Veterinary Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Veterinary Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • June 2022 •
  • 145 pages •
  • Report ID: 6287755 •
  • Format: PDF
The global veterinary medicine market reached a value of US$ 31.06 Billion in 2021. Looking forward, the analyst expects the market to reach a value of US$ 48.58 Billion by 2027, exhibiting a CAGR of 7.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Veterinary medicine is a branch of science that deals in the prevention, control, diagnosis, and treatment of diseases that affect the health of domestic and wild animals. It helps maintain the health of food-producing animals, inhibit the transmission of zoonotic diseases from animal species to humans, and ensure a safe supply of food worldwide. At present, the escalating consumption of animal-derived products is increasing the adoption of veterinary medicines to monitor the health of agricultural animals and prevent human exposure to diseases.

Veterinary Medicine Market Trends:
The growing trend of nuclear families and inflating income levels have increased the overall spending of individuals on pets globally. This, in confluence with the rising concerns among pet parents about the well-being of their pets, represents one of the major factors supporting the demand for veterinary medicines. The increasing penetration of pet insurance is further influencing the market growth. Apart from this, the expanding animal husbandry activities, along with the escalating cases of zoonotic and chronic diseases among animals, are increasing the concerns about food safety. This, along with the increasing number of commercial animal-production programs, is promoting the adoption of veterinary medicines for better diagnosis and treatment for livestock. Moreover, the easy availability of advanced diagnostic imaging, novel therapies, nuclear and regenerative medicines, laser diagnostics, and specialized surgeries in numerous vet hospitals and clinics is bolstering the market growth. Furthermore, biomedical researchers are developing safe and effective vaccines to prevent pet diseases, which is anticipated to strengthen the market growth.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global veterinary medicine market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, animal type, route of administration and distribution channel.

Breakup by Product:
Inactivated Vaccines
Attenuated Vaccines
Recombinant Vaccines
Medicated Feed Additives
Amino Acids

Breakup by Animal Type:

Breakup by Route of Administration:

Breakup by Distribution Channel:
Veterinary Hospitals and Clinics
Point-of-Care Testing/In-house Testing

Breakup by Region:
North America
United States
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Archer-Daniels-Midland Company, Boehringer Ingelheim GmbH, Cargill Incorporated, Ceva Santé Animale, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Evonik Industries AG, Merck & Co. Inc., Neogen Corporation, Vetoquinol S.A., Virbac and Zoetis Inc.

Key Questions Answered in This Report:

How has the global veterinary medicine market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global veterinary medicine market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the animal type?
What is the breakup of the market based on the route of administration?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global veterinary medicine market and who are the key players?
What is the degree of competition in the industry?