Europe Veterinary Healthcare Market Outlook to 2030

Europe Veterinary Healthcare Market Overview

• In 2023, the Europe Veterinary Healthcare Market was valued at USD 9.8 billion, driven by increasing pet ownership, rising awareness of animal health, and advancements in veterinary diagnostics and treatments. The market is segmented into pharmaceuticals, vaccines, and medical devices, with pharmaceuticals being the most dominant due to their widespread use in disease prevention and treatment.
• Major players in the Europe Veterinary Healthcare Market include Zoetis Inc., Boehringer Ingelheim Animal Health, Elanco Animal Health, Merck Animal Health, and Virbac. These companies are recognized for their diverse product portfolios, strong focus on research and development, and investment in the veterinary sector. Zoetis Inc. leads the market with its comprehensive range of animal health products, known for their quality and effectiveness.
• In Western Europe, the United Kingdom, Germany, and France are prominent markets, driven by high pet ownership rates, advanced veterinary infrastructure, and a strong preference for preventive healthcare. These countries are characterized by a mature veterinary healthcare market with consumer spending on advanced diagnostics, treatments, and wellness products.
• In 2023, Boehringer Ingelheim Animal Health launched a new line of biopharmaceuticals targeting specific animal diseases, aimed at enhancing the efficacy and safety of treatments. This innovation underscores the ongoing shift towards precision medicine in the veterinary field, reflecting broader trends in healthcare towards targeted and personalized treatment options.

Europe Veterinary Healthcare Market Segmentation

The Europe Veterinary Healthcare Market can be segmented by product type, end user, and region:

• By Product Type: The market can be segmented by product type into Pharmaceuticals, Vaccines and Medical Devices. In 2023, pharmaceuticals remain the most dominant product type due to their essential role in disease management and prevention. This segment includes antibiotics, AND antiparasitics, anti-inflammatory drugs.

• By End User: The market can be segmented by end user type into Veterinary Clinics, Animal Hospitals, and Research Institutions. In 2023, Veterinary clinics dominate the market due to their accessibility and the wide range of services they offer, including diagnostics, surgeries, and preventive care.

• By Region: The market can be segmented by region into West, East, North and South Europe. In 2023, West Europe leads the market due to high disposable incomes, a strong preference for preventive healthcare, and a large population of pet owners. The region is characterized by advanced veterinary practices and significant investment in animal health.

Europe Veterinary Healthcare Market Competitive Landscape

• Zoetis Inc.: In 2023, Zoetis introduced a new range of parasiticides under its Stronghold brand, catering to the growing demand for effective parasite control. This launch is aimed at strengthening the company's position in the market, where there is increasing consumer interest in comprehensive animal health solutions.
• Boehringer Ingelheim: In 2024, Boehringer Ingelheim expanded its product line with the launch of a new range of vaccines targeting emerging diseases in livestock. The new vaccines emphasize innovative formulations and delivery methods, reflecting the company's commitment to advancing animal health.

Europe Veterinary Healthcare Market Analysis

Market Growth Drivers:

• Increasing Pet Ownership: The growing number of households with pets is driving the demand for veterinary healthcare services and products in Europe. According to a 2023 report by the European Pet Food Industry Federation (FEDIAF), pet ownership in Europe continues to rise, with over 200 million pets now being part of households across the continent.
• Growing Awareness of Animal Health and Wellness: A survey by the European Pet Food Industry Federation in 2022 revealed that about 70% of pet owners in Europe are willing to spend more on high-quality veterinary care and preventive services. Additionally, the sales of pet wellness products, including supplements and functional foods, have seen significant growth, with an estimated market size of USD 2.3 billion in 2023. This reflects the growing focus on animal health and wellness among pet owners and livestock farmers.
• Rising Prevalence of Zoonotic Diseases: The World Health Organization (WHO) has reported a steady increase in the incidence of zoonotic diseases in Europe over the past decade. In 2022 alone, there were over 1,200 reported cases of Lyme disease transmitted from ticks to humans in Germany, highlighting the need for enhanced animal health surveillance and preventive measures. This rising prevalence is driving the demand for veterinary diagnostics, vaccines, and treatments to prevent the spread of infections from animals to humans.

Market Challenges:

• Rising Costs of Veterinary Care: The increasing costs of veterinary care, including advanced diagnostics, surgeries, and treatments, pose challenges to pet owners and livestock farmers, potentially impacting their ability to afford comprehensive healthcare services.
• Regulatory Constraints: The market is subject to stringent regulations regarding the approval and use of veterinary medicines, medical devices, and vaccines. Compliance with these regulations can be challenging for manufacturers, particularly smaller players who may lack the resources for extensive testing and certification.

Government Initiatives:

• Denmarks Sustainable Livestock Farming Program: Denmarks Sustainable Livestock Farming Program, launched in 2021, aims to reduce the environmental impact of livestock farming while improving animal health and welfare. The program promotes the use of sustainable farming practices, supports research in animal nutrition and health, and provides subsidies for farmers adopting eco-friendly practices. The Danish government has allocated DKK 500 million which is USD 78 million to this program. Since its inception, there has been a 25% increase in the adoption of sustainable farming practices among Danish farmers, and the use of antibiotics in livestock has decreased by 22%. These changes have led to improved animal health and welfare and have supported the growth of the veterinary healthcare market in Denmark.
• Finlands Animal Welfare Act Reform: Finland reformed its Animal Welfare Act in 2020 to strengthen animal protection laws and ensure high standards of care for all animals. The reform includes stricter regulations on animal housing, transportation, and treatment, as well as mandatory training for animal handlers and veterinarians. The Finnish government allocated EUR 25 million to implement the new regulations and training programs. The reform has led to a 30% increase in compliance inspections and a significant improvement in animal welfare standards across Finland. As a result, the demand for veterinary services has grown, particularly for preventive care and wellness checks.

Europe Veterinary Healthcare Market Future Market Outlook

The Europe Veterinary Healthcare Market is expected to continue its steady growth, driven by the increasing trend of pet humanization, advancements in veterinary medicine, and government initiatives supporting animal health and welfare.

Future Market Trends:

• Growth of Telemedicine: Telemedicine services in veterinary healthcare are expected to grow in popularity, offering convenience and access to veterinary consultations and advice from home. This model provides a solution for pet owners in remote areas or those unable to visit a veterinary clinic in person.
• Increased Focus on Preventive Care: There will likely be a growing emphasis on preventive care and wellness products designed to maintain animal health and prevent diseases. Advances in veterinary research will drive the development of these products and services, enhancing the quality of care provided to pets and livestock.