Europe Animal Healthcare Market CAGR Insights Emerging 4.5% By 2027
Europe Animal Healthcare Market, By Animal Type (Livestock Animals and Companion Animal), By Route of Administration (Oral, Topical, and Injectable), By Indication (Infectious Disease, Pain, Autoimmune Disease, and Others), and by Country (U.K., Germany, France, Spain, Russia, Switzerland, Netherlands, Italy, and Rest of Europe), is estimated to be valued at US$ 13,119.7 million in 2020 and is expected to exhibit a CAGR of 4.5% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
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Increasing approvals and launches by market players is expected to augment the market growth
Key players in the market are focused on launches and approvals of products in order to provide affordable treatment options, which is expected to propel growth of the market. For instance, in April 2019, Vetoquinol S.A. launched Flexprofen, a generic chewable tablet consisting of carprofen, which acts as a non-steroidal anti-inflammatory (NSAID) for treatment of dogs suffering from postoperative pain due to orthopedic surgeries. Moreover, in September 2015, Oculus Innovative Sciences, Inc. launched MicrocynAH Anti-Itch Spray Gel and MicrocynAH Hot Spot Spray Gel, which helps in relieving itchiness and pain associated with skin diseases in animals such as dogs, cats, horses, rabbits, and livestock.
Increasing transmission of zoonotic pathogens to humans working in close proximity of infected animals is expected to aid in growth of the Europe animal healthcare market. Europe has witnessed a substantial increase in zoonotic diseases, which has led to high demand for animal vaccines in the region. For instance, according to the European Centre for Disease Prevention and Control (ECDC), in 2017, around 381 cases of brucellosis were reported in Europe, in which Greece, Italy, and Spain accounted for around 67.2% of all brucellosis cases reported in Europe.
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Global Europe Animal Healthcare Market – Impact of Coronavirus (Covid-19) Pandemic
The Food and Agriculture Organization of the United Nations provided guidelines to mitigate the impact of the COVID-19 pandemic on livestock production and animal health, which included the following recommendations for the livestock farmers to prevent spread of the coronavirus infection:
- Communication with professional service providers such as milk collectors, and suppliers of feed and consumables should be established to find solutions to secure supplies, inputs, and services
- Communication through producer cooperatives or farmers associations for obtaining necessary exemptions for mobilization of animals, products, and personnel
- Explore alternative sales channels such as online sales, e-commerce, and direct sales, and use point-to-point transportation to deliver livestock and related products to buyers
- The farmers should obtain latest information on the evolving COVID-19 situation from trusted sources such as radio programs provided by local governments, official news releases, livestock market officers, veterinary pharmacies, farmers associations, and others
- Implementation of practical biosafety and biosecurity measures to prevent human contamination with COVID-19 in the farm. These measures include:
- Installation of footbaths and changing the disinfectant frequently
- A designated area should be maintained for external visitors; visitor interactions with farm workers should be restricted
- Consultation with animal health professionals to improve biosecurity and biosafety in the farm
Browse 38 Market Data Tables and 27 Figures spread through 183 Pages and in-depth TOC on “Europe Animal Healthcare Market – By Animal Type (Livestock Animals and Companion Animal), By Route of Administration (Oral, Topical, and Injectable), By Indication (Infectious Disease, Pain, Autoimmune Disease, and Others), and by Country (U.K., Germany, France, Spain, Russia, Switzerland, Netherlands, Italy, and Rest of Europe) – Global Forecast to 2027”
To know the latest trends and insights prevalent in the Europe animal healthcare market press release, click the link below: https://www.coherentmarketinsights.com/press-release/europe-animal-healthcare-market-3474
Furthermore, increasing number of partnerships and collaborations among market players for the development of new products and rising awareness regarding animal health are expected to drive the market growth over the forecast period. For instance, in March 2017, Boehringer Ingelheim Animal Health and Novozymes entered into a strategic agreement for the development and commercialization of probiotic products for poultry production.
Key Takeaways of the Europe Animal Healthcare Market:
- The Europe animal healthcare market is expected to exhibit a CAGR of 4.5% over the forecast period, owing to increasing animal population such as dogs, cats, cattle, and others, thereby driving demand for animal healthcare services. For instance, according to PetSecure, a pet insurance provider, there were around 7,570,000 dogs and 11,480,000 cats in France during 2017-2018.
- Among animal type, the livestock animal segment held a dominant position in the Europe animal healthcare market in 2018. The major driver for growth of the segment is increasing number of livestock animals in Europe, owing to rising demand for animal protein products such as milk and meat. For instance, according to the Food and Agricultural Organization of the United Nation, in 2018, the sheep population increased from 1,098,662 in 2006 to 1,173,354 in 2016.
- Among route of administration, the oral segment held a dominant position in the Europe animal healthcare market in 2018, owing to increasing number of partnerships and collaborations for development of new products and rising awareness about animal health. For instance, in February 2019, ECO Animal Health Ltd., a subsidiary of ECO Animal Health Group plc, entered into a worldwide exclusive poultry vaccine development and licensing deal with Ghent University.
- Companies 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.
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