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The global market for veterinary medication was worth USD 29.10 billion in 2022, and it is expected to rise from USD 30.74 billion in 2022 to USD 44.89 billion by 2030, at a CAGR of 6.57% from 2023 to 2030. Key market drivers boosting the Veterinary Medicine market growth include rising rates of chronic diseases, rising rates of pet ownership, and rising meat consumption, which may be supported by efforts to encourage animal husbandry and an increase in pet adoption.
Any drug or other pharmaceutical used to treat animals falls under the umbrella phrase "veterinary medicine." Drugs like anti-infectives and parasiticides that are orally given to animals are examples from the field of veterinary medicine. Vaccines are an important part of veterinary medicine and are used to protect animals from diseases including equine influenza (EIV) and parainfluenza 3 (RSV). In addition, pharmaceutical effects can be achieved in animals by administering medicated feed additives, which are added to animal feed. Companion animals like dogs and cats, as well as farm animals like cattle, pigs, and poultry, all benefit from veterinary medicine. Animals can get medication through a variety of methods, including the oral route for most medications, the parenteral route for immunisations, and the topical route for some parasiticidal treatment preparations.
The increasing popularity of pet health insurance to cover the cost of veterinarian care in numerous developed countries is expected to fuel the market's growth. The markets for pet health insurance are especially robust in Sweden, the United Kingdom, and Canada. The popularity of pet health insurance in China has soared in recent years. The increasing popularity of pets and the public's increased awareness of pet health issues are two major factors contributing to the widespread adoption of pet healthcare insurance. The increased prevalence of zoonotic diseases in farm animals has the potential to change the structure of the market. By 2020, the livestock industry would account for more than 63% of the market for animal pharmaceuticals due to the increasing incidence and financial burden of zoonotic diseases among livestock animals. Parasites of bacteria that prey on farm animals also thrive, causing widespread disease and economic suffering.
Whether or not they are intended for human consumption, all types of animals can benefit from the usage of veterinary medicines. Animals are bred and mass-produced for a wide variety of therapeutic and preventative uses as well as for human consumption. Exotic species, domestic pets, and wild animals all receive them. The United Kingdom's system is used as an example of the type of government regulatory agency responsible for examining veterinary medicines and providing marketing authorisation before a product may be sold in most countries. Like human medicines, veterinary medicines are assessed in terms of their efficacy, quality, and safety. the language used to describe these standards varies from country to country. A drug's efficacy is measured by how well it fulfils its intended purpose. Products must be manufactured to correct standards, have a shelf life consistent with the manufacturer's claims, and contain acceptable levels of contaminants. The product ought to be risk-free for everyone involved, including the animal, the environment, veterinarians, and those who eat meat.
Livestock disease outbreaks pose serious economic risks since they might reduce output and cause havoc in the regional economy. Pathogens that infect livestock can also infect humans; examples include E. coli and salmonella. Antimicrobial resistance (AMR), food-borne zoonoses, and food safety are just a few of the health threats that the Food and Agricultural Organisation (FAO) is working to mitigate. For example, in order to better educate people in Central Asia and Europe about the dangers of antimicrobial resistance, the FAO intended to host a number of events during "World AMR Week 2022" that November.
Increases in both the global number of pets and livestock populations are driving forces in the development of the veterinary care industry. The veterinary medication market is bolstered by factors including the increasing incidence of animal diseases and the need for livestock products. The sector is also being bolstered by rising investments in animal healthcare. Market expansion for veterinary medicine is hindered, however, by factors such as the absence of veterinary infrastructure facilities in developing countries and the stringency of rules surrounding medicinal feed additives. On the other hand, rising concern for animal welfare presents a promising potential for the veterinary medicine industry.
Report Coverage
Global Veterinary Medicine research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Veterinary Medicine report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Veterinary Medicine competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Veterinary Medicine market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Veterinary Medicine market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Veterinary Medicine market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Ceva Santé Animale, Virbac SA., Boehringer Ingelheim International GmbH, Dechra Pharmaceuticals PLC., Merck & Co., Inc., Evonik Industries AG (RAG Stiftung), Archer Daniels Midland, Zoetis Inc., Elanco Animal Health Incorporated., Soparfin SCA., Chanelle Pharma Group, Norbrook Laboratories, Vetiqyubik S.A., Bayer AG
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Veterinary Medicine market based on the below-mentioned segments:
Global Veterinary Medicine Market, By Product
Drugs
Vaccines
Medicated Feed Additives
Global Veterinary Medicine market, By Distribution Channel
Veterinary Hospital Pharmacies
Retail Veterinary Pharmacies
Global Veterinary Medicine Market, By End User
Reference Laboratories
Point-of-Care Testing/In-House Testing
Veterinary Hospitals and Clinics
Others
Global Veterinary Medicine market, Regional Analysis
Any drug or other pharmaceutical used to treat animals falls under the umbrella phrase "veterinary medicine." Drugs like anti-infectives and parasiticides that are orally given to animals are examples from the field of veterinary medicine. Vaccines are an important part of veterinary medicine and are used to protect animals from diseases including equine influenza (EIV) and parainfluenza 3 (RSV). In addition, pharmaceutical effects can be achieved in animals by administering medicated feed additives, which are added to animal feed. Companion animals like dogs and cats, as well as farm animals like cattle, pigs, and poultry, all benefit from veterinary medicine. Animals can get medication through a variety of methods, including the oral route for most medications, the parenteral route for immunisations, and the topical route for some parasiticidal treatment preparations.
