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Global Veterinary Drugs Market Size, Growth, Report: By Product: Biologics, Pharmaceuticals, Medicinal Feed Additives; By Animal: Companion, Livestock; By Route of Administration: Oral, Parenteral, Topical; By Distribution Channel: Veterinary Hospitals and Clinics, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Veterinary Drugs Market Outlook
The global veterinary drugs market reached a value of about USD 19.17 billion in 2023. The market for veterinary drugs is being driven by the development of new drugs and increasing ownership of animals. The market is further expected to grow at a CAGR of 6.2% in the forecast period of 2024-2032 to reach a value of approximately USD 33.00 billion by 2032.
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Increasing Ownership of Animals is Bolstering the Veterinary Drugs Industry Growth
The increasing ownership of animals, both companions and livestock, is rapidly boosting the market growth for veterinary drugs. The ownership of animals comes with the responsibility of keeping them healthy; therefore, the growing developments in veterinary drugs is supporting the growth of the market. Animal derivatives such as milk, eggs, among others, are driving the ownership of livestock and indirectly boosting the growth of the veterinary drugs industry. The increasing use of animal derivatives prompts the owner to keep the livestock consistently treated to prevent diseases, parasites, etc., thereby aiding the industry growth. The high adoption rate of companion animals is a driving factor for the growth of the veterinary drugs industry due to owners being highly careful and preventive of any medical problems.
Veterinary Drugs: Market Segmentation
Veterinary drugs are essential for the life of animals, as they are used to treat diseases, parasites etc., after an accurate diagnosis. General veterinary drugs are used to examine pharmacology, metabolic safety, toxicology, food safety, etc., whilst specialized drugs are also available to treat high order diseases. Respective authorities of nations establish stringent guidelines for the administration and production of these drugs as the growing need for these drugs is becoming prevalent. The vital necessity for owners of animals, both companions and livestock, to keep their animals healthy is highly significant for the veterinary drugs industry.
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Based on product, the market is divided into:
- Biologics
- Pharmaceuticals
- Medicinal Feed Additives
Biologics is further divided on the basis of type into vaccines and others, whereas, pharmaceuticals is further divided on the basis of type into parasiticides, anti-infectives, anti-inflammatory, analgesics, among others.
Based on animal, the market is bifurcated into:
- Companion
- Livestock
Based on route of administration, the market is categorised into:
- Oral
- Parental
- Topical
Based on distribution channel, the market is segmented into:
- Veterinary Hospitals and Clinics
- Pharmacies and Drug Stores
- Online
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Advancements in Medical Procedures and Drugs to Boost the Growth of Veterinary Drugs Industry
The continuous advancements in the veterinary sector, such as wearable devices to monitor animal health, minimally invasive surgical procedures, among others, are supporting the growth of this market. The developments in the effectiveness of drugs as well as the introduction of new drugs to treat diseases are bolstering the growth of the industry. The market growth is significantly boosted by the rising demand for parasiticides, as more and more livestock owners are focusing on animal health to boost their business in animal derivatives. Growing animal health awareness initiatives by governments and the private sector, along with sponsoring of different veterinary key players are predicted to have a high growth rate during the forecast period.
Key Industry Players in the Global Veterinary Drugs Market
The report gives a detailed analysis of the following key players in the global veterinary drugs market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Bayer AG
- Vetoquinol S.A.
- Boehringer Ingelheim International GmbH
- Kindred Biosciences, Inc.
