Veterinary Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global veterinary medicine market size reached US$ 33.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.
Veterinary medicine is a branch of science that deals in the prevention, control, diagnosis, and treatment of diseases that affect the health of domestic and wild animals. It helps maintain the health of food-producing animals, inhibit the transmission of zoonotic diseases from animal species to humans, and ensure a safe supply of food worldwide. At present, the escalating consumption of animal-derived products is increasing the adoption of veterinary medicines to monitor the health of agricultural animals and prevent human exposure to diseases.
Veterinary Medicine Market Trends:
The growing trend of nuclear families and inflating income levels have increased the overall spending of individuals on pets globally. This, in confluence with the rising concerns among pet parents about the well-being of their pets, represents one of the major factors supporting the demand for veterinary medicines. The increasing penetration of pet insurance is further influencing the market growth. Apart from this, the expanding animal husbandry activities, along with the escalating cases of zoonotic and chronic diseases among animals, are increasing the concerns about food safety. This, along with the increasing number of commercial animal-production programs, is promoting the adoption of veterinary medicines for better diagnosis and treatment for livestock. Moreover, the easy availability of advanced diagnostic imaging, novel therapies, nuclear and regenerative medicines, laser diagnostics, and specialized surgeries in numerous vet hospitals and clinics is bolstering the market growth. Furthermore, biomedical researchers are developing safe and effective vaccines to prevent pet diseases, which is anticipated to strengthen the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global veterinary medicine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, animal type, route of administration and distribution channel.
Breakup by Product:
Drugs
Anti-infective
Anti-inflammatory
Parasiticide
Vaccines
Inactivated Vaccines
Attenuated Vaccines
Recombinant Vaccines
Medicated Feed Additives
Amino Acids
Antibiotics
Breakup by Animal Type:
Production
Companion
Breakup by Route of Administration:
Oral
Parenteral
Topical
Breakup by Distribution Channel:
Veterinary Hospitals and Clinics
Point-of-Care Testing/In-house Testing
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Archer-Daniels-Midland Company, Boehringer Ingelheim GmbH, Cargill Incorporated, Ceva Santé Animale, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Evonik Industries AG, Merck & Co. Inc., Neogen Corporation, Vetoquinol S.A., Virbac and Zoetis Inc.
Key Questions Answered in This Report
1. What was the size of the global veterinary medicine market in 2022?
2. What is the expected growth rate of the global veterinary medicine market during 2023-2028?
3. What are the key factors driving the global veterinary medicine market?
4. What has been the impact of COVID-19 on the global veterinary medicine market?
5. What is the breakup of the global veterinary medicine market based on the animal type?
6. What is the breakup of the global veterinary medicine market based on the route of administration?
7. What is the breakup of the global veterinary medicine market based on the distribution channel?
8. What are the key regions in the global veterinary medicine market?
9. Who are the key players/companies in the global veterinary medicine market?
- 1 Preface
- 2 Scope and Methodology
- 2.1Objectives of the Study
- 2.2Stakeholders
- 2.3Data Sources
- 2.3.1Primary Sources
- 2.3.2Secondary Sources
- 2.4Market Estimation
- 2.4.1Bottom-Up Approach
- 2.4.2Top-Down Approach
- 2.5Forecasting Methodology
- 3Executive Summary
- 4Introduction
- 4.1Overview
- 4.2Key Industry Trends
- 5Global Veterinary Medicine Market
- 5.1Market Overview
- 5.2Market Performance
- 5.3Impact of COVID-19
- 5.4Market Forecast
- 6Market Breakup by Product
- 6.1Drugs
- 6.1.1 Market Trends
- 6.1.2 Key Segments
- 6.1.2.1 Anti-infective
- 6.1.2.2 Anti-inflammatory
- 6.1.2.3 Parasiticide
- 6.1.3 Market Forecast
- 6.2Vaccines
- 6.2.1 Market Trends
- 6.2.2 Key Segments
- 6.2.2.1 Inactivated Vaccines
- 6.2.2.2 Attenuated Vaccines
- 6.2.2.3 Recombinant Vaccines
- 6.2.3 Market Forecast
- 6.3Medicated Feed Additives
- 6.3.1 Market Trends
- 6.3.2 Key Segments
- 6.3.2.1 Amino Acids
- 6.3.2.2 Antibiotics
- 6.3.3 Market Forecast
- 7Market Breakup by Animal Type
- 7.1Production
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2Companion
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 8Market Breakup by Route of Administration
- 8.1Oral
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2Parenteral
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3Topical
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 9Market Breakup by Distribution Channel
- 9.1Veterinary Hospitals and Clinics
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2Point-of-Care Testing/In-house Testing
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3Others
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 10Market Breakup by Region
- 10.1North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
- 11SWOT Analysis
- 11.1Overview
- 11.2Strengths
- 11.3Weaknesses
- 11.4Opportunities
- 11.5Threats
- 12Value Chain Analysis
- 13Porters Five Forces Analysis
- 13.1Overview
- 13.2Bargaining Power of Buyers
- 13.3Bargaining Power of Suppliers
- 13.4Degree of Competition
- 13.5Threat of New Entrants
- 13.6Threat of Substitutes
- 14Price Analysis
- 15Competitive Landscape
- 15.1Market Structure
- 15.2Key Players
- 15.3Profiles of Key Players
- 15.3.1Archer-Daniels-Midland Company
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2Boehringer Ingelheim GmbH
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3Cargill Incorporated
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 SWOT Analysis
- 15.3.4Ceva Santé Animale
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5Dechra Pharmaceuticals PLC
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.6Elanco Animal Health Incorporated
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.7Evonik Industries AG
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.8Merck & Co. Inc.
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.9Neogen Corporation
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.10Vetoquinol S.A.
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials
- 15.3.11Virbac
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 Financials
- 15.3.11.4 SWOT Analysis
- 15.3.12Zoetis Inc.
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.12.3 Financials
- 15.3.12.4 SWOT Analysis
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