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

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

The Italy veterinary healthcare market is expected to register a CAGR of 5% over the forecast period, 2022-2027.

The COVID19 pandemic has affected the entire healthcare sector including animal healthcare. In the initial phases of the pandemic, there was a high probability of animals getting infected due to being in close contact with human beings. Several cases were reported where all of them including companion animals, livestock animals, and animals kept in zoological facilities tested positive for the COVID-19 virus. For instance, all animals were sampled by their private veterinary surgeon during routine healthcare visits between 15 March and 11 May 2020 (Source data S1). The sampling of animals for this study was approved by the Ethics Committee of the Department of Veterinary Medicine, University of Bari, Italy (approval number 15/2020). A total number of 603 dogs and 316 cats were sampled from different Italian regions, mostly Lombardy (476 dogs, 187 cats). Animals were sampled either from regions severely affected by COVID-19 outbreaks in humans or from those that offered convenient access to samples. The Pets living with SARS-CoV-2-infected patients included 47 dogs and 22 cats for serology and 64 dogs and 57 cats for molecular investigations, with a single animal being sampled from each COVID-19-positive household. 3.3% of dogs and 5.8% of cats had measurable SARS-CoV-2 neutralizing antibody titers, with dogs from COVID-19-positive households being majorly likely to test positive than those from COVID-19-negative households. Thus, the COVID-19 pandemic has had a significant impact on the animal healthcare market.

Due to the increasing demand for COVID-19 testing kits for animals, major market players were involved in research and development activities and launched their products to help veterinarians during a pandemic. For instance, in December 2020, Zoetis initiated the development activities for a new vaccine based on initial concerns about SARS-CoV-2 in domestic animals. While In 2021, the R&D team responded to a request from the San Diego Zoo after COVID-19 infected the zoo’s Great Apes and provided a supply of experimental SARS-CoV-2 vaccines for the zoo’s emergency use in its Great Ape population; Still the vaccine is in the research process.

Furthermore, the spread of the virus has severely impacted the consultation and treatment of animals due to travel restrictions and in many cases closure of veterinary hospitals. To avoid such scenarios in Italy, the Italian Small Animal Veterinary Association (IVSA) issued guidelines for practitioners to make a transition to telemedicine wherever possible which yielded positive outcomes during crises. After the guidelines from the World Veterinary Association (WVA) and various other local veterinary associations, various countries have put veterinary services under the 'essential' category. This helped in curbing the spread of viruses in animals by having quick consultation and treatment at the right time in hospitals. Moreover, the outbreak resulted in supportive government policies for continued research and approval of animal drugs amid pandemics. Thus, the covid-19 pandemic has had a significant impact on Italy’s healthcare market.

The rising adoption of pet animals is the major driving factor for the growth of Italy's veterinary Healthcare Market. For instance, In 2021, as per the estimates of the European Pet Food Industry the Italians owned approximately 30 million fish at home, representing the most numerous pets in the country. Moreover, there were 13 million birds, over 10 million cats, and roughly nine million dogs living in Italian households. Furthermore, there is also an increasing use of animals for various research studies in Italy. According to the latest figures, Italy conducted 1.4 million procedures on animals in 2020, a 7.3% increase from 2019. The increase in the prevalence of various animal diseases in Italy is expected to create huge demand for the veterinary healthcare market in Italy. Also, there are few organizations creating awareness about various diseases in animals. For instance, As per the Economic and Social Commission for Asia and the Pacific (ESCAP) in Italy brings together some of Italy's leading experts in the field of veterinary parasitology. It aims to raise awareness and recommendation of appropriate and proven control measures to protect companion animals. However, the lack of veterinarians and the high costs associated with the veterinary healthcare practice are the major factors restraining the growth of the veterinary healthcare market in Italy.

Key Market TrendsVaccines Segment is Expected to Witness Growth Over 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, the law will safeguard animals. Thus, the increasing support initiatives by the government are responsible for the market growth during the forecast period.

In addition, increased usage of vaccines among livestock as well as companion animal boosts the 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 undertaken by key market players to expand vaccine portfolios is expected to expand the growth potential to a significant level. For instance, In August 2021, Zoetis Inc. agreed to acquire Jurox which develops, manufactures and markets a wide range of veterinary medicines for treating companion animals and livestock. Jurox’s operations are based in Australia, with additional regional offices and subsidiaries in New Zealand, the United States, Canada, and the United Kingdom. The financial terms of the transaction are not being disclosed. Thus, the increasing mergers, acquisitions, and new launches are fueling the growth of the market.

Competitive Landscape

The Italy veterinary healthcare market has rapidly evolved over the past decade. The industry has observed drastic changes in adopting market strategies such as product developments, mergers, and acquisitions in recent years. Thus, the Italy Veterinary Healthcare market has become a very competitive industry. The major market players are Zoetis Inc., Virbac, scil animal care company S.r.l., FATRO S.p.A., LIVISTO company, Candioli Pharma, Teknofarma S.p.A., Dox-al Italia S.p.A and Friulchem.

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