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U.S. Veterinary Medicine Market Size, Share & Trends Analysis Report By Product (Biologics, Pharmaceuticals), By Animal Type, By Route Of Administration, By Distribution Channel, And Segment Forecasts, 2024 - 2030

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    Report

  • 70 Pages
  • February 2024
  • Region: United States
  • Grand View Research
  • ID: 5943908
Description Jump to:
The U.S. veterinary medicine market size is anticipated to reach USD 21.80 billion by 2030 and is projected to grow at a CAGR of 6.8% from 2024 to 2030. The rising incidence rates of zoonotic diseases, increased livestock population, growing focus on preventive care, advancements in pet medicine and increasing pet ownership are the major factors contributing to the market growth. According to the March 2023 report released by the American Pet Products Association (APPA), dogs are the most popular pets in the U.S., with 65.1 million households owning a dog. Cats come in second with 46.5 million households, followed by freshwater fish with 11.1 million households.

The livestock population has grown significantly, leading to an increase in zoonotic diseases and chronic diseases. This has led to a growing emphasis on preventive healthcare measures to maintain the health and productivity of animals. Moreover, advancements in technology have revolutionized veterinary medicine by enhancing diagnostic capabilities, treatment options, and medical devices, thereby improving the quality of animal care.

U.S. Veterinary Medicine Market Report Highlights

  • Based on products, the pharmaceuticals segment led the market with the largest revenue share of 67.6% in 2023, owing to growing investments in research and development and advancements in the field of medicine
  • Based on the animal type, the production animals segment held the market with largest revenue share of 58.5% in 2023, due to an increasing demand for animal protein due to population growth and globalization of livestock production. Companion animals in animal type segment are anticipated to witness fastest CAGR over the forecast period
  • Based on route of administration, the injectable segment dominated the market in 2023 and oral segment is anticipated to witness a significant growth in CAGR over the forecast period, owing to an increasing pet ownership and focus on preventive healthcare
  • Based on distribution channel, the veterinary hospitals & clinics segment held the majority of the market share in 2023 and e-commerce segment is expected to grow at the fastest CAGR over forecast period
  • In February 2024, Merck & Co., Inc. announced the signing of a definitive agreement to acquire the aqua business of Elanco, which includes an innovative portfolio of medications and vaccines, food, and supplements for aquatic animals

