- Vaccine
- Live attenuated vaccines
- DNA Vaccines
- Recombinant Vaccines
- Inactivated Vaccines
- Others
- Pharmaceuticals
- Parasiticides
- Anti-inflammatory
- Analgesics
- Medicated Feed Additives
Veterinary Medicine Market size was valued at USD 29.2 billion in 2022 and is anticipated to grow at a CAGR of 7.4% during the forecast period 2023-2029. Veterinary drugs are used to treat injuries, illnesses, and diseases in animals. Vaccines, veterinary medicines such as antimicrobial drugs, and diagnostic kits are examples of veterinary medicine used to heal animals of pathogens. Furthermore, the medicine can be used for animal health care, surgery, and prevention. Veterinary medicine is used in several medical conditions to treat animals. It contains vaccines, which build immunity in animals against many infections illnesses like respiratory syncytial, influenza and parainfluenza 3. It contains drugs such as parasiticides and Veterinary anti-infective drugs. These drugs are given to animals orally. Furthermore, this medicine is given to different kinds of animals including livestock animals such as poultry, cattle and pigs and companion animals like dogs and cats. The rising number of chronic diseases greatly contributes in driving the global market. A few other factors that are driving the veterinary medicine market are procedural developments, obligatory vaccination, increasing intake of meats and pet adoption.
Veterinary Medicine Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
12.4%
Largest Market
North America
Fastest Growing Market
Europe
Veterinary Medicine Market Dynamics
Increasing number of pet owners and flow towards livestock population are the major reasons for the increasing demand of veterinary medicine. In addition, a few other factors that drive veterinary medicine market growth are increasing number of occurrence of medical illnesses in animals and increasing demand for livestock. Increase in animal healthcare expenses is also contributing in driving the market growth. Strict policies related with medicate feed additives as well as shortages of veterinary infrastructure facilities in undersized nations are the factors that restrain the veterinary medicine market growth. Another restraining factor for veterinary medicine industry is COVID-19. COVID-19 pandemic greatly affected the market growth as these industries asked to limit the animal patient care to intensely sick animals. Rising awareness among pet owners about animal health increases the chance for the veterinary medicine market to grow.
Veterinary Medicine Market Regional Analysis
North-America Got Significant Share
North America dominates the veterinary medicine market due to the prevalence of favourable government policies and rising initiatives to improve animal health, whereas the Asia-Pacific region is expected to grow at the fastest rate from 2023 to 2029 due to the expansion of manufacturing facilities and livestock vaccination.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Veterinary Medicine Market Segmentation
By Product Type
By Animal Type
- Production
- Poultry
- Cattle
- Sheep & Goats
- Companion
- Dogs
- Horses
- Others
By End User
- Reference Laboratories
- Point-of-care testing/In-house testing
- Veterinary Hospitals & Clinics
- Others
Frequently Asked Questions
The Veterinary Medicine Market size was valued USD 29.2 billion in 2022
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
Animal Type, Product, Distribution Channel
- Merck Animal Health
- Ceva Sante Animale
- Zoetis
- Boehringer Ingelheim GmbH
- Elanco
- Nutreco N.V.
- Virbac
- Kindred Biosciences
- Biogenesis Bago
- Indian Immunologicals
- Hester Biosciences
- Phibro Animal Health
- China Animal Husbandry Co. Ltd
- Dechra Pharmaceuticals PLC
- Neogen Corporation
- Sanofi
- Vetoquinol