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Europe Veterinary Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4833362
  • Report
  • March 2021
  • Region: Europe
  • 80 pages
  • Mordor Intelligence
UP TO OFF
until Sep 30th 2021

FEATURED COMPANIES

  • Abaxis Inc.
  • Benfield Pet Hospital
  • CVS Group
  • Elanco
  • Idexx Laboratories
  • Vetoquinol UK Limited
The Europe veterinary healthcare market was valued at USD 7,826 million in 2020 and it is expected to reach USD 13,392 million in 2026, by registering a healthy CAGR of nearly 9.4%, during the forecast period.

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

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. In 2018, as per the People's Dispensary for Sick Animals, approximately 49% of the adults in the United Kingdom owned a pet. Among them, 25% of the adults owned a pet cat (with an estimated population of 11.1 million pet cats) and 24% of the adults owned a pet dog (with an estimated population of 8.9 million pet dogs).

In addition, technological development in animal diagnostic technologies for accurate diagnostics and the increasing penetration of some of the key and giant players in the market is expected to propel the market growth. For instance, in April 2019, Vita Animal Health has 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 farm workers and veterinarians, and the use of counterfeit medicines are restraining the growth of the European veterinary healthcare market.

Key Market Trends

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

Anti-infectives are the treatment regimen that is 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 antimicrobials on various farm animals including cattle, sheep, and pigs, ensuring that the dairy farmers meet the antibiotic residue standard.

The antimicrobial 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 2013-2018, which promotes the implementation of animal health laws and the development of anti-microbial agents, are expected to aid to the market growth.

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

Competitive Landscape

The major players in the European veterinary healthcare market are engaging in various growth strategies, such as collaborations, partnerships, agreements, mergers, and acquisitions, in order to enhance their market presence.
In June 2018, Regeneron entered into a collaboration agreement with Zoetis, to research antibody therapies to be used in animal health. In 2018, Boehringer Ingelheim announced its plans to invest EUR 65 million in France, for the production of avian vaccines, as its demand increased due to an increase in poultry consumption.

The key market players operating in European veterinary healthcare market include Zoetis Animal Healthcare, Boehringer Ingelheim, Ceva , Elanco and Vetoquinol among others.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
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Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abaxis Inc.
  • Benfield Pet Hospital
  • CVS Group
  • Elanco
  • Idexx Laboratories
  • Vetoquinol UK Limited
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.1.1 Advanced Technology Leading to Innovations in Animal Healthcare
4.1.2 Increasing Pet Ownership
4.1.3 Increasing Initiatives by Governments and Animal Welfare Associations
4.2 Market Restraints
4.2.1 Lack of Veterinarians and Shortage of Skilled Farm Workers
4.2.2 Decline in the Number of Farm Animals in Europe
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Therapeutics
5.1.1.1 Vaccines
5.1.1.2 Parasiticides
5.1.1.3 Anti-infectives
5.1.1.4 Medical Feed Additives
5.1.1.5 Other Therapeutics
5.1.2 Diagnostics
5.1.2.1 Immunodiagnostic Tests
5.1.2.2 Molecular Diagnostics
5.1.2.3 Diagnostic Imaging
5.1.2.4 Clinical Chemistry
5.1.2.5 Other Diagnostics
5.2 By Animal Type
5.2.1 Dogs and Cats
5.2.2 Horses
5.2.3 Ruminants
5.2.4 Swine
5.2.5 Poultry
5.2.6 Other Animals
5.3 Geography
5.3.1 Germany
5.3.2 United Kingdom
5.3.3 France
5.3.4 Italy
5.3.5 Spain
5.3.6 Rest of Europe

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abaxis Inc.
6.1.2 Bayer AG
6.1.3 Benfield Pet Hospital
6.1.4 Boehringer Ingelheim International GmbH
6.1.5 Ceva Animal Health Inc.
6.1.6 CVS Group
6.1.7 ECO Animal Health
6.1.8 Elanco
6.1.9 Greencross Vets
6.1.10 Idexx Laboratories
6.1.11 MSD Animal Health
6.1.12 The Bergh Memorial Animal Hospital
6.1.13 Vetoquinol UK Limited
6.1.14 Virbac
6.1.15 Zoetis Animal Healthcare

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • 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
Note: Product cover images may vary from those shown

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