Moreover, the main factor adding to the growth of the European veterinary market is the rising animal adoption in European countries, coupled with growing initiatives by various governments and improved animal healthcare and improving productivity at the risk of an emerging zoonosis. The rising interest in the production of livestock animals is generating growth in the European veterinary healthcare market. According to the publisher, Europe Veterinary Healthcare Market will be US$ 8.89 Billion by 2027.
Impact of COVID-19 on Europe Veterinary Health Industry
The global outbreak of COVID-19 has impacted all industries, including veterinary healthcare. This has hit the export and import activities of veterinary medicines and diagnostics, which led to the decline in sales of veterinary industry of many products. The European Medicines Agency (EMA) designed and implemented few guidelines to ensure the availability of veterinary medicines in the European market. In 2020, according to Health for Animals article, the World Veterinary Association (WVA) and local veterinary associations in Europe declared veterinary services as ‘essential’ in the same way as human healthcare services, and therefore, many veterinarians are continuing to practice in current COVID-19 situation as well
By Product: Vaccine Segment has held the largest market share
Veterinary healthcare encompasses various veterinary healthcare products such as vaccines, Parasiticides, Antimicrobials and others. Vaccines are comprised of bacteria, viruses, or other disease-causing organisms that have been removed or altered so that they cannot cause any disease, thus, boosting immunity. The building initiatives by European governments have improved animal healthcare and led to the growing demand for veterinary vaccines. As per our research finding, Europe Veterinary Healthcare Market will grow with a CAGR of 6.42% during 2020-2027
Further, certain vaccines, Parasiticides and Antimicrobials are only available in accredited veterinary hospitals and clinics in Europe. Veterinary hospitals and clinics provide a wide range of treatment as well as diagnostic options such as advanced diagnostic imaging, novel therapies, nuclear and regenerative medicines, laser diagnostics, and specialized surgeries, available in the European vet hospitals and clinics for an animal such as Pets, Livestock, Poultry, Horses, Aquatics, Rabbits and Others
Germany, France & United Kingdom Veterinary Healthcare Market offers huge Opportunity
The veterinary healthcare market in Europe is segmented into Germany, France, the United Kingdom, Italy, Russia, Spain, and the Rest of Europe. In Germany, veterinary health is safeguarded by legislation and veterinary administration. The strict government laws related to veterinary health and the high disposable income of the German people causing increased interest in Pets, Livestock, Poultry, and Horses. Europe Animal Healthcare Market Size was US$ 5.75 Billion in 2020.
In addition, the United Kingdom veterinary healthcare industry is growing and includes therapeutic products and solutions for farm and companion animals. Companion pets like dogs and cats can be tamed or adopted for association or farm animals, and house/office guards are raised for meat and milk-related products. Companion animals include dogs, cats, and horses, and farm animals include swine, poultry, and ruminants. In 2018, according to the People's Dispensary for Sick Animals, 49% of the adults in the United Kingdom owned a pet. 25% of the adults had a pet cat, and 24% owned a pet dog
Key Players in the European Veterinary Healthcare Industry
Major players such as Elanco, Zoetis Inc., Boehringer Ingelheim International GmbH, Merck & Co., Inc. and Bayer AG are working in the European veterinary healthcare industry. To enhance their market presence, they are engaging in various growth strategies, such as partnerships, collaborations, agreements, mergers, and acquisitions. For instance, in 2020, Zoetis, a leading animal health company, further expanded its poultry vaccine portfolio by introducing Poulvac Procerta HVT-ND, a vectored recombinant vaccine for protection against Newcastle and Marek's disease viruses
This report Europe Veterinary Healthcare Market by Product (vaccines, Parasiticides, Antimicrobials and others), Animals (Pets, Livestock, Poultry, Horses, Aquatics, Rabbits and Others), Countries (Germany, France, United Kingdom, Italy, Russia, Spain, Rest of Europe), Distribution (Retail Pharmacies and Drug Stores, E-commerce, Veterinary Hospitals & Clinics), End-Users (Veterinary Hospitals, Veterinary Clinics, Others), Company Analysis (Elanco, Zoetis Inc., Boehringer Ingelheim International GmbH, Merck & Co., Inc. and Bayer AG) studies the Europe Veterinary Healthcare Industry
Products - Europe Veterinary Healthcare Market has covered from 4 viewpoints
1. Vaccine
2. Parasiticdes
3. Antimicrobials
4. Other
Animals - Europe Veterinary Healthcare Market has covered from 7 viewpoints
1. Pets
2. Livestock
3. Poultry
4. Horses
5. Aquatics
6. Rabbits
7. Others
Countries - Europe Veterinary Healthcare Market has covered from 7 viewpoints
1. Germany
2. France
3. United Kingdom
4. Italy
5. Russia
6. Spain
7. Rest of Europe
Distribution - Europe Veterinary Healthcare Market has covered from 3 viewpoints
1. Retail Pharmacies and Drug Stores
2. E-commerce
3. Veterinary Hospitals & Clinics
End-Users - Europe Veterinary Healthcare Market has covered from 3 viewpoints
1. Veterinary Hospitals
2. Veterinary Clinics
3. Others
All key players have been covered from 3 viewpoints
- Overviews
- Recent Developments
- Revenues
Company Analysis
1. Elanco
2. Zoetis Inc.
3. Boehringer Ingelheim International GmbH
4. Merck & Co., Inc.
5. Bayer AG
Table of Contents
Companies Mentioned
- Elanco
- Zoetis Inc.
- Boehringer Ingelheim International GmbH
- Merck & Co., Inc.
- Bayer AG
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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