Pune, India, April 26, 2022 (GLOBE NEWSWIRE) --
As per a recent industry report put forward by Graphical Research, the Europe animal healthcare market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 49.4 billion by 2027.
Europe animal healthcare market forecast will be positively affected by the rising pet adoption rate due to the high per-capita income. There is a large percentage of the elderly population in the region, which is why the demand for companion animals may witness a notable surge.
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The hectic lifestyle followed by the working class of the region has made it vulnerable to several mental and physical disorders. Many studies have proved the positive effect pets have on their owner’s overall health as they keep depression, loneliness, and physical inactivity at bay, thereby fostering their adoption. This factor will also favor the use of animal healthcare products to help owners keep their pets healthy and safe from chronic ailments.
The trends favoring the market outlook are expounded below:
Veterinary services gain traction:
Veterinary services held a share worth $18.6 billion in Europe animal healthcare market in 2020. The demand for daycare services, animal training & grooming, and many other activities is growing among pet owners. These services protect the pet’s health from infections and promote their welfare.
Moreover, the occurrence of zoonotic ailments is rising at a worrying rate in the region, putting several animals at risk. Such health emergencies may fuel the demand for veterinary services.
Demand for companion animals grows:
Companion animals captured more than 57% share of Europe animal healthcare industry in 2020. Governments are introducing initiatives to increase the awareness of animal health among people.
They are also partnering with reputed organizations to bring advancements in the healthcare facilities offered to companion animals. Furthermore, since the region is seeing a commendable rise in the number of pet owners, the use of animal healthcare products is projected to grow.
Pharmacies may become the main distribution channels:
Pharmacies are likely to account for a share worth $14.2 billion in Europe animal healthcare market by 2027. The demand for effective medicines to treat a variety of diseases in animals has augmented the need for pharmacies in the region.
In addition, many people are purchasing livestock and adopting companion animals, which may increase the number of animal surgeries being performed every year. It will amplify the need for vet pharmacies that are easily accessible to pet owners.
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UK animal healthcare market forecast remains positive:
The UK captured a share worth over $3.5 billion in Europe animal healthcare industry in 2020. The prevalence of zoonotic ailments, such as brucellosis, dermatophytosis, and campylobacteriosis is growing in the region. It has prompted the government to unveil plans and schemes that increase people’s awareness of animal health and welfare, thereby fostering the production of animal healthcare products to reduce the spread of these diseases.
Europe animal healthcare market size is projected to grow at a considerable rate due to an upsetting rise in the cases of fatal disorders in animals. Well-known companies, such as Neogen Corporation, Boehringer Ingelheim, Zoetis, Inc., Merck & Co., Inc., Elanco Animal Health, Dechra Pharmaceuticals, and Bayer AG, among a few others, are manufacturing animal pharmaceuticals, vaccines, medicated feed additives, and medical devices for livestock and companion animals. The products will be supplied through pharmacies and online distributors. The firms are also introducing advanced veterinary services for these animals to protect them from falling prey to chronic diseases.
Browse Related Report:
North America Animal Healthcare Market Forecast 2027 By Animal Type (Livestock Animals {Poultry, Swine, Cattle, Fish}, Companion Animals {Dogs, Cats, Horses}), By Product (Pharmaceuticals {Drugs [Antiparasitic, Anti-inflammatory, Anti-infectives], Vaccines [Modified Live Vaccines, Killed Inactivated Vaccines], Medicated Feed Additives [Antibiotics, Vitamins, Amino Acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals]}, Medical Devices {Veterinary Diagnostic Equipment, Veterinary Anaesthesia Equipment, Veterinary Patient Monitoring Equipment, Veterinary Surgical Equipment, Veterinary Consumables}, Veterinary Services), By Distribution Channel (Pharmacies, Online, Distributors), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
https://www.graphicalresearch.com/industry-insights/1344/north-america-animal-healthcare-market
Asia Pacific Animal Healthcare Market Forecast 2027 By Product (Pharmaceuticals {Drugs [Antiparasitic, Anti-inflammatory, Anti-infectives], Vaccines [Modified Live Vaccines, Killed Inactivated Vaccines], Medicated Feed Additives [Antibiotics, Vitamins, Amino Acids, Enzymes, Antioxidants, Prebiotics and Probiotics, Minerals]}, Medical Devices {Veterinary Diagnostic Equipment, Veterinary Anesthesia Equipment, Veterinary Patient Monitoring Equipment, Veterinary Surgical Equipment, Veterinary Consumables}, Veterinary Services), By Animal Type (Livestock Animals {Poultry, Swine, Cattle, Fish}, Companion Animals {Dogs, Cats, Horses}), By Distribution Channel (Pharmacies, Online, Distributors), Research Report, Country Outlook (China, India, Japan, Australia, South Korea, Taiwan, Malaysia, Indonesia, Thailand, Singapore, Philippines, Vietnam), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
https://www.graphicalresearch.com/industry-insights/1342/asia-pacific-animal-healthcare-market
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
