Animal medicine, also known as veterinary medicine, is a branch of medicine specifically concerned with the prevention, control, diagnosis and treatment of diseases affecting the health of animals, including domestic, farm and wild animals. Veterinary pharmaceuticals or medicines may also be used for the prevention of transmission of animal diseases to humans. Animal medicines are used to treat infectious diseases, parasitic infestations, pathological conditions and to aid in nutrition and agricultural yield.
The global animal medicine market reached a value of nearly $50,451.03 million in 2024, having grown at a compound annual growth rate (CAGR) of 6.08% since 2019. The market is expected to grow from $50,451.03 million in 2024 to $68,835.48 million in 2029 at a rate of 6.41%. The market is then expected to grow at a CAGR of 7.25% from 2029 and reach $97,692.43 million in 2034.
Advancements In Vaccine Development And Combination Vaccines
Major companies in the bioprocessing technology market are focusing on advancements in vaccine development and combination vaccines to meet rising global health demands. These innovations require sophisticated bioprocessing techniques for efficient, scalable, and high-quality production. Combination vaccines, which protect against multiple diseases in a single dose, demand more complex formulation and purification processes. This drives the need for cutting-edge bioreactors, cell culture systems, and downstream processing technologies, thereby accelerating the growth of the bioprocessing sector. For example, in September 2025, Boehringer Ingelheim, a Germany-based pharmaceutical company, launched in the U.S., INGELVAC CIRCOFLEX AD is the first vaccine to combine both PCV2a and PCV2d antigens in a single dose designed for optimized herd health. Built on the industry-leading vaccine INGELVAC CIRCOFLEX from Boehringer Ingelheim, which has set the global standard for PCV2 protection for nearly 20 years, this new dual-antigen approach offers producers an additional option to protect their pigs and support long-term profitability.
The animal medicine market is segmented by type of prescription into OTC and prescription. The prescription market was the largest segment of the animal medicine market segmented by type of prescription, accounting for 74.19% or $37,428.71 million of the total in 2024. Going forward, the OTC segment is expected to be the fastest growing segment in the animal medicine market segmented by type of prescription, at a CAGR of 7.60% during 2024-2029.
The animal medicine market is segmented by type of prescription into OTC and prescription. The prescription market was the largest segment of the animal medicine market segmented by type of prescription, accounting for 74.19% or $37,428.71 million of the total in 2024. Going forward, the OTC segment is expected to be the fastest growing segment in the animal medicine market segmented by type of prescription, at a CAGR of 7.60% during 2024-2029.
The global animal medicine market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 54.52% of the total market in 2024.
Animal Medicine Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global animal medicine market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for animal medicine? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The animal medicine market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider animal medicine market; and compares it with other markets.
The report covers the following chapters
- Introduction And Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by medicine, by type of animal, by type of prescription, by route of administration and by distribution channel.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size And Growth- Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by medicine, by type of animal, by type of prescription, by route of administration and by distribution channel in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market
- Regional Market Size And Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for animal medicine providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Medicine: Veterinary Pharmaceuticals; Feed Additives
- 2) By Type Of Animal: Companion Animals; Livestock
- 3) By Type Of Prescription: OTC; Prescription
- 4) By Route Of Administration: Oral; Parenteral; Other Routes Of Administration
- 5) By Distribution Channel: Veterinary Services; Online; Others
- Companies Mentioned: Zoetis, Inc.; Boehringer Ingelheim GmbH; Elanco Animal Health Incorporated; Merck & Co., Inc.; Virbac Group
- Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Italy; Spain; Austria; Belgium; Denmark; Finland; Ireland; Netherlands; Norway; Portugal; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; animal medicine indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.