application 2028
Europe Veterinary Pharmaceuticals Industry Overview The Europe veterinary pharmaceuticals market size was valued at USD 5.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028. The growing awareness about zoonoses, the humanization of pets, the availability of pet insurance, and R&D initiatives by market players are the key factors anticipated to fuel the market growth in the coming years. Boehringer Ingelheim, for instance, initiated over 450 clinical studies in 2020. The company received over 240 product authorizations that included approval for Aservo Equihaler in the EU for the alleviation of severe equine asthma. The impact of the COVID-19 pandemic on the European market was varied. The adverse effects include dampened demand, operational hurdles, and low sales. This was a result of movement restrictions, quarantine protocols implemented by governments, and deferred or canceled veterinary visits due to lockdowns. F...