The Europe veterinary healthcare products market accounted for a market value of USD 6,900 million in 2016 and is expected to reach USD 8,850 million in 2023, growing at a CAGR of 5.1% during the forecast period of 20182023. The vaccines segment in the European veterinary healthcare market accounted for the largest market share, followed by antiinfective agents. However, the medical feed additives market is expected to witness the highest growth rate during the forecast period.
Improved nutrition is driving the market
Foods derived from animals are an important source of nutrients in our diets; for example, milk and meat together provide for about 60 and 55% of the dietary intake of calcium and protein. The demand for animal products is growing at a substantial rate, majorly driven by a combination of population growth, an increase in incomes and urbanization. Food production, however, is said to have almost double in few decades, with a proportional increase in the demand for affordable meat products. There are many successful infeed solutions that facilitate good quality meat products and also a significant improvement in health and nutrition. In addition, contributing to weight gain, these solutions reduce the dependence on antibiotics, and hence, are having a positive effect on the environment.
The increase in animal healthcare provides the opportunity to develop advanced animal feed solutions using C1 technology. Dyadic International Inc. believes its proprietary C1 technology will play a significant role. The same technology has many outstanding benefits, in the manufacturing of animal feeds, from improving quality to reducing costs.
Key Developments in the Market
January 2016: Zoetis is planning to capitalize on the steady and growing demand for meat and milk proteins and pets for companionship to keep animals healthy and productive.
January 2018: Bulgarian Presidency begins with 100 euro million Juncker Plan loan for agripharma business Huvepharma
Major Players: Bayer Healthcare, Boehringer Ingelheim, Ceva Animal Health, Inc., Merial Animal Health Division of Sanofi, Elanco, Virbac
Reasons to Purchase this Report:
Provides latest insights into the European Veterinary Healthcare Market.
Analyses the market scenario with the help of Porter's Five Forces Analysis.
Forecasts the market volume and value by assessing the impact of the market drivers and constraints.
3 months analyst support along with the Market Estimate sheet in excel.
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