How Big is the Veterinary Medicine Market | Industry Trends & Forecast 2025

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Code: MTA9760

Publication Date: Oct 2025

What is the size of Veterinary Medicine Market?

According to 6Wresearch internal database and industry insights, the Global Veterinary Medicine Market was valued at USD 42 Billion in 2024 and is expected to reach USD 64 Billion by 2031, growing at a compound annual growth rate of 6.70% during the forecast period (2025-2031).

There are numbers of factors which are contributing in the expansion of the market include rising pet ownership, increasing demand for livestock healthcare, advancements in animal drug formulations, and supportive government policies promoting animal welfare.

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Key Growth Drivers of the Veterinary Medicine Market

Rising adoption of companion animals and pet healthcare expenditure
Growing investments in livestock disease prevention and treatment
Increasing prevalence of zoonotic and chronic diseases in animals
Expanding R&D in veterinary pharmaceuticals and biotechnology
Supportive regulations for animal health and veterinary practices

Veterinary Medicine Market Trends

Veterinary Medicine Market is witnessing major growth with notable trends such as increasing focus on preventive healthcare and wellness products for pets. The market is integrating digital tools like telemedicine, wearables, and smart diagnostics in veterinary practices. There is a significant rise in personalized and precision veterinary treatments for companion animals.

Increasing awareness about nutraceuticals and alternative therapies is gaining traction. The growth of online stores for veterinary products is changing how things are distributed. Veterinary vaccines and biologics are getting more attention to help stop the spread of infectious diseases. Also, advanced diagnostic technologies and point-of-care testing are speeding up the use of these tools in clinics and on farms.

Emerging Developments in the Veterinary Medicine Market

Veterinary Medicine Market is evolving with breakthroughs in biotechnology-driven therapies such as monoclonal antibodies and regenerative medicines. Increasing amount of money is going into research and development of long-acting formulations and combination therapies. More pharmaceutical companies are working together with veterinary healthcare providers.

There are also new drug delivery systems for animals on the market. Scientists are still working on making better vaccines that can protect against new animal diseases. More people are using tele-veterinary platforms and AI-based diagnostic tools. Further, rising emphasis on sustainable livestock management and eco-friendly veterinary products is supporting industry growth.