Veterinary Pharmaceuticals Market Size, Growth, Share & Trends Analysis
Veterinary Pharmaceuticals Market by Product (Drugs, mAbs, Immunomodulators, Medicated Feed Additives), Route of Administration, Formulation Type, Indication, Animal Type (Companion, Livestock), Distribution Channel, End User—Global Forecast to 2031
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The global veterinary pharmaceuticals market, valued at USD 27.41 billion in 2025, stood at USD 28.98 billion in 2026 and is projected to advance at a resilient CAGR of 6.3% from 2026 to 2031, culminating in a forecasted valuation of USD 39.37 billion by the end of the period. The market growth is driven by rising pet ownership, increasing livestock production, and higher demand for disease management drugs. Expanding awareness of animal health, growing expenditure on companion animals, and advancements in anti-infectives, parasiticides, and dermatology treatments are further supporting steady market expansion across developed and emerging regions.
KEY TAKEAWAYS
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By RegionNorth America has accounted for the largest market share of 38.4% in 2025 in the veterinary pharmaceuticals market.
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By Product TypeMonoclonal antibodies segment is projected to witness the highest CAGR of 7.3% during the forecast period.
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By Route of AdministrationOral route of administration accounted for the largest market share of 48.2% in 2025.
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By Formulation TypeSolid formulation commanded 40.2% market share in 2025.
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By IndicationsDermatological diseases are expected to register the highest growth rate of 8.6% during the forecast period.
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By Animal TypeCompanion animals are projected to have the highest CAGR of 8.0% during the forecast period.
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By Distribution ChannelVeterinary hospital pharmacies has accounted for the largest share of 65.5% in the market.
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By End UsersVeterinary hospitals & clinics segment is projected to register the highest growth rate of 7.9% in this market.
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Competitive Landscape - Major PlayersZoetis Inc. (US) and Boehringer Ingelheim Animal Health (Germany) stand out as star players because of their strong regional footprint, established product portfolios, and consistent leadership in veterinary pharmaceutical products.
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Competitive Landscape - StartupsPhibro Animal Health Corporation (US) and Chanelle Pharma (Ireland) are emerging players due to expanding portfolios, broader global reach, and strong focus on niche and cost-effective veterinary therapeutics.
The market offers robust opportunities in emerging countries, where livestock numbers are increasing, and veterinary infrastructure is being developed. The rise in pet humanization in the Asia Pacific and Latin American regions is creating opportunities for high-quality drugs and treatments for chronic diseases. The development of e-commerce veterinary pharmacies and tele-veterinary care also contributes to the availability of drugs. Moreover, advancements in long-acting formulations, combination drugs, and species-specific drugs are creating new avenues for pharmaceutical companies.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
The veterinary pharmaceuticals market is undergoing a paradigm shift due to regulations related to antimicrobial resistance, the humanization of companion animals, and the need for productivity in farm animal production. Traditional antimicrobials and generics are slowly being replaced by innovative biologics, long-acting products, and precision medicines. This shift has created a new set of client needs, driving the development of preventive medicine and altering the animal health, farm economics, and public health infrastructure landscape.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
Level
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Rising companion animal ownership and pet humanization
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Increasing prevalence of infectious and dermatological diseases in animals
Level
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Growing concerns over antimicrobial resistance (AMR)
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Stringent regulatory approval processes for veterinary drugs
Level
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Rising demand for parasiticides and dermatology products
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Growth potential in rural and low-income regions
Level
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Monitoring drug residues in food-producing animals
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Balancing animal welfare, productivity, and compliance requirements
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Rising companion animal ownership and pet humanization
The steady rise in companion animal ownership, particularly in urban areas, is driving significant demand for veterinary pharmaceuticals. Pets are increasingly viewed as family members, leading to higher spending on preventive and therapeutic care. Owners are willing to invest in advanced treatments for chronic conditions such as dermatological disorders, arthritis, and infections. This humanization trend is expanding demand for premium, specialty, and long-term pharmaceutical products in the companion animal segment.
