Market Trends of Italy Veterinary Healthcare Industry
Vaccines Segment is Expected to Witness Significant Growth During the Forecast Period
The incidence of new infections that provide an opportunity to develop new vaccines and the increased government programs are expected to propel the growth of the veterinary vaccines market in Italy during the forecast period. The Italian Ministry of Health (MOH) is the central body that deals with orientation and planning on issues related to veterinary health, food hygiene, and safety.
For instance, in February 2022, the Italian parliament approved a law to change the Constitution of Italy to include that the state must safeguard both animals and the natural environment (ecosystems and biodiversity) in the interest of future generations. Thus, government initiatives are responsible for market growth during the forecast period.
In addition, the increased usage of vaccines among livestock, as well as companion animals, boosts demand for the product. Epidemics over previous years have caused significant losses in the animal breeding industry, propelling the demand for vaccinations. In addition, a consistent number of mergers and acquisitions and various awareness programs are expected to expand the growth potential to a significant level.
For instance, in April 2022, World Animal Vaccination Day was celebrated, which was an initiative of HealthforAnimals and the World Veterinary Association, held each year in the run-up to European Immunization Week. On the occasion of World Animal Vaccination, FVE, FECAVA, and Animal Health Europe launched a joint appeal to professionals in the sector to make the most of the opportunities that vaccinations present in the field of animal welfare.
Thus, with an increase in government initiatives and various strategic activities by the key players for vaccinations among animals, the segment studied is expected to witness significant growth during the forecast period.
Dogs and Cats Segment is Anticipated to Hold Significant Market Growth in the Italy Veterinary Healthcare Market During the Forecast Period
Dogs and cats are mostly considered companion animals as they provide comfort to human beings as companions. The rising prevalence of diseases among animals and increasing companion animal ownership are expected to drive market growth. For instance, as per the FEDIAF 2022 report, the dog population in Italy was 8.8 million in 2023, and the cat population was 10.2 million in 2023. Thus, a high pet population is expected to drive the demand for veterinary health products, thereby fueling the market’s growth during the forecast period.
Further, several initiatives taken in the country to increase the adoption of pets, such as dogs and cats, are expected to increase demand for the veterinary healthcare market over the forecast period. For instance, in December 2023, EDI, in collaboration with Empathy, an organization dedicated to promoting responsible pet adoption, is spearheading a campaign. This initiative highlights the significance of thoughtfully adopting dogs and cats, especially during festivals like Christmas.
Moreover, in a September 2023 article published in Eurosurveillance, researchers presented serological evidence of highly pathogenic avian influenza (HPAI) H5N1 virus infection in a pet cat and five dogs on a rural poultry farm in Italy. Thus, the high burden of infectious diseases is expected to augment the demand for veterinary diagnostics, thereby boosting the segment growth.
Thus, owing to the increase in the number of pet populations and the rise in strategic activities by the government authorities, the segment studied is likely to witness significant market growth over the forecast period.
