United Kingdom Veterinary Medicine Market to be dominated by Companion animals till 2027
Surge in animal healthcare
expenditure and increased urbanization is expected to drive the demand for the
United Kingdom veterinary medicine market in the forecast period.
According to TechSci Research report, “United Kingdom Veterinary Medicine Market By Region, Competition Forecast &
Opportunities, 2027”, the United Kingdom veterinary medicine market is
expected to witness impressive growth in the forecast period. The rise in
research and development activities and procedural advancements and the growing
pet adoption rate in the country is driving the market demand. Pet owners have
become more aware of the health condition of their pets and are taking
preventive measures in the form of medications and vaccines to keep their pets
healthy. Also, the growing popularity of animal and animal-derived products
such as milk, eggs, meat, and wool among the consumers makes the livestock
owners adopt preventive healthcare measures and veterinary medicine. Market
players operating in the United Kingdom veterinary medicine industry invest
heavily in research and development activities to upgrade and expand their
product portfolio for companion and livestock animals. They are searching for
novel ways to administer parasiticides, such as through sprays, collars, and
dips, which is expected to boost the demand for the United Kingdom veterinary
medicine market in the next five years.
The veterinary product consists of products used to
treat different medical conditions in animals. Veterinary medicine includes
medicine additives mixed in animal feed to increase the pharmaceutical effects
on animals. It also includes vaccines used as a preventive measure to build
immunity against different diseases. The medicine can be administered to
animals either by oral route or via vaccines.
However, the high cost of veterinary medicines may
restrain the growth of the United Kingdom veterinary medicine market in the
forecast period.
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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, and others, while the companion
segment is divided into dogs, cats, horses, and others. Companion animals are
expected to hold the largest market share in the forecast period due to keeping
pets in each home. In companion animals, dogs dominate the market. According to
a study, toy dog breeds have gained popularity by 140% in the past five years
in the United Kingdom.
Based on product type, the
market is divided into vaccine, pharmaceuticals, and medicated feed additives.
Pharmaceuticals are expected to account for a significant market share in the
forecast period due to the rise in the prevalence of zoonotic diseases,
food-borne diseases, and brucellosis, which requires medicines for treatment.
Based on the end user, the
market is divided into veterinary hospitals & clinics, reference
laboratories, and others. Veterinary hospitals & clinics are expected to
capture the highest market share in the forecast period. They are dominating
the market due to the availability of facilities like specialized surgeries,
laser diagnostics, nuclear and regenerative medicines, and advanced diagnostic
imaging techniques in veterinary hospitals and clinics.
Major market players operating in the United Kingdom veterinary medicine
market are:
·
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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“Increased
awareness about the benefits of pet insurance and the rise in the adoption of
cats and dogs are driving the market growth. Easier insurance claim process and
coverage for most pet diseases, diagnostic tests, and accidents of pets offered
by the insurance service providers are expected to affect the United Kingdom
veterinary medicine market positively. High treatment prices and the prevalence
of various diseases are increasing the adoption of insurance policies among pet
owners, which is expected to fuel the sales of veterinary medicines in the
forecast period. Also, the emergence of online sales channels offering
prescribed medicines at discounted rates is expected to propel the growth of
the United Kingdom veterinary medicine market till 2027” said Mr. Karan Chechi,
Research Director with TechSci Research, a global research-based management
consulting firm.
“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 &
Opportunities, 2027” has evaluated the future growth potential of United
Kingdom veterinary medicine market and provided statistics & information on
market size, shares, structure, and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
of United Kingdom veterinary medicine market.
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