The increasing popularity of pet health insurance to cover the cost of veterinarian care in numerous developed countries is expected to fuel the market's growth. The markets for pet health insurance are especially robust in Sweden, the United Kingdom, and Canada. The popularity of pet health insurance in China has soared in recent years. The increasing popularity of pets and the public's increased awareness of pet health issues are two major factors contributing to the widespread adoption of pet healthcare insurance. The increased prevalence of zoonotic diseases in farm animals has the potential to change the structure of the market. By 2020, the livestock industry would account for more than 63% of the market for animal pharmaceuticals due to the increasing incidence and financial burden of zoonotic diseases among livestock animals. Parasites of bacteria that prey on farm animals also thrive, causing widespread disease and economic suffering.
Whether or not they are intended for human consumption, all types of animals can benefit from the usage of veterinary medicines. Animals are bred and mass-produced for a wide variety of therapeutic and preventative uses as well as for human consumption. Exotic species, domestic pets, and wild animals all receive them. The United Kingdom's system is used as an example of the type of government regulatory agency responsible for examining veterinary medicines and providing marketing authorisation before a product may be sold in most countries. Like human medicines, veterinary medicines are assessed in terms of their efficacy, quality, and safety. the language used to describe these standards varies from country to country. A drug's efficacy is measured by how well it fulfils its intended purpose. Products must be manufactured to correct standards, have a shelf life consistent with the manufacturer's claims, and contain acceptable levels of contaminants. The product ought to be risk-free for everyone involved, including the animal, the environment, veterinarians, and those who eat meat.
Livestock disease outbreaks pose serious economic risks since they might reduce output and cause havoc in the regional economy. Pathogens that infect livestock can also infect humans; examples include E. coli and salmonella. Antimicrobial resistance (AMR), food-borne zoonoses, and food safety are just a few of the health threats that the Food and Agricultural Organisation (FAO) is working to mitigate. For example, in order to better educate people in Central Asia and Europe about the dangers of antimicrobial resistance, the FAO intended to host a number of events during "World AMR Week 2022" that November.
Increases in both the global number of pets and livestock populations are driving forces in the development of the veterinary care industry. The veterinary medication market is bolstered by factors including the increasing incidence of animal diseases and the need for livestock products. The sector is also being bolstered by rising investments in animal healthcare. Market expansion for veterinary medicine is hindered, however, by factors such as the absence of veterinary infrastructure facilities in developing countries and the stringency of rules surrounding medicinal feed additives. On the other hand, rising concern for animal welfare presents a promising potential for the veterinary medicine industry.
Report Coverage
Global Veterinary Medicine research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Veterinary Medicine report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Veterinary Medicine competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Veterinary Medicine market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Ceva Santé Animale, Virbac SA., Boehringer Ingelheim International GmbH, Dechra Pharmaceuticals PLC., Merck & Co., Inc., Evonik Industries AG (RAG Stiftung), Archer Daniels Midland, Zoetis Inc., Elanco Animal Health Incorporated., Soparfin SCA., Chanelle Pharma Group, Norbrook Laboratories, Vetiqyubik S.A., Bayer AG |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Veterinary Medicine Market from 2021 to 2030.
- Market Forecast for Veterinary Medicine Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Veterinary Medicine competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Veterinary Medicine
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Veterinary Medicine market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Veterinary Medicine market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Ceva Santé Animale, Virbac SA., Boehringer Ingelheim International GmbH, Dechra Pharmaceuticals PLC., Merck & Co., Inc., Evonik Industries AG (RAG Stiftung), Archer Daniels Midland, Zoetis Inc., Elanco Animal Health Incorporated., Soparfin SCA., Chanelle Pharma Group, Norbrook Laboratories, Vetiqyubik S.A., Bayer AG
Primary Target Market
- Market Players of Veterinary Medicine
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Veterinary Medicine market based on the below-mentioned segments:
Global Veterinary Medicine Market, By Product
Drugs
Vaccines
Medicated Feed Additives
Global Veterinary Medicine market, By Distribution Channel
Veterinary Hospital Pharmacies
Retail Veterinary Pharmacies
Global Veterinary Medicine Market, By End User
Reference Laboratories
Point-of-Care Testing/In-House Testing
Veterinary Hospitals and Clinics
Others
Global Veterinary Medicine market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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Through INFINITIVE Data Expert is a professional Market Research services, I will identify the veterinary medicine market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.