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United Kingdom Veterinary Healthcare Market Size (2024 - 2029)

The market size of the veterinary healthcare sector in the United Kingdom is projected to experience significant growth over the forecast period, driven by factors such as increased pet adoptions, innovative product developments, and supportive government and animal welfare initiatives. The introduction of new veterinary products is expected to further contribute to this expansion. However, challenges such as counterfeit medicines and rising costs associated with animal testing and veterinary services may impede the market's growth trajectory.

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Market Size of United Kingdom Veterinary Healthcare Industry

United Kingdom Veterinary Healthcare Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 1.75 Billion
Market Size (2029) USD 2.45 Billion
CAGR (2024 - 2029) 6.94 %
Market Concentration Low

Major Players

United Kingdom Veterinary Healthcare Market Major Players

*Disclaimer: Major Players sorted in no particular order

United Kingdom Veterinary Healthcare Market Analysis

The United Kingdom Veterinary Healthcare Market size is estimated at USD 1.75 billion in 2024, and is expected to reach USD 2.45 billion by 2029, growing at a CAGR of 6.94% during the forecast period (2024-2029).

The major factors driving the market's growth include the rise in pet adoptions, novel product developments in the veterinary industry, and increasing initiatives by governments and animal welfare associations in the region.

For instance, in August 2023, the Biotechnology and Biological Sciences Research Council (BBSRC) and the Department for Environment, Food and Rural Affairs (Defra) allocated GBP 9 million (USD 11.51 million) in funding for the second phase of the pioneering endemic livestock disease initiative. Similarly, in May 2023, the Biotechnology and Biological Sciences Research Council (BBSRC) received funding to mechanistically understand host-pathogen interactions in farmed animals and tackle veterinary antimicrobial resistance (Vet-AMR). The project comprised a UK component funded by BBSRC and an Indian component funded by DBT, with a total of GBP 5 million (USD 6.39 million) allocated from BBSRC and matched resources from DBT for successful Indian applicants.

Additionally, increasing product launches in the United Kingdom's veterinary industry may significantly contribute to market growth. For instance, in October 2023, MSD launched Bovilis Nasalgen-C, an intranasal live bovine coronavirus (BCoV) vaccine, in the United Kingdom. Bovilis Nasalgen-C is an immunization product designed for neonatal calves to mitigate clinical symptoms of upper respiratory tract disease and reduce nasal viral shedding caused by BCoV infection. Similarly, in April 2022, Vetoquinol introduced Felpreva to the UK market. Felpreva is a quarterly feline spot-on parasiticide targeting endoparasites and ectoparasites. It offers a solution to decrease the frequency of treatments and minimize stressful interactions between pet owners and their cats.

In conclusion, the factors mentioned above, such as increasing investments and product launches, are expected to boost the growth of the UK veterinary healthcare market during the forecast period. However, counterfeit medicines and the increasing cost of animal testing and veterinary services are expected to hinder the market's growth during the study period.

United Kingdom Veterinary Healthcare Industry Segmentation

As per the report's scope, veterinary healthcare can be defined as the science associated with diagnosing, treating, and preventing animal diseases. The increasing importance of the production of livestock animals is generating growth in the veterinary healthcare market. The UK veterinary healthcare market is segmented by product and animal type. The product segment is further segmented into therapeutics and diagnostics. The therapeutics segment is further segmented into vaccines, parasiticides, anti-infectives, medical feed additives, and other therapeutics, while the diagnostic segment is divided into immunodiagnostic tests, molecular diagnostics, diagnostic imaging, clinical chemistry, and other diagnostics. The animal type segment is further divided into dogs and cats, horses, ruminants, swine, poultry, and other animals. The report offers the value (USD) for the above segments.

By Product
Therapeutics
Vaccines
Parasiticides
Anti-infectives
Medical Feed Additives
Other Therapeutics
Diagnostics
Immunodiagnostic Tests
Molecular Diagnostics
Diagnostic Imaging
Clinical Chemistry
Other Diagnostics
By Animal Type
Dogs and Cats
Horses
Ruminants
Swine
Poultry
Other Animal Types
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United Kingdom Veterinary Healthcare Market Size Summary

The UK veterinary healthcare market is experiencing significant growth, driven by factors such as increased pet ownership, advancements in veterinary medicine, and supportive government initiatives. The rising awareness of pet health and wellness has led to higher spending on veterinary products, including medications and preventive care. The market is further bolstered by technological advancements, product innovations, and strategic collaborations among key industry players. These developments are expected to create new opportunities and drive the market's expansion over the forecast period. However, challenges such as counterfeit medicines and the rising costs of animal testing and veterinary services may impede growth.

The market is characterized by the presence of several global and international players, with a few major companies dominating the market share. These companies are actively launching new products and expanding their offerings to meet the growing demand for veterinary solutions. The veterinary vaccine segment, in particular, is poised for robust growth due to innovations in vaccine technology and increased investments from government and private entities. Collaborative efforts, such as partnerships and memoranda of understanding, are also contributing to the market's development by fostering advancements in vaccine manufacturing and animal health. Overall, the UK veterinary healthcare market is set to grow steadily, supported by a combination of technological progress, strategic initiatives, and a strong focus on pet health and welfare.

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United Kingdom Veterinary Healthcare Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Advanced Technology Leading to Innovations in Animal Healthcare

      2. 1.2.2 Increasing Pet Ownership

      3. 1.2.3 Increasing Productivity at the Risk of Emerging Zoonosis

    3. 1.3 Market Restraints

      1. 1.3.1 Use of Counterfeit Medicines

      2. 1.3.2 Increasing Pet Care Costs

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - in USD Millions)

    1. 2.1 By Product

      1. 2.1.1 Therapeutics

        1. 2.1.1.1 Vaccines

        2. 2.1.1.2 Parasiticides

        3. 2.1.1.3 Anti-infectives

        4. 2.1.1.4 Medical Feed Additives

        5. 2.1.1.5 Other Therapeutics

      2. 2.1.2 Diagnostics

        1. 2.1.2.1 Immunodiagnostic Tests

        2. 2.1.2.2 Molecular Diagnostics

        3. 2.1.2.3 Diagnostic Imaging

        4. 2.1.2.4 Clinical Chemistry

        5. 2.1.2.5 Other Diagnostics

    2. 2.2 By Animal Type

      1. 2.2.1 Dogs and Cats

      2. 2.2.2 Horses

      3. 2.2.3 Ruminants

      4. 2.2.4 Swine

      5. 2.2.5 Poultry

      6. 2.2.6 Other Animal Types

United Kingdom Veterinary Healthcare Market Size FAQs

The United Kingdom Veterinary Healthcare Market size is expected to reach USD 1.75 billion in 2024 and grow at a CAGR of 6.94% to reach USD 2.45 billion by 2029.

In 2024, the United Kingdom Veterinary Healthcare Market size is expected to reach USD 1.75 billion.

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