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Product
1.2.2. Animal type
1.2.3. Route of administration
1.2.4. Distribution channel
1.2.5. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Purchased database
1.4.2. Internal database
1.4.3. Secondary sources
1.4.4. Primary research
1.4.5. Details of primary research
1.4.5.1. Data for primary interviews in North America
1.5. Information or Data Analysis
1.5.1. Data analysis models
1.6. Market Formulation & Validation
1.7. Model Details
1.7.1. Commodity flow analysis (Model 1)
1.7.2. Volume price analysis (Model 2)
1.8. List of Secondary Sources
1.9. List of Primary Sources
1.10. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Product outlook
2.2.2. Animal type outlook
2.2.3. Route of administration outlook
2.2.4. Distribution channel outlook
2.3. Competitive Insights
Chapter 3. U.S. Veterinary Medicine Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increasing pet ownership
3.2.1.2. Rising incidences of zoonotic diseases
3.2.1.3. Advancements in pet medicine
3.2.1.4. Growing focus on preventive care.
3.2.2. Market restraint analysis
3.2.2.1. Stringent regulations & approvals
3.2.2.2. Rising costs associated with animal healthcare
3.3. U.S. Veterinary Medicine Market Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Supplier power
3.3.1.2. Buyer power
3.3.1.3. Substitution threat
3.3.1.4. Threat of new entrant
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Technological landscape
3.3.2.3. Economic landscape
3.3.2.4. Social landscape
3.3.2.5. Legal landscape
3.3.2.6. Environmental landscape
Chapter 4. U.S. Veterinary Medicine Market: Product Estimates & Trend Analysis
4.1. Product Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. U.S. Veterinary Medicine Market by Product Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.4.1. Biologics
4.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.1.1.1. Vaccines
4.4.1.1.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.1.1.1.1.1. Modified/ Attenuated live
4.4.1.1.1.1.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.1.1.1.1.2. Inactivated (Killed)
4.4.1.1.1.1.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.1.1.1.1.3. Other vaccines
4.4.1.1.1.1.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.1.1.2. Other biologics
4.4.1.1.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.2. Pharmaceuticals
4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.2.1.1. Parasiticides
4.4.2.1.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.2.1.2. Anti-infectives
4.4.2.1.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.2.1.3. Anti-inflammatory
4.4.2.1.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.2.1.4. Analgesics
4.4.2.1.4.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.2.1.5. Others
4.4.3. Medicated feed additives
4.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 5. U.S. Veterinary Medicine Market: Animal Type Estimates & Trend Analysis
5.1. Animal Type Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. U.S. Veterinary Medicine Market by Animal Type Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.4.1. Production animals
5.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
5.4.1.1.1. Poultry
5.4.1.1.1.1. Market estimated and forecasts 2018 to 2030 (USD Million)
5.4.1.1.2. Pigs
5.4.1.1.2.1. Market estimated and forecasts 2018 to 2030 (USD Million)
5.4.1.1.3. Cattle
5.4.1.1.3.1. Market estimated and forecasts 2018 to 2030 (USD Million)
5.4.1.1.4. Sheep & goats
5.4.1.1.4.1. Market estimated and forecasts 2018 to 2030 (USD Million)
5.4.1.1.5. Others
5.4.1.1.5.1. Market estimated and forecasts 2018 to 2030 (USD Million)
5.4.2. Companion animals
5.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
5.4.2.1.1. Dogs
5.4.2.1.1.1. Market estimated and forecasts 2018 to 2030 (USD Million)
5.4.2.1.2. Cats
5.4.2.1.2.1. Market estimated and forecasts 2018 to 2030 (USD Million)
5.4.2.1.3. Horses
5.4.2.1.3.1. Market estimated and forecasts 2018 to 2030 (USD Million)
5.4.2.1.4. Others
5.4.2.1.4.1. Market estimated and forecasts 2018 to 2030 (USD Million)
Chapter 6. U.S. Veterinary Medicine Market: Route of Administration Estimates & Trend Analysis
6.1. Route of administration Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. U.S. Veterinary Medicine Market by Route of Administration Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.4.1. Oral
6.4.1.1. Market estimates and forecasts 2018 to 2030 (USD million)
6.4.2. Injectable
6.4.2.1. Market estimates and forecasts 2018 to 2030 (USD million)
6.4.3. Topical
6.4.3.1. Market estimates and forecasts 2018 to 2030 (USD million)
6.4.4. Other routes
6.4.4.1. Market estimates and forecasts 2018 to 2030 (USD million)
Chapter 7. U.S. Veterinary Medicine Market: Distribution Channel Estimates & Trend Analysis
7.1. Distribution Channel Market Share, 2023 & 2030
7.2. Segment Dashboard
7.3. U.S. Veterinary Medicine Market by Distribution Outlook
7.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
7.4.1. Veterinary hospitals & clinics
7.4.1.1. Market estimates and forecasts 2018 to 2030 (USD million)
7.4.2. E-commerce
7.4.2.1. Market estimates and forecasts 2018 to 2030 (USD million)
7.4.3. Offline retail stores
7.4.3.1. Market estimates and forecasts 2018 to 2030 (USD million)
7.4.4. Others
7.4.4.1. Market estimates and forecasts 2018 to 2030 (USD million)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.3.3. Key company market heat map analysis, 2023
8.4. Company Profiles
8.4.1. Zoetis Services LLC
8.4.1.1. Company overview
8.4.1.2. Financial performance
8.4.1.3. Product benchmarking
8.4.1.4. Strategic initiatives
8.4.2. Boehringer Ingelheim International GmbH
8.4.2.1. Company overview
8.4.2.2. Financial performance
8.4.2.3. Product benchmarking
8.4.2.4. Strategic initiatives
8.4.3. Merck & Co., Inc.
8.4.3.1. Company overview
8.4.3.2. Financial performance
8.4.3.3. Product benchmarking
8.4.3.4. Strategic initiatives
8.4.4. Elanco
8.4.4.1. Company overview
8.4.4.2. Financial performance
8.4.4.3. Product benchmarking
8.4.4.4. Strategic initiatives
8.4.5. Ceva
8.4.5.1. Company overview
8.4.5.2. Financial performance
