In January 2024, Russia experienced a doubling of online veterinary drug sales

sales of veterinary drugs in Russia

As reported by RNC Pharma, the total volume of the retail market for veterinary drugs in Russia reached €21.3 million in the first month of 2024, marking an 11.8% increase from the same period in 2023. Physical consumption grew by 7.6% to 16.5 million minimum units of dosage. This positive market trend is solely attributed to the growth of online sales, which doubled in monetary terms and increased by 1.7 times in physical terms compared to January 2023. Meanwhile, the growth rate of offline channels has slowed to a statistically negligible level, with volume in natural terms barely changing (+0.13%), and in monetary terms, the offline channel even decreased slightly by 0.03% compared to January 2023. As a result, the e-commerce channel’s share in the veterinary drug market grew steadily throughout the past year, reaching a peak in January 2024. During the analyzed period, online sales accounted for 21% in monetary terms (up from 11.6% in the previous January) and also saw a notable increase in physical terms, from 10.4% in January 2023 to 16.4% in January 2024.

Despite the low season, sales of the insecticidal drug Bravecto by MSD dominated the online channel in monetary terms, holding a 14.7% share. Compared to January 2023, sales of the medication increased by 2.7 times in monetary terms: analysts suggest that consumers are already beginning to stockpile this medicine ahead of the season.

In total, veterinary drugs from 148 companies were sold in the e-commerce market in January of the current year. Consumers more frequently chose medications from the United States, which accounted for 43.5% of sales (in monetary terms). Domestic companies currently hold no more than 26.2%, but they have significantly strengthened their positions over the past year, with an increase of 3.5%.

In the offline sales market, the most resources during the analyzed period were spent on the combined antihelminthic drug Milbemax by Elanco. Sales of the medication increased by 5.3% compared to January 2023. In total, medications from 208 corporations were handled offline, with more than 51% in monetary terms from Russian companies.

Among the companies, Elanco showed the highest sales volumes in the retail market (including online) for January 2024, with sales growth of 20.4% in monetary terms. Another American firm, Zoetis, fell to the third place in the rankings, with sales decreasing by 16% compared to January 2023. However, Zoetis remains a leader in the online channel, holding 18% of the market.

The most significant growth in the company rankings was demonstrated by Slovenian KRKA, which rose to second place in terms of monetary sales volume in January. The majority of sales were generated through the offline channel, although the dynamics in e-commerce were several times higher.

Photo: Burdun / Freepik

Rate this article
Like Congratulations Sad Angry LOL Hmm Facepalm

Add Comment

Social login: 

Other News