Italy Veterinary Healthcare Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.9 Billion |
| Market Size (2029) | USD 2.63 Billion |
| CAGR (2024 - 2029) | 6.73 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Italy Veterinary Healthcare Market Analysis
The Italy Veterinary Healthcare Market size is estimated at USD 1.9 billion in 2024, and is expected to reach USD 2.63 billion by 2029, at a CAGR of 6.73% during the forecast period (2024-2029).
Factors such as an increase in pet adoption and advanced technologies leading to innovations in animal healthcare are expected to bolster the market鈥檚 growth during the forecast period.
The growing pet population in Italy is expected to augment the demand for the veterinary healthcare market over the forecast period. For instance, according to the data published in GlobalPets in May 2024, the pet population in Italy stood at 65 million in 2023, the same as in 2022. Fish (29.9 million) accounted for most, followed by birds (12.9 million). There were 10.2 million cats and 8.8 million dogs in the country. Small mammals and reptiles made up the smallest pool, with 3.2 million. Thus, with the rising adoption of pets or animals in Italian households, the market studied is expected to witness significant growth in the coming years.
Moreover, there are a few organizations that are creating awareness about various diseases in animals. Also, many government initiatives are on the rise to provide animal shelter and welfare and harmonize veterinary medicines in Italy. For instance, in January 2024, the transparency list for generics was released, and upcoming legislation in the European Union aims to align national laws on veterinary medical products. The primary goal is to combat temporary drug shortages and reduce medication costs. Unlike human medicines, veterinary drugs do not qualify for reimbursement by the National Health Service. Hence, this initiative isn't about bolstering public funds but aiding individuals facing significant expenses in tending to their pets, thereby boosting the market鈥檚 growth.
Thus, owing to the increased animal population and government initiatives for animal welfare, the studied market is expected to witness significant growth in Italy over the forecast period. However, the lack of veterinarians and the high costs associated with veterinary healthcare practice are the major factors restraining the growth of the veterinary healthcare market in Italy.
Italy Veterinary Healthcare Market Trends
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鈥檚 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.
Italy Veterinary Healthcare Industry Overview
The Italian veterinary healthcare market is fragmented. The industry has observed drastic changes in the adoption of market strategies such as product developments, mergers, and acquisitions in recent years. Thus, the Italian veterinary healthcare market has become a very competitive industry. The major market players are Zoetis Inc., Virbac, Scil Animal Care Company GmbH, Fatro SpA, and Livisto.
Italy Veterinary Healthcare Market Leaders
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FATRO S.p.A.
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Candioli Pharma
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Friulchem
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Teknofarma s.r.l
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Scil animal care company GmbH
*Disclaimer: Major Players sorted in no particular order
Italy Veterinary Healthcare Market News
- November 2022: Fatro acquired Quadrel with the aim of emphasizing growth in the companion animal market. This initiative provided an investment of EUR 7.6 million (USD 7.6 million) to 13 research centers specializing in neglected tropical diseases. The addition of QL-A02 helps boost Fatro's pipeline in the pet sector.
- April 2022: Vetoquinol launched Falpreva for veterinarians in five European markets, including Italy. Falpreva is a spot-on combination for cats that treats both internal and external parasite infestations or infections, including tapeworms. It remains active for up to three months with a single dose.
Italy Veterinary Healthcare Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Advanced Technology Leading to Innovations in Animal Healthcare
4.2.2 Increasing Pet Ownership
4.3 Market Restraints
4.3.1 Lack of Veterinarians and Shortage of Skilled Farm Workers
4.3.2 Increasing Cost of Animal Testing and Veterinary Services
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Product
5.1.1 Therapeutics
5.1.1.1 Vaccines
5.1.1.2 Parasiticides
5.1.1.3 Anti-infectives
5.1.1.4 Medical Feed Additives
5.1.1.5 Other Therapeutics
5.1.2 Diagnostics
5.1.2.1 Immunodiagnostic Tests
5.1.2.2 Molecular Diagnostics
5.1.2.3 Diagnostic Imaging
5.1.2.4 Clinical Chemistry
5.1.2.5 Other Diagnostics
5.2 By Animal Type
5.2.1 Dogs and Cats
5.2.2 Horses
5.2.3 Ruminants
5.2.4 Swine
5.2.5 Poultry
5.2.6 Other Animals
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Zoetis Inc.
6.1.2 Virbac
6.1.3 Scil animal care company GmbH
6.1.4 Fatro S.p.A
6.1.5 Livisto
6.1.6 Candioli Pharma
6.1.7 Teknofarma s.r.l
6.1.8 Dox-al Italia S.p.A
6.1.9 Friulchem
- *List Not Exhaustive
Italy Veterinary Healthcare Industry Segmentation
Veterinary healthcare can be specified as the science associated with the diagnosis, treatment, and prevention of diseases in animals. Companion animals are animals that can be tamed or adopted for companionship or as house/office guards and farm animals are animals raised for meat- and milk-related products.
The Italian veterinary healthcare market is segmented by product and animal type. By product, the market is segmented into therapeutics and diagnostics. By animal type, the market is segmented into dogs and cats, horses, ruminants, swine, poultry, and other animals.
The report offers value (in USD) for the above segments.
| By Product | |||||||
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| By Animal Type | |
| Dogs and Cats | |
| Horses | |
| Ruminants | |
| Swine | |
| Poultry | |
| Other Animals |
Italy Veterinary Healthcare Market Research FAQs
How big is the Italy Veterinary Healthcare Market?
The Italy Veterinary Healthcare Market size is expected to reach USD 1.9 billion in 2024 and grow at a CAGR of 6.73% to reach USD 2.63 billion by 2029.
What is the current Italy Veterinary Healthcare Market size?
In 2024, the Italy Veterinary Healthcare Market size is expected to reach USD 1.9 billion.
Who are the key players in Italy Veterinary Healthcare Market?
FATRO S.p.A., Candioli Pharma, Friulchem, Teknofarma s.r.l and Scil animal care company GmbH are the major companies operating in the Italy Veterinary Healthcare Market.
What years does this Italy Veterinary Healthcare Market cover, and what was the market size in 2023?
In 2023, the Italy Veterinary Healthcare Market size was estimated at USD 1.77 billion. The report covers the Italy Veterinary Healthcare Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Italy Veterinary Healthcare Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Italy Veterinary Healthcare Industry Report
Statistics for the 2024 Italy Veterinary Healthcare market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Italy Veterinary Healthcare analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
