United Kingdom Veterinary Healthcare Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

United Kingdom Veterinary Healthcare Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

United Kingdom veterinary healthcare market is projected to register a CAGR of 9.5% during the forecast period (2022-2027).

A slight short-term negative impact had been witnessed on United Kingdom veterinary healthcare market, primarily due to the reduced veterinary visits and the shortage of veterinary medicines during the outbreak of COVID-19. The country was in lockdown and had suspended trade with other countries and implemented travel restrictions. This affected the import and export activities of veterinary medicines and diagnostics, leading to a decline in the sales of many products. Supply disruption and medicine shortages of veterinary medicines have been observed in the country, primarily due to the temporary lockdown of manufacturing sites, export bans, and increased demand for medicines for the treatment of COVID-19.

The government is taking measures to mitigate the supply of medicines. For instance, the European Medicines Agency issued guidance for companies responsible for veterinary medicines, with respect to the adaptations to the regulatory framework, primarily to address the challenges faced during this pandemic situation.

The rising technological advancements and increasing awareness of zoonotic and foodborne diseases are key factors propelling the growth of the studied market. For instance, in February 2022, United Kingdom invested over EUR 200 million on prevention of zoonotic diseases, as per the government of United Kingdom. The funds were allocated to research institutions mainly focusing on the avian flu and bovine tuberculosis.

Additionally, the increasing product launches in United Kingdom may also help the market to grow. For instance, in April 2022, Vetoquinol launched Felpreva, a three-monthly feline spot-on parasiticide that acts on both endo- and ectoparasites, in United Kingdom market. Felpreva provides an option to reduce the frequency of treatments, lessening stressful interactions between owners and their cats.

Hence, owing to these factors, the market for veterinary healthcare in United Kingdom is expected to witness rapid growth over the forecast period. However, the use of counterfeit medicines and increasing cost of veterinary services are likely to hinder the market growth.

United Kingdom Veterinary Healthcare Market TrendsThe Molecular Diagnostics Segment Dominates the Veterinary Healthcare Market

During the pandemic, the government authorities, such as the British Veterinary Association, recommended veterinary hospitals and clinics prioritize urgent and emergency visits and procedures. This reduced the adoption and usage of diagnostic equipment used in veterinary healthcare management during the COVID-19 pandemic. However, with the restrictions lifted, the segment is expected to grow significantly.

Molecular diagnostics refers to the class of tests performed on an animal that can assess its health at the molecular level. It identifies specific sequences in genes, DNA, RNA, and proteins and provides insights into whether the animal has a disease or may suffer from a disease in the future. Molecular diagnostic tests are faster and have more sensitivity compared to conventional tests. However, they are more expensive than other diagnostic tests.

The majority of the commercial products in United Kingdom veterinary molecular diagnostics market are available in the form of kits. These kits are predominantly based on polymerase chain reaction (PCR) techniques and help screen a family of related disorders. Meanwhile, the kits based on microarrays are witnessing a steady increase in their market share.

Polymerase chain reaction has become one of the standard procedures to diagnose almost all viral diseases in veterinary medicine, owing to its high sensitivity, versatility, and reproducibility. In the past few decades, it has become an indispensable component of routine veterinary diagnostics. In veterinary sciences, the identification and control of pathogens in poultry, domestic, and wild animals represent continuous challenges.

Moreover, many diagnostic techniques have been developed to detect individual infectious agents to identify and confirm pathogens or genetic elements. The latest molecular diagnostic technologies are more advantageous, as they offer high throughput results, are more sensitive, and require less time.

Moreover, the market players are focusing on frequent product launches, which is driving the growth of the market studied. For instance, in September 2020, Zoetis launched Vetscan Imagyst, a diagnostic platform that uses a combination of image recognition technology, algorithms and cloud-based artificial intelligence (AI) to deliver accurate testing results to the clinic. With artificial intelligence-backed deep learning capabilities, Imagyst revolutionizes stool testing in visiting clinics by enabling veterinarians to quickly and accurately diagnose patients and treat them as needed. Such product launches are likely to have a positive impact on the segment growth.

Also, in June 2022, Thermo Fisher Scientific, a company with focus on animal molecular diagnostic testing, held the Animal Health Dx Summit, where effective testing techniques and technologies, efficient and economical way to scale up testing were discussed.

Thus, owing to the above mentioned factors, the market is expected to grow during the forecast period.

United Kingdom Veterinary Healthcare Market Competitive Analysis

United Kingdom veterinary healthcare market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market, instances include Bayer AG, Boehringer Ingelheim, MSD Animal Health, Virbac Corporation, Ceva Santé Animale among others.

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