European Animal Health Market Turnover Will Exceed $49.4 Billion

Pune, India, April 26, 2022 (GLOBE NEWSWIRE) —

According to a recent industry report presented by Graphical Research, the European animal health market is expected to register its name in the billion-dollar fraternity within seven years, surpassing $49.4 billion in revenue by 2027.

The forecast for the European animal health market will be positively affected by the rise in the adoption rate of companion animals 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 pets may experience a noticeable increase.

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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. Numerous studies have proven the positive effect of pets on the overall health of their owner, as they keep depression, loneliness and physical inactivity at bay, thus promoting their adoption. This factor will also promote the use of animal health products to help owners keep their animals healthy and free from chronic disease.

The trends favorable to the market outlook are outlined below:

Veterinary services are gaining ground:

Veterinary services held a share worth $18.6 billion in the European animal health market in 2020. The demand for animal sitting, training and grooming services and many other activities is increasing among pet owners. These services protect the animal’s health against infections and promote its well-being.

In addition, the occurrence of zoonotic diseases is increasing at an alarming rate in the region, putting several animals at risk. Such health emergencies can fuel the demand for veterinary services.

The demand for pets is increasing:

Pets captured more than 57% share of European animal health industry in 2020. Governments are implementing initiatives to raise public awareness of animal health.

They also partner with reputable organizations to advance healthcare facilities for pets. Additionally, since the region is experiencing a commendable increase in the number of pet owners, the use of animal health products is expected to increase.

Pharmacies can become the main distribution channels:

Pharmacies are expected to account for a share worth $14.2 billion in the European animal health market by 2027. The demand for effective drugs to treat various diseases in animals has increased the need for pharmacies in the region.

Additionally, many people buy livestock and adopt pets, which can increase the number of animal surgeries performed each year. This will amplify the need for easily accessible veterinary pharmacies for pet owners.

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The forecast for the UK animal health market remains positive:

The UK captured a share worth over $3.5 billion in the European animal health industry in 2020. The prevalence of zoonotic diseases, such as brucellosis, dermatophytosis and campylobacteriosis is increasing In the region. This has prompted the government to unveil plans and programs that raise awareness about animal health and welfare, thus promoting the production of animal health products to reduce the spread of these diseases.

The size of the European animal health market is expected to grow at a tremendous rate owing to a worrying increase in cases of fatal diseases 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 others, manufacture animal pharmaceuticals, vaccines, feed additive drugs and medical devices for livestock and pets. The products will be supplied by pharmacies and online distributors. Companies are also setting up advanced veterinary services for these animals to protect them from chronic disease.

Browse related report:

North America animal health market 2027 forecast by animal type (farm animals {poultry, pigs, cattle, fish}, pets {dogs, cats, horses}), by product (pharmaceuticals {medicines [Antiparasitic, Anti-inflammatory, Anti-infectives]Vaccines [Modified Live Vaccines, Killed Inactivated Vaccines]Medicated food 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 Distribution Channel (Pharmacies, Online, Distributors), Report of Research, National Outlook (US, Canada), COVID-19 Impact Statistics, Price Trends, Historical Data, Growth Outlook, Share of Competitive Industry

https://www.graphicalresearch.com/industry-insights/1344/north-america-animal-healthcare-market

Asia Pacific Animal Health Market 2027 forecast by product (pharmaceuticals {drugs [Antiparasitic, Anti-inflammatory, Anti-infectives]Vaccines [Modified Live Vaccines, Killed Inactivated Vaccines]Medicated food 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 {poultry, pig, livestock, fish}), pets {dogs, cats, horses}), by distribution channel (pharmacies, online, distributors), research report, outlook by country (China, India, Japan, Australia, South Korea , Taiwan, Malaysia, Indonesia, Thailand, Singapore, Philippines, Vietnam), COVID-19 Impact Statistics, Price Trends, Historical Data, Growth Prospects, Competitive Industry Share

https://www.graphicalresearch.com/industry-insights/1342/asia-pacific-animal-healthcare-market

About Graph Search:

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