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Europe Animal Healthcare Market Share to HIke at 4% CAGR to 2026

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According to the Graphical Research new growth forecast report titled “Europe Animal Healthcare Market Trends By Product, Animal Type, Distribution Channel, Industry Analysis Report, Regional Outlook”, Estimated To Exceed USD 74.0 Billion by 2026. Rising government support for pet care in Europe will augment the market growth. The government regulations for animal protection and organization to stop their abuse will further enhance growth of the market. The People for the Ethical Treatment of Animals (PETA) promote adoption of animals by providing public education, cruelty investigations, animal rescue, and legislation among others.

Adoption of pet for companionship has significantly increased in the European region. According to the European Commission, more than 100 million cats and dogs are adopted presently in the European Union. Also, the government has taken initiatives for elderly by providing elderly homes, schemes, etc. Animals are chosen as their companions to provide protection and emotional support. Thus, due to increase in pet adoption, generic drugs, a suitable diet, medicines, a significant need for vaccination, and surgeries will play vital role in driving the market growth. Furthermore, animal healthcare market is growing due to increasing awareness and companionship among people and the easy provision of needful by government in the region.

However, high cost related to healthcare drugs will restrict growth of animal healthcare market in the European region.

Pharmaceuticals segment held significant market share in 2019 and is estimated to witness around 4.5% CAGR over forecasting timeframe. The extensive use of antibiotics as both therapeutic veterinary drugs and growth promoters will boost animal healthcare market growth. Also, pharmaceuticals are widely used to reduce the incidences of infections among animals. The aforementioned factors contribute to drive the pharmaceutical segment in the market during forecasting years.

Companion animals were valued over USD 32,500.0 million in 2019. The growth in this segment is attributed to increasing pet adoption and growing animal healthcare expenditure. According to the People’s Dispensary for Sick Animals in 2018, 49% of the total population in UK owned pets of which 25% were pet cats and 24% were pet dogs. Furthermore, growing concerns about pet health and well-being and rising awareness about zoonotic diseases also contributes to drive market for companion animals in the region.

Distributors account the largest market size to reach over USD 74,500.0 by 2026. This is attributed to strong geographical network and comprehensive product and service portfolio offered by the distributors, thus enhancing segmental growth.

Spain animal healthcare market is estimated to experience around 5.0% CAGR during forecasting years. The increasing awareness among pet owners regarding their pet health and initiatives taken by the government to improve pet health fuel market growth in the country. For instance, in April 2018, the government launch operations on pet ownership responsibility. The aim of operation was to increase awareness about the responsibility of the companion animals.

Major market players in market are Bayer AG, B. Braun Melsungen AG, Elanco, IDEXX Laboratories, among others. These market players have undertaken strategies such as agreement, collaborations and partnership to maintain the market competition. For instance, in May 2016, Bayer announced a strategic agreement with BioNTech AG. This agreement was envisioned to develop novel, first-in-class therapeutics and mRNA vaccines specifically for animal health applications.

Europe animal healthcare market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:

Europe Animal Healthcare Market Share, By Product, 2015-2026 (USD Million)

  • Pharmaceuticals
    • Drugs
      • Antiparasitic
      • Anti-inflammatory
      • Anti-infectives
      • Others
    • Vaccines
      • Modified live vaccines (MLV)
      • Killed inactivated vaccines
      • Others
    • Medicated feed additives
      • Antibiotics
      • Vitamins
      • Amino acids
      • Enzymes
      • Antioxidants
      • Prebiotics and probiotics
      • Minerals
      • Others
  • Medical Devices
    • Veterinary Diagnostic Equipment
    • Anesthesia Equipment
    • Patient Monitoring Equipment
    • Veterinary Surgical Equipment
    • Veterinary Consumables
    • Others
  • Veterinary Services
  • Europe Animal Healthcare Market Size, By Animal Type, 2015-2026 (USD Million)
  • Livestock animals
    • Poultry
    • Swine
    • Cattle
    • Fish
    • Others
  • Companion animals
    • Dogs
    • Cats
    • Horses
    • Others
  • Europe Animal Healthcare Market Value, By Distribution Channel, 2015-2026 (USD Million)
  • Pharmacies
  • Online
  • Distributors
  • The above information is provided for the following region and countries:
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • The Netherlands
    • Denmark
    • Russia
    • Sweden
    • Norway
    • Others