Europe Veterinary Healthcare Market Size 2023, Trends, Industry Share, Size, Revenue, Challenges, Future Opportunities and Forecast Till 2033: SPER Market Research
“Veterinary healthcare” is the term used to describe the medical care and services given to animals, especially domestic pets and livestock, with the goal of preserving their health and welfare. It includes a broad range of procedures and treatments meant to avoid, identify, and treat diseases, wounds, and other medical issues in animals. It includes taking preventative measures and keeping animals in good health through wellness exams, dental care, nutrition counseling, and routine vaccinations. Veterinary healthcare providers also play a critical role in promoting animal welfare by reporting cases of animal abuse or neglect, arguing for humane treatment, and guaranteeing the welfare of animals in various contexts.
According to SPER market research, ‘Europe Veterinary Healthcare Market Size – By Product, By Animal Type – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Veterinary Healthcare Market is predicted to reach USD 21.62 billion by 2033 with a CAGR of 7.8%.
Drivers: The primary factors propelling the veterinary healthcare market in Europe are the increasing adoption of animals in European countries, coupled with increased government initiatives and improved animal healthcare. The Pet Food Manufacturers Association reports that 3.2 million households in the UK have obtained a pet since the pandemic began in 2021.
Additionally, advancements in animal diagnostic technologies for accurate diagnosis as well as greater market penetration by some of the major and dominant players are expected to fuel market growth.
Additionally, it is expected that the market will expand due to developments in animal diagnostic technologies that enable accurate diagnosis and the rising market share of major players.
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Challenges: Numerous issues affect the overall dynamics and effectiveness of the European veterinary healthcare market. The principal concern is the rising incidence of zoonotic illnesses, or infections that are contracted from animals and then transferred to humans. Veterinary healthcare systems are under pressure to implement efficient preventative measures and keep up with emerging illnesses because of the demand for complex and specialized care. Pet owners and medical professionals are facing financial challenges as a result of the rising expense of veterinary care and the rising demand for pet insurance. The regulatory complexity among European nations, which leads to differences in standards, licensing, and approval procedures for veterinary medications and therapies, further impedes the smooth integration of markets.
The COVID-19 pandemic in Europe caused supply chain hiccups and postponed the delivery of reagents, consumables, and diagnostic equipment, which at first hurt the market. Among the primary challenges the market faced during a pandemic were a number of countries imposing export bans, a limited number of manufacturing facilities operating, port checkpoints and truck traffic jams impeding the delivery of critical supplies. Consequently, these factors at first hindered the market’s expansion. On the other hand, the pandemic caused pet ownership to rise in Spain, which contributed to the market’s expansion.
Furthermore, Germany is expected to have a substantial share of the market in the studied market over the forecast period due to factors such as rising animal adoption and increased meat exports. Additionally some of the market players are: Dechra Pharmaceuticals PLC., Dopharma, ECO Animal Health Group Plc, Elanco, Hipra, Idexx Laboratories, Inc., Laboratorios Syva,.
Europe Veterinary Healthcare Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product: Based on the Product, Europe Veterinary Healthcare Market is segmented as; Therapeutics, Diagnostics.
By Animal Type: Based on the Animal Type, Europe Veterinary Healthcare Market is segmented as; Dogs and Cats, Horses, Ruminants, Swine, Poultry, Others.
By Region: This research also includes data for Germany, United Kingdom, France, Italy, Spain, Rest of Europe.
For More Information, refer to below link:-
Europe Veterinary Healthcare Market Outlook
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