Europe Veterinary Healthcare Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 11.47 Billion |
| Market Size (2029) | USD 16.01 Billion |
| CAGR (2024 - 2029) | 6.90 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Veterinary Healthcare Market Analysis
The Europe Veterinary Healthcare Market size is estimated at USD 11.47 billion in 2024, and is expected to reach USD 16.01 billion by 2029, growing at a CAGR of 6.90% during the forecast period (2024-2029).
The major factors driving the market's growth include the rise in pet adoptions, increasing initiatives by governments and animal welfare associations, and technological advancements in animal healthcare in the region.
In recent years, pet owners have increasingly adopted animals influenced by their interests and concerns, leading to higher demands for veterinary healthcare products in Europe, including diagnostic imaging and treatment to ensure the health and well-being of these animals. This rising pet population, coupled with changes in lifestyle patterns, increased the adoption of diagnostic imaging and medicine products for animals, boosting the growth of the veterinary healthcare market in Europe.
For instance, according to data updated by the European Pet Food Industry Federation (FEDIAF), Report 2023, the dog population in the region was over 66.8 million, while the cat population was over 77.9 million in Europe in 2023. According to the same source, in Poland, in 2023, over 49% of the households owned at least one dog, and over 40% owned a cat. The Global State of Pet Care report published by the HealthForAnimals Organization in September 2022 highlighted that over half a billion dogs and cats were adopted by families in Europe, along with the United States, Brazil, and China. The high pet ownership rates in Europe are driving the growth of the veterinary healthcare market by increasing the demand for pet healthcare therapeutics and products.
Moreover, major players in the market are working on introducing novel product launches to cater to the rising demand for veterinary products in the region. For instance, in April 2023, Bioberica launched its Atopivet Collar as one of the first alternatives to traditional topical and oral treatments for skin diseases in Spain. The collar releases its biologically derived skin health ingredients directly onto the pet's skin, which is then spread across the body through the skin's lipids.
In conclusion, the factors mentioned above, such as the rising pet population and technological advancements by key players in the market, are expected to propel the European veterinary healthcare market's growth during the forecast period. However, counterfeit medicines and the increasing cost of animal testing and veterinary therapeutics are expected to hinder the market's growth during the study period.
Europe Veterinary Healthcare Market Trends
Dogs and Cats Segment is Expected to Witness Significant Growth During the Forecast Period
- The growing population of dogs and the increasing number of pet owners have significantly boosted the European veterinary healthcare market. This trend is driven by the rising awareness of pet health and wellness, which leads to higher spending on veterinary diagnostics, medications, and preventive care.
- Pet owners are showing a growing commitment to the health and welfare of their dogs and cats, contributing to the expansion of the veterinary segment. For instance, according to a July 2023 report by the European Pet Food Industry Federation (FEDIAF), 26% of European households owned a cat, and 25% owned a dog. In Romania, over 43% of households had at least one dog, while over 48% had a cat. The report also noted a rise in cat and dog ownership from 205 million in 2021 to 231 million in 2022.
- Increased product approvals, strategic partnerships, and collaborations among key industry players drive market growth. For instance, in December 2023, Merck Animal Health received favorable feedback from the European Medicines Agency's Committee for Veterinary Medicinal Products (CVMP) for BRAVECTO (fluralaner) 150 mg/ml powder and solvent for suspension for injection for dogs. The CVMP approved this product, citing its efficacy in treating and persistently killing fleas and ticks for up to 12 months.
- In conclusion, the growth of the veterinary medicine market in Europe is propelled by the rising significance of cats and dogs in households, advancements in veterinary technology, and the expansion of pet healthcare therapeutics and products.
The United Kingdom is Expected to Hold a Significant Share in the Market During the Forecast Period
- The UK veterinary healthcare market is poised for significant growth, driven by rising product launches and increased awareness of diseases such as bartonellosis, tularemia, arthritis, cancer, and joint disorders in companion and livestock animals. The growing demand for pets, fueled by a shift toward pet adoption and purchase in households, is expected to stimulate market expansion further. The growing trend in pet ownership, coupled with a heightened emphasis on pet health and pain management, is anticipated to drive significant growth in the veterinary healthcare market during the forecast period.
