Pharmaceuticals Segment to Bolster Veterinary Healthcare Market Growth During 2025-2031

According to our new research study on "Veterinary Healthcare Market Forecast to 2031 - Global Analysis - Animal Type, Product Type, End User", the market was valued at US$ 93.49 billion in 2024 and is projected to reach US$ 156.53 billion by 2031; it is estimated to register a CAGR of 7.7% during 2025-2031. The report highlights trends prevailing in the market, and drivers and restraints pertaining to the market growth.

Technological advancements are transforming the veterinary healthcare landscape, presenting emerging trends that improve diagnosis, treatment, and animal care. Integration of artificial intelligence (AI) is transforming healthcare by revolutionizing diagnostics, treatment planning, and drug discovery. AI-driven diagnostic tools can analyze medical images such as X-rays and MRIs with greater accuracy. This capability leads to earlier and more precise diagnoses. In September 2022, SK Telecom Co., Ltd. announced the launch of X Caliber, an AI-based veterinary X-ray image diagnosis assistance service. X Caliber is a web-based service that employs AI to evaluate dog X-ray pictures that are submitted to the "X Caliber Vet AI" platform by veterinarians. The analysis results are sent back to the veterinarian in less than 30 seconds.

Advancements in drug delivery systems are improving treatment effectiveness. For example, nanoparticle formulations allow for targeted drug release, while long-acting injectables decrease the frequency of treatments. Transdermal patches offer a minimally invasive method of administration, enhancing patient comfort and compliance. Technological enhancements in the modes of vaccine delivery, including oral vaccines and needle-free injectors, are enhancing convenience and compliance among pet owners and livestock producers. For instance, the oral rabies vaccine of Boehringer Ingelheim has seen extensive usage within wildlife management initiatives, and such applications exemplify the prospects for new delivery methods.

Growing Initiatives for Animal Health Is Propelling the Growth of Veterinary Healthcare Market

Over the past decade, there has been a shift in people's perception of animal health as a means of ensuring animal welfare and as a critical factor in public health, food security, and economic stability. The Food and Agriculture Organization (FAO) emphasizes that healthy livestock are essential for sustainable food systems, driving the adoption of pharmaceuticals to prevent foot-and-mouth disease, brucellosis, and avian influenza.

Organizations, including the WHO and the WOAH have launched global awareness campaigns emphasizing the role of vaccination in controlling zoonotic diseases. The WHO's Global Strategic Plan to End Human Deaths from Dog-Mediated Rabies by 2030 boosts initiatives to promote vaccine adoption on a large scale. The increasing availability of information on animal health through digital platforms, veterinary organizations, and public campaigns is boosting the adoption of veterinary healthcare products, including pharmaceuticals and medical devices. The rise of social media and online resources has empowered pet owners and farmers to learn about the risks of preventable diseases, including zoonotic ones such as rabies and leptospirosis, which can be transmitted from animals to humans.

The Veterinary Healthcare market is segmented on the basis of animal type, product type, end user, and geography.

Based on animal type, the veterinary healthcare market is divided into companion, livestock, and poultry. The livestock and poultry segment held the largest share of the veterinary healthcare market in 2024.

By product type, the global veterinary healthcare market is segmented into pharmaceuticals, medical devices, and feed additives. The pharmaceuticals segment held the largest share of the veterinary healthcare market in 2024. The pharmaceuticals segment held the largest share of the veterinary healthcare market in 2024. The growing demand for veterinary pharmaceuticals has fuelled the introduction of innovations by market players in the veterinary healthcare market. In April 2023, MSD Animal Health announced that its Bovilis Intranasal RSP Live vaccine received a license for use in calves starting from the day of birth. This vaccine is designed to immunize calves against Bovine Respiratory Disease (BRD) caused by Bovine Respiratory Syncytial Virus (BRSV) and Parainfluenza Virus 3 (Pi3).

In April 2023, Vetnostrum launched six new veterinary products for livestock and companion animals. These products include Oestrufix Oral Solution, Depamycin Injection, and Tulamax Injection for the treatment of diseases in livestock, and Earton Otic Solution, Achebye Injection, and Pimotonic Tablet for companion animals. Market players are expanding their businesses to capitalize on the expanding veterinary healthcare. In 2023, Accord Healthcare, a pharmaceutical company in Europe, launched a new Animal Health division to improve services for veterinarians.

By end user, the global veterinary healthcare market is categorized into veterinary hospitals, clinics, and others. The veterinary hospitals segment held the largest share of the veterinary healthcare market in 2024.

In terms of geography, the Veterinary Healthcare market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). North America held the largest share of the Veterinary Healthcare Market in 2024. The North America Veterinary Healthcare market is segmented into the US, Canada, and Mexico. North America captured a significant share of the global market. The growth of the market is driven by factors such as the growing launch of Veterinary Healthcare from market players, the increasing government support to provide cost-effective healthcare services, the rising strategic developments by the veterinary healthcare players to enhance services, and a growing healthcare industry that demands frameworks and guidelines based on real-world data for their business models. Livestock groups provide consumers with different products and services, including meat, milk, eggs, fiber, and draught power. Viral infection among livestock, companion animals, and others is a critical aspect of animal health in the US. The viruses infecting the animals spread at a faster rate. Thus, immunizations of the animal from such viruses are of prime importance in animal healthcare in the country. Foot-and-mouth disease is a highly contagious viral disease that affects cloven-hoofed animals, such as cattle, pigs, sheep, and goats. While the US has been free of FMD for decades, outbreaks in other parts of the world, particularly in regions with close international trade and animal transport, present an ongoing risk.

Boehringer Ingelheim International GmbH, Zoetis Inc, Merck & Co Inc, Virbac SA, Biovac LTD, Neogen Corp, Elanco Animal Health Inc, HIPRA SA, Ceva Sant