Global Veterinary Medicine Market Size To Exceed USD 123.26 Billion By 2035 | CAGR Of 8.52%
Category: HealthcareGlobal Veterinary Medicine Market Size To Exceed USD 123.26 Billion By 2035
According to a research report published by Spherical Insights & Consulting, The Global Veterinary Medicine Market Size is Expected To Grow from USD 50.12 Billion in 2024 to USD 123.26 Billion by 2035, at a CAGR of 8.52% during the forecast period 2025-2035.
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Browse 213 Market Data Tables And 45 Figures Spread Through 130 Pages and In-Depth TOC On the "Global Veterinary Medicine Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Drugs, Vaccines, and Medicated Feed Additives), By Animal Type (Companion Animals and Livestock Animals), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/veterinary-medicine-market
The Veterinary Medicine Market Size encompasses products and services aimed at maintaining animal health, including drugs, vaccines, biologics, and diagnostics for companion and livestock animals. Market growth is driven by rising pet ownership, increasing livestock production, technological advancements in pharmaceuticals and vaccines, and government initiatives promoting animal welfare and preventive care. Expansion in emerging economies and growing awareness of zoonotic diseases further bolster demand. However, high costs of advanced treatments, limited access to veterinary services in rural areas, regulatory complexities, and a shortage of skilled veterinary professionals restrain wider adoption, challenging market players despite strong growth prospects.
The drugs segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the veterinary medicine market is divided into drugs, vaccines, and medicated feed additives. Among these, the drugs segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. This is attributed to the drugs segment maintains leadership due to continuous innovation in pharmaceutical formulations, biologics, and targeted therapies, rising demand for disease treatment in companion animals and livestock, and increasing adoption of advanced medications that improve animal health and productivity.
The companion animals segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the animal type, the veterinary medicine market is divided companion animals and livestock animals. Among these, the companion animals segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. This is attributed to the companion animals segment maintains leadership because rising pet ownership, increased spending on pet healthcare, and innovations in pharmaceuticals and biologics improve treatment options, preventive care, and overall pet well-being, driving consistent market demand and adoption
North America is expected to hold the majority share of the global veterinary medicine market over the forecast period.
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North America is expected to hold the majority share of the global veterinary medicine market during the forecast period. North America leads the veterinary medicine market due to high pet ownership, with over 90 million households owning pets in the U.S., coupled with advanced veterinary infrastructure, widespread access to clinics, and growing awareness of animal health. Rising spending on pet healthcare, exceeding USD 37 billion annually, and adoption of innovative pharmaceuticals and biologics further strengthen market dominance.
Asia Pacific is anticipated to grow at the fastest pace in the global veterinary medicine market during the forecast period. The Asia-Pacific veterinary medicine market is growing fastest due to rising livestock production and urban pet ownership. Countries like China and India see over 300 million livestock and 35 million pets, respectively, coupled with increasing veterinary infrastructure, government support, and rising awareness.
Major vendors in the global veterinary medicine market are Agrovet Market Animal Health, American Veterinary Clinic, Animalcare, BASF India Ltd, Belfarmacom, Bimeda, Biotex Plus Ltd, Boehringer Ingelheim Gmbh, Brouwer, Cadila Pharmaceuticals Ltd, Cargill India Pvt. Ltd, Ceva, Chemo Argentina, Koninklijke DSM N.V, Mars, Merck & Co., Saudi Pharmaceutical Industries, Sauvet, Selecta, Syntec, The British Veterinary Center, UCBVET, Vetanco, Veterinarski Zavod Subotica, Vetmedica, Wageningen Bioveterinary Research, Wilbur-Ellis, Zoetis.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In September 2025, The Society of Practising Veterinary Surgeons (SPVS) has announced the launch of the third Veterinary Business Excellence Awards, sponsored by Shire. These awards aim to recognize outstanding veterinary practices in three categories: Leadership and Management Skills, Team and Self-Development, and Veterinary Start-Ups.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the veterinary medicine market based on the below-mentioned segments:
Global Veterinary Medicine Market, By Product Type
- Drugs
- Vaccines
- Medicated Feed Additives
Global Veterinary Medicine Market, By Animal Type
- Companion Animals
- Livestock Animals
Global veterinary medicine Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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