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.

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 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.

The global veterinary medicine market size is projected to grow from USD 35.64 billion in 2025 to USD 53.47 billion by 2033, exhibiting a CAGR of 5.2%.
Report Scope:

Report Metric	Details
Market Size in 2024	USD 33.88 Billion
Market Size in 2025	USD 35.64 Billion
Market Size in 2033	USD 53.47 Billion
CAGR	5.20% (2025-2033)
Base Year for Estimation	2024
Historical Data	2021-2023
Forecast Period	2025-2033
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered	By Animal Type,By Product,By Route of Administration,By Distribution Channel,By Region.
Geographies Covered	North America, Europe, APAC, Middle East and Africa, LATAM,
Countries Covered	U.S., Canada, U.K., Germany, France, Spain, Italy, Russia, Nordic, Benelux, China, Korea, Japan, India, Australia, Singapore, Taiwan, South East Asia, UAE, Turkey, Saudi Arabia, South Africa, Egypt, Nigeria, Brazil, Mexico, Argentina, Chile, Colombia,

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.

Overview

New York, NY – Oct 15, 2025 – The Global Veterinary Medicine Market size is expected to be worth around USD 97.0 Billion by 2033 from USD 51.0 Billion in 2024, growing at a CAGR of 7.4% during the forecast period from 2025 to 2033.

The field of veterinary medicine plays a critical role in safeguarding animal health, public safety, and food security worldwide. Veterinary professionals are responsible for diagnosing, treating, and preventing diseases in animals, ensuring the well-being of both domestic and livestock populations. Their work directly supports sustainable agriculture, public health, and the prevention of zoonotic diseases—those transmissible between animals and humans.

Modern veterinary medicine integrates advanced diagnostic tools, biotechnology, and preventive care to enhance animal health outcomes. Veterinary research contributes significantly to the development of vaccines, nutritional programs, and innovative treatment methods that improve the quality of life for animals and strengthen the livestock industry.

The growing awareness of animal welfare and the expanding pet care sector have accelerated demand for veterinary services globally. According to industry estimates, the veterinary medicine market continues to grow due to rising pet ownership, government initiatives for disease control, and technological advancements in animal healthcare.

Educational institutions and research organizations are increasingly focusing on veterinary science as an essential discipline that connects animal care, environmental health, and human well-being. The advancement of veterinary medicine remains vital to promoting a balanced ecosystem and ensuring a healthier future for all species.

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In US Veterinary Medicine Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

The Veterinary Medicine Market size was valued at USD 49.98 billion in 2023 and is projected to reach USD 87.34 billion by 2032, exhibiting a CAGR of 8.3 % during the forecasts period. Recent developments include: In November 2023, Virbac acquired a majority stake in a leading Indian poultry vaccines company- Globion. This strengthened the company’s position as a leading animal health player in the Indian poultry vaccines market by extending Virbac India’s poultry portfolio. , In October 2023, Merck Animal Health made available its caninized monoclonal antibody- gilvetmab, to board-certified veterinary oncologists in the U.S. The product has received conditional licensing from the USDA’s Center for Veterinary Biologics (CVB) to treat canine melanoma & mast cell cancers. , In May 2023, Merck Animal Health received approval for BRAVECTO QUANTUM (fluralaner) in Australia. This makes it the only injectable parasiticide that provides dogs up to a full year of protection against fleas & ticks. .

The U.S. Veterinary Medicine Market size was valued at USD 1.47 billion in 2023 and is projected to reach USD 2.33 billion by 2032, exhibiting a CAGR of 6.8 % during the forecasts period. Recent developments include: In February 2024, Merck & Co., Inc. announced the signing of a definitive agreement to acquire the aqua business of Elanco, which includes an innovative portfolio of medications and vaccines, food, and supplements for aquatic animals , In January 2024, Bimeda Corporate launched BOVitalize, an oral vitamin and mineral supplement for bulls, ruminating calves, and dairy and beef cows, in the U.S , In October 2023, Merck & Co., Inc. announced the availability of novel canine oncology therapy, caninized monoclonal antibody gilvetmab, to veterinary specialists practicing oncology across the U.S , In October 2023, Kemin Industries, Inc. and ilender collaborated to introduce the MEFLUVACTM H5 PLUS 8 vaccine to empower the Peruvian poultry sector to combat avian influenza , In September 2023, Elanco announced the first shipments of Varenzin -CA1 (molidustat oral suspension), The U.S. FDA approved it under certain conditions approved by the FDA as the first and sole treatment for non-regenerative anemia in cats suffering from chronic kidney disease (CKD), to veterinary clinics across the U.S , In August 2023, Boehringer Ingelheim International GmbH declared that the FDA has approved SENVELGO (velagliflozin oral solution), a ground-breaking novel treatment for diabetic cats, the business stated. SENVELGO is a once-daily liquid oral solution that cat owners can give their pets straight into their mouths or mix with a small amount of food , In July 2023, Bimeda Corporate declared the availability of SpectoGard (spectinomycin sulfate) sterile solution to the cattle producers and veterinarians in the U.S , In June 2023, Zoetis Services LLC announced that Apoquel Chewable (oclacitinib chewable tablet) had been authorized by the U.S. FDA for the treatment of atopic dermatitis and pruritus linked to allergic dermatitis in dogs who are at least 12 months of age .

