The size of the Europe Veterinary Healthcare Market is expected to be USD 10.37 billion in 2022 and USD 14.15 billion by 2027, growing at a CAGR of 6.4% from 2022 to 2027.
Veterinary healthcare covers wild and pet animals and the market associated with diagnosing, treating, and preventing their ailments. The veterinary healthcare market in Europe is generally quite advanced, with many countries having well-developed veterinary medicine systems. There are numerous veterinary clinics and hospitals throughout Europe, and many animals receive regular medical care from trained professionals. In addition to treating pets and domestic animals, veterinarians in Europe also play a key role in ensuring the health of farm animals, which are an essential part of the continent's agriculture industry. Many European countries have strict regulations to ensure that animals receive proper medical care, and several organizations are dedicated to promoting animal welfare on the continent.
YOY growth in the number of veterinary animals across European countries is one of the major factors promoting the European veterinary healthcare market. Cats and dogs are the most adopted pet by European households. In 2021, the population of pet cats was 113 million in Europe. According to the statistics published by Eurostat, Europe had 142 million pigs, 76 million bovine animals, and 71 million sheep and goats. The adoption has increased in Europe in the recent past due to the COVID-19 pandemic. With the increase in adoption, the number of visits to veterinary clinics has increased dramatically for regular check-ups and vaccines on time to prevent a human from an infection that may spread from pet animals. The European governments are taking several measures to safeguard veterinary healthcare in Europe, which is expected to favor the market’s growth rate. Increasing awareness of livestock health and pet animal numbers is a key factor in market growth. Furthermore, few requirements for animal health drug approval, combined with the growth in companion animal numbers, further promote the veterinary healthcare market in the European region. Also, awareness of rising incidences of zoonotic diseases is a driving force for the market.
YOY growth in the incidence of zoonotic diseases further propelled the European animal healthcare market. Due to direct or indirect contact, a zoonotic disease is seen among animals and humans. The primary way of acquiring these diseases is through food and water. Due to the growing number of zoonotic cases, European Union took measures to monitor the animals and reports their changes. As a result, the veterinary healthcare market has gained demand to monitor the disease in animals which helps to reduce the disease severity.
Growing veterinary drugs and veterinary vaccine manufacturing activities and increasing R&D efforts by the market participants are anticipated to support the market growth in this region during the forecast period. Furthermore, owing to the growing cases of viral infections in animals and the rising prevalence of chronic diseases among animals, manufacturers have emphasized producing veterinary medical supplies and creating effective drugs and vaccines.
Growing consumption of meat and dairy products among the European population is further expected to fuel the market’s rise. The consumption of meat is growing considerably with each passing of the growing population in the European region, and the intake of dairy products for sufficient calcium in the human body has also grown. To meet the growing food need, livestock farm owners are trying to increase food production capacity by regularly giving vaccines and drugs to animals for fast and healthy growth.
However, increasing regulation on antibiotics is expected to remain a major restraint for the market. Apart from that, increasing cost regulation related to animal testing is also a significant hurdle for the growth of the European veterinary healthcare market. In addition, the unavailability of animal treatment, lack of required infrastructure, and lack of skilled professionals further limit the market’s growth rate.
This research report on the Europe veterinary healthcare market has been segmented and sub-segmented into the following categories:
By Animal Type:
Regionally, the European veterinary healthcare market has a dominating share globally and tends to remain in the forecast period. This regional market was dominated by the UK Veterinary Healthcare Market in the recent past and is predicted to continue in the coming future. In the United Kingdom, animal healthcare is provided by various organizations and institutions, including the National Health Service (NHS), private veterinary clinics, and animal welfare organizations. The NHS sometimes provides medical care for pets, although private practices provide most veterinary care. Pet owners are generally responsible for their animals' healthcare, including regular check-ups and vaccinations. In addition, animal welfare organizations such as the Royal Society for the Prevention of Cruelty to Animals (RSPCA) also provide medical care and other services for animals in need.
Several market participants are in Germany, favoring the veterinary healthcare market in this country, and the German market is competitive. Despite the COVID-19 lockdown and stoppage in the manufacturing and supply chain due to COVID-19, the German market is expected to showcase a healthy CAGR during the forecast period. In Germany, animal healthcare is provided by a combination of public and private institutions. The national government provides funding for animal health research and disease control, and there are also many private veterinary clinics and animal hospitals throughout the country. Pet owners are responsible for their animals' healthcare and are required by law to provide adequate medical care for their pets. In addition, many animal welfare organizations in Germany provide medical care and other services for needy animals.
The Spain veterinary healthcare market is expected to exhibit a CAGR of 6.9% from 2020 to 2025. Growing pet ownership and the well-being of pets in Spain are majorly driving this market.
A constant pace has been noticed in the growth of the Italian veterinary healthcare market and is projected to showcase a steady CAGR during the forecast period. In addition, the adoption of pets in Italy is significantly growing and offering growth possibilities to the Italian market.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the European veterinary healthcare market profiled in this report are Merck & Co., Inc., Bayer AG, Boehringer Ingelheim GmbH, Cargill, Inc., Ceva Santé Animale, Novasep, Eli Lilly and Company, Koninklijke DSM N.V, Novartis AG, Nutreco N.V., Sanofi S.A., SeQuent Scientific Ltd., Virbac S.A., Vétoquinol S.A., and Zoetis Inc.
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