Over the course of the forecast period, leading market players are anticipated to offer more products related to animal healthcare, which will fuel the market's expansion in Europe. For instance, in 19 European nations in December 2021, SeQuent Scientific, an integrated pharmaceutical business with its headquarters in India, introduced Halofusol, a 0.5 mg/ml oral solution for calves. For the treatment and management of diarrhoea in newborn calves, halofusol is an oral anti-protozoal medication. Over the course of the projected period, market growth is anticipated to be fueled by the growing adoption of inorganic methods such partnerships by leading industry players. As an illustration, the regenerative medicine business Klox Technologies and the French pharmaceutical Vetoquinol announced their partnership in December 2019. The fluorescent light energy (FLE) products for animal health that Klox is creating with Vetoquinol through this partnership are being made available for purchase. Over the course of the projected period, market expansion is anticipated to be fueled by an increase in the incidence of African swine fever (ASF) in wild boar.
Coherent Market Insights estimates that over the forecast period (2022-2030), the market for Animal Healthcare In Europe is anticipated to grow at a CAGR of 4.8%, reaching an estimated value of US$ 14,096.3 million in 2022.
Prominent Companies in the Europe Animal Healthcare Industry:
1. Bayer AG
The company was started in 1863 and is located in Leverkusen, Germany. Bayer AG manufactures and sells agricultural and medical products. For $425 million, Bayer announced in August 2020 that it had purchased KaNDy Therapeutics Ltd, bolstering its female healthcare division. The business declared in June 2021 that it had acquired Noria Therapeutics Inc. and PSMA Therapeutics Inc., acquiring access to many actinium-225-based experimental medicines with a focus on treating cancer.
2. Merck & Co., Inc.
The business was founded in 1668, and Rahway, New Jersey is where its headquarters are. Merck produces medicines, vaccines, biologic therapies, and things for animal health. After paying an undisclosed sum for the cattle management company Vence, the company announced in September 2022 that it will merge with Merck Animal Health. In February 2021, Merck Animal Health acquired PrognostiX Poultry.
3. Virbac
The firm was started in 1968 and is based in Carros, France. In addition to offering medical services, Virbac SA also produces vaccinations, wormers, and antibiotics for use in veterinary medicine. Customers of Virbac can be found in South America, Europe, Asia, and the United States. In 2022, Virbac opened a new research and development facility in Taiwan's Pingtung Agricultural Biotechnology Park (PABP).
4. Dechra Pharmaceuticals Plc.,
The firm was founded in 1997 and is based in Northwich, United Kingdom. The firm is a global pharmaceutical corporation with a veterinary market focus, with the creation and promotion of goods for companion animals serving as its primary area of expertise. The business is divided into four segments: services, US pharmaceuticals, European pharmaceuticals, and US pharmaceuticals.
5. Vetoquinol S.A.
The company was established in 1933 and is based in France. The Company specialises in the discovery, manufacturing, marketing, and sale of veterinary pharmaceuticals and goods in disciplines such cardiology, nephrology, and nephrology, as well as anti-infectives, anti-pain inflammation, and veterinary drugs.
6. Zoetis Inc.
The firm was founded in 1952 and is located in New Jersey, United States. The largest manufacturer of medications and livestock and pet immunisations worldwide is Zoetis Inc. To expand its selection of specialised animal health treatments, Zoetis purchased privately held genetics business Basepaws in June 2022. The purchase of Jurox by Zoetis, which was announced in August 2021, will increase the company's footprint in New Zealand, the US, Canada, and the UK.
7. Evonik Industries AG
The company was started in 2007 and has its main office in Essen, Germany. Specialty chemicals are produced by Evonik Industries AG. In the areas of consumer products, animal nutrition, and pharmaceuticals, the company offers a variety of items. Evonik introduced next-generation peptide for biopharmaceutical applications in June 2023.
Definition: With the aid of disease diagnosis and treatment, animal healthcare focuses on managing animals' health effectively. Animal illness outbreaks impose trade restrictions on goods derived from animals, raise the cost of disease control, and negatively impact the world economy.
