South Africa Veterinary Medicine Market Size & Outlook
South Africa veterinary medicine market, 2018-2030 (US$M)
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South Africa veterinary medicine market highlights
- The South Africa veterinary medicine market generated a revenue of USD 710.7 million in 2023 and is expected to reach USD 1,199.3 million by 2030.
- The South Africa market is expected to grow at a CAGR of 7.8% 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 710.7 million |
| Market revenue in 2030 | USD 1,199.3 million |
| Growth rate | 7.8% (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, South Africa accounted for 1.5% 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 Middle East & Africa, South Africa veterinary medicine market is projected to lead the regional market in terms of revenue in 2030.
- Israel is the fastest growing regional market in Middle East & Africa and is projected to reach USD 85.7 million by 2030.
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Veterinary Medicine Market Scope
Veterinary Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa 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 66.77% in 2023. Horizon Databook has segmented the South Africa veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
The rising incidence of diseases and major outbreaks are key drivers of the country’s market. According to OIE, an outbreak of highly pathogenic avian influenza in poultry was reported in South Africa in April 2021. 29,000 poultry birds were identified to be at risk of contracting the disease, significantly impacting the safety of food stock as well as the productivity of animals.
Between July 2020 and December 2020, 14 outbreaks of low pathogenic avian influenza were recorded across the country with cases exceeding 200 birds. The increasing prevalence of similar diseases across animal types is expected to propel the demand for veterinary medicines, such as pharmaceuticals and biologics.
The growing need to safeguard the health of livestock animals, increasing incidence of diseases in animals, initiatives by market participants, and improving awareness regarding animal health are some of the key drivers of this market.
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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 South Africa veterinary medicine market , including forecasts for subscribers. This country databook contains high-level insights into South Africa veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa veterinary medicine market size, by product, 2018-2030 (US$M)
South Africa Veterinary Medicine Market Outlook Share, 2023 & 2030 (US$M)
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