The global veterinary pharmaceutical drugs market size is projected to grow from USD 58.05 billion in 2025 to USD 104.96 billion by 2033, exhibiting a CAGR of 7.5%.
Report Scope:

Report Metric	Details
Market Size in 2024	USD 53.25 Billion
Market Size in 2025	USD 58.05 Billion
Market Size in 2033	USD 104.96 Billion
CAGR	7.5% (2025-2033)
Base Year for Estimation	2024
Historical Data	2021-2023
Forecast Period	2025-2033
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered	By Animal Type,By Product Type,By Region.
Geographies Covered	North America, Europe, APAC, Middle East and Africa, LATAM,
Countries Covered	U.S., Canada, U.K., Germany, France, Spain, Italy, Russia, Nordic, Benelux, China, Korea, Japan, India, Australia, Singapore, Taiwan, South East Asia, UAE, Turkey, Saudi Arabia, South Africa, Egypt, Nigeria, Brazil, Mexico, Argentina, Chile, Colombia,

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%

In Europe Veterinary Medicine Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

The global veterinary medicines market attained a value of about USD 24.83 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 4.60% to reach nearly USD 38.93 Billion by 2034.

The global veterinary medicine market is booming, projected to reach $65 billion by 2033 at a CAGR of 6%. Discover key trends, market segmentation (companion animals, livestock, oral/injection), leading companies, and regional insights in this comprehensive market analysis.

In Mexico Veterinary Medicine Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

The global veterinary medicine market, valued at $47.97 billion in 2025, is poised for robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 7.58% from 2025 to 2033. This expansion is fueled by several key factors. Rising pet ownership globally, coupled with increasing humanization of pets and a willingness to invest in their healthcare, significantly drives demand for companion animal pharmaceuticals and veterinary services. Simultaneously, the livestock sector benefits from advancements in animal health management, focusing on disease prevention and productivity enhancement. This translates into increased adoption of vaccines, medicated feed additives, and other veterinary products aimed at improving animal health and overall agricultural output. Technological advancements in drug delivery, diagnostics, and personalized medicine further contribute to market growth. The market is segmented by product type (drugs, vaccines, medicated feed additives) and animal type (companion animals, livestock animals), with each segment exhibiting unique growth trajectories based on specific market drivers and regional variations. For example, the demand for companion animal products is likely to outpace livestock products in developed nations, while emerging economies may show stronger growth in the livestock sector driven by increasing meat consumption and agricultural intensification. Regulatory changes and pricing pressures may act as potential restraints, although the overall market outlook remains positive, anticipating significant expansion over the forecast period. The market's geographical distribution is diverse, with North America and Europe currently holding substantial market shares due to high pet ownership rates and advanced veterinary infrastructure. However, the Asia-Pacific region is anticipated to witness substantial growth owing to its burgeoning middle class, rising pet ownership in urban areas, and expanding livestock production. This regional shift will likely impact the market share distribution in the coming years. Major players in the veterinary medicine market are actively engaged in research and development to introduce innovative products, expand their market reach through strategic acquisitions and partnerships, and enhance their product portfolios to meet evolving market needs. The competitive landscape remains dynamic, with both large multinational corporations and smaller specialized companies competing for market share. Continuous innovation and strategic market positioning are vital for companies to maintain competitiveness and capitalize on the market's significant growth potential. Recent developments include: September 2024: Elanco Animal Health Incorporated received approval from the U.S. Food and Drug Administration (FDA) for Zenrelia, a once-daily oral JAK inhibitor for control of pruritus (itching) associated with allergic dermatitis and control of atopic dermatitis in dogs at least 12 months of age.September 2024: Merck Animal Health received marketing authorization in the European Union from the European Medicines Agency for PORCILIS PCV M Hyo ID, a ready-to-use intradermal vaccine that offers protection against two of the most common swine pathogens: Porcine Circovirus Type 2 (PCV2) and Mycoplasma hyopneumoniae (M. hyo).. Key drivers for this market are: Growing Burden of Chronic Disease Conditions in Animals, Coupled with the Increasing Adoption of Animals, Increase in Drug Preferences by Pet and Poultry Farm Owners; Increased Demand for Meat and Animal-based Products in Agriculture and Human Healthcare. Potential restraints include: Growing Burden of Chronic Disease Conditions in Animals, Coupled with the Increasing Adoption of Animals, Increase in Drug Preferences by Pet and Poultry Farm Owners; Increased Demand for Meat and Animal-based Products in Agriculture and Human Healthcare. Notable trends are: Drugs: Dominating the Veterinary Medicine Landscape Segment Overview:.

The size of the Veterinary Medicine Market was valued at USD 2.01 billion in 2023 and is projected to reach USD 2.94 billion by 2032, with an expected CAGR of 5.6% during the forecast period. Notable trends are: Growing rates of pet ownership, rising chronic diseases, and increasing meat consumption will boost the market growth..

In GCC Veterinary Medicine Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

The Veterinary Services Market Report is Segmented by Service (Surgery, Diagnostic Imaging & Laboratory, and More), Animal Type (Companion Animals and Production/Farm Animals), Provider Ownership Structure (Independent Practices, and More), Delivery Mode (Mobile / On-Farm, and More), Geography (North America, Europe, Asia-Pacific, and More). The Market Forecasts are Provided in Terms of Value (USD).

The global companion animal medicine market is booming, projected to reach $47 billion by 2033 with a 6% CAGR. Discover key trends, market segments (vaccines, antibiotics, etc.), leading companies (Zoetis, Merck, Boehringer Ingelheim), and regional growth insights in this comprehensive analysis.