Half of all new vet medicine registrations now generics

Around 50% of all veterinary medicine registrations are now for generics, with the continually expanding pharmaceutical sub-sector employing 30,000 people, according to early findings from a pending market report.

Some conclusions from a market study, due to be published before the end of the year, were revealed early at a meeting in Romania featuring 60 chief executives and staff from pharmaceutical firms.

Access VetMed, which represents a number of companies with a presence in the UK, held its annual meeting in Bucharest and heard of the sub-sector’s increasing importance in the overall pharmaceutical market in a snapshot of the Access VetMed European Generic Medicines Market Study 2024.

Significant growth

Andreas Asamer, chief executive of VetViva and a board member of Access VetMed, said: “This study shows that generics have grown into a significant player in Europe.

“In fact, 60% of marketing authorisation holders own generic licences and around 50% of all veterinary medicine registrations [are] generics nowadays. As for Access VetMed members, we hold 52% of all generic registrations.”

Marc Cayol, study market task force lead, said: “One of the most significant insights from the data is the substantial contribution of the veterinary generic industry to the global market, accounting for more than 35% of the EU’s total revenue and employing around 30,000 out of 50,000 workers, or 60%.”

The meeting also heard the industry was actively investing in product development, including in minor species, and research and development was taking place to improve formulations and features.