Veterinary Medicine Market Size to Hit USD 98.51 Billion by 2033, Growing at a CAGR of 8.11% - SNS Insider

the global veterinary medicine market growth is driven by rising prevalence of zoonotic diseases, increasing pet adoption, and growing demand for preventive animal healthcare.

Austin, Texas, Dec. 20, 2025 (GLOBE NEWSWIRE) -- Veterinary Medicine Market Size & Growth Analysis:

According to SNS Insider, the Veterinary Drug Market size is estimated at USD 52.91 billion in 2025 and is projected to grow at a CAGR of 8.11% during the forecast period 2026–2033 to reach USD 98.51 billion by 2033.

The major factors driving the market growth are increasing awareness about animal health, increasing expenditure on pets, and increasing livestock production to meet global food demand. The increasing prevalence of zoonotic and chronic diseases in animals, increasing adoption of pets in urban areas, and increasing need for preventive treatments are driving the demand for veterinary drugs, vaccines, and diagnostic services. Advances in biotechnology, improved diagnostic tools, and the use of digital technology have increased treatment effectiveness. Also, government initiatives and the rise of online veterinary pharmacies are fueling the market expansion.

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The U.S. veterinary drug market is estimated at USD 15.76 billion in 2025 and is projected to grow at a CAGR of 7.61% during 2026–2033 to reach USD 28.27 billion by 2033. The market in the US is growing due to increasing pet ownership rates, rising healthcare spending, and advanced diagnostic and treatment infrastructure.

Major Players Analysis Listed in the Veterinary Medicine Market Report are

• Zoetis Inc.
• Merck KGaA & Co., Inc. (Animal Health division)
• Boehringer Ingelheim International GmbH (Animal Health)
• Elanco Animal Health Inc .
• Ceva Santé Animale
• Virbac S.A.
• Dechra Pharmaceuticals PLC
• IDEXX Laboratories, Inc.
• Phibro Animal Health Corporation
• Vetoquinol S.A.
• Neogen Corporation
• Bimeda Holdings PLC
• Biogénesis Bagó
• Hester Biosciences Ltd.
• Norbrook Laboratories Ltd.
• Ouro Fino Saúde Animal
• Krka d.d.
• AnimalCare Group plc
• SeQuent Scientific Ltd.
• Kemin Industries, Inc.

Veterinary Medicine Market Report Scope

Segmentation Insights:

By Product Type

Drugs dominated with 48.46% market share in 2025 due to widespread use in treating infections, pain, and chronic conditions in both companion and livestock animals. Diagnostic Products is expected to grow at the fastest CAGR of 9.90% from 2026 to 2033 driven by increasing adoption of advanced diagnostic tools, growing awareness of early disease detection, and the integration of AI and digital imaging technologies in veterinary diagnostic practices.

By Animal Type

Companion Animals (Dogs, Cats, Horses) dominated the market with 51.57% share in 2025 and is also expected to grow at the fastest CAGR of 8.55% during 2026-2033. The segment’s growth is driven by the rising pet ownership, increasing spending on pet healthcare, and greater focus on preventive care.

By Route of Administration

Oral segment dominated the market with 46.87% share in 2025 due to its convenience, ease of dosing, and high compliance among pet owners and livestock handlers. Others segment is expected to grow at the fastest CAGR of 10.77% from 2026 to 2033 driven by advancements in precision drug delivery, long-acting formulations, and rising adoption of non-invasive methods that improve treatment efficacy and animal comfort.

By Distribution Channel

Veterinary Hospitals & Clinics dominated with 54.43% in 2025 due to its convenience, ease of dosing, and high compliance among pet owners and livestock handlers. Online Stores is expected to grow at the fastest CAGR of 9.47% from 2026 to 2033 driven by increasing e-commerce adoption, convenience of home delivery, rising digital literacy among pet owners, and expanding access to veterinary medicines in urban and remote regions.

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Key Veterinary Medicine Market Segments

By Product Type

• Drugs
• Vaccines
• Medicated Feed Additives
• Diagnostic Products

By Animal Type

• Companion Animals (Dogs, Cats, Horses)
• Livestock Animals (Cattle, Poultry, Swine, Sheep & Goats)

By Route of Administration

• Oral
• Parenteral
• Topical
• Others (Inhalation, Transdermal, etc.)

By Distribution Channel

• Veterinary Hospitals & Clinics
• Retail Pharmacies
• Online Stores
• Wholesale Distributors

Regional Insights:

In 2025E, North America is expected to dominate the global veterinary medicine market with an estimated 38.56% share, driven by a large companion animal population, high pet healthcare expenditure, and advanced veterinary infrastructure.   

The Asia Pacific veterinary medicine market is expected to grow at the fastest CAGR of 9.03% over 2026-2033, driven by rising livestock production, increasing pet ownership, and growing awareness of animal health.  

Recent Developments:

• In December 2024, Zoetis announced the global launch of Vetscan OptiCell™, a screenless, cartridge‑based hematology analyzer for veterinary use at the VMX 2025 event. It uses viscoelastic focusing and AI for rapid in‑clinic diagnostics.
• In February 2025, Merck KGaA Animal Health completed the acquisition of the aqua‑business of Elanco Animal Health Incorporated, strengthening its aquaculture portfolio with fish vaccines, anti‑parasitic treatments and nutrition for aquaculture.

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Exclusive Sections of the Report (The USPs):

• PRODUCT DEVELOPMENT & INNOVATION INTENSITY METRICS – helps you assess the pace of innovation by tracking the number of new veterinary drug and vaccine approvals, manufacturer focus on advanced biologics and recombinant vaccines, and R&D allocation toward species-specific formulations.
• CLINICAL EFFICACY & REGULATORY TIMELINE BENCHMARKS – helps you evaluate product competitiveness through clinical approval timelines, reported efficacy rates across major disease segments, and the share of medicines with multi-species therapeutic applicability.
• R&D INVESTMENT & PIPELINE STRENGTH INDICATORS – helps you understand long-term growth potential by analyzing R&D expenditure intensity and innovation focus areas shaping future veterinary medicine pipelines.
• PRICING, REVENUE & SEGMENT PERFORMANCE INSIGHTS – helps you compare average selling prices across drugs, vaccines, and diagnostics, while highlighting revenue growth differences between companion animal and livestock segments.
• MARKET SHARE & COMPETITIVE POSITIONING ANALYSIS – helps you gauge the competitive strength of leading global players using market share data, growth momentum, and portfolio breadth across therapeutic categories.
• SUPPLY CHAIN & DISTRIBUTION EFFICIENCY METRICS – helps you identify distribution effectiveness and risk exposure by analyzing online versus retail pharmacy penetration, delivery timelines, and stockout or supply shortage rates in key markets.

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Table of Contents

1. Introduction
2. Executive Summary
3. Market Overview
4. Statistical Insights & Trends Reporting
5. Veterinary Medicine Market Segmental Analysis & Forecast, By Product Type, 2021 – 2032, Value (USD Billion)
6. Veterinary Medicine Market Segmental Analysis & Forecast, By Animal Type, 2021 – 2032, Value (USD Billion)
7. Veterinary Medicine Market Segmental Analysis & Forecast, By Route of Administration, 2021 – 2032, Value (USD Billion)
8. Veterinary Medicine Market Segmental Analysis & Forecast, By Distribution Channel, 2021 – 2032, Value (USD Billion)
9. Veterinary Medicine Market Segmental Analysis & Forecast By Region, 2021 – 2025, Value (USD Billion)
10. Competitive Landscape
11. Analyst Recommendations
12. Assumptions
13. Disclaimer
14. Appendix

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