Europe Animal Healthcare Market Growth Accelerated by Increasing Companion Animal Ownership

 

The Europe Animal Healthcare Market is an important market due to the increasing pet adoption rates over the past few years. Animal healthcare products such as vaccines, parasiticides & anti-infectives, medicines and feed additives provide veterinary care for companion animals as well as livestock. They are essential in maintaining the health of animals and preventing the spread of zoonotic diseases. The global Europe Animal Healthcare Market is estimated to be valued at US$ 14,096.3 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing pet adoption across Europe has been a major factor driving the growth of the animal healthcare market over the past decade. According to European Pet Food Industry Federation, the total pet population in Europe has grown from 135 million in 2008 to 165 million in 2020. This growing companion animal ownership has augmented the demand for animal healthcare products like vaccines and parasiticides to safeguard the health of pets. As people increasingly view pets as companion and family members, they are willing to spend more on animal care, which is benefitting the market growth. Furthermore, rising awareness about animal welfare has also propelled the need for quality veterinary care and healthcare products for both companion and livestock animals in the region.

Segment Analysis
The Europe animal healthcare market is segmented by animal type into companion animals and livestock animals. The companion animal segment accounts for the dominating share of the market owing to increasing pet adoption, rising awareness regarding pet healthcare, and growing expenditure on pet care products. Within companion animals, dogs hold the largest market share due to high adoption rates and availability of easy-to-administer products by key players for canine healthcare.

Key Takeaways
The global Europe animal healthcare market is expected to witness high growth during the forecast period.

Regional analysis showed that Germany accounted for the largest share of the Europe animal healthcare market in 2024. Factors such as increasing adoption of companion animals, growing pet healthcare expenditure, and a high number of veterinarians contributed to Germany's leading position.

Key players operating in the Europe animal healthcare market are 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. Merck & Co., Inc. specializes in development and supply of veterinary prescription medicines, vaccines, and health management solutions. Zoetis Inc. offers pet care products such as parasiticides, vaccines, and medical devices. Dechra Pharmaceuticals Plc. focuses on development, manufacturing, and supply of veterinary pharmaceuticals and related products for Europe and international markets.


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