In view of the cost index increase observed in the livestock farming sector in recent years and of the effect of this increase on the value chain of food products of animal origin, the Hellenic Competition Commission (HCC) launched a mapping study to assess the competitive conditions in the market for veterinary medicinal products (VMPs).
The wider VMP sector encompasses any drug intended for administration to animals for preventive, therapeutic or diagnostic purposes as well as any medicated premix and medicated animal feed.
The HCC’s Market Mapping aims at reflecting the value chain and the competitive conditions prevailing in the industry concerned.
According to Eurostat, in Greece, both the compound feeding stuff price index and the veterinary expenditure index show an upward trend from 2020 onwards. In particular, the compound feeding stuff index increased from 96 points in 2020 to 127 points until the third quarter of 2023 (a percentage increase of 33%), while the veterinary expenses index increased from 104 points in 2020 to 117 points until the third quarter of 2023 (a percentage increase of 13%).
About Market Mapping
Market Mapping is a useful tool assisting the HCC in assessing the competitive conditions in any market or sector of the economy when this is required for the effective exercise of its powers.
A Market Mapping is immediately initiated upon decision of the HCC and carried out by the Directorate-General for Competition.