UK Veterinary Medicine Market Size & Outlook, 2023-2030
UK veterinary medicine market, 2018-2030 (US$M)
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UK veterinary medicine market highlights
- The UK veterinary medicine market generated a revenue of USD 2,803.2 million in 2023 and is expected to reach USD 4,645.7 million by 2030.
- The UK market is expected to grow at a CAGR of 7.5% 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 2,803.2 million |
| Market revenue in 2030 | USD 4,645.7 million |
| Growth rate | 7.5% (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, UK accounted for 6.0% 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 Europe, UK veterinary medicine market is projected to lead the regional market in terms of revenue in 2030.
- Denmark is the fastest growing regional market in Europe and is projected to reach USD 469.2 million by 2030.
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Veterinary Medicine Market Scope
Veterinary Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 67.74% in 2023. Horizon Databook has segmented the UK veterinary medicine market based on biologics, pharmaceuticals, medicated feed additives covering the revenue growth of each sub-segment from 2018 to 2030.
The UK veterinary medicine market is anticipated to witness lucrative growth over the forecast period. Factors contributing to the market growth are increasing pet ownership, growing adoption of pet insurance, increasing number of strategic initiatives undertaken by key companies, and rising prevalence of number of zoonotic diseases.
For instance, according to the Health and Safety Executive, in the UK, there are around 40 zoonotic diseases currently identified, and approximately 300,000 people in various occupations are vulnerable to these zoonotic diseases, which creates market demand.
For instance, the annual growth rate of pet care revenue is 4.5%, and the average annual spending per dog is USD 3,541.6 (GBP 2,880) & per cat is USD 1,475.7 (GBP 1,200). Such factors are positively influencing the veterinary medicine market in the country.
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Target buyers of UK veterinary medicine market databook
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the UK veterinary medicine market , including forecasts for subscribers. This country databook contains high-level insights into UK veterinary medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK veterinary medicine market size, by product, 2018-2030 (US$M)
UK Veterinary Medicine Market Outlook Share, 2023 & 2030 (US$M)
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