Report Code: CMI23410

Published Date: April 2023

Pages: 220+

Category: Healthcare

Report Snapshot

CAGR: 4.5%
39.50B
2022
41.65B
2023
56.68B
2030

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Europe
Largest Market: Europe

Major Players

  • Zoetis Inc.
  • Elanco,
  • Merck & Co. Inc.
  • Boehringer Ingelheim International GmbH
  • Bayer AG
  • Virbac
  • Others

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Reports Description

As per the current market research conducted by Custom Market Insight Market Research Team, the global Europe Animal Healthcare market is expected to record a CAGR of 4.5% from 2023 to 2030. In 2023, the market size is projected to reach a valuation of USD 41.65 billion. By 2030, the valuation is anticipated to reach US$ 56.68 billion.

The Europe Animal Healthcare market refers to the industry that provides a range of products and services related to the health and well-being of animals in Europe. This market includes pharmaceuticals, vaccines, diagnostics, feed additives, and other products that are used for the prevention and treatment of diseases in both pets and livestock.

The animal healthcare market in Europe is driven by various factors, such as the increasing pet adoption rate, the growing demand for animal-based products, and the rising prevalence of zoonotic diseases. It is a significant market that plays a vital role in ensuring the health and welfare of animals in Europe.

Europe Animal Healthcare Market – Significant Growth Factors

There are several significant growth drivers for the Europe Animal Healthcare Market, including:

  • Increase in pet adoption rate: The high per-capita income in Europe has led to an increase in pet ownership, resulting in a rise in demand for animal healthcare products and services.
  • Growing demand for animal-based products: The demand for animal-based products, such as meat, milk, and eggs, has been steadily increasing in Europe, leading to a rise in demand for animal healthcare products that can ensure the health and well-being of livestock.
  • Rise in prevalence of zoonotic diseases: The occurrence of zoonotic diseases, which can spread from animals to humans, has been increasing in Europe. This has resulted in a higher demand for animal healthcare products and services to prevent and treat these diseases.
  • Technological advancements in animal healthcare: The development of new technologies and treatments for animal diseases has led to an increase in demand for animal healthcare products and services.
  • Government initiatives to promote animal health: Governments in Europe are taking steps to improve animal health and welfare, leading to an increase in demand for animal healthcare products and services.

Overall, these growth drivers are expected to contribute significantly to the growth of the Europe Animal Healthcare market in the coming years.

Attributes Value
Europe Animal Healthcare Market Expected Value (2023) USD 41.65 billion
Europe Animal Healthcare Market Forecast Value (2030) US$ 56.68 billion
Europe Animal Healthcare Market Expected CAGR (2023 to 2030) 4.5%

Europe Animal Healthcare Market – Mergers and Acquisitions

The Europe Animal Healthcare market has seen a significant number of mergers and acquisitions in recent years. Some notable ones include:

  1. Zoetis Inc. acquired PHARMAQ, a leading global aquaculture health company, in 2015. This acquisition helped Zoetis expand its presence in the fast-growing aquaculture market.
  2. Elanco Animal Health acquired the animal health business of Bayer AG in 2020 for $7.6 billion. This acquisition helped Elanco become the second-largest animal health company in the world.
  3. Boehringer Ingelheim acquired Merial, the animal health business of Sanofi, in 2017. This acquisition helped Boehringer Ingelheim become the second-largest animal health company in the world.
  4. Ceva Santé Animale acquired Polchem, a Polish animal health company, in 2019. This acquisition helped Ceva expand its presence in the Central and Eastern Europe market.
  5. Virbac acquired SentrX Animal Care, a US-based animal health company, in 2020. This acquisition helped Virbac expand its product portfolio in the US market.

Overall, these mergers and acquisitions have helped companies in the Europe Animal Healthcare market expand their presence in new markets, diversify their product portfolios, and improve their competitiveness.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Europe Animal Healthcare Market US Animal Healthcare Market Global Animal Healthcare Market
CAGR 4.5% (Approx) CAGR 10.3%

(Approx)

10.7%

(Approx)

US$ 56.68 billion by 2030 US$ 11.3 Billion by 2030 USD 94.8 Billion by 2030.

Europe Animal Healthcare Market – Significant Threats

The Europe Animal Healthcare Market faces several significant threats, including:

  1. Stringent regulations: The animal healthcare market is subject to strict regulations governing the safety and efficacy of animal healthcare products. Non-compliance with these regulations can lead to heavy fines, product recalls, and damage to the reputation of the company.
  2. The outbreak of animal diseases: The outbreak of animal diseases can have a severe impact on the animal healthcare market, leading to a decline in demand for animal healthcare products and services.
  3. Competition from generics: The availability of low-cost generic versions of animal healthcare products can pose a significant threat to companies in the animal healthcare market.
  4. Price sensitivity: The animal healthcare market is highly price-sensitive, and companies must price their products competitively to remain profitable.
  5. Economic downturns: Economic downturns can lead to a decline in demand for animal healthcare products and services as pet owners and farmers may cut back on non-essential expenses.

