Market Size of France Veterinary Healthcare Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
France Veterinary Healthcare Market Analysis
The France Veterinary Healthcare Market is expected to witness a CAGR of 4% during the forecast period (2022-2027).
The Federation of Veterinarians of Europe in their July 2021 article indicated that the COVID-19 pandemic had greatly impacted the veterinary services in the European countries, including France, where only urgent and emergency treatment was allowed, which had a great impact on the loss of clients and revenue. The article also indicated that several veterinarians had suffered from physical and mental illness associated with the pandemic, isolation, financial restrictions, and the long-term effects of the infection. The restrictions imposed during the COVID-19 pandemic adversely affected the veterinary healthcare sector, with reductions in the number of diagnostic tests and treatments performed. Such reduction impacted the growth of the veterinary healthcare market.
Increasing demand to curb chronic and zoonotic diseases in livestock and pet animals is the key driver of this market. The global livestock population has been experiencing rapid growth over the past few decades. In developing countries like France, the demand for livestock products is increasing. Moreover, rising concerns about food security and animal husbandry are anticipated to boost demand for veterinary pharmaceuticals and vaccines for the livestock population in the forecast period.
In January 2022, following several occurrences of avian flu in France, the government ordered farmers to slaughter 2.5 million animals (H5N1). Since late November 2021, around 1.2 million birds have been slaughtered as a result of infection or as a preventative measure due to the disease's rapid spread. A large number of infections in the region require the need of proficient molecular diagnostics, which would add to the growth of the market in the forecast period.
The regional market is driven by technological advancements in veterinary health care, and this is anticipated to offer future growth opportunities. These advancements include the advent of efficient information management systems, animal owner mobile technology, and vaccine banks. A high focus on innovation in animal health has given rise to certain measures that are strengthening market growth prospects. For instance, the Innovative Medicines Initiative (IMI) is a public-private partnership to support collaborative research to boost innovation in veterinary pharmaceuticals in France.
Industry players are trying to develop innovative products such as mAbs and carrier drugs for better treatment outcomes. For instance, in November 2021, Fujifilm expanded into veterinary business with acquisition of French company DMV Imaging and launched FUJIFILM VET Systems France S.A.S.
Thus, due to the afore mentioned factors, the veterinary healthcare market in France is expected to grow significantly over the forecast period. However, lack of infrastructure and funding, use of counterfeit medicine and the rising cost of veterinary services are likely to hinder the market growth.
