Asia Pacific Veterinary Medicine Market Size & Outlook
Asia Pacific veterinary medicine market, 2018-2030 (US$M)
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Asia Pacific veterinary medicine market highlights
- The Asia Pacific veterinary medicine market generated a revenue of USD 10,458.3 million in 2023.
- The market is expected to grow at a CAGR of 9.1% from 2024 to 2030.
- In terms of segment, pharmaceuticals was the largest revenue generating product in 2023.
- Biologics is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 10,458.3 million |
| Market revenue in 2030 | USD 19,217.3 million |
| Growth rate | 9.1% (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 |
| Key market players worldwide | Zoetis Inc Class A, Boehringer Ingelheim, Merck & Co Inc, Elanco Animal Health Inc, Dechra Pharmaceuticals, Ceva Santé Animale, Phibro Animal Health Corp Class A, Virbac SA, Bimeda Ireland, Biogenesis Bago |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 22.5% of the global veterinary medicine market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 19,217.3 million by 2030.
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Veterinary Medicine Market Scope
Veterinary Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific 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 67.64% in 2023. Horizon Databook has segmented the Asia Pacific veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific market is expected to exhibit lucrative growth over the forecast period. This can be attributed to the increasing adoption of pet animals, growing health concerns, increasing vigilance about animal health, rising livestock population, and increasing prevalence of animal diseases.
Moreover, market growth in the region can be attributed to a significantly large cattle population. For instance, China & India constitute more than 30% of the global population of cattle. The large livestock population has enhanced the demand for meat & dairy production, which is expected to further boost the demand for veterinary medicines for livestock animals.
An increase in the number of veterinary hospitals and clinics in countries such as China is further boosting market growth. The region has a wide number of market players. These market players are involved in strategic partnerships, expansions, product launches, and others to cater to market demand.
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Target buyers of Asia Pacific veterinary medicine market databook
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Our clientele includes a mix of veterinary medicine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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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 continent-level data and insights on the Asia Pacific veterinary medicine market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific veterinary medicine market size, by country, 2018-2030 (US$M)
Asia Pacific Veterinary Medicine Market Outlook Share, 2023 & 2030 (US$M)
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