Within Europe, the countries with the largest number of pets and pet-related expenditure are UK, Spain and France. Overall the market value of pet care both in Western Europe and Eastern Europe in 2016 was over 25 billion and 4 billion euros respectively. The Veterinary Surgical Devices Market in Europe was worth USD 221 million in 2018 and estimated to be growing at a CAGR of 6.2%, to reach USD 298.54 million by 2023. In comparison, the North American market was worth USD 323 million in 2018 and estimated to be growing at a CAGR of 6.15%. As the growth rates and demand in Europe continues to grow , it would be a favourable time to invest in the growing market.
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In Europe, more and more people are owning pets and thus the need for veterinarian services is on the rise. The main factors driving the growth are rising animal health expenditure, growing companion animal population coupled with pet insurance, and increasing awareness of animal health. Moreover, growing awareness among individuals in developing Eastern Europe regions regarding animal health provides great future potential for the market. If you are looking to expand, EuroDev is here to help.
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