Press release
Veterinary Medicine Global Market Report 2025: Soaring To $33.29 Billion At 7.1% CAGR
Veterinary Medicine Market Size
What Is The Projected Market Size Of The Global Veterinary Medicine Global Market Report 2025 And Its Growth Rate?
The global veterinary medicine market has shown substantial growth, propelled by substantial advancements in veterinary science and increased consciousness about animal health. Highlighted statistics include:
• The market size grew from $31.08 billion in 2024 to a projected $33.29 billion in 2025, representing a compound annual growth rate (CAGR) of 7.1%.
• The forecast period through 2029 points to strong growth as well. The market size is projected to reach $44.84 billion in 2029 at a CAGR of 7.7%.
• Major trends shaping the forecast period include a focus on preventive healthcare, advancements in animal pharmaceuticals and biotechnology, digital health technologies, and a global approach to veterinary medicine.
What Is Driving The Growth In The Veterinary Medicine Global Market Report 2025?
The rise in pet ownership is a key driver for the veterinary medicine market. Pet owners who take care of their pet's health boost demand for veterinary drugs. For instance, according to the Shelter Animals Count, a U.S.-based NGO, dog adoptions in 2023 saw an increase of 109,000 compared to 2022, indicating a positive growth in pet adoption rates. These adopted pets require medical facilities, thus further driving the veterinary medicine market.
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Who Are the Key Players Driving Veterinary Medicine Global Market Report 2025 Growth?
The major companies in the veterinary medicine market 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 In The Veterinary Medicine Global Market Report 2025?
Significant market trends include:
• The focus on preventive healthcare
• Advancements in animal pharmaceuticals, biotechnology, and bio-pharmaceuticals
• Adoption of digital health technologies
• Globalization of veterinary medicine
What Are The Segments Of The Global Veterinary Medicine Global Market Report 2025?
The market is segmented as follows:
• By Product: Drugs, Vaccines, Medical Feed Additives
• By Animal Type: Companion Animals, Livestock Animals
• By Route of Administration: Oral Route, Parental Route, Topical Route
• By Distribution Channel: Veterinary Hospital Pharmacies, Retail Veterinary Pharmacies
• By End-Use: Reference Laboratories, Point-of-Care Testing or In-House Testing, Veterinary Hospitals and Clinics, Other End-users
Which Region Leads The Veterinary Medicine Global Market Report 2025?
In 2024, North America was the largest region in the veterinary medicine market. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period. The report also covers Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Veterinary Medicine Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Veterinary Medicine Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Veterinary Medicine Global Market Report 2025 for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall Veterinary Medicine Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Veterinary Medicine Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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