Veterinary Products Market size is estimated to be USD 20.5 Billion in 2024 and is expected to reach USD 32.1 Billion by 2033 at a CAGR of 5.4% from 2026 to 2033.
The global veterinary products market was valued at USD 34.34 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030. This growth is driven by the increasing pet population, rising awareness about animal health, and growing demand for animal based food products. The market is segmented into two major categories: pharmaceuticals and vaccines, with pharmaceuticals holding the largest market share. The rising incidence of zoonotic diseases, the increasing need for advanced veterinary care, and government support for animal welfare programs contribute to the markets expansion. The CAGR for the veterinary pharmaceutical segment is projected to be 6.9%, while vaccines are expected to grow at a rate of 8.2%. Regionally, North America accounted for the largest share of the veterinary products market, with an estimated value of USD 12.78 billion in 2022. The region’s growth is attributed to the high pet ownership rate, well established healthcare infrastructure, and rising animal disease awareness. Europe follows closely with a market size of USD 9.85 billion, driven by the strong demand for livestock and companion animal care. The Asia Pacific region is expected to witness the highest growth, with a CAGR of 8.7%, owing to the increasing animal husbandry practices, improving healthcare facilities, and rapid urbanization. The Middle East and Africa, along with Latin America, present significant opportunities due to the rising investments in veterinary care and increasing pet adoption rates.
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Boehringer Ingelheim
Zoetis
Elanco Animal Health
Bayer Animal Health
Merck Animal Health
Virbac
Dechra Veterinary Products
Ceva
Vetoquinol
Meiji
Boehringer Ingelheim
Animalcare Group
Parnell
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Veterinary Products Market
Pharmaceuticals
Vaccines
Medicated Feed Additives
Diagnostics
Animal Parasiticides
Others
Companion Animals
Livestock
Equine
Aquatic Animals
Therapeutic
Prophylactic
Diagnostic
Veterinary Hospitals and Clinics
Research Institutes
Retail Pharmacies
Online Pharmacies
Animal Farms
Oral
Parenteral
Topical
Inhalation
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Veterinary Products Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Veterinary Products Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Veterinary Products Market, By Type
6. Global Veterinary Products Market, By Application
7. Global Veterinary Products Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Veterinary Products Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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