The companion animal drugs market, valued at approximately USD 16.1 billion in 2024, is projected to surpass USD 17.13 billion in 2025 and reach USD 31.26 billion by 2035.

Metrics	Values
Market Size in 2025	USD 17.13 billion
Market Size in 2035	USD 31.26 billion
CAGR (2025 to 2035)	6.2%

Semi Annual Market Update

Particular	Value CAGR
H1	6.9% (2024 to 2034)
H2	6.6% (2024 to 2034)
H1	6.2% (2025 to 2035)
H2	5.7% (2025 to 2035)

Country-wise Insights

Countries	Value CAGR (2025 to 2035)
United States	6.9%
Germany	6.5%
France	7.9%
China	8.4%
India	8.1%

The Report Covers Veterinary Drugs Market is Segmented by Product Type (Anti-Infectives, Anti-Inflammatory, Parasiticides, Vaccines, and Others), Route of Administration (Oral, Parenteral, and Topical), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The Market Provides the Value (in USD Million) for the Above-Mentioned Segments.

The Farm Animal Drug Market is estimated to be valued at USD 20.5 billion in 2025 and is projected to reach USD 35.0 billion by 2035, registering a compound annual growth rate (CAGR) of 5.4% over the forecast period.

Metric	Value
Farm Animal Drug Market Estimated Value in (2025 E)	USD 20.5 billion
Farm Animal Drug Market Forecast Value in (2035 F)	USD 35.0 billion
Forecast CAGR (2025 to 2035)	5.4%

The global market size for animal medicine amounted to around ** billion U.S. dollars in 2022. It was forecasted that the market would expand to some ** billion dollars by 2032, equivalent to a compound annual growth rate (CADR) of *** percent. The animal medicine industry is comprised of segments such as veterinary vaccines, veterinary antibiotics, and veterinary parasiticides.

Companion Animal Drugs Market is growing at a CAGR of 5.30% over the next 7 years. Zoetis Inc., Merck & Co., Virbac Animal Health, Boehringer Ingelheim GmbH and many more major companies operating in this Market.

The global sales of Over-The-Counter (OTC) Veterinary Drugs is estimated to be worth USD 10.3 billion in 2025 and anticipated to reach a value of USD 22.4 billion by 2035. Sales are projected to rise at a CAGR of 8.1% over the forecast period between 2025 and 2035.

Attributes	Key Insights
Industry Size (2025E)	USD 10.3 billion
Industry Value (2035F)	USD 22.4 billion
CAGR (2025 to 2035)	8.1%

Semi Annual Market Update

Particular	Value CAGR
H1	8.3% (2024 to 2034)
H2	8.6% (2024 to 2034)
H1	8.1% (2025 to 2035)
H2	8.8% (2025 to 2035)

Country-wise Insights

Countries	CAGR Value (2025 to 2035)
United States	3.2%
United Kingdom	3.4%
Germany	3.6%
Japan	4.2%
China	6.5%
India	7.8%

Category-wise Insights

By Drug Class	Value Share (2025)
Antiparasitics	10.9%

By Product form	Value Share (2025)
Oral	77.3%

The Companion Animal Pharmaceuticals Market Report is Segmented by Indication (Infectious Diseases, and More), Product Type (Vaccines, and More), Animal Type (Dogs, Cats, and Other Animal Types), Distribution Channel (Veterinary Hospitals & Clinics, and More), Geography (North America, Europe, Asia-Pacific, The Middle East and Africa, and South America). The Market Forecasts are Provided in Terms of Value (USD).

Global Companion Animal Drugs Market size is expected to be worth around US$ 31.04 Billion by 2034 from US$ 16.85 Billion in 2024

North America Companion Animal Drugs Market size is growing with CAGR of 4.3% in the prediction period & crosses USD 17.67 Bn by 2032 from USD 13.16 Bn in 2025

The Veterinary Medicine Market report segments the industry into By Product Type (Drugs, Vaccines, Medicated Feed Additives), By Animal Type (Companion Animals, Livestock Animals), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). Five years of historical data and market forecasts are included.

Overview

New York, NY – Nov 18, 2025 – Global Companion Animal Drugs Market size is expected to be worth around US$ 31.04 Billion by 2034 from US$ 16.85 Billion in 2024, growing at a CAGR of 6.3% during the forecast period from 2025 to 2034. In 2023, North America led the market, achieving over 39.50% share with a revenue of US$ 6.66 Billion.

