PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1916509
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1916509
The global veterinary therapeutics market size was valued at USD 47.25 billion in 2025 and is projected to grow to USD 49.65 billion in 2026, reaching USD 81.59 billion by 2034, registering a CAGR of 6.40% during the forecast period (2026-2034). North America dominated the global veterinary therapeutics market with a 40.02% market share in 2025, supported by high pet ownership rates, strong veterinary healthcare infrastructure, and advanced livestock farming practices.
Veterinary therapeutics includes drugs, vaccines, and medicated feed additives used for disease prevention, treatment, and productivity improvement in both companion and livestock animals. The market plays a critical role in controlling zoonotic diseases, maintaining food safety, and improving animal welfare.
Market Drivers
Rising pet ownership and increasing expenditure on animal health are primary drivers. In the U.S., pet ownership reached 59.8 million dogs and 42.2 million cats in 2024, with average annual household spending of USD 580 for dogs and USD 433 for cats, driving demand for preventive medicines and chronic disease treatments.
Growing livestock production to meet rising global protein demand also contributes to market expansion. According to the World Organization for Animal Health, 77.0% of global livestock is affected by foot-and-mouth disease, increasing demand for vaccines and early disease management. Rising cases of parasitic infections, bovine mastitis, canine parvovirus, and tick-borne diseases further elevate therapeutic demand.
Product launches continue to stimulate growth. In September 2024, Elanco received FDA approval for Zenrelia, a once-daily oral treatment for allergic dermatitis in dogs, reflecting increasing innovation in companion animal therapeutics.
Market Restraints
Product recalls due to adverse reactions and safety issues reduce consumer confidence. In June 2021, the U.K. Veterinary Medicines Directorate recalled Salmovac 400 vaccine produced by CEVA due to safety concerns. In December 2023, Australia recalled Triedlia Auslepto vaccine for dogs after reports of severe adverse reactions, including fatality. Such incidents impact brand reputation and regulatory scrutiny, restraining market growth.
Market Opportunities
R&D investment and regulatory approvals are generating growth opportunities. In April 2024, the FDA approved Pradalex injection for treating bovine and swine respiratory diseases, expanding livestock disease management options. Increased focus on advanced biologics and targeted therapies supports disease control with improved safety profiles.
Growing awareness among farmers and pet owners regarding preventive healthcare also increases adoption of vaccination programs and early diagnostics, expanding market potential across emerging economies.
Market Challenges
Antimicrobial resistance (AMR) presents a major challenge, particularly in low-income agricultural regions where antibiotic misuse is common. In September 2024, the World Organization for Animal Health estimated that antimicrobial resistance could increase global healthcare costs by USD 189.0 billion by 2025. Stricter antimicrobial regulations limit drug availability and affect livestock productivity, challenging therapeutic market growth.
Market Trends
Gene and cell therapies are emerging as innovative treatment approaches in veterinary medicine. In December 2024, Protect Animal Health partnered with Rejuvenate Bio to develop gene therapy PT-401 for treating mitral valve disease in dogs, indicating a shift toward personalized veterinary medicine.
Telemedicine adoption during COVID-19 also increased prescription access and monitoring of chronic conditions, further supporting therapeutic sales.
By Product
Veterinary drugs dominated with 64.87% share in 2026, driven by high disease prevalence and generic drug approvals. FDA approval of phenylpropanolamine chewable tablets in June 2024 for canine urinary incontinence further strengthened drug sales. Vaccines remain essential for infectious disease control, with new BRD vaccines under development. Medicated feed additives grow steadily to improve livestock productivity and feed efficiency.
By Animal Type
Companion animals accounted for 46.1% share in 2025, supported by rising pet ownership and preventive healthcare spending. Livestock dominated in 2026 due to increased protein demand and disease prevention programs, growing at 5.42% CAGR during 2025-2032.
By Route of Administration
Parenteral routes dominated in 2024 due to vaccine delivery and emergency treatments, supported by government vaccination programs. Oral therapeutics are expected to reach 47.23% share in 2026, driven by products such as Zenrelia tablets. Topical formulations grow due to rising dermatological conditions, while aerosol therapies expand moderately.
