Brazil Veterinary Medicine Market Size & Outlook
Brazil veterinary medicine market, 2018-2030 (US$M)
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Brazil veterinary medicine market highlights
- The Brazil veterinary medicine market generated a revenue of USD 2,482.9 million in 2023 and is expected to reach USD 4,144.5 million by 2030.
- The Brazil market is expected to grow at a CAGR of 7.6% 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.
Veterinary medicine market data book summary
| Market revenue in 2023 | USD 2,482.9 million |
| Market revenue in 2030 | USD 4,144.5 million |
| Growth rate | 7.6% (CAGR from 2023 to 2030) |
| Largest segment | Pharmaceuticals |
| Fastest growing segment | Biologics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Brazil accounted for 5.3% of the global veterinary medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil veterinary medicine market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 1,463.0 million by 2030.
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Veterinary Medicine Market Scope
Veterinary Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil 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 67.78% in 2023. Horizon Databook has segmented the Brazil veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
Rising mandates for vaccination to curb livestock disease outbreaks and increasing demand for livestock-related food products are primary factors expected to drive market growth. Brazil's veterinary medicine market growth can be attributed to a large cattle population.
Moreover, the country is also the world’s largest exporter of beef. This has resulted in greater awareness of animal health, and subsequently, boosted the demand for veterinary medicines in the country. Favorable government initiatives are likely to boost revenue growth.
The country has advanced significantly in the past 10 years in the global market for animal products as a result of the ongoing improvements in the health of its herd and the improving quality of its exported goods. Such factors are positively influencing the veterinary medicine market in the country.
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Our clientele includes a mix of veterinary medicine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil veterinary medicine market , including forecasts for subscribers. This country databook contains high-level insights into Brazil veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil veterinary medicine market size, by product, 2018-2030 (US$M)
Brazil Veterinary Medicine Market Outlook Share, 2023 & 2030 (US$M)
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