France Veterinary Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

France Veterinary Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The France Veterinary Healthcare Market is expected to witness a CAGR of 4% during the forecast period (2022-2027).

The Federation of Veterinarians of Europe in their July 2021 article indicated that the COVID-19 pandemic had greatly impacted the veterinary services in the European countries, including France, where only urgent and emergency treatment was allowed, which had a great impact on the loss of clients and revenue. The article also indicated that several veterinarians had suffered from physical and mental illness associated with the pandemic, isolation, financial restrictions, and the long-term effects of the infection. The restrictions imposed during the COVID-19 pandemic adversely affected the veterinary healthcare sector, with reductions in the number of diagnostic tests and treatments performed. Such reduction impacted the growth of the veterinary healthcare market.

Increasing demand to curb chronic and zoonotic diseases in livestock and pet animals is the key driver of this market. The global livestock population has been experiencing rapid growth over the past few decades. In developing countries like France, the demand for livestock products is increasing. Moreover, rising concerns about food security and animal husbandry are anticipated to boost demand for veterinary pharmaceuticals and vaccines for the livestock population in the forecast period.

In January 2022, following several occurrences of avian flu in France, the government ordered farmers to slaughter 2.5 million animals (H5N1). Since late November 2021, around 1.2 million birds have been slaughtered as a result of infection or as a preventative measure due to the disease's rapid spread. A large number of infections in the region require the need of proficient molecular diagnostics, which would add to the growth of the market in the forecast period.

The regional market is driven by technological advancements in veterinary health care, and this is anticipated to offer future growth opportunities. These advancements include the advent of efficient information management systems, animal owner mobile technology, and vaccine banks. A high focus on innovation in animal health has given rise to certain measures that are strengthening market growth prospects. For instance, the Innovative Medicines Initiative (IMI) is a public-private partnership to support collaborative research to boost innovation in veterinary pharmaceuticals in France.

Industry players are trying to develop innovative products such as mAbs and carrier drugs for better treatment outcomes. For instance, in November 2021, Fujifilm expanded into veterinary business with acquisition of French company DMV Imaging and launched FUJIFILM VET Systems France S.A.S.

Thus, due to the afore mentioned factors, the veterinary healthcare market in France is expected to grow significantly over the forecast period. However, lack of infrastructure and funding, use of counterfeit medicine and the rising cost of veterinary services are likely to hinder the market growth.

Key Market TrendsVaccines is expected to lead the France Veterinary Healthcare Market

The Vaccines segment in France's veterinary healthcare market is expected to register healthy growth during the forecast period due to the presence of good healthcare infrastructure in France and it is also experiencing positive trends in R&D developments. Inter-Governmental Organizations are making reforms to ensure health through the process of surveillance and vaccination. Also, awareness about pet health care and diagnostic techniques in the veterinary health care market will drive the market.

According to the estimates of the European Pet Food Industry: Facts and Figures 2020 (FEDIAF), there were around 7,500,000 dogs and 15,00,000 cats in France. The same source also reports that in France the small mammal population is 36,00,000.

In December 2020, the French government proposed new measures to fight pet abandonment such as an owner certificate and online charter. The document would explain the new owner’s responsibilities and lay out expectations for the proper care of their new pet, including healthcare needs, vaccinations, the need to let the pet go outside, and the financial cost of care. This will create awareness among pet owners regarding their health, thus driving the veterinary healthcare market.

Hence, the market accounts for the high adoption of the pet population, thereby stimulating the demand for animal healthcare to control the prevalence of diseases. Therefore, all these factors are expected to drive the market in France.

Competitive Landscape

The major players in the France Veterinary Healthcare Market include - Boehringer Ingelheim International GmbH, Ceva Animal Health, Inc., Elanco, IDEXX Laboratories, Merck & Co. Inc., Vetoquinol, and Zoetis Inc.

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