Animal Medication

Global Animal Medication Market to Reach US$45.9 Billion by 2030

The global market for Animal Medication estimated at US$35.1 Billion in the year 2024, is expected to reach US$45.9 Billion by 2030, growing at a CAGR of 4.5% over the analysis period 2024-2030. Companion Animals, one of the segments analyzed in the report, is expected to record a 4.8% CAGR and reach US$20.7 Billion by the end of the analysis period. Growth in the Cattle Farm Animals segment is estimated at 3.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$9.4 Billion While China is Forecast to Grow at 7.7% CAGR

The Animal Medication market in the U.S. is estimated at US$9.4 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.8 Billion by the year 2030 trailing a CAGR of 7.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.3% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.

Global Animal Medication Market - Key Trends and Drivers Summarized

Veterinary medicine is an essential field that extends far beyond the care of animals, touching on broader aspects of public health, food safety, and environmental protection. Veterinarians play a crucial role in the health management of both domestic and wild animals, performing a variety of tasks from routine examinations and vaccinations to more complex surgical procedures. The scope of veterinary medicine also encompasses significant public policy issues, emphasizing the veterinarians` unique qualification as doctors trained to protect the health of both animals and humans. Their expertise is crucial in managing the health of diverse animal species, tackling environmental challenges, and ensuring food safety through the control of zoonotic diseases, which are infectious diseases that can be transmitted from animals to humans.

The field of veterinary medicine significantly contributes to biomedical research, particularly in the development of new treatments and cures for diseases affecting both humans and animals. Veterinarians work collaboratively with scientists in various disciplines to advance medical science, ensuring ethical and effective use of animals in research and adhering to stringent regulatory standards. This interdisciplinary approach helps in the discovery of lifesaving therapies, underpinning the critical role of veterinary medicine in enhancing health across species. Moreover, veterinarians are instrumental in managing public health risks related to zoonotic diseases and bioterrorism, making their role indispensable in national security and disease outbreak prevention.

The global practice of veterinary medicine is influenced by several growth drivers, including advancements in veterinary diagnostics, which enhance the precision of treatments and the demand for advanced animal medications. Increased pet ownership and the humanization of pets have raised the standards of pet healthcare, mirroring human medical care practices and boosting the demand for specialized animal medications. Furthermore, the expansion of telemedicine in veterinary practices offers convenient access to health consultations and prescriptions, increasing the use of animal medications. Regulatory changes aimed at improving animal health standards are driving the development of compliant pharmaceutical offerings, while the growth in livestock production necessitates robust health management systems to maintain productivity. Additionally, the rising prevalence of zoonotic diseases has heightened the importance of effective animal health management strategies to prevent such diseases, promoting public health and safety. Collectively, these factors underscore the dynamic and evolving landscape of veterinary medicine, highlighting its increasing complexity and the growing recognition of its impact on broader health and environmental issues.

SCOPE OF STUDY:

The report analyzes the Animal Medication market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Category (Companion Animals, Cattle Farm Animals, Pigs Farm Animals, Other Categories); Product Type (Parasiticides, Vaccines, Anti-Infectives, Medicinal Feed Additives, Other Product Types)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 63 Featured) -

• Bayer AG
• Boehringer Ingelheim International GmbH
• Ceva Santé Animale S.A.
• Dechra Pharmaceuticals Plc.
• Eli Lilly and Company
• Merck Animal Health
• Vetericyn Inc.
• Vétoquinol SA
• Virbac SA
• Zoetis Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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