Overall, these threats highlight the challenges faced by companies operating in the Europe Animal Healthcare market, and they must develop effective strategies to mitigate these risks and remain competitive in the market.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 41.65 Billion
Projected Market Size in 2030 USD 56.68 Billion
Market Size in 2022 USD 39.50 Billion
CAGR Growth Rate 4.5% CAGR (2022-2030)
Base Year 2023
Forecast Period 2024-2033
Key Segment By Distribution Channel, Product, Animal Type, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Product:

In 2022, the veterinary services segment in Europe was valued at USD 19.5 billion, which can be attributed to the increasing demand for services such as animal training, day care, and grooming. These services play a crucial role in safeguarding animal health and welfare. Additionally, the rise in zoonotic diseases has resulted in a significant surge in demand for veterinary services. The UK alone has reported significant economic losses due to such diseases. Moreover, the increasing demand for animal-based products has also contributed to the demand for these services to ensure the welfare of animals.

By Animal Type:

The companion animals segment dominated the Europe Animal Healthcare market in 2022, accounting for over 58% of the market share. This significant share can be attributed to favorable government initiatives for animal health, advancements in companion animal healthcare facilities, and the increasing trend of pet adoption. The market growth is further propelled by the rise in pet adoption and increased spending on pet healthcare due to higher disposable income. According to the European Pet Food Industry data, approximately 85 million households across the European Union own at least one pet. Additionally, the usage of pets in films and ad campaigns has increased the overall attraction towards pet adoption among the European population.

By Distribution Channel:

The pharmacies segment of the Europe Animal Healthcare market is expected to generate revenue of USD 16.5 billion by 2030. The growing consumption of animal healthcare medications is a crucial factor driving the growth of this segment.

The increasing number of livestock and companion animals, rising instances of animal surgeries, and a surge in zoonotic diseases are some of the factors contributing to the growth of the pharmacies segment. Additionally, a large number of consumers prefer the convenience of having veterinary pharmacies located in their vicinity to fulfill their animal healthcare needs.

Europe Animal Healthcare Market 2023–2032 (By Billion)

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Europe Animal Healthcare Market – Regional Analysis

Europe is a significant region for the animal healthcare market. The region is divided into several key countries, including the UK, Germany, France, Italy, Spain, and the Rest of Europe.

  • The UK accounted for a significant share of the Europe Animal Healthcare market in 2020, owing to the high number of pet owners and favorable government initiatives for animal health. Additionally, the presence of major players in the region is expected to drive the market growth.
  • Germany is also a prominent player in the Europe Animal Healthcare market, owing to the increasing trend of pet ownership and the growing awareness of animal health. The country has a high number of livestock and companion animals, which creates significant demand for animal healthcare products and services.
  • France is another important market in the region, driven by the high consumption of animal-based products, favorable government initiatives for animal health, and increasing pet adoption. Additionally, the presence of major players in the country is expected to further propel the market growth.
  • Italy and Spain also contribute significantly to the European Animal Health Market, owing to the high number of livestock and companion animals in the region. The demand for animal healthcare products and services is expected to rise due to the increasing awareness of animal health and the growing trend of pet ownership in these countries.

Europe Animal Healthcare Market 2023–2032 (By Distribution Channel)

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Competitive Landscape – Europe Animal Healthcare Market

The Europe Animal Healthcare market is highly competitive and fragmented, with several major players competing for market share. Some of the key players operating in the market include

  • Zoetis Inc.
  • Elanco,
  • Merck & Co. Inc.
  • Boehringer Ingelheim International GmbH
  • Bayer AG
  • Virbac
  • Ceva Santé Animale
  • Vetoquinol
  • Dechra Pharmaceuticals PLC
  • IDEXX Laboratories Inc.
  • Others

These companies are focusing on various growth strategies, such as partnerships, collaborations, mergers and acquisitions, and new product launches, to strengthen their position in the market. For instance, in 2020, Zoetis Inc. completed the acquisition of Performance Livestock Analytics, a livestock analytics software company. This acquisition is expected to enhance the company’s digital and data analytics capabilities in the livestock sector. Similarly, in 2021, Elanco completed the acquisition of Kindred Biosciences, a biopharmaceutical company. This acquisition is expected to strengthen Elanco’s position in the companion animal market by expanding its pipeline of innovative products.

Other key players in the market are also investing in research and development activities to introduce new and innovative products in the market. These companies are also expanding their geographic presence through strategic partnerships and collaborations with local players.

