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The United Kingdom veterinary healthcare market was valued at USD 1350 million in 2020, and it is expected to reach USD 2425 million by 2026, registering a CAGR of nearly 9.5% during the forecast period, 2021-2026.
A slight short-term negative impact is witnessed on the United Kingdom veterinary healthcare market, primarily due to the reduced veterinary visits and the shortage of veterinary medicines during the outbreak of COVID-19. The country was in lockdown and had suspended trade with other countries and implemented travel restrictions. This affected the import and export activities of veterinary medicines and diagnostics, leading to a decline in the sales of many products. Supply disruption and medicine shortages of veterinary medicines have been observed in the country, primarily due to the temporary lockdown of manufacturing sites, export bans, and increased demand for medicines for the treatment of COVID-19.
The government is taking measures to mitigate the supply of medicines. For instance, the European Medicines Agency issued guidance for companies responsible for veterinary medicines, with respect to the adaptations to the regulatory framework, primarily to address the challenges faced during this pandemic situation.
The rising technological advancements and increasing awareness of zoonotic and foodborne diseases are key factors propelling the growth of the studied market. Bovine tuberculosis (bTB), caused by Mycobacterium bovis, is one of the most serious health problems for the cattle industry in the United Kingdom, with the British government alone spending GBP 70 million a year on disease control, with the cost to industry estimated to be a further GBP 50 million, as per the Zoonosis Report UK, 2019.
Additionally, the increasing product launches in the United Kingdom may also help the market grow. For instance, in October 2018, MSD Animal Health announced the launch of BRAVECTO Plus in the United Kingdom, which is a topical solution for cats to treat external and internal parasite infestations. Hence, owing to these factors, the market for veterinary healthcare in the United Kingdom is expected to witness rapid growth over the forecast period.
Scope of the Report
As per the scope of this report, the United Kingdom veterinary healthcare market is growing and includes therapeutic products and solutions for companion and farm animals. Companion animals can be tamed or adopted for companionship or as house/office guards, and farm animals are raised for meat and milk-related products. Companion animals include dogs, cats, and horses, among others, and farm animals include swine, poultry, and ruminants. The United Kingdom veterinary healthcare market is segmented by product (therapeutics and diagnostics) and animal type (dogs and cats, horses, ruminants, swine, poultry, and other animal types). The report offers market size and forecasts for veterinary healthcare in value (USD million) for the above segments.
|By Animal Type|
|Dogs and Cats|
|Other Animal Types|
Key Market Trends
The Molecular Diagnostics Segment Dominates the Veterinary Healthcare Market
During the pandemic, the government authorities, such as the British Veterinary Association, recommended veterinary hospitals and clinics to prioritize urgent and emergency visits and procedures. This may reduce the adoption and usage of diagnostic equipment used in veterinary healthcare management.
Molecular diagnostics refers to the class of tests performed on an animal that can assess its health at the molecular level. It identifies specific sequences in genes, DNA, RNA, and proteins and provides insights into whether the animal has a disease or may suffer from a disease in the future. Molecular diagnostic tests are faster and have more sensitivity compared to conventional tests. However, they are more expensive than other diagnostic tests.
The majority of the commercial products in the United Kingdom veterinary molecular diagnostics market are available in the form of kits. These kits are predominantly based on PCR techniques and help screen a family of related disorders. Meanwhile, the kits based on microarrays are witnessing a steady increase in their market share.
Polymerase chain reaction (PCR) has become one of the standard procedures to diagnose almost all viral diseases in veterinary medicine, owing to its high sensitivity, versatility, and reproducibility. In the past few decades, it has become an indispensable component of routine veterinary diagnostics. In veterinary sciences, the identification and control of pathogens in poultry, domestic, and wild animals represent continuous challenges.
Moreover, many diagnostic techniques have been developed to detect individual infectious agents to identify and confirm pathogens or genetic elements. The latest molecular diagnostic technologies are more advantageous, as they offer high throughput results, are more sensitive, and require less time.
Moreover, the market players are focusing on frequent product launches, which is driving the growth of the market studied. For instance, in December 2019, Agri-Food and Biosciences Institute launched a new bovine respiratory virus PCR test for various respiratory disease viruses in cattle, such as Bovine Respiratory Syncytial Virus (BRSV), Infectious Bovine Rhinotracheitis (IBR), and Parainfluenza virus type 3 (PI3), in Europe, including the United Kingdom.
Also, in March 2019, MiDOG LLC launched its new All-in-One Microbial Test based Next-Generation DNA Sequencing (NGS). The test identifies all aerobic and anaerobic bacteria and fungi, as well as antibiotic resistance in dogs. Thus, such product launches are likely to have a positive impact on the segment growth.
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The United Kingdom veterinary healthcare market has been rapidly evolving since the past few years, where technology concerning biotech, genomics, artificial intelligence, cloud computing, and Big Data witnessed significant growth, which resulted in competition among large animal health companies and collaborations with technologically advanced startups. Moreover, the industry has observed significant mergers and acquisitions in recent years. Thus, the market studied is highly competitive.
- In July 2020, Boehringer Ingelheim acquired the Belgian biotech company, GST, to strengthen stem cell capabilities in animal health.
- In January 2020, IDEXX launched a rapid digital cytology service to further accelerate the delivery of its veterinary healthcare system.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Advanced Technology Leading to Innovations in Animal Healthcare
4.2.2 Increasing Pet Ownership
4.2.3 Increasing Productivity at the Risk of Emerging Zoonosis
4.3 Market Restraints
4.3.1 Use of Counterfeit Medicines
4.3.2 Increasing Costs of Animal Testing and Veterinary Services
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value)
5.1 By Product
18.104.22.168 Medical Feed Additives
22.214.171.124 Other Therapeutics
126.96.36.199 Immunodiagnostic Tests
188.8.131.52 Molecular Diagnostics
184.108.40.206 Diagnostic Imaging
220.127.116.11 Clinical Chemistry
18.104.22.168 Other Diagnostics
5.2 By Animal Type
5.2.1 Dogs and Cats
5.2.6 Other Animal Types
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Bayer Healthcare
6.1.2 Biomax Veterinary & Pharmaceutical Company
6.1.3 Boehringer Ingelheim
6.1.4 Ceva Animal Health Inc.
6.1.6 ECO Animal Health
6.1.7 Elanco (Eli Lilly and Company)
6.1.8 KRKA UK Ltd
6.1.9 MSD Animal Health
6.1.10 TVM UK
6.1.11 Vetoquinol UK Limited
6.1.12 Virbac Corporation
6.1.13 Zoetis Animal Healthcare
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The United Kingdom Veterinary Healthcare Market market is studied from 2018 - 2026.
What is the growth rate of United Kingdom Veterinary Healthcare Market?
The United Kingdom Veterinary Healthcare Market is growing at a CAGR of 9.5% over the next 5 years.
Who are the key players in United Kingdom Veterinary Healthcare Market?
- Bayer AG
- Boehringer Ingelheim
- MSD Animal Health
- Virbac Corporation
- Ceva Santé Animale
Are the major companies operating in United Kingdom Veterinary Healthcare Market.