Veterinary Medicine Market Size Projected to US$ 55.8 billion by 2030

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The global veterinary medicine market size is expected to be worth around US$ 55.8 billion by 2030, according to a new report by Vision Research Reports.

The global veterinary medicine market size was valued at US$ 30.2  billion in 2020 and is anticipated to grow at a CAGR of 8.4% during forecast period 2021 to 2030.

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Veterinary Medicine Market (By Animal Type: Production, Companion; By Product: Biologics, Pharmaceuticals, Medicated Feed Additives; By Mode of Delivery: Oral, Parenteral, Others (Topical, carrier); By End-use: Reference Laboratories, Point-of-care testing/In-house testing, Veterinary Hospitals & Clinics, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope Details
Market Size US$ 55.8 Bn by 2030
Growth Rate CAGR of 8.4% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Animal type, product, mode of delivery, end use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Merck Animal Health; Ceva Sante Animale; Vetoquinol S.A.; Zoetis; Boehringer Ingelheim GmbH; Elanco, Nutreco N.V.; Virbac; Kindred Biosciences, Inc.; Biogenesis Bago; Indian Immunologicals Ltd.; Neogen Corporation; Hester Biosciences; Philbro Animal Health

Growth Factors

 The companion animal segment is anticipated to demonstrate the fastest growth during the forecast period owing to the increasing prevalence of chronic diseases and rising demand for advanced treatment alternatives for canines suffering from chronic diseases.

The increasing cases of zoonotic and chronic diseases are the key factors driving the market for veterinary medicine. The global livestock population has also been experiencing rapid growth over the past few decades. According to the USDA, there were around 103.0 million cattle and 32.1 million beef cow in the U.S. as of July 2020 and are expected to grow substantially in coming years. Moreover, rising R&D and procedural advancements, pet adoption rate, and increasing consumption of meats and mandatory vaccination are anticipated to boost demand for veterinary pharmaceuticals and vaccines for animals in the near future.

By Animal Type Analysis

The production animal segment led the market for veterinary medicine and accounted for more than 55.0% share of the global revenue in 2020. The production animal segment is further classified into swine, poultry, cattle, fish, and sheep and goats.

The companion animal segment is expected to demonstrate the fastest growth over the forecast period owing to the increasing prevalence of chronic diseases. The companion animal is further sub-segmented into horses, cats, dogs, and others.

By Product Analysis

The pharmaceuticals segment dominated the market for veterinary medicine and held the largest revenue share of more than 57.0% in 2020. This is owing to therising prevalence of zoonotic diseases, brucellosis, and food-borne diseases.

The biologics segment is expected to show the fastest growth in the market for veterinary medicine over the forecast period owing to the increased usage of vaccines among livestock as well as companion animals for disease prevention.

The medicinal feed additives segment is also expected to witness a significant growth rate over the forecast period owing to their increasing usage in maintaining animal health.

By Mode of Delivery Analysis

The parenteral segment dominated the market for veterinary medicine and held the largest revenue share of over 44.0% as of 2020. The growth can be credited to the availability of product availibility and instant onset of action.

The oral segment is projected to witness the fastest CAGR over the forecast period owing to the advancements in the oral veterinary medicines segment, such as chewable tablets. In addition, increasing prevalence of chronic conditions in pets is also expected to drive the market for veterinary medicine.

By End-use Analysis

The veterinary hospitals and clinics segment dominated the market for veterinary medicine and held the largest revenue share of over 72.0% in 2020. The growth can be attributed to the advanced diagnostic imaging, novel therapies, nuclear and regenerative medicines, laser diagnostics, and specialized surgeries, available in the vet hospitals and clinics.

The reference laboratories segment is expected to exhibit the fastest growth over the forecast period. This growth is because these laboratories enable testing of various infections, toxic agents, and chronic diseases in specimen which are obtained from animals. These tests include general laboratory tests as well as specialized tests.

The point-of-care testing/in-house testing segment is also expected to demonstrate significant growth rate owing to their convenience, precise symptomatic testing, easy usage, and quick analysis. Strategic developments by companies are expected to contribute to the growth of the market for veterinary medicine.

By Regional Analysis

North America dominated the veterinary medicine market and accounted for revenue share of over 38.4% in 2020. The dominance is followed by the European countries due to the favorable government regulations such as the EU Veterinary Medicines Regulation and increasing adoption of pet insurance in European countries.

