Insights into the growing veterinary health market...

The veterinary market in the EMEA region is expected to experience substantial growth in the coming years: 5-8% CAGR. Typically, the veterinary market is categorised into companion animals and livestock. The European companion animal market is estimated to be worth 5.7 B USD by 2029 and this growth is driven by increased pet ownership which in turn leads to an increased spending on pet health and wellbeing. The European livestock animal healthcare market is also estimated to increase to 21.5 B USD by 2031, this is driven by increased livestock population. The livestock population requires extensive healthcare to prevent disease outbreaks, and this continues to be the primary driver within this market.

The prevalence of zoonotic and food-borne illnesses continues to be a concern for pet animal health. Furthermore, pet owners’ health concerns are rising, as is their demand for higher quality products and better nutrition. The provision of these high-quality food products has boosted the market’s growth rate, as has the expansion of veterinary hospitals in both private and public entities. The increase in the potential of companion animal diseases spreading to humans has led to most pet owners ensuring their animals are vaccinated regularly. The growing need for prophylactic vaccines is set to further propel the market forward.

Livestock healthcare refers to the development of health-building and illness prevention, detection and management strategies that support the health and wellbeing of farm animals. The main segments in this market are vaccines, pharmaceuticals and feed additives. The growth in the livestock healthcare market is attributed to evolving disease landscape, focus on antibiotic reduction, growing awareness of zoonotic diseases, adoption of precision livestock farming and sustainable livestock practices. Predicted trends in this forecast include biosecurity measures for disease prevention, focus on animal welfare and emergence of personalised medicine for livestock.

At Croda Pharma we recognise the growth of the veterinary health market, and our technical experts are equipped to help solve the challenges our formulators may face. Our upcoming webinar Advancing animal health: Veterinary solutions for small molecule applications will delve into this market, explore some of the trends mentioned above and highlight how our innovations improve disease management, enhance animal welfare and address emerging health challenges. Secure your spot today!

References:

https://www.marketdataforecast.com/market-reports/eu-companion-animal-health-care-market

https://www.marketdataforecast.com/market-reports/companion-animal-health-care-market

https://www.thebusinessresearchcompany.com/report/livestock-healthcare-global-market-report