By Distribution Channel
Veterinary clinics dominated due to frequent pet checkups and outpatient services, growing at 6.14% CAGR during 2025-2032. Veterinary hospitals are expected to reach 40.99% share in 2026, supported by advanced diagnostic collaborations. Pharmacies grow through improved accessibility and in-clinic dispensing services.
North America generated USD 18.91 billion in 2025 and USD 20.10 billion in 2026, led by the U.S. reaching USD 18.93 billion in 2026. Europe reached USD 12.01 billion with strong government welfare programs and manufacturing capabilities. Asia Pacific is projected at USD 8.80 billion in 2026, driven by China (USD 1.53 billion), India (USD 1.57 billion), and Japan (USD 3.30 billion). Latin America reached USD 5.02 billion in 2025, while GCC markets reached USD 1.50 billion in 2025, supported by pharmacovigilance reforms and disease control programs.
Competitive Landscape
Major players including Zoetis, Merck Animal Health, Elanco, Boehringer Ingelheim, Ceva, Vetoquinol, and Virbac lead through product approvals and global expansion. Strategic acquisitions such as Phibro's acquisition of Zoetis' feed additive portfolio in April 2024 strengthen portfolio breadth. Continuous innovation and sustainability initiatives remain central to competitive strategies.
Report Coverage
The veterinary therapeutics market report provides a comprehensive analysis of the global industry with a detailed evaluation of market size and value for 2025, 2026, and 2034, along with the forecast growth trajectory at a CAGR of 6.40% during 2026-2034. The report examines key product categories including veterinary drugs, veterinary vaccines, and medicated feed additives, and evaluates their adoption across companion animals and livestock. It further analyzes the market by route of administration (oral, parenteral, topical, and aerosol) and distribution channels such as veterinary clinics, veterinary hospitals, pharmacies & drug stores, and others.
The study includes an in-depth assessment of market drivers, restraints, opportunities, challenges, and emerging trends, highlighting the impact of rising pet ownership, livestock disease burden, antimicrobial resistance, and the emergence of gene and cell therapies. Regional analysis covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with country-level insights for major markets including the U.S., U.K., Germany, France, China, India, and Japan, using verified market value data for 2025 and 2026. The report also profiles leading companies such as Zoetis, Merck Animal Health, Elanco, Boehringer Ingelheim, Ceva, Virbac, and Vetoquinol, and tracks recent product approvals, acquisitions, collaborations, and logistics expansions that influence competitive positioning. Additionally, the report evaluates the impact of COVID-19, regulatory trends, pharmacovigilance systems, and sustainability initiatives shaping long-term industry development.
Conclusion
The global veterinary therapeutics market is expanding steadily from USD 47.25 billion in 2025 to USD 49.65 billion in 2026, and is projected to reach USD 81.59 billion by 2034, supported by rising pet ownership, increasing livestock production, and heightened focus on zoonotic disease control and food safety. North America dominated with 40.02% market share in 2025, driven by high pet healthcare spending, strong veterinary infrastructure, and advanced farming technologies, while Asia Pacific and Latin America are gaining momentum due to expanding livestock sectors and improving veterinary access.
Product-wise, veterinary drugs dominate with 64.87% share in 2026, reflecting high treatment demand for infectious, parasitic, and chronic animal diseases, while vaccines remain critical for outbreak prevention and feed additives support productivity in commercial farming. Companion animals accounted for 46.1% share in 2025, but livestock leads in 2026 due to rising global protein consumption and stricter biosecurity practices. Although challenges such as antimicrobial resistance, product recalls, and regulatory tightening continue to affect adoption patterns, strong R&D pipelines, growing approvals for targeted biologics, and the emergence of gene and cell therapies are reshaping future treatment paradigms. Overall, sustained innovation, preventive healthcare adoption, and expanding veterinary infrastructure are expected to keep veterinary therapeutics a vital and growing segment of global animal health.
Segmentation By Product
By Route of Administration
By Distribution Channel
By Region
Figure 57: Global Veterinary Therapeutics Market Share (%), By Company, 2025