This report is a study of Spain’s veterinary healthcare market, recent trends, current market estimates and forecasts. The market for vaccines in Spain in 2016 was estimated to be valued at USD 372.34 million and is expected to grow at a CAGR of 9.95% between 2016 and 2021, to reach USD 598.29 million by 2021. The market for parasiticides in the region is currently valued at USD 73 million - a significant increase from 2013. Increasing focus on food safety and animal health will drive the market for medicinal feed additives to grow at a healthy CAGR of 8.45%.
Spain’s Veterinary Healthcare Market- Market Dynamics
The report discusses several factors that drive the growth of the market. Some of these are listed below.
Veterinary healthcare in Spain has had a significant boost in revenues due to a number of factors. Prominent among them are:
This report from Mordor Intelligence provides a comprehensive analysis of Spain’s veterinary healthcare market based on products and animals. By products, the market is segmented into vaccines, anti-infective, parasiticides, medicinal feed additives, and other pharmaceuticals. Based on the type of animals, the market is further segmented into farm animals (swine, poultry, cattle, sheep and fish) and companion animals (dogs, cats, and horses).
Some of the key players in the market are:
Growth strategies adopted by these players in the past have differed significantly. While a few like Zoetis and Bayer Animal Healthcare have focused on horizontal growth by expanding their presence in emerging markets, others like Elanco and Novartis Animal Healthcare have been content with operating within their established boundaries, going in for vertical growth by product innovation instead.
Key Deliverables in the Study