The Spain Veterinary Healthcare market is expected to register a CAGR of 9.95% during the forecast period, 2018 to 2023. Veterinary medicines are associated with treatment, diagnosis, and prevention of diseases, among animals. It covers a variety of animal species, both, in domestic and wild.
In Spain Anisakiasis is an emerging zoonosis which is caused by the fish parasitic nematode Anisakis. In Eurrope, Spain has high incidence of cases, marinated anchovies are the main food vehicle. Humans become infected by consuming raw or undercooked fish that contain viable Anisakis. Imports of fresh or refrigerated anchovy into Spain derive mainly from Italy, and Morocco. Pets have been the source of numerous human infections, such as salmonellosis, tularensis, murine typhus, monkeypox, cutaneous larvae migrans, and Human Lymphocytic Chorimeningitis Virus (HLCV) infections. The risk from zoonotic diseases is fuelling the market for veterinary healthcare. Inter-Governmental Organizations are making reforms to ensure health by the process of surveillance.
Other driving factors include Increase in Pet ownership, and intensifying consumer focus on food safety
Advances in veterinary care over the past few years have come at high price. Spain has many companies that provide pet insurance for Dog and Cat. Despite having insurance for pet, most pet owners has to pay out of pocket as many doesn’t cover pre-existing conditions and wellness and preventive care.
Also, many diseases and injuries that are diagnosed with an MRI, are available in many hospitals nationwide. Vets use this test as standard care for diagnosing and treating cancer, epilepsy, injury, etc., but the test itself also costs more, resulting in many pet owners struggling to to afford the surgery and/or treatment following the MRI, let alone the cost of the test itself. Thus, increasing cost of animal testing and veterinary services is hindering the growth of the market. Also, lack of infrastructure and funding and use of counterfeit medicines are restraining the growth of veterinary healthcare market.
There is a trend in veterinary therapeutics market due to increase average annual spending per household on pets, greater number of pets adopted, expansion of major vaccine players in the Spain, veterinary vaccines manufacturing facilities. The veterinary anti-infective market is also growing at a steady pace to combat the increasing number of infectious diseases in animals.
Major Players: Zoetis, Merck, Merial, Elanco, Bayer Animal Health, Hipra, Invesa, Super's Diana, and Ceva Sante Animale, amongst others.
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