The Europe Veterinary Active Pharmaceutical Ingredients (APIs) Market is expected to grow at a high CAGR during the forecasting period (2022-2029).
The rapidly growing animal health market is driving the growth of the veterinary active pharmaceutical ingredient (API) market.
Some of the factors such as growing focus on animal well being, increase in the number of animal healthcare NGOs, and unmet medical needs act as other major growth drivers in the market.
Growing antiparasitic API landscape due to the abundance of pharmaceutical companies in the Europe region which are involved in the development of antiparasitic API.
Anti-infectives are also growing rapidly, contributing significant revenue to the market.
Europe is the second-largest market for veterinary active pharmaceutical ingredients. Leading healthcare companies are located in Europe, which in turn has boosted the requirement for veterinary APIs in the region.
The consumption of veterinary drugs in Europe has increased over the past few years. Spain has been being one of the largest consumers of veterinary antimicrobial APIs in the European region.
In addition, rising improvements in animal productivity have driven the growth of the animal health industry in this region. These incidences are expected to boost the growth of the veterinary APIs market in Europe.
However, the pharmaceutical industry in Europe has been concerned with the potential short-term impacts of REACH regulations. This is likely to result in a decrease in the supply of materials, or reagents, which are not preregistered by EU suppliers.
Also, dynamic changes in Europe's macro-economic environment, such as Brexit, has been impacting the intra-European trade and overall pharmaceutical sector. These factors might hamper the growth of the animal health API market in Europe
Some of the major market players in the European veterinary API market are Glenmark Pharmaceutical Ltd., Zoetis, Eli Lilly & Co., Sanofi Winthrop Industrie (CEPiA), Indukern, S.A., Ofichem BV, P&R SpA (Olon SpA), Lonza Group AG, Huvepharma, Sequent Scientific Ltd., and others.
Recent FDA approvals, mergers & acquisitions and new product launches by key players are driving the European veterinary active pharmaceutical ingredients (APIs) market. For instance,
On December 7 th 2020, NortonLifeLock has agreed to purchase Avira from Investcorp for $360 million to strengthen its consumer cybersecurity and privacy offerings in Europe and other emerging markets.
In December 2020, Sequent Scientific, one of the largest Indian animal healthcare companies with global operations, launched the Halofusol 0.5 mg/ml oral solution for calves in 19 European countries. The product had recently received approval from the European Medicines Agency (EMA) through its Spanish subsidiary Laboratorios Karizoo, S.A. The product was developed at Sequent Scientific's R&D centre in Barcelona, Spain & will be manufactured in Spain.
Sequent provides animal health Active Pharmaceutical Ingredients (API), formulations, and analytical services in over 100 countries, with more than 1,700 employees and manufacturing operations in India, Spain, Turkey, Germany and Brazil.
In February 2020, Sanofi planned to create a major leading European company dedicated to the production and marketing to third parties of active pharmaceutical ingredients (API), which are the essential molecules responsible for the beneficial effects used in the composition of any drug. The project consists of creating a standalone company that would combine Sanofi’s API commercial and development activities with six of its European API production sites: Brindisi (Italy), Frankfurt Chemistry (Germany), Haverhill (UK), St Aubin les Elbeuf (France), Újpest (Hungary) and Vertolaye (France).
With increasing medicine shortages that critically impact patient care, the new entity would contribute to supporting and securing API manufacturing as well as supply capacities for Europe and beyond. In Europe, the new API industry champion is expected to help in balancing the industry’s heavy reliance on API sourced from the Asian region.
The new company would rank as the world's second-largest API company with approximately €1 billion in expected sales by 2022. It is expected to include 3,100 skilled employees and to be headquartered in France.
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