Europe Veterinary Medicine Market Size & Outlook
Europe veterinary medicine market, 2018-2030 (US$M)
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Europe veterinary medicine market highlights
- The Europe veterinary medicine market generated a revenue of USD 12,060.9 million in 2023.
- The market is expected to grow at a CAGR of 8.6% from 2024 to 2030.
- In terms of segment, pharmaceuticals was the largest revenue generating product in 2023.
- Biologics is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Denmark is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 12,060.9 million |
| Market revenue in 2030 | USD 21,428.8 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Pharmaceuticals |
| Fastest growing segment | Biologics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biologics, Pharmaceuticals, Medicated Feed Additives |
| Key market players worldwide | Zoetis Inc Class A, Boehringer Ingelheim, Merck & Co Inc, Elanco Animal Health Inc, Dechra Pharmaceuticals, Ceva Santé Animale, Phibro Animal Health Corp Class A, Virbac SA, Bimeda Ireland, Biogenesis Bago |
Other key industry trends
- In terms of revenue, Europe region accounted for 25.9% of the global veterinary medicine market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 19,217.3 million by 2030.
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Veterinary Medicine Market Scope
Veterinary Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe veterinary medicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to veterinary medicine market will help companies and investors design strategic landscapes.
Pharmaceuticals was the largest segment with a revenue share of 67.42% in 2023. Horizon Databook has segmented the Europe veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
Europe veterinary medicine market held the second-largest share in 2023. It is one of the leading regions with advanced technologies and established market players, resulting in improved veterinary facilities.
For instance, the European Board of Veterinary Specialization (EBVS) focuses on veterinary specialization. According to the European Medicines Agency, modified regulations came into effect in January 2022, which was expected to simplify the set norms and alleviate the burden on pharmaceutical companies, thereby creating lucrative growth opportunities.
Furthermore, trade organizations, such as the European Free Trade Association (EFTA), an intergovernmental organization of Liechtenstein, Iceland, Norway, & Switzerland, facilitated trade between countries and increased growth opportunities in the region. Moreover, a high proportion of insured pets is fueling the Europe veterinary medicine market.
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Target buyers of Europe veterinary medicine market databook
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Our clientele includes a mix of veterinary medicine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe veterinary medicine market , including forecasts for subscribers. This continent databook contains high-level insights into Europe veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe veterinary medicine market size, by country, 2018-2030 (US$M)
Europe Veterinary Medicine Market Outlook Share, 2023 & 2030 (US$M)
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