The global veterinary medicines market attained a value of about USD 25.97 Billion in 2025. The market is further expected to grow in the forecast period of 2026-2035 at a CAGR of 4.60% to reach nearly USD 40.72 Billion by 2035.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
4.6%
Value in USD Billion
2026-2035
*this image is indicative*
| Global Veterinary Medicines Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 25.97 |
| Market Size 2035 | USD Billion | 40.72 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 4.60% |
| CAGR 2026-2035 - Market by Region | Asia Pacific | 5.9% |
| CAGR 2026-2035 - Market by Country | India | 6.2% |
| CAGR 2026-2035 - Market by Country | UK | 6.0% |
| CAGR 2026-2035 - Market by Product | Vaccines | 5.2% |
| CAGR 2026-2035 - Market by Route of Administration | Parenteral Route | 5.5% |
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The market for veterinary medicines is being driven by the growing pet ownership, especially among the millennial and Gen-Z population. According to the American Pet Products Association, about USD 103.6 billion were spent on pets in the United States in 2020 itself. As pet parents are increasingly spending to enhance the lifespan of their pets, the demand for veterinary medicines is surging, which is propelling the market growth. The trend of pet ownership has further been fuelled by the COVID-19 outbreak owing to the increasing dependence on companion animals for emotional support during stay-at-home orders and nationwide lockdowns. This is expected to surge the demand for medicines for pets, which is projected to bolster the growth of the veterinary medicines industry in upcoming years.
The rising prevalence of epidemics and outbreaks among animals is increasing the demand for vaccines for animals, which is fuelling the industry growth. As innovations in vaccine technology are leading to the development of more efficient vaccines, pet parents are increasingly preferring them. In addition, the growing demand for alternative medicines for animals to minimise the use of antibiotics is augmenting the market growth. Hence, the development of effective immunotherapy for animals to treat bacteria-related diseases is estimated to augment the growth of the veterinary medicines industry in the forecast period.
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Veterinary medicine refers to the branch of science that deals with control, prevention, diagnosis, and treatment of diseases, of both wild and domestic animals. It ensures the safety of companion animals as well as food products derived from animals. It aids in monitoring the health of animals to prevent the risk of zootomic diseases, which can seldom affect humans.
The major products of veterinary medicine are:
Drugs segment can be further divided into anti-infective, anti-inflammatory, and parasiticide, whereas the vaccines segment is further classified into inactivated vaccines, attenuated vaccines, and recombinant vaccines. Meanwhile, the medicated feed additives segment is further bifurcated into amino acids and antibiotics.
The market can be broadly categorised on the basis of its routes of administration into:
By animal type, the market is bifurcated into:
Based on distribution channels, the market is divided into:
Based on region, the market is divided into:
| CAGR 2026-2035 - Market by | Country |
| India | 6.2% |
| UK | 6.0% |
| China | 5.2% |
| Australia | 4.0% |
| Germany | 3.9% |
| France | 3.8% |
| USA | XX% |
| Canada | XX% |
| Italy | XX% |
| Japan | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
The adoption of the latest technological advancements and innovations is fuelling the market for veterinary medicines. This is also surging the cost-effectiveness of animal treatment, thereby strengthening the market growth. As veterinarians are increasingly adopting technologies such as Big Data and artificial intelligence (AI) to provide optimal medicinal treatment to animals, the deployment of effective medicines for animals is escalating. Moreover, the trend of animal wearable devices is also boosting the focus on animal health, hence augmenting the growth of the veterinary medicines industry. The increasing availability of effective animal treatment in developing countries is also accelerating the demand for veterinary medicines.
The initiation of various research activities to enhance the quality of life of animals is expected to drive the market growth. The development of predictive biomarker tools that can aid in early diagnostic of pathology or disease is increasing the demand for veterinary medicines, which is projected to bolster the market growth. In addition, the trend of preventive care is escalating the demand for medicines to decrease the risk of disease contraction and infection in animals and is anticipated to catalyse the growth of the veterinary medicines industry in the forecast period.
The report presents a detailed analysis of the following key players in the global veterinary medicines market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
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In 2025, the global veterinary medicines market attained a value of nearly USD 25.97 Billion.
The market is projected to grow at a CAGR of 4.60% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach about USD 40.72 Billion by 2035.
The major market drivers include increasing pet ownership and the rising demand for veterinary vaccines to prevent the risk of zoonotic diseases in animals.
The key trends fuelling the market growth are technological advancements and innovations, the growing cost-effectiveness of animal treatment, and the increasing research and development (R&D) activities.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products of veterinary medicines in the market are drugs, vaccines, and medicated feed additives.
The various routes of administration of veterinary medicines are oral route, parenteral route, and topical route.
Companion animal and livestock animal are the different animal types considered in the veterinary medicines market report.
The significant distribution channels in the market are veterinary hospital pharmacies and retail veterinary pharmacies.
The major players in the market are Archer-Daniels-Midland Company, Boehringer Ingelheim International GmbH, Dechra Pharmaceuticals PLC., Evonik Industries AG, and Elanco Animal Health Incorporated, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| 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 Route of Administration |
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| Breakup by Animal Type |
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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. |
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