Italy Veterinary Healthcare Market Size

Italy Veterinary Healthcare Market Analysis

The Italy veterinary healthcare market is expected to register a CAGR of 5% over the forecast period.

• The COVID-19 pandemic affected the entire healthcare sector, including animal healthcare. During the pandemic, the adoption of animals in Italian households drastically increased. For instance, in February 2022, the Ente Nazionale Protezione Animali (ENPA), the Italian Society for Animal Rights, Protection, and Welfare, reported that pet adoptions increased by more than 15% in the course of the pandemic.
• Compared to 2019, in 2020, there were 8,100 dogs and 9,500 cats that found a home. Thus, an increase in the adoption of pets positively impacted the veterinary healthcare market in Italy. On the contrary, many veterinary clinics were shut down due to the lockdown in Italy, which slightly impacted the growth of the market. Since the pandemic restrictions were eased, the studied market is gaining its pre-pandemic sales and is expected to continue its normal growth in the coming years due to the increase in the adoption of animals coupled with advancements in veterinary healthcare products.
• Factors such as an increase in pet adoption and advanced technologies leading to innovations in animal healthcare are expected to bolster market growth over the forecast period. For instance, in 2021, as per the estimates of the European Pet Food Industry, the Italians owned approximately 30 million fish at home, representing the most numerous pets in the country. Moreover, there were 13 million birds, over 10 million cats, and roughly nine million dogs living in Italian households. Thus, due to the rising adoption of pets/animals by Italian households, the market studied is expected to witness significant growth in the coming years.
• Also, there are few organizations creating awareness about various diseases in animals. Also, many government initiatives are on the rise to provide shelter and welfare for animals in Italy. For instance, in December 2021, the Italian Senate Budget Committee approved an amendment that will shut down the country's 10 remaining fur farms within six months, making Italy the 16th country in Europe to ban fur farming. The approved amendment includes an immediate ban on the breeding of fur-bearing animals, including mink, foxes, raccoon dogs, and chinchillas, and the closure of all active fur farms in Italy by 30 June 2022.
• Thus, owing to the increase in the animal population and government initiatives for animal welfare, the studied market is expected to witness significant growth in Italy over the forecast period. However, the lack of veterinarians and the high costs associated with the veterinary healthcare practice are the major factors restraining the growth of the veterinary healthcare market in Italy.