According to the Market Research Scope Analysis, the global Veterinary Medicine market size is expected to reach USD 46 billion by 2033, with a CAGR of around 7% during 2025–2033.

 

Veterinary Medicine Market Overview:

 

Veterinary medicine, which deals with prevention, diagnosis, and treatment of diseases, disorder, and injury in animals. The number of animal adoptions, increased veterinarian spending, a growth in veterinary practitioners and increased demand for pet insurance are worldwide popular. Veterinary medicine has been commonly practiced. In addition, there is an growing understanding of the welfare of animals, government programmes and several NGOs that are involved in animal health. Zoonotic and chronic diseases are increasingly the major driver pushing the veterinary medicine market. 

 

Over the last few decades, the global livestock population has also increased steadily. In addition, the increased demand for veterinary drug and animal vaccinations is expected to increase R&D and procedural improvement, the rates for pet acceptance, and the increased intake of meat and compulsory vaccination. Increasing pet ownership means that there is a need for improved care services for associated animals, leading to higher welfare spending on animals. The main driving forces in veterinary medicine are government initiatives for the protection of domesticated animals and the rising market for companion animals. The high purchasing force and the concentrated structure of the large animal goods industry would possibly push the demand in the United States and Europe. The growth in the number of animals on the market is the biggest driver. 

 

Over the past few years, the veterinary industry has been influenced positively by innovative product releases, strategic partnerships, acquisitions and fusions. In addition, demand for veterinary medicinal products has increased significantly due to the rising ownership of pets and, as a result, stimulates market development.

 

Veterinary Medicine Market Segments:

 

Segmentation by Product:

 

• Biologics
• Pharmaceuticals

 

Segmentation by Mode of Delivery:

 

• Oral
• Parenteral
• Others

 

Segmentation by End Use:

 

• Reference Laboratories
• Veterinary Hospitals & Clinics
• Point-of-care testing/In-house testing
• Others

 

Veterinary Medicine Market Regional Analysis:

 

In this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].

 

Veterinary Medicine were dominated by North America in 2024 followed by European countries, owing to the supportive legislation of the government such as the EU Rule on Veterinary Drugs and increasing pet insurance in the European countries. The growing prevalence of zoonotic diseases and beneficial insurance systems are main factors that attribute to superiority. In addition, the increased use of pet health insurance in the US would also lead to the development of the veterinary medicines industry. In Asia Pacific, over the forecast period, the market is expected to see profit-making progress. The markets in the area have been promoted by factors such as higher animal adoption and raising health problems in livestock.

 

Key Players 

 

Merck Ceva Sante Animale;

Neogen Corporation Biogenesis Bago;

Vetoquinol S.A.;

Virbac, Boehringer Ingelheim GmbH;

Animal Health;

Nutreco N.V.;

Kindred Biosciences, Inc.;

Elanco;

Indian Immunologicals Ltd.;

Zoetis.