Global Veterinary Medicine Market
The global Veterinary Medicine market is estimated to be worth over USD 48.91 Bn in 2033 and is expected to grow at CAGR of 7.5% during the forecast period (2024-2033).
The global veterinary medicine market is witnessingstrong growth, fuelled by numerous key factors. One primary driver is the growing rate of pet ownership worldwide, leading to heightened demand for veterinary products and services. As pet owners prioritize the health and well-being of their animal companions, there is a growing emphasis on preventive care, routine vaccinations, and specialized treatments, fuelling market expansion. In addition to that, the amplification of livestock farming to meet rising food demands is contributing to the demand for veterinary pharmaceuticals in the agricultural sector. Regulatory initiatives aimed at ensuring animal welfare and food safety further spur market growth, accelerating innovation and compliance within the industry.
In terms of major developments, there is a leading trend towards personalized veterinary medicine, driven by advancements in biotechnology, genetics, and digital health technologies. Veterinary pharmaceutical companies are increasingly focusing on developing customized therapeutic solutions, such as precision medicine approaches and targeted therapies, to address particular medical conditions in companion animals. Along with that, the expansion of telemedicine and digital health solutions is transforming the delivery of veterinary care, particularly in light of the COVID-19 pandemic. Veterinarians are adopting telemedicine platforms and wearable devices to conduct virtual consultations, monitor animal health remotely, and enhance client communication, driving greater efficiency, accessibility, and client engagement in veterinary practice. All in all, the global veterinary medicine market presents lucrative opportunities for stakeholders, driven by evolving consumer preferences, technological advancements, and regulatory developments, defining the future landscape of veterinary healthcare.
The market report presents an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this industry, across different geographies. Amongst other elements, the market report includes:
A preface providing an introduction to the full report, Veterinary Medicine market, 2023-2033.
An outline of the systematic research methodology adopted to conduct the study on Veterinary Medicine market, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
An overview of economic factors that impact the overall Veterinary Medicine market, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
An executive summary of the insights captured during our research, offering a high-level view of the current state of the Veterinary Medicine market and its likely evolution in the mid-to-long term.
A brief introduction to the Veterinary Medicine, highlighting their historical background, as well as information on their types, key aspects, key challenges and the advantages of using Veterinary Medicine.
A detailed assessment of the market landscape of Veterinary Medicine that are either approved or being evaluated in different stages of development, based on several relevant parameters, such as By Animal Type (Production (Poultry, Swine, Cattle, Sheep & Goats, Fish), Companion (Dogs, Cats, Horses, Others), By Product (Biologics (Vaccine, Live Attenuated Vaccines, DNA Vaccines, Recombinant Vaccines, Inactivated Vaccines, Others), Pharmaceuticals (Parasiticides, Anti-infectives, Anti-inflammatory, Analgesics, Others), Medicated Feed Additives, Others), By Mode of Delivery (Oral (Powder, Tablets), Parenteral (Suspension, Topical, Carrier), Other), By End-User (Reference Laboratories, Point-of-care Testing/In-house Testing, Veterinary Hospitals & Clinics, Others). Further, the chapter features analysis on key niche market segments. In addition, the chapter features analysis of various Veterinary Medicine developers, based on their year of establishment, company size, location of headquarters and most active players.
An in-depth analysis of partnerships and collaborations that have been inked between various stakeholders, since 2019, based on several relevant parameters, such as the year of partnership, type of partnership, focus of partnership, purpose of partnership, therapeutic applications and most active players (in terms of number of partnerships). It also highlights the regional distribution of partnership activity in this market.
A detailed analysis of various investments made by companies engaged in this industry, since 2019, based on several relevant parameters, such as year of funding, type of funding (grants, seed, venture capital, initial public offering, secondary offerings, private equity and debt financing), type of HPAPIs, amount invested, geography, purpose of funding, stage of development, therapeutic area, most active players (in terms of number and amount of funding instances) and leading investors (in terms of number of funding instances).
An in-depth analysis of the various Veterinary Medicine focused initiatives undertaken by big market players, based on several relevant parameters, such as number of initiatives, year of initiative, type of initiative, purpose of initiative, focus of initiative and location of headquarters of the big pharma players.
One of the key objectives of this market report was to estimate the current market size and the future growth potential of the Veterinary Medicine over the forecast period. Based on several parameters, such as regional analysis as well as segmental analysis rates, we have developed informed estimates of the likely evolution of the Veterinary Medicine market over the forecast period 2023-2033. Our year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as By Animal Type (Production (Poultry, Swine, Cattle, Sheep & Goats, Fish), Companion (Dogs, Cats, Horses, Others), By Product (Biologics (Vaccine, Live Attenuated Vaccines, DNA Vaccines, Recombinant Vaccines, Inactivated Vaccines, Others), Pharmaceuticals (Parasiticides, Anti-infectives, Anti-inflammatory, Analgesics, Others), Medicated Feed Additives, Others), By Mode of Delivery (Oral (Powder, Tablets), Parenteral (Suspension, Topical, Carrier), Other), By End-User (Reference Laboratories, Point-of-care Testing/In-house Testing, Veterinary Hospitals & Clinics, Others), by key geographical regions (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) and leading players. In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s evolution.