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Report
Veterinary Medicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-07-05 I 142 Pages I IMARC Group
Market Overview:
The global veterinary medicine market size reached US$ 33.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.
Veterinary medicine is a branch of science that deals in the prevention, control, diagnosis, and treatment of diseases that affect the health of domestic and wild animals. It helps maintain the health of food-producing animals, inhibit the transmission of zoonotic diseases from animal species to humans, and ensure a safe supply of food worldwide. At present, the escalating consumption of animal-derived products is increasing the adoption of veterinary medicines to monitor the health of agricultural animals and prevent human exposure to diseases.
Veterinary Medicine Market Trends:
The growing trend of nuclear families and inflating income levels have increased the overall spending of individuals on pets globally. This, in confluence with the rising concerns among pet parents about the well-being of their pets, represents one of the major factors supporting the demand for veterinary medicines. The increasing penetration of pet insurance is further influencing the market growth. Apart from this, the expanding animal husbandry activities, along with the escalating cases of zoonotic and chronic diseases among animals, are increasing the concerns about food safety. This, along with the increasing number of commercial animal-production programs, is promoting the adoption of veterinary medicines for better diagnosis and treatment for livestock. Moreover, the easy availability of advanced diagnostic imaging, novel therapies, nuclear and regenerative medicines, laser diagnostics, and specialized surgeries in numerous vet hospitals and clinics is bolstering the market growth. Furthermore, biomedical researchers are developing safe and effective vaccines to prevent pet diseases, which is anticipated to strengthen the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global veterinary medicine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, animal type, route of administration and distribution channel.
Breakup by Product:
Drugs
Anti-infective
Anti-inflammatory
Parasiticide
Vaccines
Inactivated Vaccines
Attenuated Vaccines
Recombinant Vaccines
Medicated Feed Additives
Amino Acids
Antibiotics
Breakup by Animal Type:
Production
Companion
Breakup by Route of Administration:
Oral
Parenteral
Topical
Breakup by Distribution Channel:
Veterinary Hospitals and Clinics
Point-of-Care Testing/In-house Testing
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Archer-Daniels-Midland Company, Boehringer Ingelheim GmbH, Cargill Incorporated, Ceva Sante Animale, Dechra Pharmaceuticals PLC, Elanco Animal Health Incorporated, Evonik Industries AG, Merck & Co. Inc., Neogen Corporation, Vetoquinol S.A., Virbac and Zoetis Inc.
Key Questions Answered in This Report
1. What was the size of the global veterinary medicine market in 2022?
2. What is the expected growth rate of the global veterinary medicine market during 2023-2028?
3. What are the key factors driving the global veterinary medicine market?
4. What has been the impact of COVID-19 on the global veterinary medicine market?
5. What is the breakup of the global veterinary medicine market based on the animal type?
6. What is the breakup of the global veterinary medicine market based on the route of administration?
7. What is the breakup of the global veterinary medicine market based on the distribution channel?
8. What are the key regions in the global veterinary medicine market?
9. Who are the key players/companies in the global veterinary medicine market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Veterinary Medicine Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Drugs
6.1.1 Market Trends
6.1.2 Key Segments
6.1.2.1 Anti-infective
6.1.2.2 Anti-inflammatory
6.1.2.3 Parasiticide
6.1.3 Market Forecast
6.2 Vaccines
6.2.1 Market Trends
6.2.2 Key Segments
6.2.2.1 Inactivated Vaccines
6.2.2.2 Attenuated Vaccines
6.2.2.3 Recombinant Vaccines
6.2.3 Market Forecast
6.3 Medicated Feed Additives
6.3.1 Market Trends
6.3.2 Key Segments
6.3.2.1 Amino Acids
6.3.2.2 Antibiotics
6.3.3 Market Forecast
7 Market Breakup by Animal Type
7.1 Production
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Companion
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Route of Administration
8.1 Oral
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Parenteral
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Topical
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Distribution Channel
9.1 Veterinary Hospitals and Clinics
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Point-of-Care Testing/In-house Testing
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Archer-Daniels-Midland Company
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 Boehringer Ingelheim GmbH
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 Cargill Incorporated
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 SWOT Analysis
15.3.4 Ceva Sante Animale
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 Dechra Pharmaceuticals PLC
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.6 Elanco Animal Health Incorporated
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.7 Evonik Industries AG
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.8 Merck & Co. Inc.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.9 Neogen Corporation
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Vetoquinol S.A.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.11 Virbac