8.4.5.3. Product benchmarking
8.4.5.4. Strategic initiatives
8.4.6. Phibro Animal Health Corporation
8.4.6.1. Company overview
8.4.6.2. Financial performance
8.4.6.3. Product benchmarking
8.4.6.4. Strategic initiatives
8.4.7. Bimeda Corporate
8.4.7.1. Company overview
8.4.7.2. Financial performance
8.4.7.3. Product benchmarking
8.4.7.4. Strategic initiatives
8.4.8. IDEXX
8.4.8.1. Company overview
8.4.8.2. Financial performance
8.4.8.3. Product benchmarking
8.4.8.4. Strategic initiatives
8.4.9. Vetbiologics
8.4.9.1. Company overview
8.4.9.2. Financial performance
8.4.9.3. Product benchmarking
8.4.9.4. Strategic initiatives
8.4.10. Neogen Corporation
8.4.10.1. Company overview
8.4.10.2. Financial performance
8.4.10.3. Product benchmarking
8.4.10.4. Strategic initiatives
8.4.11. ADM
8.4.11.1. Company overview
8.4.11.2. Financial performance
8.4.11.3. Product benchmarking
8.4.11.4. Strategic initiatives
8.4.12. Kindred Biosciences, Inc.
8.4.12.1. Company overview
8.4.12.2. Financial performance
8.4.12.3. Product benchmarking
8.4.12.4. Strategic initiatives
8.4.13. Cargill, Incorporated
8.4.13.1. Company overview
8.4.13.2. Financial performance
8.4.13.3. Product benchmarking
8.4.13.4. Strategic initiatives
List of Tables
Table 1 List of abbreviations
Table 2 U.S. veterinary medicine market, by product, 2018 - 2030 (USD Million)
Table 3 U.S. veterinary medicine market, by animal type, 2018 - 2030 (USD Million)
Table 4 U.S. veterinary medicine market, by route of administration, 2018 - 2030 (USD Million)
Table 5 U.S. veterinary medicine market, by distribution channel, 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Primary interviews in North America
Fig. 5 Market research approaches
Fig. 6 Value-chain-based sizing & forecasting
Fig. 7 QFD modeling for market share assessment
Fig. 8 Market formulation & validation
Fig. 9 U.S. Veterinary medicine market: market outlook
Fig. 10 U.S. Veterinary medicine competitive insights
Fig. 11 Parent market outlook
Fig. 12 Related/ancillary market outlook
Fig. 13 Penetration and growth prospect mapping
Fig. 14 Industry value chain analysis
Fig. 15 U.S. Veterinary medicine market driver impact
Fig. 16 U.S. Veterinary medicine market restraint impact
Fig. 17 U.S. Veterinary medicine market strategic initiatives analysis
Fig. 18 U.S. Veterinary medicine market: Product outlook and key takeaways
Fig. 19 Biologics market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 20 Vaccines market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 21 Modified/ Attenuated live market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 22 Inactivated (Killed) market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 23 Other vaccines market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 24 Other biologics market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 25 Pharmaceuticals market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 26 Parasiticides market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 27 Anti-infectives market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 28 Anti-inflammatory market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 29 Analgesics market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 30 Others market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 31 Medicated feed additives market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 32 U.S. Veterinary medicine market: Animal type movement analysis
Fig. 33 U.S. Veterinary medicine market: Animal type outlook and key takeaways
Fig. 34 Production animals market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 35 Poultry market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 36 Pigs market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 37 Cattle market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 38 Sheep & goats market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 39 Others market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 40 Companion animals market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 41 Dogs market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 42 Cats market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 43 Horses market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 44 Others market estimates and forecast, 2018 - 2030 (USD Million)
Fig. 45 U.S. Veterinary medicine Market: Product movement Analysis
Fig. 46 U.S. Veterinary medicine market: Route of administration movement analysis
Fig. 47 U.S. Veterinary medicine market: Route of administration outlook and key takeaways
Fig. 48 Oral market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 49 Injectable market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 50 Topical market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 51 Other routes market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 52 U.S. Veterinary medicine market: Distribution channel movement analysis
Fig. 53 U.S. Veterinary medicine market: Distribution channel outlook and key takeaways
Fig. 54 U.S. Veterinary hospitals & clinics market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 55 E-commerce market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 56 Offline retail stores market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 57 Others market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 58 Market share of key market players- U.S. Veterinary medicine market

Companies Mentioned

  • Zoetis Services LLC
  • Boehringer Ingelheim International GmbH
  • Merck & Co., Inc.
  • Elanco
  • Ceva
  • Phibro Animal Health Corporation
  • Bimeda Corporate
  • IDEXX
  • Vetbiologics
  • Neogen Corporation
  • ADM
  • Kindred Biosciences, Inc.
  • Cargill, Incorporated

Methodology

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Table Information

Report AttributeDetails
No. of Pages70
PublishedFebruary 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 13.82 Billion
Forecasted Market Value ( USD ) by 2030 $ 21.8 Billion
Compound Annual Growth Rate6.8%
Regions CoveredUnited States
No. of Companies Mentioned13

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