Restraint: Growing concerns over antimicrobial resistance (AMR)
The rising threat of antimicrobial resistance is restricting the use of antibiotics in veterinary practice, especially in food-producing animals. Regulatory authorities are tightening guidelines on antibiotic use to prevent cross-resistance that could affect human health. This limits routine prophylactic use and increases manufacturers' compliance costs. Additionally, reduced antibiotic consumption in livestock directly impacts revenue from anti-infective drug segments within the veterinary pharmaceuticals market.
Opportunity: Rising demand for parasiticides and dermatology products
Parasiticides and dermatology drugs represent a strong growth opportunity due to the high prevalence of ectoparasites, endoparasites, and skin disorders in both companion and livestock animals. Increasing awareness about preventive healthcare, tick and flea control, and zoonotic disease risks is boosting product adoption. Long-acting topical, oral, and combination therapies are gaining traction, creating expansion opportunities for manufacturers focused on innovative and broad-spectrum formulations.
Challenge: Monitoring drug residues in food-producing animals
Ensuring compliance with maximum residue limits (MRLs) in meat, milk, and eggs remains a major challenge for pharmaceutical manufacturers and livestock producers. Strict international trade regulations require rigorous monitoring of drug withdrawal periods and residue testing. Non-compliance can lead to export bans, recalls, and reputational damage. This increases the need for pharmacovigilance, traceability systems, and responsible drug administration practices in food-producing animal sectors.
VETERINARY PHARMACEUTICALS MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
|---|---|---|
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Develops and commercializes a broad portfolio of veterinary pharmaceuticals across anti-infectives, parasiticides, dermatology, pain management, and specialty care for companion and livestock animals. Utilizes long-acting formulations, chewable tablets, and injectable therapies to improve compliance. | Improves treatment adherence through palatable and extended-duration formulations, enhances animal welfare outcomes, supports herd productivity, and drives preventive care adoption in companion animals. |
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Provides integrated pharmaceutical solutions including anti-parasitics, anti-infectives, reproductive health drugs, and metabolic disorder treatments, supported by digital monitoring and herd management platforms. | Enables data-driven disease management, improves farm-level productivity, reduces economic losses from infectious diseases, and strengthens preventive health programs. |
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Focuses on innovative parasiticides, respiratory and enteric disease treatments, and specialty therapeutics for companion animals, backed by strong R&D and species-specific drug formulations. | Delivers high-efficacy treatments with strong safety profiles, enhances disease control in intensive livestock systems, and supports premium companion animal healthcare growth. |
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Offers diversified veterinary pharmaceuticals targeting dermatological diseases, parasitic infections, pain, and gastrointestinal disorders, with emphasis on sustainable production animal health solutions. | Promotes antimicrobial stewardship, improves livestock feed efficiency, enhances dermatology treatment outcomes in pets, and aligns with tightening regulatory standards. |
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Specializes in dermatology, parasiticides, dental-related pharmaceuticals, and reproductive health treatments for companion and production animals. | Captures high-growth dermatology and parasiticide segments, improves owner compliance via convenient dosage forms, and expands access to advanced veterinary therapeutics globally. |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The ecosystem for the veterinary pharmaceuticals market includes global animal health firms, generic pharmaceutical firms, contract research and manufacturing organizations (CRO/CMOs), veterinary hospitals and clinics, animal producers, and government institutions. The development stage is fueled by R&D and species-specific formulations, while the commercialization stage is fueled by robust distribution channels and veterinary partnerships. Government regulations, antimicrobial use, and pet ownership are market drivers.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
By Product Type
The monoclonal antibodies segment is expected to register the highest growth in the veterinary pharmaceuticals market. This is due to the increasing demand for targeted and long-acting therapies, especially in the pet segment. The rising incidence of chronic diseases such as atopic dermatitis, osteoarthritis pain, and inflammatory conditions is driving the demand for mAbs. They offer high specificity, reduced side effects, and improved patient compliance, thanks to the extended dosing interval. Heavy R&D spending, a strong biologics pipeline, and the premiumization of pet healthcare are further fueling this segment's growth.
