Veterinary Medicine Market: Future Demand and Top Key Players Analysis | 2029

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The Business Research Company's Veterinary Medicine Management Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 19, 2025 /EINPresswire.com/ -- What Is The Expected Cagr For The Veterinary Medicine Market Through 2025?
The market for veterinary medicine has been steadily expanding in the recent past. The estimated growth is $31.08 billion in 2024 increasing to $33.21 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. The historical growth period can be credited to factors such as veterinary science advancements, increased awareness of diseases transmitted from animals to humans, heightened focus on animal wellbeing, globalization in pet commerce, further specialization in veterinary medical services, and increased financial expenditure on pet health.

Expected to witness substantial growth in the coming years, the veterinary medicine market is predicted to expand to a size of $44.55 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.6%. The forecasted period's growth is largely driven by factors such as the adoption of personalized medicine in veterinary care, increased globalization of veterinary research, the rise of telehealth in veterinary care, impacts of climate change, and preparedness for zoonotic diseases. During this forecast period, a focus on preventive healthcare, advancements in animal pharmaceuticals, biotechnology and biopharmaceuticals, the penetrations of digital health technologies, globalization of the veterinary medicine sector, the emphasis on sustainable and ethical practices, as well as on regulatory compliance and safety, are the major trends to look out for.

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What Are The Key Factors Driving Growth In The Veterinary Medicine Market?
The escalation in pet ownership numbers is anticipated to fuel the expansion of the veterinary medicine market. These pet owners, who either adopt or own a pet, take responsibility for their pet's health and wellbeing. This boosts the demand for veterinary medication and stimulates the growth of the veterinary medicine market. For instance, Shelter Animals Count, a US-based NGO, reported that dog adoptions shot up by 109,000 in 2023 compared to the previous year, showing an encouraging increase in adoption rates. Nonetheless, the overall dog adoptions for 2023 were still about 108,000 less than the preceding year. Consequently, the burgeoning community of pet owners is steering the development of the veterinary medicine market.

What Are The Top Players Operating In The Veterinary Medicine Market?
Major players in the Veterinary Medicine include:
• Zoetis Inc.
• Merck & Co. Inc.
• Elanco Animal Health Incorporated
• Dechra Pharmaceuticals PLC
• Ceva Sante Animale
• Virbac
• Boehringer Ingelheim International GmbH
• Kindred Biosciences Inc.
• Biogenesis Bago SA
• Indian Immunologicals Limited

What Are The Key Trends And Market Opportunities In The Veterinary Medicine Sector?
Leading businesses in the veterinary medicine market are introducing fresh and innovative products like ethno-veterinary medicines to establish a competitive advantage. These medicines, based on Ayurvedic formulations, are used to combat diseases found in animals. For example, Milma, a dairy corporation from India, unveiled its line of ethno-veterinary medicines in August 2023. These offerings serve as affordable alternatives to traditional allopathic veterinary drugs, reducing the weight of veterinary costs on farmers while offering an economically viable solution for animal health. Regarded as a straightforward, cost-efficient, and farmer-convenient tool, these medicines are utilized both as preventive and curative measures.

Comprehensive Segment-Wise Insights Into The Veterinary Medicine Market
The veterinary medicine market covered in this report is segmented –

1) By Product: Drugs, Vaccines, Medical Feed Additives
2) By Animal Type: Companion Animals, Livestock Animals
3) By Route Of Administration: Oral Route, Parental Route, Topical Route
4) By Distribution Channel: Veterinary Hospital Pharmacies, Retail Veterinary Pharmacies
5) By End-Use: Reference Laboratories, Point-Of-Care Testing Or In-House Testing, Veterinary Hospitals And Clinics, Other End-users

Subsegments:
1) By Drugs: Antimicrobials, Anti-inflammatory Drugs, Pain Management Drugs, Hormonal Drugs, Anesthetics
2) By Vaccines: Inactivated Vaccines, Live Attenuated Vaccines, Recombinant Vaccines, DNA Vaccines, Multivalent Vaccines
3) By Medical Feed Additives: Nutritional Supplements, Antimicrobial Feed Additives, Probiotics And Prebiotics, Enzymes, Growth Promoters

View the full veterinary medicine market report:
https://www.thebusinessresearchcompany.com/report/veterinary-medicine-global-market-report

Global Veterinary Medicine Market - Regional Insights
In 2024, North America held the leading position in the veterinary medicine market. It is anticipated that the fastest expansion during the forecast period will be in the Asia-Pacific region. The report on the veterinary medicine market includes the regions of Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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