veterinary pharmacovigilance market, veterinary pharmacovigilance market forecast, veterinary pharmacovigilance market growth, veterinary pharmacovigilance market demand, veterinary pharmacovigilance market trends, veterinary pharmacovigilance market analysis
How has the veterinary pharmacovigilance market evolved, and where is it heading next?
The veterinary pharmacovigilance market size has grown rapidly in recent years. It will grow from $0.81 billion in 2024 to $0.92 billion in 2025 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to increasing awareness of animal health, growth in the companion animal population, rising demand for livestock products, expanding veterinary services, and higher prevalence of zoonotic diseases.
The veterinary pharmacovigilance market size is expected to see rapid growth in the next few years. It will grow to $1.5 billion in 2029 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to increasing pet ownership and spending, rising veterinary expenditure, growing focus on animal welfare, expansion of telemedicine in veterinary services, and higher demand for personalized veterinary care. Major trends in the forecast period include adoption of digital reporting systems, expansion of telehealth services for veterinary care, integration of blockchain for data security, and development of cloud-based pharmacovigilance platforms.
Get Your Free Sample of The Global Veterinary Pharmacovigilance Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=21002&type=smp
What are the key drivers behind the rapid expansion of the veterinary pharmacovigilance market?
The growing demand for animal health and medicinal products is expected to propel the growth of the veterinary pharmacovigilance market going forward. Animal health and medicine products are products designed to maintain the health and well-being of pets, including food, medications, and grooming items. The growing demand for animal health and medicinal products is driven by rising pet ownership, advancements in veterinary medicine, and the need for improved livestock productivity. Additionally, increased awareness of animal welfare and a higher incidence of animal diseases contribute to the surge in demand. Veterinary pharmacovigilance in pet care ensures the safety and efficacy of pet medications by monitoring and assessing adverse effects and ensuring regulatory compliance. For instance, in March 2024, according to the Republic of Estonia’s Agency of Medicines (Ravimiamet), an Estonia-based national regulatory authority, in 2023, the veterinary medicinal products sector expanded by 6.9%, reaching 18.6 million euros, up from 17.4 million euros in 2022. Therefore, the growing demand for animal health and medicinal products will drive the growth of the veterinary pharmacovigilance market.
What is the segmentation for the veterinary pharmacovigilance market?
The veterinary pharmacovigilance market covered in this report is segmented –
1) By Type: In House; Outsourced
2) By Solution: Software; Services
3) By Product: Biologics; Anti Infectives; Other Products
4) By Animal Type: Companion Animals; Livestock Animals; Other Animal Types
5) By End User: Veterinary Hospitals; Veterinary Companies; Academic And Research Institutes
Subsegments:
1) By In House: Internal Pharmacovigilance Departments; In-House Monitoring And Reporting Systems; Veterinary Adverse Event Management Software
2) By Outsourced: Third-Party Pharmacovigilance Services; Contract Research Organizations (CROs) For Pharmacovigilance; Pharmacovigilance Consulting And Support Services
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/veterinary-pharmacovigilance-global-market-report
Who are the most influential companies in the veterinary pharmacovigilance market?
Major companies operating in the veterinary pharmacovigilance market are Accenture PLC, Zoetis Inc, Boehringer Ingelheim Animal Health, Elanco Animal Health Incorporated, Covetrus Inc, IDEXX Laboratories, Inc., Ceva Santé Animale, Virbac SA, Merck Animal Health, Huvepharma EOOD, Norbrook Laboratories Ltd, ProPharma Group, ArisGlobal LLC, PQE Group, Chanelle Pharma Group Ltd, Clinvet International, Ennov SAS, Sarjen Systems Pvt. Ltd, PharSafer Associates Ltd, Medfiles Oy, Azierta Contract Science Support Consulting, Knoell Germany GmbH, Triveritas Ltd, Leon Research, Biologit, Indivirtus Group
What major trends will shape the veterinary pharmacovigilance market during the forecast period?
Major companies operating in the veterinary pharmacovigilance market are focusing on focus on strengthening regulatory frameworks with data analytics developments, such as adverse event reporting (REAS) and safety report preparation, to ensure the safety and effectiveness of veterinary drugs. Adverse event reporting (REAS) and safety report preparation involve documenting and analyzing harmful reactions to veterinary drugs to assess safety and ensure compliance with regulatory standards. For instance, in August 2024, the Ministry of Agriculture and Rural Development, a Mexico-based governmental agency, launched a veterinary pharmacovigilance system. The Veterinary Pharmacovigilance System, a monitoring tool developed by SENASICA to ensure the safety, quality, and efficacy of veterinary drugs in Mexico. It collects data on adverse reactions from veterinary product administrators, including pharmaceutical companies, distributors, veterinary hospitals, and veterinarians, to identify, assess, and mitigate risks associated with these medications. The system features the veterinary pharmacovigilance guide (REAS) for documenting adverse reactions and monitoring efficacy, residue limits, and environmental issues.
What are the major regional insights for the veterinary pharmacovigilance market, and which region holds the top position?
North America was the largest region in the veterinary pharmacovigilance market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary pharmacovigilance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Veterinary Pharmacovigilance Market Report 2025 Offer?
The veterinary pharmacovigilance market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Veterinary pharmacovigilance is the science and activities related to detecting, assessing, understanding, and preventing adverse effects or any other drug-related problems in animals. This involves monitoring and evaluating the safety and effectiveness of veterinary medicines after they have been approved for use. The goal is to ensure that the benefits of veterinary medicines outweigh the risks, promoting animal health and welfare while safeguarding human health and the environment.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=21002
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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