Europe Animal Healthcare Market 2023–2032 (By Animal Type)

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The Europe Animal Healthcare Market is segmented as follows:

By Product

  • Pharmaceuticals
  • Vaccines
  • Medical Devices
  • Veterinary Services

By Animal Type

  • Livestock Animals
  • Companion Animals

By End-Use

  • Point-of-care/In-house Testing
  • Hospitals & Clinics
  • Others

By Distribution Channel

  • Retail
  • E-commerce
  • Hospital Pharmacies

Based on Geography

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Europe Animal Healthcare Market, (2024 – 2030) (USD Billion)
    • 2.2 Europe Animal Healthcare Market : snapshot
  • Chapter 3. Europe Animal Healthcare Market – Industry Analysis
    • 3.1 Europe Animal Healthcare Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increase in pet adoption rate
      • 3.2.2 Growing demand for animal-based products
      • 3.2.3 Rise in prevalence of zoonotic diseases
      • 3.2.4 Technological advancements in animal healthcare.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Distribution Channel
      • 3.7.2 Market attractiveness analysis By Product
      • 3.7.3 Market attractiveness analysis By Animal Type
  • Chapter 4. Europe Animal Healthcare Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Europe Animal Healthcare Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Europe Animal Healthcare Market – Distribution Channel Analysis
    • 5.1 Europe Animal Healthcare Market overview: By Distribution Channel
      • 5.1.1 Europe Animal Healthcare Market share, By Distribution Channel, 2022 and 2030
    • 5.2 Pharmacies
      • 5.2.1 Europe Animal Healthcare Market by Pharmacies, 2024 – 2030 (USD Billion)
    • 5.3 Online
      • 5.3.1 Europe Animal Healthcare Market by Online , 2024 – 2030 (USD Billion)
    • 5.4 Distributors
      • 5.4.1 Europe Animal Healthcare Market by Distributors, 2024 – 2030 (USD Billion)
  • Chapter 6. Europe Animal Healthcare Market – Product Analysis
    • 6.1 Europe Animal Healthcare Market overview: By Product
      • 6.1.1 Europe Animal Healthcare Market share, By Product, 2022 and 2030
    • 6.2 Pharmaceuticals
      • 6.2.1 Europe Animal Healthcare Market by Pharmaceuticals , 2024 – 2030 (USD Billion)
    • 6.3 Vaccines
      • 6.3.1 Europe Animal Healthcare Market by Vaccines, 2024 – 2030 (USD Billion)
    • 6.4 Medical Devices
      • 6.4.1 Europe Animal Healthcare Market by Medical Devices, 2024 – 2030 (USD Billion)
    • 6.5 Veterinary Services
      • 6.5.1 Europe Animal Healthcare Market by Veterinary Services, 2024 – 2030 (USD Billion)
  • Chapter 7. Europe Animal Healthcare Market – Animal Type Analysis
    • 7.1 Europe Animal Healthcare Market overview: By Animal Type
      • 7.1.1 Europe Animal Healthcare Market share, By Animal Type, 2022 and 2030
    • 7.2 Livestock Animals
      • 7.2.1 Europe Animal Healthcare Market by Livestock Animals, 2024 – 2030 (USD Billion)
    • 7.3 Companion Animals
      • 7.3.1 Europe Animal Healthcare Market by Companion Animals, 2024 – 2030 (USD Billion)
  • Chapter 8. Europe Animal Healthcare Market – Regional Analysis
    • 8.1 Europe Animal Healthcare Market Regional Overview
    • 8.2 Europe Animal Healthcare Market Share, by Region, 2022 & 2030 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Zoetis Inc.
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Elanco
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Merck & Co. Inc.
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Boehringer Ingelheim International GmbH
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Bayer AG
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Virbac
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Ceva Santé Animale
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Vetoquinol
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Dechra Pharmaceuticals PLC
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 IDEXX Laboratories Inc.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Others.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
List Of Figures

Figures No 1 to 20

List Of Tables

Tables No 1 to 2

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

  • Zoetis Inc.
  • Elanco,
  • Merck & Co. Inc.
  • Boehringer Ingelheim International GmbH
  • Bayer AG
  • Virbac
  • Ceva Santé Animale
  • Vetoquinol
  • Dechra Pharmaceuticals PLC
  • IDEXX Laboratories Inc.
  • Others

FAQs

The key factors driving the market are Increase in pet adoption rate, Growing demand for animal-based products, Rise in prevalence of zoonotic diseases and Technological advancements in animal healthcare.

The key players operating in the Europe Animal Healthcare market are Zoetis Inc., Elanco, Merck & Co. Inc., Boehringer Ingelheim International GmbH, Bayer AG, Virbac, Ceva Santé Animale, Vetoquinol, Dechra Pharmaceuticals PLC, IDEXX Laboratories Inc., Others.

The Europe Animal Healthcare market is expanding growth with a CAGR of approximately 4.5% during the forecast period (2023 to 2030).

The Europe Animal Healthcare market size was valued at USD 41.65 Billion in 2023 and it is projected to reach around USD 56.68 Billion by 2032.

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