Thailand Veterinary Medicine Market Size & Outlook
Thailand veterinary medicine market, 2018-2030 (US$M)
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Thailand veterinary medicine market highlights
- The Thailand veterinary medicine market generated a revenue of USD 156.0 million in 2023 and is expected to reach USD 303.7 million by 2030.
- The Thailand market is expected to grow at a CAGR of 10% 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 156.0 million |
| Market revenue in 2030 | USD 303.7 million |
| Growth rate | 10% (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, Thailand accounted for 0.3% 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 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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Thailand 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 67.69% in 2023. Horizon Databook has segmented the Thailand veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
Thailand veterinary medicine market is anticipated to grow over the forecast period owing to rising incidence of disease outbreaks. For instance, in 2022, the World Organization for Animal Health Thailand reported around 110 Foot and Mouth Disease (FMD) outbreaks, which mostly affected cattle and buffaloes.
Hence, the rising occurrence and outbreaks of such diseases is impelling the need for veterinary medicines. Such factors are expected to drive market growth in the country. In addition, in 2022, as per the National Center for Biotechnology Information, Lumpy Skin Disease (LSD) was one of the emerging viral diseases, and during the years 2021 & 2022, numerous outbreaks of LSD were noted in Thailand.
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Our clientele includes a mix of veterinary medicine market companies, investment firms, advisory firms & academic institutions.
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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 Thailand veterinary medicine market , including forecasts for subscribers. This country databook contains high-level insights into Thailand veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand veterinary medicine market size, by product, 2018-2030 (US$M)
Thailand Veterinary Medicine Market Outlook Share, 2023 & 2030 (US$M)
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