Global Veterinary Medicine Market Size & Outlook
Global veterinary medicine market, 2018-2030 (US$M)
Related Markets
Global veterinary medicine market highlights
- The global veterinary medicine market generated a revenue of USD 46,510.5 million in 2023 and is expected to reach USD 80,711.0 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 8.2% by 2030.
- In terms of segment, pharmaceuticals accounted for a revenue of USD 31,431.1 million in 2023.
- Biologics is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 46,510.5 million |
| Market revenue in 2030 | USD 80,711.0 million |
| Growth rate | 8.2% (CAGR from 2023 to 2030) |
| Largest segment | Pharmaceuticals |
| Fastest growing segment | Biologics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biologics, Pharmaceuticals, Medicated Feed Additives |
Other key industry trends
- In terms of revenue, the North America accounted for 33.2% of the global veterinary medicine market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 21,802.2 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Veterinary Medicine Market Scope
Veterinary Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global veterinary medicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to veterinary medicine market will help companies and investors design strategic landscapes.
Pharmaceuticals was the largest segment with a revenue share of 67.58% in 2023. Horizon Databook has segmented the Global veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
The global livestock population has been experiencing rapid growth over the past few decades. According to a USDA report, there were around 94.4 million cattle calves in the U.S., as of 2017. In developing economies, the demand for livestock products is increasing. According to the 19th Animal Census Report, India was home to a livestock population of about 512 million.
Growing concern about food security and increasing animal husbandry occupations are boosting the demand for veterinary pharmaceuticals & vaccines for livestock. Increasing demand for animal products has intensified livestock production worldwide. Factors such as changes in food preferences owing to changing lifestyle habits and population growth are further boosting the demand for livestock products.
According to The American Pet Products Association report of 2018, overall spending in the U.S. pet industry increased by 4.1% from 2016 to 2017. Moreover, veterinary care spending increased by 7%, from USD 15.95 billion in 2016 to USD 17.07 billion in 2017. The increasing demand for vaccination and drugs is likely to propel the market over the forecast period.
Reasons to subscribe to Global veterinary medicine market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Global veterinary medicine market databook
-
Our clientele includes a mix of veterinary medicine market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global veterinary medicine market , including forecasts for subscribers. This global databook contains high-level insights into Global veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global veterinary medicine market size, by regions, 2018-2030 (US$M)
Top 10 countries: Veterinary medicine market size, 2023 (US$M)
Global veterinary medicine market share, by product, 2023 & 2030 (%, US$M)
Veterinary medicine market: Opportunity assessment by country
Global veterinary medicine market, by region, 2023 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
