Press release
Key Trends Shaping the Future Veterinary Pharmaceuticals Market From 2025-2034: Emergence Of Generic Drugs As A Key Trend In The Veterinary Pharmaceuticals Market
Veterinary Pharmaceuticals Market Size
The augmented occurrence rate of illnesses in animals constitutes a significant propeller for the veterinary pharmaceuticals market. The surge in disease outbreaks among livestock and pet animals necessitates the deployment of medications to combat these ailments. For example, the Banfield State of Pet Health Report reveals a substantial rise of 79.7% in canine diabetes - from 13.1 to 23.6 cases per 10,000. Simultaneously, the frequency rate of diseases in cats has swelled by 18%. This heightened prevalence of diseases in the animal population triggers a boosted demand in the market for veterinary pharmaceuticals.
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What is the future CAGR of the veterinary pharmaceuticals market, and how will it impact industry expansion?
In the past few years, the veterinary pharmaceuticals market has exhibited significant growth. It is projected to expand from $35.36 billion in 2024 to $37.87 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. Factors contributing to this noteworthy growth in the historical period include an escalation in the pet population, a rise in individual spending on pets, a surge in the presence of e-commerce platforms supporting online pharmacies, an upswing in emerging markets, increasing government initiatives, and a higher prevalence of disease.
Expectations are high for the veterinary pharmaceuticals market to see substantial growth in the coming years. The market is forecasted to reach a value of $50.59 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this growth over the forecast period include increased pet ownership, population growth, higher disposable income levels, urbanization, more extensive coverage of pet insurance and enhanced government support. Notable trends during this period are likely to include a shift towards stem cell therapy for animal treatment, the use of nanotechnology in veterinary medicine to combat antibiotic resistance, the introduction of chewable tablets, the use of telemedicine platforms to mitigate the effects of COVID-19, the development of advanced vaccines and super-combo parasiticides, the application of subunit and virus-like particle (VLP)-based vaccines and a focus on strategic partnerships and collaborations.
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What new trends are reshaping the veterinary pharmaceuticals market and its opportunities?
The rising trend in the veterinary pharmaceuticals market is the adoption of generic drugs for animal care. These cost-effective alternatives allow pet enthusiasts to attend to their pets more effectively. The FDA has given the green light to 22 generic drugs for cats and dogs, thereby leading to a surge in their use by vets. A study conducted by Brakke and Trone Brand Energy Inc. on 520 vets revealed that approximately 80% are utilizing generic drugs to reduce the financial burden on pet owners. Nonetheless, the modest profit margins from these generic manufacturers, as opposed to the substantial profits from branded drugs, call for further investigation by veterinarians.
Which key market segments comprise the veterinary pharmaceuticals market and drive its revenue growth?
The veterinary pharmaceuticals market covered in this report is segmented -
1) By Type: Veterinary Vaccines, Veterinary Antibiotics, Veterinary Parasiticides, Other Veterinary Pharmaceuticals
2) By Type Of Animal: Livestock, Companion Animals
3) By Type Of Vaccine: Inactivated Vaccines, Attenuated Vaccines, Recombinant Vaccines, Other Vaccines
4) By Route Of Administration: Oral, Parenteral, Topical, Other Routes Of Administration
5) By End User: Veterinary Hospitals, Veterinary Clinics, Pharmacies And Drug Stores
Subsegments:
1) By Veterinary Vaccines: Inactivated Vaccines, Live Attenuated Vaccines, Recombinant Vaccines, DNA Vaccines, Subunit Vaccines
2) By Veterinary Antibiotics: Penicillins, Cephalosporins, Tetracyclines, Fluoroquinolones, Macrolides
3) By Veterinary Parasiticides: Endoparasiticides, Ectoparasiticides, Endectocides, Antiprotozoals
4) By Other Veterinary Pharmaceuticals: Anti-inflammatory Drugs, Analgesics, Hormonal Medications, Antifungals
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What regions are at the forefront of veterinary pharmaceuticals market expansion?
North America was the largest region in the veterinary pharmaceuticals market in 2024. Asia-Pacific was the second-largest region in the global veterinary pharmaceuticals market report. The regions covered in the veterinary pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the veterinary pharmaceuticals market?
Major companies operating in the veterinary pharmaceuticals market include Zoetis Inc, Merck & Co., Inc, Boehringer Ingelheim International Gmb, Elanco Animal Health Incorporated, Ceva Sante Animale, Virbac SA, Dechra Pharmaceuticals PLC, Vetoquinol S.A., Phibro Animal Health Corporation, Kyoritsu Seiyaku Corporation, Hebei Chengshengtang Animal Pharmaceutical, Shijiazhuang Fengqiang Animal Pharmaceutical Co,.Ltd, Vvaan Lifesciences Private Limited, Century Pharmaceuticals Limited, Cargill India Pvt. Ltd., Jurox Pty Ltd, Bayer, Veteq, Nimrod Veterinary Products Ltd., Bimeda, Orion Animal Health, Petmedix, Eco Animal Health, Teknofarma, Farmavet, Candioli Pharma, Suanfarma, Marino Ibericamed, MPA veterinary, Swetrade Pharmaceuticals AB, Animalcare, VET-AGRO Sp. z o. o, CANPOLAND SA, Cymedica, VIC Group, NITA-FARM, Apicenna LLC, Delos Medica, Provet Group, Bioveta AS, Veterinarski Zavod Subotica, PharmaGal s.r.o., Trifecta Pharmaceuticals USA LLC., Alberta Veterinary Laboratories Ltd., Veterinary Purchasing Co. Ltd , UCBVET, Syntec, Sauvet, Vetanco, Chemo Argentina, Brouwer, Agrovet Market Animal Health, Lemavet, Primo Veterinary Medicines Trading LLC., AL Kubara Veterinary Medicines Trading LLC., Eurovets Veterinary Suppliers, Saudi Pharmaceutical Industries, DBK Pharma S.A.E., Dawa Limited, Neimeth International Pharmaceuticals, Osy-Adamu Pharmaceutical Co., Global Vet (U) Ltd
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What Is Covered In The Veterinary Pharmaceuticals Global Market Report?
• Market Size Forecast: Examine the veterinary pharmaceuticals market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the veterinary pharmaceuticals market for a structured understanding.
• Key Players Overview: Analyze major players in the veterinary pharmaceuticals market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the veterinary pharmaceuticals market.
• Segment Contributions: Evaluate how different segments drive overall growth in the veterinary pharmaceuticals market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the veterinary pharmaceuticals market.
• Industry Challenges: Identify potential risks and obstacles affecting the veterinary pharmaceuticals market.
• Competitive Landscape: Review strategic developments in the veterinary pharmaceuticals market, including expansions, agreements, and new product launches.
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