Veterinary Pharmaceuticals Market worth USD 39.37 billion by 2031
The report "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" is projected to reach USD 39.37 billion by 2031, up from USD 28.98 billion in 2026, at a CAGR of 6.3% during the forecast period.
Browse 650 market data Tables and 320 Figures spread through 550 Pages and in-depth TOC on "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"
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The veterinary pharmaceuticals market is growing due to the rising number of pet owners, increased livestock production, and higher spending on animal healthcare. Demand for preventive drugs, vaccines, and long-acting drugs is rising, particularly in the pet market. The expansion of intensive farming and the growing focus on food safety are driving the adoption of drugs in the livestock market. Advances in biologics, monoclonal antibodies, and targeted therapies are broadening treatment options. Emerging markets in the Asia-Pacific and Latin America regions also offer significant growth opportunities, driven by improvements in veterinary infrastructure, expanding distribution channels, and rising awareness of disease management and productivity enhancement.
By product type, the drugs segment dominated the veterinary pharmaceuticals market in 2025 by market share.
In 2025, the drugs segment accounted for the largest share of the global veterinary pharmaceuticals market due to the high and recurring demand for anti-infectives, anti-parasitics, anti-inflammatory drugs, and dermatology therapeutics. Rising incidence of infectious and chronic conditions in companion animals, along with intensive livestock production, continues to drive prescription volumes. Compared to biologics, conventional drugs offer wider availability and cost efficiency, supporting large-scale adoption across developed and emerging markets.
Based on indication, the dermatological diseases segment is expected to register the highest CAGR during the forecast period in the veterinary pharmaceuticals market.
The dermatological conditions segment is projected to register the highest CAGR during the forecast period, driven by the rising incidence of atopic dermatitis, ectoparasitic infestations, and allergic skin disorders in companion animals. Increasing pet humanization and demand for advanced therapeutics, including monoclonal antibodies and long-acting anti-parasitics, are accelerating treatment uptake. Improved diagnostic awareness and the availability of premium dermatology drugs through veterinary hospitals and specialty clinics further support strong segment growth.
Key Market Players
Some of the prominent players operating in the Global Veterinary pharmaceuticals market include Zoetis Inc. (US), Merck Animal Health (US), Boehringer Ingelheim Animal Health (Germany), Elanco (US), Virbac (France), Ceva (France), Vetoquinol (France), Dechra Pharmaceuticals (UK), Norbrook (UK), Bimeda (Ireland), Hester Biosciences Limited (India), Indian Immunologicals Ltd. (India), Animalcare Group (UK), Kyoritsu Seiyaku (Japan), Calier (Spain).
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