- Zoetis Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Animal |
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| Breakup by Route of Administration |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Veterinary Drugs Market Analysis
8.1 Key Industry Highlights
8.2 Global Veterinary Drugs Historical Market (2018-2023)
8.3 Global Veterinary Drugs Market Forecast (2024-2032)
8.4 Global Veterinary Drugs Market by Product
8.4.1 Biologics
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Market by Type
8.4.1.3.1 Vaccines
8.4.1.3.1.1 Historical Trend (2018-2023)
8.4.1.3.1.2 Forecast Trend (2024-2032)
8.4.1.3.2 Others
8.4.2 Pharmaceuticals
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Market by Type
8.4.2.3.1 Parasiticides
8.4.2.3.1.1 Historical Trend (2018-2023)
8.4.2.3.1.2 Forecast Trend (2024-2032)
8.4.2.3.2 Anti-Infectives
8.4.2.3.2.1 Historical Trend (2018-2023)
8.4.2.3.2.2 Forecast Trend (2024-2032)
8.4.2.3.3 Anti-Inflammatory
8.4.2.3.3.1 Historical Trend (2018-2023)
8.4.2.3.3.2 Forecast Trend (2024-2032)
8.4.2.3.4 Analgesics
8.4.2.3.4.1 Historical Trend (2018-2023)
8.4.2.3.4.2 Forecast Trend (2024-2032)
8.4.2.3.5 Others
8.4.3 Medicinal Feed Additives
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Veterinary Drugs Market by Animal
8.5.1 Companion
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Livestock
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Veterinary Drugs Market by Route of Administration
8.6.1 Oral
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Parenteral
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Topical
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Veterinary Drugs Market by Distribution Channel
8.7.1 Veterinary Hospitals and Clinics
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Pharmacies and Drug Stores
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Online
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Veterinary Drugs Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Veterinary Drugs Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Veterinary Drugs Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Veterinary Drugs Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Veterinary Drugs Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Veterinary Drugs Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Bayer AG
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Vetoquinol S.A.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Boehringer Ingelheim International GmbH
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Kindred Biosciences, Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Zoetis Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Veterinary Drugs Market: Key Industry Highlights, 2018 and 2032
2. Global Veterinary Drugs Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Veterinary Drugs Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Veterinary Drugs Historical Market: Breakup by Animal (USD Billion), 2018-2023
5. Global Veterinary Drugs Market Forecast: Breakup by Animal (USD Billion), 2024-2032
6. Global Veterinary Drugs Historical Market: Breakup by Route of Administration (USD Billion), 2018-2023
7. Global Veterinary Drugs Market Forecast: Breakup by Route of Administration (USD Billion), 2024-2032
8. Global Veterinary Drugs Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
9. Global Veterinary Drugs Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
10. Global Veterinary Drugs Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Veterinary Drugs Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Veterinary Drugs Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Veterinary Drugs Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Veterinary Drugs Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Veterinary Drugs Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Veterinary Drugs Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Veterinary Drugs Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Veterinary Drugs Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Veterinary Drugs Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Veterinary Drugs Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Veterinary Drugs Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Major Importing Countries by Volume (2020)
23. Major Exporting Countries by Volume (2020)
24. Major Importing Countries by Value (2020)
25. Major Exporting Countries by Value (2020)
26. Global Veterinary Drugs Market Structure
Key Questions Answered in the Report
In 2023, the global veterinary drugs market attained a value of nearly USD 19.17 billion.
The market is projected to grow at a CAGR of 6.2% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 33.00 billion by 2032.
The major drivers of the market include the development of new drugs and the increasing ownership of animals.
The key trends of the market are research and developments to increase the effectiveness of drugs and the introduction of new drugs to treat diseases.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Biologics, pharmaceuticals, and medicinal feed additives are the leading products in the market. Biologics are further divided into vaccines, among others. Pharmaceuticals are further segmented into parasiticides, anti-infectives, anti-inflammatory, and analgesics, among others.
Companion and livestock are the significant animals in the market.
Oral, parenteral, and topical are the leading route of administration in the market.
Veterinary, hospitals and clinics, pharmacies and drug stores, and online, among others are the major distribution channels in the market.
The key players in the global veterinary drugs market are Bayer AG, Vetoquinol S.A., Boehringer Ingelheim International GmbH, Kindred Biosciences, Inc., and Zoetis Inc., among others.
Analyst Review
The global veterinary drugs market attained a value of USD 19.17 billion in 2023, driven by the development of new drugs and increasing ownership of animals. The market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 6.2%. The market is projected to reach USD 33.00 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its products, the veterinary drugs industry can be segmented into biologics, pharmaceuticals, and medicinal feed additives. On the basis of animals, the market is divided into companion and livestock. On the basis of route of administration, the market is divided into oral, parental, and topical. Based on distribution channel, the market is divided into veterinary, hospitals and clinics, pharmacies and drug stores, and online, among others. The major regional markets for veterinary drugs are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Bayer AG, Vetoquinol S.A., Boehringer Ingelheim International GmbH, Kindred Biosciences, Inc., and Zoetis Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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