- The substantial prevalence of osteoarthritis among animals in the United Kingdom is anticipated to bolster market growth. For instance, according to a report published by Vet Help Direct in March 2024, approximately one in five dogs in the United States develop osteoarthritis, a painful joint condition. Furthermore, a report published by the Frontiers in Veterinary Science in April 2024 highlighted the significant impact of chronic pain on animal health, leading to various musculoskeletal conditions. This considerable disease burden is expected to drive demand for veterinary healthcare, supporting market expansion.
- Additionally, supportive government legislation to enhance animal healthcare is expected to accelerate industry growth. For instance, in February 2023, the UK government launched an initiative to fund livestock farmers and veterinarians to improve animal health. Such initiatives are projected to spur demand for innovative diagnostic and treatment solutions, further propelling market growth during the study period.
- In conclusion, the UK veterinary healthcare market is poised for robust growth, driven by technological advancements, increased disease awareness, rising pet ownership, and supportive government legislation.
Europe Veterinary Healthcare Industry Overview
The European veterinary healthcare market is moderately competitive, with the presence of several global and international market players. In terms of market share, a few of the major players are currently dominating the market. Some prominent players are launching new products, while others are distributing the products. Some of the companies that are currently dominating the market are Boehringer Ingelheim International GmbH, Ceva Sante Animale (CEVA), ECO Animal Health Group PLC, Idexx Laboratories Inc., and MSD Animal Health.
Europe Veterinary Healthcare Market Leaders
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Boehringer Ingelheim
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Ceva Santé Animale
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ECO Animal Health Group PlC
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Idexx Laboratories, Inc.
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MSD Animal Health
*Disclaimer: Major Players sorted in no particular order
Europe Veterinary Healthcare Market News
- April 2024: VolitionRx Limited, in collaboration with Antech, introduced its Nu.Q Vet Cancer Test for in-clinic use by veterinarians throughout the United States and Europe. The Nu.Q Vet Cancer Test is an affordable and accessible screening test to aid early detection. It is a blood test for dogs in breeds with an increased risk of developing cancer.
- February 2024: VIC Group’s VIC Animal Health launched a new plant for producing sterile suspensions and powders used for treating farm animals. The company plans to produce 214,000 vials of sterile injectable suspensions, 660,000 anti-mastitis suspensions in syringes, and 142,000 vials of sterile powder.
Europe Veterinary Healthcare Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Rising number of Pet Adoptions
- 4.2.2 Increasing Initiatives by Governments and Animal Welfare Associations
- 4.2.3 Technological Advancements in Animal Healthcare
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4.3 Market Restraints
- 4.3.1 Use of Counterfeit Medicines
- 4.3.2 Increasing Pet Care Costs
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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 - USD million)
-
5.1 By Product
- 5.1.1 Therapeutics
- 5.1.1.1 Vaccines
- 5.1.1.2 Parasiticides
- 5.1.1.3 Anti-infectives
- 5.1.1.4 Medical Feed Additives
- 5.1.1.5 Other Therapeutics
- 5.1.2 Diagnostics
- 5.1.2.1 Immunodiagnostic Tests
- 5.1.2.2 Molecular Diagnostics
- 5.1.2.3 Diagnostic Imaging
- 5.1.2.4 Clinical Chemistry
- 5.1.2.5 Other Diagnostics
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5.2 By Animal Type
- 5.2.1 Dogs and Cats
- 5.2.2 Horses
- 5.2.3 Ruminants
- 5.2.4 Swine
- 5.2.5 Poultry
- 5.2.6 Other Animals
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5.3 By Geography
- 5.3.1 Germany
- 5.3.2 United Kingdom
- 5.3.3 France
- 5.3.4 Italy
- 5.3.5 Spain
- 5.3.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Boehringer Ingelheim International GmbH
- 6.1.2 Ceva Sante Animale (CEVA)
- 6.1.3 ECO Animal Health Group PLC
- 6.1.4 Elanco
- 6.1.5 Idexx Laboratories Inc.