By Indications
The dermatological conditions segment is expected to dominate the global veterinary pharmaceuticals market by market share in 2025, driven by the high prevalence of skin disorders in both companion and production animals. Conditions such as atopic dermatitis, parasitic infestations, fungal infections, and bacterial skin diseases are frequently diagnosed and require long-term treatment. Rising pet ownership, increasing awareness of animal hygiene, and growing demand for anti-parasitic, antifungal, and anti-inflammatory therapies are key factors supporting the segment’s leading position.
REGION
By Region
North America accounted for the largest share of the global veterinary pharmaceuticals market in 2025, supported by high pet ownership and strong spending on animal healthcare. The region benefits from advanced veterinary infrastructure, widespread insurance coverage for companion animals, and early adoption of premium therapeutics, including biologics and specialty drugs. In addition, the presence of major animal health companies, strong R&D activity, and stringent disease-control programs in livestock production further reinforce the region's market dominance.
VETERINARY PHARMACEUTICALS MARKET: COMPANY EVALUATION MATRIX
In the company evaluation matrix, Zoetis is positioned as a star player due to its strong global presence, broad pharmaceutical portfolio, and sustained investment in R&D and lifecycle management. The company demonstrates high revenue share, diversified species coverage, and consistent innovation across therapeutic areas. In contrast, Bimeda is categorized as an emerging player, reflecting its expanding geographic footprint, focused product strategy, and growing presence in generics and niche animal health segments.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- Zoetis Inc. (U.S.)
- Merck Animal Health (U.S.)
- Boehringer Ingelheim Animal Health (Germany)
- Elanco (U.S.)
- Virbac (France)
- Ceva (France)
- Vetoquinol (France)
- Dechra Pharmaceuticals (U.K.)
- Norbrook (U.K.)
- Bimeda (Ireland)
- Hester Biosciences Limited (India)
- Indian Immunologicals Ltd. (India)
- Animalcare Group (U.K.)
- Kyoritsu Seiyaku (Japan)
- Calier (Spain)
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size in 2025 (Value) | USD 27.41 BN |
| Market Size in 2031 (Value) | USD 39.37 BN |
| CAGR | 6.3% |
| Years Considered | 2024–2031 |
| Base Year | 2025 |
| Forecast Period | 2026–2031 |
| Units Considered | Value (USD Bn/Mn), Volume (Thousands Unit) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | By Product Type: Drugs (Anti-Bacterial Drugs, Anti-Fungal Drugs, Anti-Viral Drugs, Anti-Inflammatory Drugs, Anti-Parasitic Drugs, Anticancer Drugs, Cardiovascular And Renal Drugs, Gastrointestinal Drugs, Other Drugs), Monoclonal Antibodies, Immunomodulators, Medicated Feed Additives (Amino Acids, Enzymes, Minerals And Vitamins) I By Route of Administration: Oral, Parenteral, Topical, Other Route Of Administration I By Formulation Type: Solid, Liquid, Semi-Solid, Aerosol, Premix Formulations I By Indications: Infectious Diseases, Dermatological Diseases, Pain Management, Cardiovascular And Renal Diseases, Gastrointestinal Diseases, Other Indications I By Animals: Companion Animals (Dogs, Cats, Horses, Other Companion Animals), Livestock Animals (Cattle, Swine, Poultry, Other Livestock Animals) I By Distribution Challen: Veterinary Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies, Direct Sales I By End Users: Veterinary Hospitals & Clinics, Livestock Farms, Home Care Settings, Other End Users |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
WHAT IS IN IT FOR YOU: VETERINARY PHARMACEUTICALS MARKET REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
|---|---|---|
| Product Analysis | Assessed key veterinary drug categories including anti-infectives, parasiticides (endo- and ecto-), dermatology drugs, NSAIDs, hormonal products, and feed additives. Evaluated dosage forms such as oral, injectable, topical, and medicated feed. Analyzed product performance, regulatory pathways, withdrawal periods, and innovation trends across companion and livestock segments. | Helped clients prioritize high-growth therapeutic areas such as dermatology and parasiticides. Supported lifecycle planning for generic and branded products. Identified long-acting formulations and combination therapies gaining traction in companion and production animal markets. |
