Veterinary Therapeutics Market to Grow at a CAGR of 5.9% over 2025 to 2032; Heightened Demand for Animal Protein to Encourage Market Growth

The global veterinary therapeutics market size was valued at USD 45.05 billion in 2024. The market is projected to grow from USD 45.70 billion in 2025 to USD 70.66 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Veterinary Therapeutics Market Size, Share & Industry Analysis, By Product (Veterinary Drugs {Anti-infectives, Anti-inflammatory, Parasiticides, and Others}, Veterinary Vaccines {Inactivated, Live Attenuated, Recombinant, and Others}, and Medicated Feed Additives { Antimicrobials, Anticoccidials, Antiparasitics, and Others}), By Animal Type (Companion {Feline, Canine, Avian, and Others} and Livestock {Poultry, Porcine, Bovine, and Others}) By Route of Administration (Oral, Parenteral, Topical, and Aerosol), By Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores, and Others), and Regional Forecast, 2025-2032”.

Veterinary therapeutics encompasses the development of drugs, vaccines, and feed additives to enhance animal health and prevent zoonotic diseases. Market growth is driven by rising pet ownership, increasing demand for animal protein, and the prevalence of infectious diseases such as rabies, leptospirosis, and tick-borne infections, boosting demand for veterinary drugs and vaccines.

The market witnessed positive growth during the COVID-19 pandemic, driven by greater awareness of zoonotic diseases and increased pet ownership. Higher demand for pet care products, vaccines, and antibiotics fueled sales, while telemedicine adoption made veterinary services more accessible. Leading companies reported revenue growth, and continued demand for animal healthcare products is expected to drive market expansion.

Touchlight and Ceva Signed an Agreement to Boost Manufacturing of new dbDNA Vaccines

Touchlight and Ceva signed an agreement and a long-term partnership for the development and manufacture of new dbDNA vaccines and therapeutics across a broad range of animal health indications.

Growing Pet Ownership and New Product Launches to Drive Market Growth

Increasing pet ownership and demand for advanced veterinary care are key drivers of the market. Owners are prioritizing preventive care and wellness solutions, fueling industry growth. Additionally, rising R&D investments and regulatory approvals are accelerating innovation. In September 2024, Elanco’s Zenrelia received U.S. FDA approval, showcasing the growing market for novel veterinary drugs and biologics.

However, safety and security concerns could hinder veterinary therapeutics market growth.

Industry Participants Focus on Partnerships to Enter into Emerging Market

Leading companies such as Zoetis Services LLC, Merck Animal Health, and Elanco dominate the veterinary therapeutics market with robust product pipelines, regulatory approvals, and strategic alliances. Ceva, Vetoquinol, and Virbac are also expanding their market presence through innovation, partnerships, and entry into emerging markets. Rising sustainability concerns and growing demand for eco-friendly products are further driving research and development efforts.

List of Key Players Mentioned in the Report

• Zoetis Services LLC (U.S.)


• Merck Animal Health (U.S.)


• Elanco (U.S.)


• Boehringer Ingelheim International GmbH. (Germany)


• Ceva (France)


• Vetoquinol (France)


• Virbac (France)


• Phibro Animal Health Corporation (U.S.)


• Panav Bio Tech. (India)

Key Industry Development

• July 2022 - Virbac launched Tenotryl (enrofloxacin) injectable solution for cattle and pigs to expand its presence in the livestock market.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/veterinary-therapeutics-market-100138

Further Report Findings

• In 2024, North America held the key veterinary therapeutics market share, generating USD 17.80 billion, driven by rising pet ownership and strong veterinary infrastructure. The U.S. led the region, benefiting from high disposable income and increased spending on pet healthcare. AVMA (2024) reported 59.8 million pet dogs and 42.2 million cats in U.S. households, with annual veterinary care expenses averaging USD 580 for dogs and USD 433 for cats, reinforcing market expansion.


• In 2024, Europe ranked second in the global veterinary therapeutics market, driven by a significant pet population, growing livestock demand, and strong government support. Key manufacturers with innovative products also contributed to market expansion.

Table of Segmentation