In Asia Pacific, the market for veterinary medicine is expected to show lucrative growth over the forecast period. Factors such as higher adoption of companion animals and increasing health concerns in animals have promoted the market growth in the region.

Key Players

  • Merck Animal Health
  • Ceva Sante Animale
  • Vetoquinol S.A.
  • Zoetis
  • Boehringer Ingelheim GmbH
  • Elanco
  • Nutreco N.V.
  • Virbac
  • Kindred Biosciences, Inc.
  • Biogenesis Bago
  • Indian Immunologicals Ltd.
  • Neogen Corporation
  • Hester Biosciences
  • Philbro Animal Health

Market Segmentation

  • Animal Type
    • Production
      • Poultry
      • Swine
      • Cattle
      • Sheep & Goats
      • Fish
    • Companion
      • Dogs
      • Cats
      • Horses
      • Others
  • Product
    • Biologics
      • Vaccine
        • Live attenuated vaccines
        • DNA Vaccines
        • Recombinant Vaccines
        • Inactivated Vaccines
        • Others
      • Others
    • Pharmaceuticals
      • Parasiticides
      • Anti-infectives
      • Anti-inflammatory
      • Analgesics
      • Others
    • Medicated Feed Additives
  • Mode of Delivery
    • Oral
    • Parenteral
    • Others (Topical, carrier)
  • End-use
    • Reference Laboratories
    • Point-of-care testing/In-house testing
    • Veterinary Hospitals & Clinics
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Russia
    • Asia Pacific
      • Japan
      • China
      • India
    • Latin America
      • Brazil
      • Mexico
      • Argentina
    • Middle East & Africa
      • South Africa
      • Saudi Arabia

Table of Contents

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Mode of Delivery Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Veterinary Medicine Market, By Animal Type

7.1.  Veterinary Medicine Market, by Animal Type, 2021-2030

7.1.1.    Production

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Companion

7.1.2.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Veterinary Medicine Market, By Product

8.1.  Veterinary Medicine Market, by Product, 2021-2030

8.1.1.    Biologics

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Pharmaceuticals

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Medicated Feed Additives

8.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Veterinary Medicine Market, By Mode of Delivery

9.1.  Veterinary Medicine Market, by Mode of Delivery, 2021-2030

9.1.1.    Oral

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Parenteral

9.1.2.1.        Market Revenue and Forecast (2017-2030)

9.1.3.    Others (Topical, carrier)

9.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Veterinary Medicine Market, By End-use

10.1.        Veterinary Medicine Market, by End-use, 2021-2030

10.1.1.  Reference Laboratories

10.1.1.1.      Market Revenue and Forecast (2017-2030)

10.1.2.  Point-of-care testing/In-house testing

10.1.2.1.      Market Revenue and Forecast (2017-2030)

10.1.3.  Veterinary Hospitals & Clinics

10.1.3.1.      Market Revenue and Forecast (2017-2030)

10.1.4.  Others

10.1.4.1.      Market Revenue and Forecast (2017-2030)

Chapter 11.      Global Veterinary Medicine Market, Regional Estimates and Trend Forecast

11.1.        North America

11.1.1.  Market Revenue and Forecast, by Animal Type (2017-2030)

11.1.2.  Market Revenue and Forecast, by Product (2017-2030)

11.1.3.  Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.1.4.  Market Revenue and Forecast, by End-use (2017-2030)

11.1.5.  U.S.

11.1.5.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.1.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.1.5.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.1.5.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.1.6.  Rest of North America

11.1.6.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.1.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.1.6.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.1.6.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.2.        Europe

11.2.1.  Market Revenue and Forecast, by Animal Type (2017-2030)

11.2.2.  Market Revenue and Forecast, by Product (2017-2030)

11.2.3.  Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.2.4.  Market Revenue and Forecast, by End-use (2017-2030)

11.2.5.  UK

11.2.5.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.2.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.2.5.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.2.5.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.2.6.  Germany

11.2.6.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.2.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.2.6.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.2.6.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.2.7.  France

11.2.7.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.2.7.2.      Market Revenue and Forecast, by Product (2017-2030)

11.2.7.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.2.7.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.2.8.  Rest of Europe

11.2.8.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.2.8.2.      Market Revenue and Forecast, by Product (2017-2030)

11.2.8.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.2.8.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.3.        APAC

