UK Veterinary Medicine Market To Reach $4.6 Billion By 2030

UK Veterinary Medicine Market Growth & Trends

The UK veterinary medicine market size is anticipated to reach USD 4.6 billion by 2030 and is anticipated to grow at a CAGR of 7.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to the novel product development in veterinary medicine, the rise in livestock population and increasing pet ownership rates, and the increasing government initiatives to spread awareness about animal health.

There is an increasing trend of pet adoption in the country, particularly influenced by the increasing ownership of smaller pets. According to the UK Pet Food 2024 stats, the pet dog population is estimated to be around 13.5 million, which accounts for around 36% of the households in the country owning a dog. Similarly, the pet cat population is estimated to be around 12.5 million, which accounts for around 29% of the households in the country owning a cat. This surge in pet ownership has led to greater consumer spending on veterinary medicines as pet owners are increasingly prioritizing their pets' health, resulting in higher expenditures on veterinary care, medications, and preventive treatments. As pet owners become more aware of the long-term health implications and necessary care for their pets, the demand for veterinary medicine in the country is further anticipated to increase.

In addition, the increasing efforts by government and private bodies through various partnerships and initiatives to increase awareness about animal health among pet and cattle owners are further contributing to the market growth. For instance, The Animal Health and Welfare Pathway, launched in 2023, aims to enhance farm animal health and welfare in the UK through collaboration among farmers, veterinarians, and the industry. This initiative is part of the Agricultural Transition Plan, focusing on improving biosecurity, tackling antimicrobial resistance, and reducing greenhouse gas emissions from livestock.

Financial support for farmers is one of the major focuses of the pathway, offering funding for veterinary consultations, capital investments, and disease control programs. This includes grants for infrastructure improvements and initiatives to enhance stockmanship through training. The pathway also aims to stimulate market demand for higher welfare products by improving transparency and ensuring fair pricing for farmers.

Moreover, zoonotic diseases, which can be transmitted from animals to humans, have gained significant attention due to their potential impact on public health. This awareness drives pet owners and livestock farmers to seek preventive care and vaccinations for their animals, thereby boosting the demand for veterinary medication. Similarly, in agriculture, changing practices aimed at improving animal welfare and productivity are driving demand for veterinary interventions as farmers are increasingly adopting biosecurity measures to prevent disease outbreaks within livestock populations, thereby contributing to segment growth.

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UK Veterinary Medicine Market Report Highlights

• Based on product, the pharmaceutical segment accounted for the largest revenue share of 67.7% in 2023 as the increasing prevalence of diseases in both companion and production animals has heightened the demand for effective veterinary pharmaceuticals.

• The biologics segment is expected to witness the fastest CAGR in the market owing to the increasing awareness among pet owners and livestock farmers about the importance of preventive healthcare.

• Based on animal type, the production animal segment dominated the market with the largest revenue share in 2023 owing to the increasing demand for high-quality meat, milk, and other animal products, which drives farmers to invest in advanced veterinary care to ensure optimal health and productivity of their livestock.

• The companion animal segment is expected to witness the fastest growth over the forecast period as there is an increasing demand for innovative veterinary care that prioritizes pet health and well-being.

• Based on route of administration, the injectable segment dominated the market owing to their several key advantages such as significantly faster results, which is critical in treating acute conditions and managing diseases in animals

• Based on distribution channel, the veterinary hospitals and clinics segment dominated the market as these facilities serve as primary points for the administration of vet medicines such as biologics, including vaccines and monoclonal antibodies, which are critical for preventing and treating diseases in animals

• In September 2022, Boehringer Ingelheim launched Fencovis, a new vaccine aimed at preventing calf scour caused by rotavirus, bovine coronavirus, and E. coli F5 (K99), with availability in the UK before the end of the year. This vaccine is designed for pregnant heifers and cows to stimulate antibody development, enhancing passive immunity in calves. Fencovis has shown effectiveness in preventing diarrhea and reducing viral shedding in infected calves.

UK Veterinary Medicine Market Segmentation

Grand View Research has segmented the UK veterinary medicine market based on the product, animal type, route of administration, and distribution channel:

UK Veterinary Medicine Product Outlook (Revenue, USD Million, 2018 - 2030)

• Biologics

  • Vaccines

    • Modified/ Attenuated Live

    • Inactivated (Killed)

    • Other Vaccines (subunit and DNA vaccines)

  • Other Biologics (monoclonal antibodies and regenerative medicine)

• Pharmaceuticals

  • Parasiticides

  • Anti-infectives

  • Anti-inflammatory

  • Analgesics

  • Others (cardiology, neurology, and hormone/fertility pharmaceuticals)

• Medicated Feed Additives

UK Veterinary Medicine Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

• Production Animals

  • Poultry

  • Pigs

  • Cattle

  • Sheep & Goats

  • Others (aquaculture/fish, mules, camel, etc)

• Companion Animals

  • Dogs

  • Cats

  • Horses

  • Others (small mammals, birds, rabbits, reptiles, etc)

UK Veterinary Medicine Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Oral

• Injectable

• Topical

• Other Routes (intranasal, controlled-release implants, etc)

UK Veterinary Medicine Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Veterinary Hospitals & Clinics

• E-commerce

• Offline Retail Stores

• Others

List of Key Players in the UK Veterinary Medicine Market

• Boehringer Ingelheim International GmbH.

• Norbrook

• Merck & Co., Inc.

• Elanco

• Bimeda, Inc.

• Zoetis UK Limited.

• Ceva

• BioZyme, Inc.

• Hill's Pet Nutrition, Inc.

• Decra