by 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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Table of Contents
Veterinary Medicine Market 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.
Veterinary Medicine Market 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 |
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.
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Major Key Players Covered in The Veterinary Medicine Market Report include
- 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
Veterinary Medicine Market Segmentation
- Animal Type
- Production
- Poultry
- Swine
- Cattle
- Sheep & Goats
- Fish
- Companion
- Dogs
- Cats
- Horses
- Others
- Production
- Product
- Biologics
- Vaccine
- Live attenuated vaccines
- DNA Vaccines
- Recombinant Vaccines
- Inactivated Vaccines
- Others
- Others
- Vaccine
- Pharmaceuticals
- Parasiticides
- Anti-infectives
- Anti-inflammatory
- Analgesics
- Others
- Medicated Feed Additives
- Biologics
- 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
- North America
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. Veterinary Medicine 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. Veterinary Medicine 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
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