Virtual Reality Is Fastest Growing Segment Fueling The Growth Of Europe Animal Healthcare Market


https://www.coherentmarketinsights.com/market-insight/animal-healthcare-market-55
Europe Animal Healthcare Market


Market Overview:

Europe Animal Healthcare Market includes animal medicine and vaccines that are used for the prevention and treatment of animal diseases. Animal healthcare products such as anti-parasitic, anti-infective and vaccines provide protection to livestock animal from various diseases and improve their health.

Market key trends:
One of the key trends in Europe Animal Healthcare Market is increasing adoption of virtual reality technology. Veterinarians are increasingly adopting virtual reality technology to provide efficient training to pet owners and livestock farmers regarding animal handling, disease diagnosis and treatment administration. Virtual reality helps in simulating real life animal healthcare environments and procedures virtually. This is allowing vets and farmers to practice complex skills virtually before implementing them in real life situations. This is improving animal healthcare outcomes.

The global Europe Animal Healthcare Market Trends is estimated to be valued at US$ 14772.92 Mn or in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
The Europe animal healthcare market is segmented into pharmaceuticals, vaccines, feed additives, and others. Pharmaceuticals dominate the market and are expected to continue their dominance over the forecast period. This is due to the increasing usage of various drugs to treat different diseases among companion animals. Within pharmaceuticals, parasiticides hold the largest share as they are used to control parasites like ticks, fleas, and heartworms that often affect pets.

Key Takeaways
The global Europe animal healthcare market is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing pet ownership and rising prevalence of zoonotic and animal diseases.

Regional analysis - Western Europe dominates the Europe animal healthcare market and is expected to continue its dominance over the forecast period. This is attributed to growing awareness regarding animal health, increased pet expenditure, and advanced animal healthcare infrastructure in countries like the UK, Germany, France and Italy. The market is projected to grow the fastest in Eastern Europe during the forecast period.

Key players - Key players operating in the Europe animal healthcare market are Merck & Co., Inc., Virbac, Dechra Pharmaceuticals Plc., Vetoquinol S.A., Zoetis Inc.,Bayer AG, Elanco, Evonik Industries AG, and Archer Daniels Midland Company. Merck & Co. is a global leader in animal healthcare and has a strong product portfolio comprising pharmaceuticals like antibiotics, parasiticides and vaccines.

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