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.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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·
Animal Type
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Product Type
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End User
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Source
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Regional scope
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London, Southeast, East Anglia, Scotland, Southwest, East
Midlands, Yorkshire & Humberside, Rest of United Kingdom
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Key companies profiled
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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
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Customization scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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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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Report Scope:
In this report, United Kingdom veterinary
medicine market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
·
United Kingdom Veterinary Medicine
Market, By Animal Type:
- Production
- Poultry
- Swine
- Cattle
- Others
- Companion
- United Kingdom Veterinary Medicine Market, By Product
Type:
- Vaccine
- Pharmaceuticals
- Medicated Feed Additives
- United Kingdom Veterinary Medicine Market, By End
User:
- Veterinary Hospitals & Clinics
- Reference Laboratories
- Others
- United Kingdom Veterinary Medicine Market, By Source:
- United Kingdom Veterinary
Medicine Market, By Region:
o London
o Southeast
o East Anglia
o Scotland
o Southwest
o East Midlands
o Yorkshire & Humberside
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in United Kingdom veterinary medicine
market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
United Kingdom veterinary
medicine market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]