India Veterinary Medicine Market Size & Outlook, 2023-2030
India veterinary medicine market, 2018-2030 (US$M)
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India veterinary medicine market highlights
- The India veterinary medicine market generated a revenue of USD 1,805.7 million in 2023 and is expected to reach USD 3,553.3 million by 2030.
- The India market is expected to grow at a CAGR of 10.2% 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 1,805.7 million |
| Market revenue in 2030 | USD 3,553.3 million |
| Growth rate | 10.2% (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, India accounted for 3.9% 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 Asia Pacific, China veterinary medicine market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,553.3 million by 2030.
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Veterinary Medicine Market Scope
Veterinary Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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India 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 67.65% in 2023. Horizon Databook has segmented the India veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
The veterinary medicine market is expected to grow at a CAGR of 10.3% over the forecast period owing to rising government efforts to boost veterinary healthcare facilities and various funding schemes delivered by the state as well as the national government.
The states of Rajasthan, Uttar Pradesh, and Punjab collectively accounted for over 50% of the veterinary hospitals/polyclinics. The government is providing funding for establishing and strengthening existing veterinary hospitals & dispensaries, thereby increasing growth opportunities in India.
One of the main providers of pet insurance, which can pay for procedures and hospitalization, is Bajaj Allianz. Other prominent providers are New India Assurance, Vetina Paw tect, and Oriental Insurance. There are also livestock insurance schemes in India, due to the large population of production animals 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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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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Horizon Databook provides a detailed overview of country-level data and insights on the India veterinary medicine market , including forecasts for subscribers. This country databook contains high-level insights into India veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India veterinary medicine market size, by product, 2018-2030 (US$M)
India Veterinary Medicine Market Outlook Share, 2023 & 2030 (US$M)
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