| Company Information | Profiled major global and regional veterinary pharmaceutical players, covering portfolios, manufacturing footprint, distribution networks, and R&D focus. Assessed strengths in companion animal and livestock therapeutics, including parasiticides and anti-infectives. Reviewed partnerships, acquisitions, and pipeline developments shaping competitive positioning. | Enabled benchmarking of competitive positioning across therapeutic categories and regions. Supported identification of licensing, contract manufacturing, and co-marketing opportunities. Strengthened go-to-market and expansion strategies in regulated and emerging veterinary markets. |
| Geographic Analysis | Examined veterinary pharmaceutical demand across North America, Europe, Asia-Pacific, and Latin America. Analyzed regulatory frameworks, antimicrobial stewardship policies, livestock demographics, pet ownership growth, and veterinary care infrastructure. Included reimbursement, pricing dynamics, and country-level customization where required. | Supported strategic market entry by identifying high-growth countries and species-specific demand pockets. Helped assess the impact of AMR regulations, residue monitoring norms, and pet humanization trends on long-term revenue potential. |
RECENT DEVELOPMENTS
- October 2025 : Zoetis (US) received approval in Canada for Leniva, a long-acting monoclonal antibody for canine osteoarthritis pain. Administered once every three months, the product strengthens Zoetis’ companion animal pain portfolio and supports demand for durable biologic therapies in veterinary medicine
- July 2025 : Merck & Co. Inc. (US) obtained U.S. FDA approval for BRAVECTO QUANTUM, a once-yearly injectable parasiticide for dogs targeting fleas and ticks. The extended-duration therapy improves treatment compliance and reinforces Merck’s leadership in preventive parasiticides for companion animals
- July 2024 : Merck & Co. Inc. (US) completed the USD 1.29 billion acquisition of Elanco’s aquaculture business. The deal added vaccines, medicines, and nutritional products for aquatic species, expanding Merck’s footprint in aquaculture and strengthening its diversified livestock health portfolio
- September 2024 : Boehringer Ingelheim (Germany) acquired Saiba Animal Health AG (Switzerland) to enhance its pet therapeutics pipeline. The acquisition added novel chronic disease vaccine technologies, strengthening its biologics research capabilities and supporting innovation in advanced treatments for companion animals
Table of Contents
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Methodology
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Secondary Research
This research study involved the usage of comprehensive secondary sources, directories, databases such as Bloomberg Business, Factiva, and Dun & Bradstreet, white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for an extensive, technical, market-oriented, and commercial study of the Veterinary Pharmaceuticals Market. It was also used to obtain important information about the key players, market classification, and segmentation according to industry trends to the bottommost level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include project/sales/marketing/business development managers, presidents, CEOs, vice presidents, chairpersons, chief operating officers, chief strategy officers, directors, chief information officers, and chief medical information officers related to the Veterinary Pharmaceuticals Markets. Primary sources from the demand side include healthcare professionals from hospitals, ambulatory surgical centers, long-term care facilities, diagnostic imaging centers, outpatient clinics, and other end users.
A breakdown of the primary respondents is provided below:
Note 1: C-level primaries include CEOs, COOs, CTOs, and VPs.
Note 2: Other Designations include sales managers, marketing managers, and product managers.
