Published Date: 2021-11-24
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European Animal Healthcare Market size is projected to reach USD 49.4 billion by 2027, according to a latest forecast report by Graphical Research.
Government of several countries are taking initiatives and special care to reduce the prevalence of food-borne zoonotic diseases and promote pet adoption. According to the recently published article, 60% of known infectious disorders and more than 75% of emerging infectious diseases are zoonotic in origin. As per the Health and Safety Executive (HSE), more than 40 potential zoonoses are transmitted in the UK. Hence, the UK government has implemented several control policies to reduce the prevalence of these diseases in the food chain and other areas. Further, in the UK, various programs have been introduced to provide consistent funding that is beneficial for vaccination programs of animals. Furthermore, government’s funding plays a significant role in the development of animal healthcare products and services, in turn contributing to the Europe animal healthcare market growth.
Modern animal healthcare products and services are usually costlier than traditional ones, making them price intensive. Hence, the federal government in the European region is focused to provide funding to make animal care affordable, thereby propelling the industry growth. In 2021, the French president announced the funding of around USD 17 million to support the care of abandoned animals. Furthermore, the availability of advanced animal surgical procedures, specialty pet services, and a rise in pet insurance will positively impact the Europe animal healthcare market size.
The medical devices segment is set to expand at a CAGR of 4.8% from 2021 to 2027. Veterinary medical devices comprising diagnostic, monitoring, and surgical equipment are widely used in the treatment of different ailments in animals. Several factors such as increasing animal healthcare expenditure, surging number of veterinary doctors, etc. are anticipated to promote segmental growth. For instance, as per the survey, in Spain, the average annual spending per household on dogs is over USD 150, while for cats the number is USD 105. Further, as per the article published in 2017, around 200,000 veterinarians were operating in Europe and the number is witnessing a consistent rise.
Browse detailed statistical insights from the report, “Europe Animal Healthcare Market Forecast 2027 By Distribution Channel (Pharmacies, Online, Distributors), By Product (Pharmaceuticals {Drugs [Antiparasitic, Anti-inflammatory, Anti-infectives], Vaccines [Modified Live Vaccines, Killed Inactivated Vaccines], Medicated Feed Additives [Antibiotics, Vitamins, Amino Acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals]}, Medical Devices {Veterinary Diagnostic Equipment, Veterinary Anesthesia Equipment, Veterinary Patient Monitoring Equipment, Veterinary Surgical Equipment, Veterinary Consumables}, Veterinary Services), By Animal Type (Livestock Animals {Poultry, Swine, Cattle, Fish}, Companion Animals {Dogs, Cats, Horses}), Research Report, Country Outlook (Germany, UK, France, Spain, Italy, Russia, Poland, The Netherlands, Sweden, Denmark, Norway), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1343/europe-animal-healthcare-market
The Europe animal healthcare market from livestock animals segment is poised to witness 5.1% CAGR between 2021 and 2027 attributed to the growing emphasis on livestock animals’ disease detection. Increasing R&D activities pertaining to veterinary therapeutics and technological advancements in veterinary medical devices are expected to create innovative solutions to enhance livestock animal’s health and welfare. Growing demand for dairy products is further projected to boost the segmental revenue upsurge. As per the European government, in 2018, approximately 21 million cows were present in European Union, averaging 7000 kg of milk produced per cow.
The online segment to exceed USD 14.9 billion by 2027 owing to rising usage of smartphones, easy access to the internet, and surging technological awareness in customers among others. Execution of the innovative technologies for connectivity purposes is anticipated to have a significant impact on the segment growth as it offers a seamless experience to the operator. The growing number of small and medium enterprises operating in the selling of animal healthcare products are significantly utilizing the online marketplace to augment business revenue. As a result, several advantages offered by online channel in the distribution of animal healthcare products is expected to promote the Europe animal healthcare market revenue.
Germany animal healthcare market to surpass USD 6.1 billion by 2027 due to the growing prevalence of zoonotic diseases and the adoption of novel initiatives by the government to promote animal health and welfare in the country. Similarly, the growing demand for animal protein in human food highlights immense the market demand. The adoption of novel strategies by the government to promote access to veterinary services and improve overall animal healthcare model in the country is expected to amplify the use of animal healthcare products. For instance, the government of Germany has implemented several initiatives comprising the animal welfare labelling program to make awareness among consumers related to overall animal health with the support of a government animal welfare label.
The European animal healthcare market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and Units from 2016 to 2027, for the following segments:
Europe Market, By Product
Europe Market, By Animal Type
Europe Market, By Distribution Channel
The above information has been provided for the following countries:
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