Europe Animal Healthcare Market

The Europe animal healthcare market is estimated to be valued at USD 15,270.3 Mn in 2024 and is expected to exhibit a CAGR 5.1% during the forecast period (2024-2031). The animal healthcare market in Europe is expected to grow at a significant rate over the next decade. There is growing awareness among pet owners regarding animal wellness and preventive healthcare. Pet insurance and growing expendable income have enabled owners to spend more on vet care and services. Furthermore, advancements in veterinary medicines and diagnostic technologies have improved treatment outcomes for various animal illnesses and diseases. Various regions in Europe have also implemented stringent regulations regarding animal welfare and standards of care, contributing to market expansion. Overall, the improving economic conditions and changing consumer attitudes toward pets will likely drive the animal healthcare industry in the European region.

Market Dynamics:

The Europe animal healthcare market is witnessing robust growth driven by several factors. Rising pet adoption in countries such as the U.K., Germany, and France due to changing social trends has augmented the demand for vaccination, pharmaceuticals, and diagnostic services. Additionally, growing pet insurance penetration providing coverage for vet expenses has encouraged owners to utilize preventive healthcare regularly. Furthermore, launch of novel pet care products and rapid approval of veterinary drugs are supporting the treatment of various diseases. However, strict regulations surrounding the approval and use of animal drugs pose a challenge. Moreover, high costs associated with R&D of animal health solutions restrain market growth. Nonetheless, increasing awareness about zoonotic diseases presents lucrative opportunities for key players.

Key Features of the Study:

• This report provides an in-depth analysis of the Europe animal healthcare market, and provides market size (USD Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the Europe animal healthcare market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study Merck & Co., Inc., Virbac, Dechra Pharmaceuticals, Vetoquinol S.A., Zoetis Inc., Ceva Santé Animale, Bayer AG, Elanco, Evonik Industries AG, Archer Daniels Midland Company, Cargill, Incorporated, SeQuent Scientific Ltd., Hester Biosciences, and Bioiberica S.A.U
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The Europe animal healthcare market caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Europe animal healthcare market

Detailed Segmentation-

• By Drug Type:
• • Anti-Infective Agents
  • Anti-Inflammatory & Analgesic Agents
  • Parasiticides
  • Vaccines
  • Hormones & Substitutes
  • Others
• By Animal Type:
• • Livestock 
    • Bovine
    • Porcine
    • Poultry
    • Other
  • Companion 
    • Canine
    • Feline
    • Equine
• By Indication:
• • Infectious Diseases
  • Pain Management
  • Auto-immune Disease
  • Others
• Company Profiles:
• • Merck & Co., Inc.
  • Virbac
  • Dechra Pharmaceuticals
  • Vetoquinol S.A.
  • Zoetis Inc.
  • Ceva Santé Animale
  • Bayer AG
  • Elanco
  • Evonik Industries AG
  • Archer Daniels Midland Company
  • Cargill, Incorporated
  • SeQuent Scientific Ltd.
  • Hester Biosciences
  • Bioiberica S.A.U