Market Trends of Europe Veterinary Healthcare Industry
This section covers the major market trends shaping the Europe Veterinary Healthcare Market according to our research experts:
Anti-infectives Segment is Expected to Witness High Growth Over the Forecast Period
Anti-infectives are the treatment regimen used to prevent and treat 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 Department for Environment, Food and Rural Affairs Animal and Plant Health Agency Advice Services, in November 2021, German authorities detected a fresh African swine fever outbreak in domestic pigs at a large commercial facility in the eastern state of Mecklenburg-Vorpommern. Furthermore, a German study published in September 2022 reported the incidence of diarrhea to be 18.5% and the most common disease observed in almost 14,000 neonatal calves examined on 731 German dairy herds. Additionally, according to a report published by the HM Government in September 2021, it has been observed that 45 cases of the West Nile virus were reported in Italy in September 2021. Thus, the increased prevalence of various animal diseases is expected to drive segmental growth.
Also, an increase in R&D activities for developing veterinary vaccines and antiviral drugs is expected to boost the market with novel products shortly. For instance, in May 2022, the United Kingdom National Office of Animal Health (NOAH) launched the Livestock Vaccination Guideline to support vets and farmers in improving the health and welfare of United Kingdom sheep and cattle and to support farm resilience and sustainable productivity improvements. Additionally, in April 2022, Vetoquinol launched Falpreva for veterinarians in five European markets, including Italy. Falpreva is a spot-on combination for cats that treats internal and external parasite infestations/infections, including tapeworms, for up to three months in a single dose. Such development is supposed to drive market growth.
Therefore, the factors such as the rise in the prevalence of various animal diseases and increased R&D activities are expected to drive segmental growth in the market during the forecast period.
Germany is Expected to Dominate the Europe Veterinary Healthcare Market Over the Forecast Period
Germany is expected to hold a significant market share in the studied market over the forecast period owing to factors such as rising animal adoption in Germany and growing meat export. For instance, according to the FEDIAF report 2021, Germany has a total pet population of 27,000,000, of which 10,300,000 are dogs and 16,700,000 are cats. Additionally, according to Der Deutsche Heimtiermarkt, in May 2022, the number of mixed-breed dogs increased from 42% to 44%. Thus, the rising adoption of pets in Germany is expected to increase the need for veterinary healthcare which is anticipated to drive market growth. Also according to an article published by Global Agriculture Information Network, in May 2022, Germany was a leading market for pet food products with 83 million of the world's wealthiest consumers and 34.7 million pets.
Product launches by the key market player are another factor in market growth. For instance, in July 2021, Boehringer Ingelheim revealed that the 2.0 version of the FreVAX smartphone app can be used to control the FreVAX intramuscular needle-free device. It was developed to improve communication with the FreVAX system, a pig intramuscular needle-free vaccine injection device. Also, in July 2022, Berlin-based startup Rex raised EUR 5 million to digitise vet care for a new generation of pet owners focusing on customer experience, digitized processes, and first-class care. The market under study is therefore anticipated to experience significant expansion throughout the forecast period as a result of the aforementioned factors.
Thus, owing to the factors such as rising animal adoption in Germany and launch of products coupled with investment in veterinary care, the studied market in Germany is expected to project growth over the forecast period.
