Access VetMed has published its yearly economic outlook, highlighting the state of the generic and added-value medicines business and trends. The data, collected from 26 members through a survey, confirms the continued growth of turnover and employees. The research shows that the Access VetMed membership generates up to €2.2bn (3% higher than in 2021) and supports more than 8.200 direct jobs in the EU (8.000 last year). The role of the EU market business continued to grow (65%) at the expense of other markets (35%).
However, not all is good news and detailed analysis shows that growth can only be attributed to bigger players. Half of our members (13 companies) qualify as small and medium-sized enterprise (SME) according to EU definitions. For these companies, global sales have decreased by an 8% compared to previous exercise.
The data highlights two aspects to take into account, according to Access VetMed. First, the effect of geopolitical factors such as the Brexit, and consequent decrease in sales, but most importantly the Russian invasion of Ukraine. This has created unprecedented tensions on the pharmaceutical supply chain, which has seen high increases in production costs. In the past year, our members were also challenged by new and resource demanding regulatory threats, such as the new EU veterinary medicines regulation. As members report to the association, the equation between compliance vs economics is already impacting veterinary medicines’ industry portfolios, which are being reduced in many cases.
On the global developments, Dolores Cainzos said: “We are pleased about the maturity of our business and high significance of generic veterinary medicines, and we will continue our efforts to increase Europeans’ access to affordable, safe and quality medicines for the well-being of farm and companion animals.” But she added: “However, we want to warn authorities of the difficulties being faced by our industry, in particular the smaller companies. Governments should not overlook the challenges and needs of industry branches like ours, as these are pivotal in supporting local economics, employment and welfare. These European companies need policy that effectively supports their economic growth while reducing the administrative burden and bureaucracy”.
Founded in 2002 in Brussels, Access VetMed is the association representing the European industry of generic and added-value veterinary medicines. Our mission is to increase ACCESS – availability, compliance, convenience, efficacy, safety, and savings – of veterinary medicines to veterinarians, and farm and companion animal owners. Our 26 members are focused on the development and marketing of generic and added value medicines for farm and companion animals.