11.3.1.  Market Revenue and Forecast, by Animal Type (2017-2030)

11.3.2.  Market Revenue and Forecast, by Product (2017-2030)

11.3.3.  Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.3.4.  Market Revenue and Forecast, by End-use (2017-2030)

11.3.5.  India

11.3.5.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.3.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.3.5.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.3.5.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.3.6.  China

11.3.6.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.3.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.3.6.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.3.6.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.3.7.  Japan

11.3.7.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.3.7.2.      Market Revenue and Forecast, by Product (2017-2030)

11.3.7.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.3.7.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.3.8.  Rest of APAC

11.3.8.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.3.8.2.      Market Revenue and Forecast, by Product (2017-2030)

11.3.8.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.3.8.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.4.        MEA

11.4.1.  Market Revenue and Forecast, by Animal Type (2017-2030)

11.4.2.  Market Revenue and Forecast, by Product (2017-2030)

11.4.3.  Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.4.4.  Market Revenue and Forecast, by End-use (2017-2030)

11.4.5.  GCC

11.4.5.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.4.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.4.5.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.4.5.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.4.6.  North Africa

11.4.6.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.4.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.4.6.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.4.6.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.4.7.  South Africa

11.4.7.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.4.7.2.      Market Revenue and Forecast, by Product (2017-2030)

11.4.7.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.4.7.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.4.8.  Rest of MEA

11.4.8.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.4.8.2.      Market Revenue and Forecast, by Product (2017-2030)

11.4.8.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.4.8.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.5.        Latin America

11.5.1.  Market Revenue and Forecast, by Animal Type (2017-2030)

11.5.2.  Market Revenue and Forecast, by Product (2017-2030)

11.5.3.  Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.5.4.  Market Revenue and Forecast, by End-use (2017-2030)

11.5.5.  Brazil

11.5.5.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.5.5.2.      Market Revenue and Forecast, by Product (2017-2030)

11.5.5.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.5.5.4.      Market Revenue and Forecast, by End-use (2017-2030)

11.5.6.  Rest of LATAM

11.5.6.1.      Market Revenue and Forecast, by Animal Type (2017-2030)

11.5.6.2.      Market Revenue and Forecast, by Product (2017-2030)

11.5.6.3.      Market Revenue and Forecast, by Mode of Delivery (2017-2030)

11.5.6.4.      Market Revenue and Forecast, by End-use (2017-2030)

Chapter 12.  Company Profiles

12.1.              Merck Animal Health

12.1.1.  Company Overview

12.1.2.  Animal Type Offerings

12.1.3.  Financial Performance

12.1.4.  Recent Initiatives

12.2.              Ceva Sante Animale

12.2.1.  Company Overview

12.2.2.  Animal Type Offerings

12.2.3.  Financial Performance

12.2.4.  Recent Initiatives

12.3.              Vetoquinol S.A.

12.3.1.  Company Overview

12.3.2.  Animal Type Offerings

12.3.3.  Financial Performance

12.3.4.  Recent Initiatives

12.4.              Zoetis

12.4.1.  Company Overview

12.4.2.  Animal Type Offerings

12.4.3.  Financial Performance

12.4.4.  Recent Initiatives

12.5.              Boehringer Ingelheim GmbH

12.5.1.  Company Overview

12.5.2.  Animal Type Offerings

12.5.3.  Financial Performance

12.5.4.  Recent Initiatives

12.6.              Elanco

12.6.1.  Company Overview

12.6.2.  Animal Type Offerings

12.6.3.  Financial Performance

12.6.4.  Recent Initiatives

12.7.              Nutreco N.V.

12.7.1.  Company Overview

12.7.2.  Animal Type Offerings

12.7.3.  Financial Performance

12.7.4.  Recent Initiatives

12.8.              Virbac

12.8.1.  Company Overview

12.8.2.  Animal Type Offerings

12.8.3.  Financial Performance

12.8.4.  Recent Initiatives

12.9.              Kindred Biosciences, Inc.

12.9.1.  Company Overview

12.9.2.  Animal Type Offerings

12.9.3.  Financial Performance

12.9.4.  Recent Initiatives

12.10.           Biogenesis Bago

12.10.1.               Company Overview

12.10.2.               Animal Type Offerings

12.10.3.               Financial Performance

12.10.4.               Recent Initiatives

Chapter 13.  Research Methodology

13.1.              Primary Research

13.2.              Secondary Research

13.3.              Assumptions

Chapter 14.  Appendix

14.1.              About Us

14.2.              Glossary of Terms

Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

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