Europe Animal Healthcare Market, by Animal Type (Livestock {Bovine, Porcine, Poultry, and Other} and Companion {Canine, Feline, and Equine}), by Route of Administration (Oral, Topical, and Injectable {Subcutaneous Injections, Intramuscular Injections, Intravenous Injections, Intra-peritoneal Injections, and Others}), by Indication (Infectious Diseases, Pain, Auto-immune Disease, and Others), and by Country (Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe) 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), as highlighted in a new report published by Coherent Market Insights.
An increase in the prevalence of African swine fever (ASF) in wild boar is expected to drive market growth over the forecast period. For instance, according to the Europe Commission Animal Disease Information System (ADIS), from January 2021 to November 2021, there were 12,150 cases of ASF in wild boar. African swine fever (ASF) is a deadly viral hemorrhagic disease that affects both domestic and wild pigs and boars of all ages and sexes. The disease causes significant economic losses, endangering food security and secure trade, and poses a barrier to sustained swine production in affected countries.
Moreover, the increasing adoption of inorganic strategies such as acquisitions by key players is expected to drive market growth over the forecast period. For instance, in June 2022, Orion Corporation, a Finland-based manufacturer of human and veterinary pharmaceutical products company, acquired Inovent’s, a Belgium-based veterinary pharmaceutical company, animal health business. Orion acquired Inovent’s wholly-owned subsidiary V.M.D. NV, a veterinary pharmaceuticals company specialized in medicines and health products for livestock. V.M.D. is headquartered in Arendonk, Belgium. Through this acquisition, Orion's Animal Health division will increase its veterinary product portfolio, get access to the cattle industry, and establish itself in Western Europe.
Europe Animal Healthcare Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the Europe animal healthcare market, owing to the increasing government initiatives for the development of COVID-19 veterinary vaccines. For instance, in March 2021, the Russian government registered a vaccine to protect animals from COVID-19. Cornivac-Cov is the first COVID-19 vaccine for animals. Clinical trials of Carnivac-Cov involved dogs, cats, Arctic foxes, minks, foxes, and other animals.
Europe Animal Healthcare Market: Key Developments
In November 2021, Vimian Group, a Sweden-based veterinary company, acquired Freelance Surgical, a U.K.-based provider of veterinary surgical products. Freelance Surgical formed part of Movora, the operating company within Vimian Group’s MedTech segment.
Browse 17 Market Data Tables and 15 Figures spread through 195 Pages and in-depth TOC on “Europe Animal Healthcare Market”- Forecast to 2030, Europe Animal Healthcare Market by Animal Type (Livestock {Bovine, Porcine, Poultry, and Other} and Companion {Canine, Feline, and Equine}), by Route of Administration (Oral, Topical, and Injectable {Subcutaneous Injections, Intramuscular Injections, Intravenous Injections, Intra-peritoneal Injections, and Others}), by Indication (Infectious Diseases, Pain, Auto-immune Disease, and Others), and by Country (Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/animal-healthcare-market-550
Increase in product launches by market players is expected to boost market growth over the forecast period.
For instance, in April 2022, Vetoquinol, a France-based pharmaceutical company, launched Felpreva. Felpreva is a combination for cats, which treats both internal and external parasite infestations/infections, including tapeworms, for up to three months in a single dose.
Key Takeaways of the Europe Animal Healthcare Market:
- Europe animal healthcare market is expected to exhibit a CAGR of 4.8 % during the forecast period, due to increasing product launches by market players. For instance, in October 2020, Boehringer Ingelheim, a Germany-based pharmaceutical company, launched Purevax’s 0.5 ml presentation. Reduced vaccine volume for cat vaccination convenient, allowing for a more gentle immunization experience for feline patients.
- Among the route of administration, the intravenous injection segment is expected to exhibit the highest CAGR in the Europe animal healthcare market during the forecast period. This is attributed to increasing product launches and approvals by regulatory authorities. For instance, November 2020, Zoetis, U.S. based pharmaceutical company received European Commission marketing authorization Librela. Librela contains bedinvetmab, a monoclonal antibody as API (Active Pharmaceutical Ingredient) and it is the first injectable monoclonal antibody authorized for alleviation of osteoarthritis pain in dogs
- On the basis of country, Germany is estimated to account for the largest market share in the Europe animal healthcare market, due to an increase in product approvals by regulatory authorities. For instance, in February 2020, Boehringer Ingelheim, a Germany-based pharmaceutical company, received approval for Aservo EquiHaler from the European Commission. Aservo EquiHaler is a product for horses suffering from severe equine asthma. It is an anti-inflammatory medicine that contains Ciclesonide as an active ingredient.
- 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.
