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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, 2021-2026.
As per an article published on HealthforAnimals in 2020, the World Veterinary Association (WVA) and local veterinary associations in Europe declared veterinary services as ‘essential’ in the same way as human healthcare services, and therefore, many veterinarians are continuing to practice in current COVID-19 situation as well. The 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 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.
Scope of the Report
As per the scope of this report, the veterinary healthcare market comprises therapeutic and diagnostic products and solutions for companion and farm animals. Companion animals can be tamed or adopted for companionship or as house/office guards, and farm animals are raised for meat and milk-related products. Companion animals include canines, felines, and equines. Farm animals include bovine, poultry, and porcine. The Europe veterinary healthcare market is segmented by product (therapeutics (vaccines, parasiticides, anti-infectives, medical feed additives, and other therapeutics) and diagnostics (immunodiagnostic tests, molecular diagnostics, diagnostic imaging, clinical chemistry, and other diagnostics)), animal type (dogs and cats, horses, ruminants, swine, poultry, and other animals), and geography (Germany, United Kingdom, France, Italy, Spain, and Rest of Europe). The report offers the value (in USD million) for the above segments.
|By Animal Type|
|Dogs and Cats|
|Rest of Europe|
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 2013-2018, 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.
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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. In June 2018, Regeneron entered 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 the Europe veterinary healthcare market include Zoetis Animal Healthcare, Boehringer Ingelheim, Ceva, Elanco, and Vetoquinol, among others.
In October 2020, Elanco signed an agreement with Bayer’s Animal Health Business to acquire its Animal Health business in a transaction valued at USD 7.6 billion.
In January 2020, Zoetis, a leading animal health company, further expanded its poultry vaccine portfolio with the introduction of Poulvac Procerta HVT-ND, a vectored recombinant vaccine for protection against Newcastle and Marek’s disease viruses.
Table of Contents
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
220.127.116.11 Medical Feed Additives
18.104.22.168 Other Therapeutics
22.214.171.124 Immunodiagnostic Tests
126.96.36.199 Molecular Diagnostics
188.8.131.52 Diagnostic Imaging
184.108.40.206 Clinical Chemistry
220.127.116.11 Other Diagnostics
5.2 By Animal Type
5.2.1 Dogs and Cats
5.2.6 Other Animals
5.3.2 United Kingdom
5.3.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
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
6.1.9 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
6.1.15 Zoetis Animal Healthcare
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Europe Veterinary Healthcare Market market is studied from 2018 - 2026.
What is the growth rate of Europe Veterinary Healthcare Market?
The Europe Veterinary Healthcare Market is growing at a CAGR of 9.4% over the next 5 years.
What is Europe Veterinary Healthcare Market size in 2018?
The Europe Veterinary Healthcare Market is valued at 7826 Million USD in 2018.
What is Europe Veterinary Healthcare Market size in 2026?
The Europe Veterinary Healthcare Market is valued at 13392 Million USD in 2026.
Who are the key players in Europe Veterinary Healthcare Market?
Elanco, Zoetis Inc., Boehringer Ingelheim, Ceva Santé Animale, Vetoquinol SA are the major companies operating in Europe Veterinary Healthcare Market.