The global companion animal drugs market has been witnessing steady expansion as pet ownership levels continue to rise and veterinary healthcare standards improve worldwide. Growth in the market has been attributed to higher expenditure on pet wellness, increased awareness of preventive care, and the rapid adoption of advanced therapeutics across veterinary clinics and hospitals. The demand for pharmaceuticals addressing conditions such as parasitic infections, dermatological disorders, obesity, and chronic diseases has been increasing at a consistent pace.

Strong uptake of vaccines, anti-infectives, and analgesics has been observed, supported by the growing prevalence of zoonotic diseases and the need for timely disease prevention. Biologics and targeted therapies have also gained traction as investment in veterinary research intensifies. The market has been further supported by technological progress in drug formulation, improved regulatory frameworks, and expanded product availability through retail and e-commerce channels.

North America has continued to represent a leading regional market due to robust veterinary infrastructure and high pet healthcare spending. Significant growth potential has been noted in Asia-Pacific, where rising disposable incomes, urbanization, and expanding veterinary networks have been contributing to increased adoption of companion animal drugs.

The outlook for the sector remains positive as pharmaceutical innovation, rising pet humanization trends, and strategic collaborations between industry stakeholders continue to shape the competitive landscape. The market is expected to advance steadily as emphasis on pet health and welfare strengthens across major economies.

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Discover the booming animal drugs market! This comprehensive analysis reveals a $50 billion market in 2025, projected to reach $80 billion by 2033, driven by rising pet ownership and innovation. Explore key trends, regional breakdowns, and leading companies like Zoetis and Boehringer Ingelheim.

In US Companion Animal Drugs Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision-making and business growth.

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The Companion Animal Pharmaceuticals Market will grow from USD 18.52 Billion in 2024 to USD 31.49 Billion by 2030 at a 9.25% CAGR.

Pages	185
Market Size	2024 USD 18.52 Billion
Forecast Market Size	USD 31.49 Billion
CAGR	9.25%
Fastest Growing Segment	Dermatologic Diseases
Largest Market	North America
Key Players	['Zoetis Services LLC ', 'Merck & Co., Inc.', 'Boehringer Ingelheim International GmbH', 'Elanco Animal Health Incorporated', 'Virbac Taiwan Co., Ltd. ', 'Vetoquinol S.A.', 'Dechra Pharmaceuticals Limited ', 'Chanelle Pharma ', 'KyoritsuSeiyaku Corporation']

The booming companion animal veterinary drug market is projected to reach $45 billion by 2033, driven by increased pet ownership, humanization of pets, and advancements in veterinary care. Learn about market size, growth drivers, leading companies (Zoetis, Boehringer Ingelheim, Merck), and future trends in this comprehensive analysis.

Veterinary Medicine Market size is expected to be worth around USD 97.0 Billion by 2033 from USD 47.5 Billion in 2023

The global animal drugs market, valued at $33.78 billion in 2025, is projected to experience robust growth. While the exact CAGR is unavailable, considering typical growth rates in the pharmaceutical sector and the expanding animal health market, a conservative estimate would place the CAGR between 5% and 7% during the forecast period (2025-2033). This growth is driven by several factors, including the rising pet ownership globally, increased awareness of animal health and welfare, and the growing demand for advanced veterinary care, particularly in developing economies. Furthermore, the development and adoption of innovative drugs, such as those targeting specific diseases and improving treatment efficacy, fuels this market expansion. The market is segmented by drug type (antibiotics, antiparasitics, vaccines, etc.), animal species (companion animals, livestock, poultry), and geographical regions. Key players such as Zoetis, Boehringer Ingelheim, and Merck Animal Health are driving innovation and market consolidation through strategic acquisitions and product launches. However, the market also faces challenges. Regulatory hurdles, stringent approval processes for new drugs, and pricing pressures from generic competition can restrain growth. Furthermore, variations in animal health policies across different regions and the emergence of antibiotic resistance present ongoing challenges for sustained market expansion. Despite these restraints, the long-term outlook remains positive, driven by continuous technological advancements, increasing veterinary expenditure, and a growing global middle class capable of affording better animal healthcare. The market's evolution is characterized by a shift towards preventive healthcare, personalized medicine for animals, and an increasing focus on sustainable and environmentally friendly products.

Learn more about the Farm Animal Drugs Market Report by Market Research Intellect, which stood at USD 30.2 billion in 2024 and is forecast to expand to USD 42.5 billion by 2033, growing at a CAGR of 4.5%.Discover how new strategies, rising investments, and top players are shaping the future.

In Brazil Companion Animal Drugs Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision-making and business growth.