Leading Growth Driver in the Veterinary Pharmacovigilance Market in 2025: Rising Pet Medicine Demand Fuels Veterinary Pharmacovigilance Market Growth Driver's Influence

How Are the key drivers contributing to the expansion of the veterinary pharmacovigilance market?
The surge in need for animal health and medicinal items is predicted to accelerate the expansion of the veterinary pharmacovigilance market. These products, which include food, medications, and grooming supplies, aim to ensure the healthiness and well-being of pets. Factors such as heightened pet ownership, progress in veterinary medicine, and the demand for enhanced livestock productivity are driving the escalated need for animal health and medicinal products. Furthermore, the rise in animal welfare awareness and a higher prevalence of animal diseases contributes to the demand surge. Veterinary pharmacovigilance plays a key role in pet care by ensuring the safety and effectiveness of pet medications, monitoring adverse effects, and ensuring regulatory observance. For example, as per the Republic of Estonia's Agency of Medicines (Ravimiamet), a national regulatory authority based in Estonia, there was a 6.9% growth in the veterinary medicinal products sector in 2023, reaching 18.6 million euros, a significant increase from 17.4 million euros in 2022. Hence, the accelerated need for animal health and medicinal items will boost the progress of the veterinary pharmacovigilance market.

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What growth opportunities are expected to drive the veterinary pharmacovigilance market's CAGR through 2034?
Recent years have witnessed quick expansion in the veterinary pharmacovigilance market. The market, which was valued at $0.81 billion in 2024, is anticipated to increase to $0.92 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 13.3%. Factors contributing to this growth during the historical period include a heightened emphasis on animal health, a surge in companion animal numbers, escalating demands for livestock goods, the expansion of veterinary services, and a higher incidence of zoonotic diseases.

The market size of veterinary pharmacovigilance is projected to experience swift expansion in the upcoming years, reaching $1.5 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 13.1%. The surge within this forecast period could be due to several factors such as the growing number of pet owners and related expenditures, escalating veterinary costs, increased emphasis on animal welfare, the incorporation of telemedicine within veterinary practices, and a rising demand for personalised veterinary provisions. Key trends throughout this forecast period will likely involve the utilization of digital reporting systems, the growth of telehealth services within veterinary care, the integration of blockchain for enhanced data protection, and the establishment of cloud-based pharmacovigilance platforms.

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What are the emerging trends shaping the future of the veterinary pharmacovigilance market?
Key businesses within the veterinary pharmacovigilance marketplace are centering their efforts on bolstering regulatory structures with developments in data analytics, which includes areas such as adverse event reporting (REAS) and the formulation of safety reports, to guarantee the harmlessness and efficacy of veterinary medicines. Both REAS and safety report creation involve recording and scrutinizing damaging responses to veterinary drugs in order to gauge safety measures and ensure regulatory criteria are met. For example, in August 2024, the Ministry of Agriculture and Rural Development, a Mexican government entity, established a veterinary pharmacovigilance system. This system, created by SENASICA, serves as a surveillance instrument aiming to maintain the safety, quality, and effectiveness of veterinarian medications in Mexico. The system amasses information on unfavorable reactions from parties administering veterinary products, such as pharmaceutical businesses, distributors, veterinary healthcare facilities, and veterinarians. This is essential in identifying, evaluating, and reducing the risks related to these drugs. Inclusion of the veterinary pharmacovigilance guide (REAS) aids in documenting negative reactions, tracking efficacy, and overseeing limits on residues and environmental concerns.

Which growth-oriented segments of the veterinary pharmacovigilance market are leading the industry's development?
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

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What regions are leading the charge in the veterinary pharmacovigilance market?
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 companies are at the forefront of innovation 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

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What Is Covered In The Veterinary Pharmacovigilance Global Market Report?

•Market Size Forecast: Examine the veterinary pharmacovigilance market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the veterinary pharmacovigilance market for a structured understanding.
•Key Players Overview: Analyze major players in the veterinary pharmacovigilance market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the veterinary pharmacovigilance market.
•Segment Contributions: Evaluate how different segments drive overall growth in the veterinary pharmacovigilance market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the veterinary pharmacovigilance market.
•Industry Challenges: Identify potential risks and obstacles affecting the veterinary pharmacovigilance market.
•Competitive Landscape: Review strategic developments in the veterinary pharmacovigilance market, including expansions, agreements, and new product launches.

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