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Europe Veterinary Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 113 Pages
  • June 2022
  • Region: Europe
  • Mordor Intelligence
  • ID: 4833362
UP TO OFF until Sep 30th 2022
The Europe veterinary healthcare market was valued at USD 8285.18 million in 2021 and is expected to grow at a CAGR of 6.61% during the forecast period (2022-2027).

The World Veterinary Association (WVA) and local veterinary associations in Europe declared veterinary services as ‘essential’ in the same way as human healthcare services in 2020, according to an article published on Health for Animals, and therefore, many veterinarians are continuing to practice in current COVID-19 situation as well. To ensure the availability of veterinary medicines in the European market, the European Medicines Agency (EMA) has also designed and implemented a few guidelines.

The major factor contributing to the growth of the European veterinary market is the rising animal adoption in European countries, coupled with increasing initiatives by various governments and improved animal healthcare. As per PetsMagnet, the United Kingdom, at the end of 2019 over 87.5 million dogs were estimated in the countries of the European Union while in Germany dog population was higher which was over 10 million, followed by the United Kingdom accounted for 9 million dogs.

In addition, technological developments in animal diagnostic technologies for accurate diagnostics and the increasing penetration of some of the key and giant players in the market are expected to propel the market growth. For instance, in April 2019, Vita Animal Health launched a range of veterinary-specific animal health supplements in the United Kingdom. The range was already established in several European countries and includes products to support cardiovascular, joint, and skin health in cats, dogs, rabbits, and horses.

However, the increasing costs of animal testing and veterinary services, shortage of farmworkers and veterinarians, and the use of counterfeit medicines are restraining the growth of the Europe veterinary healthcare market.

Key Market Trends


Anti-infectives are Expected to Have a Significant Share of the Market Over the Forecast Period


Anti-infectives are the treatment regimen used for the prevention and treatment of infections in animals. In Europe, a wide range of anti-infectives is being approved and commercialized by different animal healthcare companies. In addition, the rise in the prevalence of various animal diseases is expected to drive the overall growth of the market studied over the forecast period. According to a report published by the WHO, although national programs were successful in containing anthrax, globally, the disease continues to be prevalent due to the lack of experience of the latest generation of veterinarians in identifying and reporting the disease. Some of the top companies of veterinary anti-infectives in Europe are Zoetis, Ceva Animal Healthcare, and Boehringer Ingelheim, among others. The Responsible Use of Medicines in Agriculture (RUMA), in Europe, is an organization that provides guidelines for the responsible use of anti-microbials on various farm animals, including cattle, sheep, and pigs, ensuring that the dairy farmers meet the antibiotic residue standard.

Anti-microbial resistance is the major concern that affects the effectiveness of prevention and treatment of infections caused by bacteria, parasites, viruses, and fungi. However, the initiatives by the British government, such as the five-year anti-microbial resistance strategy 2017-2022, which promotes the implementation of animal health laws, and the development of anti-microbial agents are expected to aid the market growth.

Also, the current COVID-19 situation has seen a substantial increase in R&D activities for the development of COVID-19 veterinary vaccines and antiviral drugs. This is expected to boost the market with novel products in the near future. Also, in January 2020, the World Small Animal Veterinary Association (WSAVA) listed down the list of essential medicines for dogs and cats during the pandemic, which included several antibacterial and antiprotozoal, and antiviral drugs. Overall, the anti-infective segment is expected to witness tremendous growth in the future.






Competitive Landscape


The major players in the Europe veterinary healthcare market are engaging in various growth strategies, such as collaborations, partnerships, agreements, mergers, and acquisitions, to enhance their market presence. The key market players operating in the Europe veterinary healthcare market include Abaxis Inc., Bayer AG, Benfield Pet Hospital, Boehringer Ingelheim International GmbH, Ceva Animal Health Inc., CVS Group, ECO Animal Health, Elanco, Greencross Vets, Idexx Laboratories, MSD Animal Health, The Bergh Memorial Animal Hospital, Vetoquinol UK Limited, Virbac, Zoetis Animal Healthcare among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Advanced Technology Leading to Innovations in Animal Healthcare
4.2.2 Increasing Pet Ownership
4.2.3 Increasing Initiatives by Governments and Animal Welfare Associations
4.3 Market Restraints
4.3.1 Lack of Veterinarians and Shortage of Skilled Farm Workers
4.3.2 Decline in the Number of Farm Animals in Europe
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Therapeutics
5.1.1.1 Vaccines
5.1.1.2 Parasiticides
5.1.1.3 Parasiticides
5.1.1.4 Medical Feed Additives
5.1.1.5 Other Therapeutics
5.2 By Application
5.2.1 Diagnostics
5.2.1.1 Immunodiagnostic Tests
5.2.1.2 Molecular Diagnostics
5.2.1.3 Diagnostic Imaging
5.2.1.4 Clinical Chemistry
5.2.1.5 Other Diagnostics
5.3 By Animal Type
5.3.1 Dogs and Cats
5.3.2 Horses
5.3.3 Ruminants
5.3.4 Swine
5.3.5 Poultry
5.3.6 Other Animals
5.4 By Geography
5.4.1 Germany
5.4.2 United Kingdom
5.4.3 France
5.4.4 Italy
5.4.5 Spain
5.4.6 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Boehringer Ingelheim International GmbH
6.1.2 Ceva Sante Animale (CEVA)
6.1.3 ECO Animal Health Group Plc
6.1.4 Elanco
6.1.5 Idexx Laboratories, Inc.
6.1.6 MSD Animal Health
6.1.7 Vetoquinol S.A.
6.1.8 Virbac
6.1.9 Zoetis Inc.
6.1.10 Hipra
6.1.11 Dopharma
6.1.12 Dechra Pharmaceuticals PLC.
6.1.13 Orion Corporation
6.1.14 Norbrook
6.1.15 Laboratorios Syva
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Boehringer Ingelheim International GmbH
  • Ceva Sante Animale (CEVA)
  • ECO Animal Health Group Plc
  • Elanco
  • Idexx Laboratories, Inc.
  • MSD Animal Health
  • Vetoquinol S.A.
  • Virbac
  • Zoetis Inc.
  • Hipra
  • Dopharma
  • Dechra Pharmaceuticals PLC.
  • Orion Corporation
  • Norbrook
  • Laboratorios Syva

Methodology

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