- 6.1.6 MSD Animal Health
- 6.1.7 Vetoquinol SA
- 6.1.8 Virbac
- 6.1.9 Zoetis Inc.
- 6.1.10 Hipra
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityEurope Veterinary Healthcare Industry Segmentation
As per the report's scope, veterinary healthcare can be defined as the science associated with diagnosing, treating, and preventing animal diseases. The increasing importance of the production of livestock animals is generating growth in the veterinary healthcare market. The European veterinary healthcare market is segmented by product, animal type, and geography. The product segment is further segmented into therapeutics and diagnostics. The therapeutics segment is further segmented into vaccines, parasiticides, anti-infectives, medical feed additives, and other therapeutics, while the diagnostic segment is divided into immunodiagnostic tests, molecular diagnostics, diagnostic imaging, clinical chemistry, and other diagnostics. The animal type segment is further divided into dogs and cats, horses, ruminants, swine, poultry, and other animals. The geography segment is further divided into Germany, the United Kingdom, France, Italy, Spain, and the Rest of Europe. The report offers the value (USD) for the above segments.
| By Product | Therapeutics | Vaccines |
| Parasiticides | ||
| Anti-infectives | ||
| Medical Feed Additives | ||
| Other Therapeutics | ||
| By Product | Diagnostics | Immunodiagnostic Tests |
| Molecular Diagnostics | ||
| Diagnostic Imaging | ||
| Clinical Chemistry | ||
| Other Diagnostics | ||
| By Animal Type | Dogs and Cats | |
| Horses | ||
| Ruminants | ||
| Swine | ||
| Poultry | ||
| Other Animals | ||
| By Geography | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe |
Europe Veterinary Healthcare Market Research FAQs
How big is the Europe Veterinary Healthcare Market?
The Europe Veterinary Healthcare Market size is expected to reach USD 11.47 billion in 2024 and grow at a CAGR of 6.90% to reach USD 16.01 billion by 2029.
What is the current Europe Veterinary Healthcare Market size?
In 2024, the Europe Veterinary Healthcare Market size is expected to reach USD 11.47 billion.
Who are the key players in Europe Veterinary Healthcare Market?
Boehringer Ingelheim, Ceva Santé Animale, ECO Animal Health Group PlC, Idexx Laboratories, Inc. and MSD Animal Health are the major companies operating in the Europe Veterinary Healthcare Market.
What years does this Europe Veterinary Healthcare Market cover, and what was the market size in 2023?
In 2023, the Europe Veterinary Healthcare Market size was estimated at USD 10.68 billion. The report covers the Europe Veterinary Healthcare Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Europe Veterinary Healthcare Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key regulatory considerations for veterinary practices in the European Market?
The key regulatory considerations for veterinary practices in the European Market are a) Regulations on medication use b) Animal welfare standards
Europe Veterinary Healthcare Industry Report
The Europe Veterinary Healthcare market is on a trajectory of significant growth, driven by rising pet adoption rates and advancements in animal diagnostic technologies, alongside increased government initiatives aimed at improving animal health standards. Despite facing challenges such as surges in zoonotic diseases and regulatory complexities, the market is poised for expansion, fueled by growing awareness and diagnostic innovations. Germany is particularly notable for its robust demand, high pet ownership, and a thriving pet food product market. Key growth drivers include a surge in product launches and strategic collaborations enhancing the market's potential, with anti-infectives standing out due to their crucial role in combating animal diseases. The competitive landscape is vibrant, with numerous entities contributing to the sector's expansion through advancements in therapeutics and diagnostics, underpinned by strong R&D activities. Propelled by both public and private sector efforts, the Europe Veterinary Healthcare market is expected to continue its growth, ensuring the health and welfare of companion and farm animals across the continent, as detailed in Mordor Intelligence™ Industry Reports. Get a sample of this industry analysis as a free report PDF download.
