Veterinary Pharmaceuticals Market

The veterinary pharmaceuticals market is projected to reach USD 39.37 billion by 2031 from USD 28.98 billion in 2026 at  a CAGR of  6.3% during the forecast period.

The veterinary pharmaceuticals market is growing due to rising pet ownership, increased livestock production, and higher spending on animal health. Demand for preventive care, vaccines, and long-acting therapeutics is expanding, particularly among companion animals. Growth in intensive farming and a focus on food safety are driving the adoption of livestock drugs. Technological advances in biologics, monoclonal antibodies, and targeted therapies are creating new treatment options. Emerging markets in Asia-Pacific and Latin America offer strong opportunities, driven by improving veterinary infrastructure, expanding distribution networks, and greater awareness of animal disease management and productivity enhancement.

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Some of the prominent players operating in the 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).

• In 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.
• In July 2025, Merck & Co. Inc. (US) obtained US 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.
• In 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.
• In 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

Zoetis Inc. (US)

Zoetis Inc. is a global animal health company focused on developing, manufacturing, and commercializing medicines, vaccines, diagnostics, and related technologies for companion animals and livestock. With more than 70 years of expertise in veterinary pharmaceuticals, the company offers products in anti-infectives, parasiticides, pain management, and other therapeutic areas. It operates through Companion Animal and Livestock segments, serving prevention and treatment needs across species. Zoetis has a strong international footprint, with products sold in over 100 countries. Multiple subsidiaries across North America, Europe, the Asia Pacific, and other regions support its global operations.

Merck & Co., Inc. (US)

Merck & Co., Inc. operates a dedicated Animal Health division that offers a broad portfolio of veterinary pharmaceuticals, vaccines, biologics, and health management solutions for companion and farm animals. The division is organized into Livestock and Companion Animal segments and operates as MSD Animal Health outside the U.S. and Canada. Merck Animal Health supports veterinarians, livestock producers, and pet owners with preventive and therapeutic products. The company maintains a presence in more than 140 countries, supported by 25 manufacturing facilities and 16 research centers worldwide, reflecting its strong global R&D and production capabilities.

Boehringer Ingelheim International GmbH (Germany)

Boehringer Ingelheim International GmbH is a global pharmaceutical company with operations spanning Human Pharma and Animal Health. Its Animal Health portfolio includes biological and pharmaceutical products for companion and food-producing animals, covering parasiticides and other veterinary therapeutics. The company distributes animal health products through its dedicated Animal Health business segment and specialized subsidiaries. With an extensive global network of subsidiaries across Europe, the Americas, and the Asia Pacific, Boehringer Ingelheim maintains a strong international presence. Its broad product portfolio and established infrastructure position it as a key player in the global animal health market.

Market Ranking

These companies hold leading positions in the veterinary pharmaceuticals market due to scale, diversified portfolios, and strong global distribution networks. Zoetis benefits from its focused animal health strategy and a broad range of companion and livestock products. Merck Animal Health leverages robust R&D capabilities and integrated vaccine and pharmaceutical offerings. Boehringer Ingelheim Animal Health strengthens its position through innovation in biologics and parasiticides. Elanco gains an advantage from strategic acquisitions and its diverse products portfolio. Virbac maintains competitiveness through specialization in companion animal therapeutics and a strong presence in Europe and emerging markets.

Related Reports:

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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