Market Trends of Italy Veterinary Healthcare Industry
Vaccines Segment is Expected to Witness a Significant Growth Over the Forecast Period
- The incidence of new infections that provide an opportunity to develop new vaccines and the increased government programs are expected to propel the growth of the veterinary vaccines market in Italy during the forecast period. The Italian Ministry of Health (MOH) is the central body that deals with orientation and planning on issues related to veterinary health, food hygiene, and safety.
- For instance, in February 2022, the Italian parliament approved a law to change the Constitution of Italy to include that the state must safeguard both animals and the natural environment (ecosystems and biodiversity) in the interest of future generations. Thus, the increasing initiatives by the government are responsible for the market growth during the forecast period.
- In addition, increased usage of vaccines among livestock, as well as companion animals, boosts the demand for the product. Epidemics over previous years have caused significant losses in the animal breeding industry, propelling the demand for vaccinations. In addition, a consistent number of mergers and acquisitions and various awareness programs are expected to expand the growth potential to a significant level.
- For instance, in April 2022, World Animal Vaccination Day was celebrated, which was an initiative of HealthforAnimals and the World Veterinary Association, held each year in the run-up to European Immunization Week. On the occasion of World Animal Vaccination, FVE, FECAVA, and Animal Health Europe launched a joint appeal to professionals in the sector to make the most of the opportunities that vaccinations present in the field of animal welfare.
- Thus, with an increase in government initiatives and various strategic activities by the key players for vaccinations among animals, the studied segment is expected to witness significant growth over the forecast period.
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Dogs and Cats Segment is Anticipated to Hold a Significant Market Growth in the Italy Veterinary Healthcare Market Over the Forecast Period
- Dogs and cats are mostly considered companion animals as they provide comfort to human beings as a companion. The rising prevalence of diseases among animals and increasing companion animal ownership are expected to drive market growth. For instance, as per the FEDIAF 2022 report, the dog population in Italy was 8.7 million in 2021, and the cat population was 10.5 million in 2021. Thus, a high pet population is expected to drive the demand for veterinary health products, thereby fuelling the market growth over the forecast period.
- Moreover, as per the 14th Edition, 2021 ASSALCO-ZOOMARK REPORT, the number of veterinary clinics in Italy has risen to 9,400 in 2021, the level of specialist care offered has also risen (83% of Italian clinics provide specialist consultations, 63.8% advanced surgery). Since the number of veterinary clinics has increased, medications, including pain management, are likely to be in high demand, which is anticipated to boost the market over the forecast period.
- Thus, owing to the increase in the number of pet populations and the rise in strategic activities by the government authorities, the studied segment is likely to witness significant market growth over the forecast period.