Note 3: Tiers are defined based on a company’s total revenue as of 2024: Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The total size of the veterinary pharmaceuticals market was determined through data triangulation across three approaches, as outlined below. After each approach, the weighted average of the three was calculated based on the level of assumptions used in each.
Veterinary Pharmaceuticals Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the market size, the total market was divided into several segments and subsegments. To complete the overall market engineering process and obtain exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed where applicable. The following figure shows the market validation, source structure, and data triangulation methodology implemented in the market engineering process.
Market Definition
The veterinary pharmaceuticals market comprises medicinal products used to prevent, control, and treat diseases in animals, excluding vaccines. It includes therapeutic drug classes such as anti-infectives (antibacterials, antivirals, antifungals, antiparasitic), anti-inflammatory drugs, hormonal therapies, dermatological drugs, cardiovascular drugs, gastrointestinal agents, and other prescription and over-the-counter pharmaceuticals. These products address indications including infectious diseases, dermatological disorders, reproductive health, metabolic diseases, and pain management, among others. The market covers both companion and livestock animals and is supplied through veterinary hospitals, clinics, pharmacies, and animal health distribution channels globally.
Key Stakeholders
- Veterinary Pharmaceutical Manufacturers (Branded & Generic Drug Manufacturers)
- Veterinary Generic Drug Manufacturers
- Veterinary Compounding Pharmacies
- Veterinary Contract Manufacturing Organizations (CMOs)
- Active Pharmaceutical Ingredient (API) Suppliers for Animal Health
- Veterinary Hospitals and Specialty Veterinary Clinics
- General Veterinary Practitioners
- Livestock Farm Owners and Commercial Farm Operators
- Companion Animal Owners (Pet Owners)
- Veterinary Group Purchasing Organizations (GPOs)
- Animal Health Distributors and Wholesalers
- Veterinary Pharmacy Chains (Retail & Online)
- E-Pharmacy Platforms for Animal Medicines
- Regulatory Authorities (e.g., FDA-CVM, EMA, CDSCO, VMD)
- Animal Health Contract Research Organizations (CROs)
- Academic and Veterinary Research Institutes
- Animal Health Insurance Providers (Pet Insurance Companies)
- Feedlot and Integrated Livestock Production Companies
- Animal Welfare Organizations
Report Objectives
- To define, describe, and forecast the veterinary pharmaceuticals market, product type, route of administration, formulation type, indication, animal type, distribution channel, end user, and region
- To provide detailed information about the key factors influencing market growth, such as drivers, restraints, opportunities, challenges, and industry trends
- To strategically analyze the regulatory scenario, value chain analysis, supply chain analysis, Porter’s Five Forces analysis, ecosystem analysis, trade analysis, pricing analysis,
- patent analysis, impact of AI, trends/disruption impacting customers’ business in the market, and the impact of the 2025 US tariff on the market.
- To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall veterinary pharmaceuticals market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To strategically profile the key players in this market and comprehensively analyze their market shares and core competencies.
- To strategically analyze the veterinary pharmaceuticals market in five regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
- To track and analyze competitive developments such as product launches and approvals, acquisitions, partnerships, collaborations, and expansions in the veterinary pharmaceuticals market
Available customizations:
- Based on the given market data, MarketsandMarkets offers customizations tailored to your company’s specific needs. The following customization options are available for the report:
Competitive Landscape Assesment
- Market share analysis for the North America and Europe region, which provides market shares of the top 3–5 key players in the veterinary pharmaceuticals market
- Competitive leadership mapping for established players in the US
Regional Analysis
- Further breakdown of the Rest of European veterinary pharmaceuticals market into Austria, Finland, the Netherlands, Switzerland, and others
- Further breakdown of the Rest of Latin American veterinary pharmaceuticals market into Argentina, Colombia, Chile, and others
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
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Growth opportunities and latent adjacency in Veterinary Pharmaceuticals Market