The veterinary medicine market size has demonstrated robust growth in recent years. It is predicted to escalate from $31.08 billion in 2024, to $33.29 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. This can be attributed to advancements in veterinary science, a heightened awareness of zoonotic diseases, focus on animal welfare, globalization of pet trade, specialization in veterinary care and increased spending on pet healthcare.
In the next few years, the veterinary medicine market size is forecasted to see an impressive trajectory of growth, reaching $44.84 billion in 2029 at a CAGR of 7.7%. The forecast period growth can be correlated with the adoption of personalized medicine in veterinary care, the globalization of veterinary research, the adoption of telehealth in veterinary care, climate change impact, and zoonotic disease preparedness. Trends projected for the forecast period include a focus on preventive healthcare, advancements in animal pharmaceuticals, biotechnology and biopharmaceuticals, digital health technologies, globalization of veterinary medicine, and implementation of sustainable and ethical practices, regulatory compliance, and safety.
Get Your Free Sample of The Global Veterinary Medicine Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8027&type=smp
What Are The Key Drivers of The Veterinary Medicine Market Growth?
An upsurge in the pet owner population is expected to propel growth in the field of veterinary medicine. For instance, according to the Shelter Animals Count, a US-based non-governmental organization, dog adoptions in 2023 increased by 109,000 compared to 2022, signifying positive growth. As owners focus strongly on pet healthcare, this creates a rising demand for veterinary drugs, thereby driving the veterinary medicine market.
What Are The Main Segments Driving The Veterinary Medicine Market?
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
Order your report now for swift delivery @
https://www.thebusinessresearchcompany.com/report/veterinary-medicine-global-market-report
Who Are The Major Players In The Veterinary Medicine Market?
Major companies advancing the field of veterinary medicine are 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, Neogen Corporation, Hester Biosciences Limited, Phibro Animal Health, Vetoquinol S.A., IDEXX Laboratories Inc., Heska Corporation, Henry Schein Animal Health, Patterson Companies Inc., Covetrus Inc., VetPartners, National Veterinary Associates, and others.
What Trends Are Shaping The Veterinary Medicine Market?
A key trend emerging in the veterinary medicine market involves the innovation of new products, such as ethno-veterinary medicines. These are holistic animal health solutions made from Ayurvedic formulations, and companies are leveraging such offerings to gain a competitive edge in the market. For instance, in August 2023, India-based dairy company Milma launched ethno-veterinary medicines as low-cost alternatives to conventional veterinary drugs. These medicines offer a cost-effective solution for animal healthcare and reduce the financial burden of veterinary expenses on farmers.
Which Region Will Experience The Fastest Growth In The Veterinary Medicine Market?
North America was the largest region in the veterinary medicine market in 2024. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period. The regions covered in the veterinary medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Veterinary Medicine Market Report 2025 Offer?
Veterinary medicine refers to the medical field that is dedicated to the prevention, diagnosis, and treatment of diseases in animals in order to maintain their health and welfare. Veterinary medicine also focuses on controlling zoonotic diseases. The Veterinary Medicine Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8027
About The Business Research Company
The Business Research Company is reputed for offering comprehensive, data-rich research and insights across 27 industries spanning 60+ geographies. We specialize in providing informative, in-depth secondary research, and insights drawn from 1,500,000 datasets, industry leaders, and our Global Market Model, a premier market intelligence platform offering comprehensive and updated forecasts to support informed decision-making.
Read Related Topics:
https://goodprnews.com/vertical-lift-module-market-trends/
https://goodprnews.com/viral-inactivation-market-trends/
https://goodprnews.com/whole-exome-sequencing-market-trends/
https://goodprnews.com/steel-wire-rope-and-plastic-rope-market-trends/
https://goodprnews.com/telecom-operations-management-market-trends/
https://goodprnews.com/unmanned-surface-vehicle-usv-market-share/
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model