Animal healthcare focuses on effective animal health management by diagnosing and treating diseases. The outbreak of animal diseases restricts the trading of animal-origin products, increases the cost of disease management, and hampers the global economy.
The Europe animal healthcare market is estimated to be valued at US$ 14,096.3 million in 2022 and is expected to exhibit a CAGR of 4.8% during the forecast period (2022-2030).
Figure 1. Europe Animal Healthcare Market Share (%), by Animal Type, 2022
Europe Animal Healthcare Market – Key Drivers
An increase in the number of product launches by key market players for animal healthcare is expected to drive the Europe animal healthcare market growth over the forecast period. For instance, in December 2021, SeQuent Scientific, an India-based integrated pharmaceutical company, launched Halofusol 0.5 mg/ml oral solution for calves in 19 European countries. Halofusol is an oral anti-protozoal solution for the prevention and reduction of diarrhea in newborn calves.
Increasing adoption of inorganic strategies such as collaborations by key players in the market is expected to drive market growth over the forecast period. For instance, in December 2019, Vetoquinol, a France-based pharmaceutical company, announced a collaboration with Klox Technologies, a regenerative medicine company. Through this collaboration, Vetoquinol is developing and commercializing Klox’s fluorescent light energy (FLE) products in animal health.
|Base Year:||2021||Market Size in 2022:||US$ 14,096.3 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||4.8 %||2030 Value Projection:||US$ 20,578.6 Mn|
Merck & Co., Inc., Virbac, Dechra Pharmaceuticals Plc., Vetoquinol S.A., Zoetis Inc., Ceva Santé Animale, Bayer AG, Elanco, Evonik Industries AG, and Archer Daniels Midland Company
|Restraints & Challenges:||
Figure 2. Europe Animal Healthcare Market Share (%), by Country, 2022
Europe Animal Healthcare Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 has affected the economy in three main ways: by directly affecting the production and demand for drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the UAE, Egypt, and others faced problems with regard to the transportation of drugs and vaccines from one place to another. However, COVID-19 had a positive impact on the Europe animal healthcare market, owing to the increased research and development activities for COVID-19 veterinary vaccines and antiviral medicines.
Europe Animal Healthcare Market: Key Developments
On August 11, 2022, the European Animal Health Agency extended its ASF awareness campaign. African Swine Fever (ASF) is a devastating infectious disease in pigs. No vaccine exists to combat this virus. The African swine fever (ASF) outbreak in Europe is a threat to both wild and domestic pig populations, thus the animal health organization had expanded its disease awareness campaign. ASF has recently spread to two commercial farms in Russia, and 14 European nations have confirmed new cases among wild pigs.
Europe Animal Healthcare Market: Restraint
A decrease in the sales of antimicrobials for use in animals are expected to hamper the growth of the Europe animal healthcare market. For instance, in November 2021, according to the European Medical Agency, antimicrobial use in animals has been significantly reduced in European countries. Overall sales of veterinary antimicrobials in European countries were 43% lower in 2020 than in 2011, according to statistics from the 25 countries that supplied input for the entire 2011-2020 period.
Major players operating in the Europe Animal Healthcare market include Merck & Co., Inc., Virbac, Dechra Pharmaceuticals Plc., Vetoquinol S.A., Zoetis Inc., Ceva Santé Animale, Bayer AG, Elanco, Evonik Industries AG, and Archer Daniels Midland Company.