North America Veterinary Medicine Market Size & Outlook
North America veterinary medicine market, 2018-2030 (US$M)
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North America veterinary medicine market highlights
- The North America veterinary medicine market generated a revenue of USD 15,453.4 million in 2023.
- The market is expected to grow at a CAGR of 6.9% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 15,453.4 million |
| Market revenue in 2030 | USD 24,721.8 million |
| Growth rate | 6.9% (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, North America region accounted for 33.2% 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 |
|---|
North America 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 67.6% in 2023. Horizon Databook has segmented the North America veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
The market is driven by the presence of established players and increasing demand for treatment among veterinary practices. According to Zoonoses and Public Health in 2016, zoonotic diseases are a major burden in North America region.
They are an additional threat to public health as animals are often the source of zoonotic diseases. The high prevalence of zoonotic diseases is contributing to market growth. According to CDC, animals can transmit six out of ten known infectious diseases to humans.
Moreover, favorable reimbursement programs across the countries in the region, such as the U.S., are fueling the veterinary medicine market. For instance, the North American Pet Health Insurance Association (NAPHIA) promotes awareness about pet health insurance coverage and developing & exploring partnerships to address the challenges faced by the animal healthcare industry.
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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 continent-level data and insights on the North America veterinary medicine market , including forecasts for subscribers. This continent databook contains high-level insights into North America veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America veterinary medicine market size, by country, 2018-2030 (US$M)
North America Veterinary Medicine Market Outlook Share, 2023 & 2030 (US$M)
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