The veterinary healthcare market in Italy was valued at USD 1902.0 million in 2014 and is projected to reach USD 2897.0 million by 2020, at a CAGR of 7.26% during the forecast period from 2014 to 2020.
Italy's veterinary healthcare market is gaining importance as a result of manufacturers focusing on the production of products with specialized formulations and manufacturing processes.
The importance of livestock animals is generating growth in the animal healthcare market owing to more people consuming meat and dairy products. The boom in population and the stable economy are also expected to result in increased demand for protein-rich foods, especially in developing regions. Animal health companies are well-positioned to address this growing emerging market demand for higher-protein diets. However, the increased competition for cultivated land and scarcity of arable land are the major restraints for the market growth.
The new types of diseases in animals and their subsequent transfer to humans via animal food product consumption and companionship are escalating the veterinary healthcare industry globally. The strategic decisions in the research and development activities of manufacturers are also expected to positively impact Italy's veterinary healthcare market.
This market has faced challenges in the past five years due to the fall in disposable incomes. The rising demand from farms has also become a major constraint for the market and has restricted this industry's growth. However, the changing attitude of people towards pet ownership has given this market a much-needed reason to grow. Meanwhile, radio and TV shows have increased consumer awareness regarding the animal health issues. Pet insurance is also one of the key factors for the growth of Italy's veterinary healthcare market. Increased production of farm animal products (eggs, milk, beef, and other dairy products), increased pet ownership, and new product developments in animal health products are the major driving factors for this market.
Italy's veterinary healthcare market has been segmented on the basis of products into vaccines, anti-infectives, parasiticides, medicinal feed additives, and other pharmaceuticals. On the basis of animals, the market has been segmented into farm animal health market and companion animal health market. The farm animal health market segment has been further segmented into poultry health market, swine health market, fish health market, cattle health market, and sheep health market. The companion animal health market has been further segmented into dogs and cats market and horse health market.
Some of the key players in the market are:
Bayer Animal Health
Ceva Animal Health
Elanco Animal Health
Merial (Animal Health division of Sanofi)
Zoetis Animal Healthcare
Key Deliverables in the Study
Market analysis for Italy's veterinary healthcare market, with region-specific assessments and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect Italy's veterinary healthcare market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
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