Veterinary Medicine Market By Animal Type, By Product, By Distribution Channel and Region Forecast 2019-2030

Veterinary Medicine Market Size, Share, Growth, Trends, and Global Industry Analysis: By Animal Type (Companion Animals and Livestock Animals), By Product (Vaccines, and Medicated Feed Additives), By Distribution Channel (Retail Veterinary Pharmacies and Veterinary Hospitals Pharmacies) and Region Forecast 2019-2030

Veterinary Medicine Market size was valued at US$ 29.2 billion in 2023 and is poised to grow at a CAGR of 7.4% from 2024-2030. 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 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 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 market to grow.

Veterinary Medicine Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 29.2 billion

Market CAGR

12.4%

By Product Type

  • Vaccine
    • Live attenuated vaccines
    • DNA Vaccines
    • Recombinant Vaccines
    • Inactivated Vaccines
    • Others
  • Pharmaceuticals
    • Parasiticides
    • Anti-inflammatory
    • Analgesics
  • Medicated Feed Additives

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

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Key Features of the Report

  • The veterinary medicine market 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 competitors 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 startups details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porters Five Force Analysis

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Frequently Asked Questions

The veterinary medicine market size was valued at US$ 29.2 billion in 2023 and is anticipated to grow at a CAGR of 7.4% from 2024-2030.

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

Author image

Author

Manoj Kumar

Manoj Kumar is a postgraduate in Life Sciences with over seven years of dedicated experience in the fields of anima.....

1.Executive Summary
2.Global Veterinary Medicine Market Introduction 
2.1.Global Veterinary Medicine Market  - Taxonomy
2.2.Global Veterinary Medicine Market  - Definitions
2.2.1.Product Type
2.2.2.Animal Type
2.2.3.End User
2.2.4.Region
3.Global Veterinary Medicine Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Veterinary Medicine Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Veterinary Medicine Market  By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Vaccine
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Pharmaceuticals
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Medicated Feed Additives
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
6.Global Veterinary Medicine Market  By Animal Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Production
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Companion
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
7.Global Veterinary Medicine Market  By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Reference Laboratories
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Point-of-care testing/In-house testing
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Veterinary Hospitals & Clinics
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Others
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
8.Global Veterinary Medicine Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Veterinary Medicine Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Vaccine
9.1.2.Pharmaceuticals
9.1.3.Medicated Feed Additives
9.2.  Animal Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Production
9.2.2.Companion
9.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Reference Laboratories
9.3.2.Point-of-care testing/In-house testing
9.3.3.Veterinary Hospitals & Clinics
9.3.4.Others
9.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Veterinary Medicine Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Vaccine
10.1.2.Pharmaceuticals
10.1.3.Medicated Feed Additives
10.2.  Animal Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Production
10.2.2.Companion
10.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Reference Laboratories
10.3.2.Point-of-care testing/In-house testing
10.3.3.Veterinary Hospitals & Clinics
10.3.4.Others
10.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
11.Asia Pacific (APAC) Veterinary Medicine Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Vaccine
11.1.2.Pharmaceuticals
11.1.3.Medicated Feed Additives
11.2.  Animal Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Production
11.2.2.Companion
11.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Reference Laboratories
11.3.2.Point-of-care testing/In-house testing
11.3.3.Veterinary Hospitals & Clinics
11.3.4.Others
11.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Veterinary Medicine Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Vaccine
12.1.2.Pharmaceuticals
12.1.3.Medicated Feed Additives
12.2.  Animal Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Production
12.2.2.Companion
12.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Reference Laboratories
12.3.2.Point-of-care testing/In-house testing
12.3.3.Veterinary Hospitals & Clinics
12.3.4.Others
12.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Veterinary Medicine Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Vaccine
13.1.2.Pharmaceuticals
13.1.3.Medicated Feed Additives
13.2.  Animal Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Production
13.2.2.Companion
13.3.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Reference Laboratories
13.3.2.Point-of-care testing/In-house testing
13.3.3.Veterinary Hospitals & Clinics
13.3.4.Others
13.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Merck Animal Health
14.2.2.Ceva Sante Animale
14.2.3.Zoetis
14.2.4.Boehringer Ingelheim GmbH
14.2.5.Elanco
14.2.6.Nutreco N.V.
14.2.7.Virbac
14.2.8.Kindred Biosciences
14.2.9.Biogenesis Bago
14.2.10.Indian Immunologicals
14.2.11.Hester Biosciences
14.2.12.Phibro Animal Health
14.2.13.China Animal Husbandry Co. Ltd
14.2.14.Dechra Pharmaceuticals PLC
14.2.15.Neogen Corporation
14.2.16.Sanofi
14.2.17.Vetoquinol
15. Research Methodology 
16. Appendix and Abbreviations 

Key Market Players

  • 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

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