Europe Veterinary Healthcare Market Research Report – Segmented By Animal Type, Product and Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029)

Updated On: January, 2024
ID: 438
Pages: 145

Europe Veterinary Healthcare Market Size (2024 to 2029)

The size of the European veterinary healthcare market is expected to be worth USD 11.79 billion in 2024 and USD 16.08 billion by 2029, growing at a CAGR of 6.4% from 2024 to 2029.

The growing adoption of animals in European countries is propelling the growth of the European veterinary healthcare market.

Post-COVID-19 pandemic, people took initiation in the adoption of animals to provide extensive care to animals. According to the Pet Food Manufacturers Association, in 2021, 3.2 million households in the U.K. adopted pets since the early stage of the pandemic. Government initiatives are playing a prominent role in the expansion of the market. For instance, in 2022, the British Equine Veterinary Association collaborated with the British Equestrian and the British Horseracing Authority to monitor the potential impact of a shortage of vaccine doses for Equine Influenza. These governments are taking the initiative by liaising with the vaccine manufacturers to reduce the vaccine shortage effect on equine health and welfare. Pet humanization and quick adoption drive the market. 

The rising prevalence of animal diseases and the increase in preventive care are further fuelling the growth rate of the European veterinary healthcare market. 

Growing animal diseases influenced people to care for the animals to reduce the threat of infections, enhancing the growth in market share. According to a German study in 2022, diarrhea affects 18.5% of nearly 14,000 newborn calves examined from 731 German diary forms, making it more prevalent. Increasing regular check-ups and immunization was the market trend to lower the risks of infectious diseases and improve the healthcare of animals. The preventive immunization and wellness programs and campaigns at veterinary hospitals were increasing the market size. Increasing new varieties of pathogens are influencing the need for animal preventive care.

Increasing advancements in technology in animal healthcare for diagnosis and treatment are expected to create lucrative opportunities for the market participants of the European veterinary healthcare market during the forecast period. Market players are increasing their investments in research and development to innovate more accurate diagnostic technology. The rising trend in the adoption of pets worldwide is expected to propel the market expansion. 

The primary factor impacting the growth of the Europe veterinary healthcare market is the increasing regulatory restrictions on the use of antibiotics.

Certain drug types are restricted for use on animals to reduce the risks associated with the drugs. The necessity of more awareness regarding the risks and regulations of animal health in most of the emerging areas was hampering the market growth. The increasing prevalence of diseases and the lack of awareness of pathogens worldwide were the prominent challenges faced by the market. The emergence of new diseases without proper treatment further increased the challenge of market expansion. 

Impact of COVID-19 on the European veterinary healthcare market

The COVID-19 outbreak has impacted many fields, including veterinary healthcare, due to disruption in the import and export activities of veterinary medicines and diagnostics equipment. These led to a fall in the sales of the veterinary healthcare industry. The European Medicines Agency (EMA) implemented the new guidelines for ensuring the availability of veterinary medicines in the European market. According to the Health for Animal article, the World Veterinary Association declared veterinary services as “essential” in the same way as human healthcare services, where the veterinarians continued to practice in the Pandemic situations void of the lockdown regulations—due to essential requirements, vaccines, parasiticides, and antimicrobials supply had continued in the second half of the COVID-19.

This research report on the European veterinary healthcare market has been segmented and sub-segmented into the following categories.

Europe Veterinary Healthcare Market - By Animal Type

  • Livestock Animals
  • Companion Animals

Europe Veterinary Healthcare Market - By Product 

  • Pharmaceuticals
  • Feed Additives

Europe Veterinary Healthcare Market - By Country 

  • UK
  • France
  • Spain
  • Germany
  • Italy
  • Russia
  • Sweden
  • Denmark
  • Switzerland
  • Netherlands
  • Turkey
  • Czech Republic
  • Rest of Europe

Europe has a dominating share globally and tends to remain in the forecast period.

The UK is expected to be the major segment in the Europe veterinary healthcare market.

This regional market has recently been dominated by the UK Veterinary Healthcare Market and is predicted to continue in the 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.

Germany is anticipated to play a notable role in the Europe veterinary healthcare market.

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 Spanish veterinary healthcare market is expected to exhibit a CAGR of 6.9% during the forecast period. 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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Frequently Asked Questions

Which countries in Eastern Europe show the highest growth potential in the veterinary healthcare sector?

Poland and Hungary are emerging as key markets in Eastern Europe.

What factors contribute to the growth of veterinary diagnostics in Northern Europe?

The increasing adoption of advanced diagnostic technologies and rising awareness about pet health are major drivers in Northern Europe.

What factors are hindering the veterinary healthcare market in Switzerland?

High treatment costs and limited insurance coverage pose challenges to market growth in Switzerland.

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