United Kingdom Veterinary Medicine Market By Animal Type (Production v/s Companion), By Production (Poultry, Swine, Cattle, Others), By Companion (Dogs, Cats, Horses, Others), By Product Type (Vaccine, Pharmaceuticals, Medicated Feed Additives), By End User (Veterinary Hospitals & Clinics, Reference Laboratories, Others), By Source (Domestic v/s Import), By Region, Competition Forecast & Opportuni
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationUnited Kingdom Veterinary Medicine Market By Animal Type (Production v/s Companion), By Production (Poultry, Swine, Cattle, Others), By Companion (Dogs, Cats, Horses, Others), By Product Type (Vaccine, Pharmaceuticals, Medicated Feed Additives), By End User (Veterinary Hospitals & Clinics, Reference Laboratories, Others), By Source (Domestic v/s Import), By Region, Competition Forecast & Opportuni
The United Kingdom veterinary medicine market is anticipated to witness a robust CAGR in the forecast period, 2023-2027. The surge in awareness about the adverse effects of zoonotic and foodborne diseases and efforts by the market players to optimize the supply chain and manufacturing of medicines are the primary factors driving the demand for the United Kingdom veterinary medicine market over the forecast period. Also, a rise in the launch of new products and medicines and increasing consumer willingness to spend on animal healthcare are the other prominent factors that are expected to accelerate the growth of the United Kingdom veterinary medicine market.
Increased Consumer Spending on Animal Healthcare Drives the Market Growth
Consumer spending on veterinary and other pet services in the United Kingdom in 2020 amounted million GBP 3993. The trend of pet humanization and the rise in the spending by pet owners to maintain animal health are playing a major role in influencing the market demand. People are becoming more dependent on pets for emotional support and are spending significant amounts on animal health and well-being. The most popular pets in the United Kingdom are cats, dogs, rabbits, indoor birds, guinea pigs, hamsters, tortoises, turtles, lizards, domestic fowls, and snakes. People prefer to keep pets as they improve their mental health and bring positivity to homes. People spend more than £3 billion on pet food every year. About more than half of pet owners live in cities, and most of the pet owners are under the age of 40. The huge popularity of pets and improved living standards of pet owners are expected to accelerate the United Kingdom veterinary medicine market growth in the forecast period.
Growing Prevalence of Diseases in Animals Fuels the Market Demand
Zoonotic and food-borne diseases are common in animals. The British government has spent about GBP 70 million a year on disease control and prevention. Bovine tuberculosis (bTB), which is caused by Mycobacterium bovis, is one of the most serious health problems faced by cattle in the country. Market players are launching products specifically for the health problems faced by animals, such as the introduction of BRAVECTO Plus medicine, which is used to treat external and internal parasite infections of cats. In 2019, veterinary activities contributed 2.7 billion British pounds to the GVA of the UK Non-Financial Business Economy, and this number is rapidly growing in the coming years. An increase in awareness about the negative effects of different diseases in animals and the availability of advanced treatment facilities are expected to drive the demand for the United Kingdom veterinary medicine market in the next five years.
Supportive Government Policies Favors the Market Growth
Leading authorities are keen on ensuring the well-being and health of animals and are introducing several initiatives and making hefty investments in the development of the animal healthcare industry. The Animal Welfare Act 2006 states that the animal owners need to take care of their pets, failing which they could be banned from owning animals or face an unlimited fine or sent to prison for up to six months. Also, the Welfare of Farmed Animals (England) (Amendment) Regulations 2010 protects the farm animals from any kind of cruelty and negligence by the pet owners. Therefore, the focus of the government on well-fare is expected to create lucrative growth opportunities for the United Kingdom veterinary medicine market in the forecast period.
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Market Segmentation
United Kingdom veterinary medicine market is segmented into animal type, product type, end user, source, regional distribution, and competitive landscape. Based on animal type, the market is bifurcated into production v/s companion. The production segment is further divided into poultry, swine, cattle, others while the companion segment is divided into dogs, cats, horses, others. Based on product type, the market is divided into vaccine, pharmaceuticals, and medicated feed additives. Based on end user, the market is divided into veterinary hospitals & clinics, reference laboratories, and others. Based on source, the market is bifurcated into domestic and import. United Kingdom veterinary medicine market is studied in major regions namely London, Southeast, East Anglia, Scotland, Southwest, East Midlands, Yorkshire & Humberside, and rest of United Kingdom.
Market Players
Dechra Pharmaceuticals PLC, Norbrook Laboratories Ltd, Elanco Animal Health UK Limited, Bayer Plc., Boehringer Ingelheim Animal Health UK Limited, Ceva Animal Health Limited, Covetrus Animal Health Holdings Limited, KRKA UK Ltd, TVM UK, Vetoquinol UK Limited, are the major market players operating in United Kingdom veterinary medicine market.
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Animal Type · Product Type · End User · Source |
| Regional scope | London, Southeast, East Anglia, Scotland, Southwest, East Midlands, Yorkshire & Humberside, Rest of United Kingdom |
| Key companies profiled | Dechra Pharmaceuticals PLC, Norbrook Laboratories Ltd, Elanco Animal Health UK Limited, Bayer Plc., Boehringer Ingelheim Animal Health UK Limited, Ceva Animal Health Limited, Covetrus Animal Health Holdings Limited, KRKA UK Ltd, TVM UK, Vetoquinol UK Limited |
| Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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