The size of the Europe Veterinary Healthcare Market was worth USD 10.37 billion in 2022 and estimated to be growing at a CAGR of 6.4%, to reach USD 14.15 billion by 2027.
The veterinary healthcare market covers both wild and pet animals and the market associated with diagnosis, treatment, and prevention of their ailments. Increasing awareness of livestock health and pet animals’ numbers are the key factors influencing this market.
Very few requirements for animal health drug approval, combined with the growth in companion animal numbers, are the major factors driving veterinary healthcare. Also, awareness is rising incidences of zoonotic diseases is also a driving force for the market.
However, increasing regulation on antibiotics is expected to remain a major restraint for the market. Apart from that, increasing costs regulation related to animal testing is also a major hurdle for the growth of the European animal healthcare market.
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 predicted the same to be continuing in the coming future. Analysts at Market Data Forecast forecasted that the UK market would be growing at 5.64% between 2020 to 2025.
Numerous companies are operating in the German Veterinary healthcare market, and this market is fairly competitive. Despite the lockdown and stoppage in the manufacturing and supply chain due to the COVID-19, the German market is expected to showcase a healthy CAGR during the forecast period.
The Spain Veterinary Healthcare Market was growing aggressively for the past 3 years and is expected to exhibit a CAGR of 6.9% from 2020 to 2025. Growing pet ownership and well being of pets in this country is majorly driving this market.
A constant pace had been noticed in the growth of the Italian veterinary healthcare market and projected to showcase a steady CAGR during the forecast period. The adoption of pets in Italy is significantly growing and offering growth possibilities to the Italian market.
Key market participants dominating 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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