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis
15.3.12 Zoetis Inc.
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 Financials
15.3.12.4 SWOT Analysis
Figure 1: Global: Veterinary Medicine Market: Major Drivers and Challenges
Figure 2: Global: Veterinary Medicine Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Veterinary Medicine Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Veterinary Medicine Market: Breakup by Product (in %), 2022
Figure 5: Global: Veterinary Medicine Market: Breakup by Animal Type (in %), 2022
Figure 6: Global: Veterinary Medicine Market: Breakup by Route of Administration (in %), 2022
Figure 7: Global: Veterinary Medicine Market: Breakup by Distribution Channel (in %), 2022
Figure 8: Global: Veterinary Medicine Market: Breakup by Region (in %), 2022
Figure 9: Global: Veterinary Medicine (Drugs) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Veterinary Medicine (Drugs) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Veterinary Medicine (Vaccines) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Veterinary Medicine (Vaccines) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Veterinary Medicine (Medicated Feed Additives) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Veterinary Medicine (Medicated Feed Additives) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Veterinary Medicine (Production) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Veterinary Medicine (Production) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Veterinary Medicine (Companion) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Veterinary Medicine (Companion) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Veterinary Medicine (Oral) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Veterinary Medicine (Oral) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Veterinary Medicine (Parenteral) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Veterinary Medicine (Parenteral) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Veterinary Medicine (Topical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Veterinary Medicine (Topical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Veterinary Medicine (Veterinary Hospitals and Clinics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Veterinary Medicine (Veterinary Hospitals and Clinics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Veterinary Medicine (Point-of-Care Testing/In-house Testing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Veterinary Medicine (Point-of-Care Testing/In-house Testing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Veterinary Medicine (Other Distribution Channels) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Veterinary Medicine (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: North America: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: North America: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: United States: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: United States: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Canada: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Canada: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Asia-Pacific: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Asia-Pacific: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: China: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: China: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Japan: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Japan: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: India: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: India: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: South Korea: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: South Korea: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Australia: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Australia: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Indonesia: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Indonesia: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Others: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Others: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Europe: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Europe: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Germany: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Germany: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: France: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: France: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: United Kingdom: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: United Kingdom: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Italy: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Italy: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Spain: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Spain: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Russia: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Russia: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Others: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Others: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Latin America: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Latin America: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Brazil: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Brazil: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Mexico: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Mexico: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Others: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Others: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Middle East and Africa: Veterinary Medicine Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Middle East and Africa: Veterinary Medicine Market: Breakup by Country (in %), 2022
Figure 79: Middle East and Africa: Veterinary Medicine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Global: Veterinary Medicine Industry: SWOT Analysis
Figure 81: Global: Veterinary Medicine Industry: Value Chain Analysis
Figure 82: Global: Veterinary Medicine Industry: Porter's Five Forces Analysis
Table 1: Global: Veterinary Medicine Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Veterinary Medicine Market Forecast: Breakup by Product (in Million US$), 2023-2028
Table 3: Global: Veterinary Medicine Market Forecast: Breakup by Animal Type (in Million US$), 2023-2028
Table 4: Global: Veterinary Medicine Market Forecast: Breakup by Route of Administration (in Million US$), 2023-2028
Table 5: Global: Veterinary Medicine Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 6: Global: Veterinary Medicine Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Veterinary Medicine Market: Competitive Structure
Table 8: Global: Veterinary Medicine Market: Key Players
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