Veterinary Medicine Market Trend Analysis by 2030

Veterinary medicine includes drugs such as anti-infectives and parasiticides that are provided to animals orally. Vaccines are also used in veterinary medicine to help immunity in animals against viral diseases such as equine influenza (EIV) and parainfluenza 3-respiratory syncytial virus. Medicated feed additives are mixed with animal feed to produce medicinal benefits in animals. Veterinary medicine is also used in a number of species, which includes companion animals such as dogs and cats along with livestock animals including cattle, pigs, and chickens

Animals like humans are vulnerable to many diseases such as bacte​​​​​​​ria, parasites, fungi, and viruses. Veterinary medicine aids agricultural animals and pets live longer and healthier lives. Growing the life expectancy of pets needs a better diet and the development of healthcare facilities. The increasing number of pets leads to a rise in chronic diseases.

Data Bridge Market Research analyses a growth rate in the veterinary medicine market in the forecast period 2023-2030. The expected CAGR of veterinary medicine market is tend to be around 6.90% in the mentioned forecast period. The market was valued at USD 24.97 billion in 2022 and would grow to USD 42.59 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

North America is dominating the market in the forecast period because of the wide presence of major market players and well-developed healthcare infrastructure in this region. In addition to this, the incidence of favourable government policies and growing initiatives to improve animal health will further propel the market's growth rate in this region.

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Asia-Pacific is considered to grow over the coming years because of the wide expansion of manufacturing facilities and vaccination for livestock animals.

Key players operating in the veterinary medicine market include:

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