Veterinary Pharmaceuticals Market worth $39.37 billion by 2031 | MarketsandMarkets™

DELRAY BEACH, Fla., Feb. 16, 2026 /PRNewswire/ -- According to MarketsandMarkets™, the veterinary pharmaceuticals market is projected to grow from about USD 28.98 billion in 2026 to USD 39.37 billion by 2031, at a CAGR of 6.3%.

Browse 650 market data Tables and 320 Figures spread through 550 Pages and in-depth TOC on "Veterinary Pharmaceuticals Market - Global Forecast to 2031"

Veterinary Pharmaceuticals Market Size & Forecast:

• Market Size Available for Years: 2025–2031
• 2026 Market Size: USD 28.98 billion
• 2031 Projected Market Size: USD 39.37 billion
• CAGR (2026–2031): 6.3%

Veterinary Pharmaceuticals Market Trends & Insights:

• North America has accounted for the largest market share of 38.4% in 2025 in the veterinary pharmaceuticals market.
• Monoclonal antibodies segment is projected to witness the highest CAGR of 7.3% during the forecast period.
• Oral route of administration accounted for the largest market share of 48.2% in 2025.
• Solid formulation commanded 40.2% market share in 2025.
• Dermatological diseases are expected to register the highest growth rate of 8.6% during the forecast period.
• Companion animals are projected to have the highest CAGR of 8.0% during the forecast period.
• Veterinary hospital pharmacies has accounted for the largest share of 65.5% in the market.
• Veterinary hospitals & clinics segment is projected to register the highest growth rate of 7.9% in this market.

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The veterinary pharmaceuticals market is growing due to rising pet ownership, increased livestock production, and higher spending on animal health. Demand for preventive care, vaccines, and long-acting therapeutics is expanding, particularly among companion animals. Growth in intensive farming and a focus on food safety are driving the adoption of livestock drugs. Technological advances in biologics, monoclonal antibodies, and targeted therapies are creating new treatment options. Emerging markets in Asia-Pacific and Latin America offer strong opportunities, driven by improving veterinary infrastructure, expanding distribution networks, and greater awareness of animal disease management and productivity enhancement.

Key disruptive trends in the veterinary pharmaceuticals market include a shift toward biologics, monoclonal antibodies, and precision-targeted therapies for chronic conditions such as osteoarthritis and dermatological disorders. Digital health tools, including tele-veterinary platforms and wearable animal health monitors, are improving treatment adherence and enabling real-time disease tracking. Additionally, data-driven herd management systems and AI-supported drug development are accelerating innovation, optimizing therapeutic outcomes, and reshaping traditional distribution and care delivery models.

In 2025, the United States accounted for the largest share of the global veterinary pharmaceuticals market, supported by high pet ownership and strong spending on companion animal care. Advanced veterinary infrastructure, widespread pet insurance coverage, and early adoption of premium therapeutics, such as monoclonal antibodies, contribute to market dominance. In livestock, large-scale commercial farming and strict food safety regulations further drive consistent demand for pharmaceutical products.

The drugs segment holds the largest share of the veterinary pharmaceuticals market, driven by strong demand for prescription therapeutics for chronic conditions such as osteoarthritis, dermatological disorders, and parasitic infections in companion animals. High diagnostic rates, frequent veterinary visits, and broad availability of branded and generic formulations support volume growth. In food-producing animals, regulated yet consistent use of anti-infectives and reproductive drugs further sustains the segment dominance.

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The dermatological diseases segment is projected to post the highest CAGR, driven by rising incidence e of atopic dermatitis, allergic reactions, and parasitic skin infections in companion animals. Growing pet owner awareness, earlier diagnosis, and demand for advanced therapies, including monoclonal antibodies and long-acting antiparasitics, are accelerating growth. Strong product pipelines and rising spending on specialty dermatology care further support the segment expansion.

Key opportunities include expanding biologics and specialty therapeutics for chronic conditions such as osteoarthritis, oncology, and dermatology. Growth in pet insurance coverage and premiumization trends supports the uptake of high-value branded drugs. Direct-to-consumer pharmacy platforms and tele-veterinary integration also create new distribution pathways. In livestock, opportunities exist in precision dosing solutions and residue-compliant therapeutics aligned with stringent FDA and USDA standards and regulations.

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Top Companies in Veterinary Pharmaceuticals Market:

The Top Companies in Veterinary Pharmaceuticals Market include Zoetis Inc. (US), Merck Animal Health (US), Boehringer Ingelheim Animal Health (Germany), Elanco (US), Virbac (France), Ceva (France), Vetoquinol (France), Dechra Pharmaceuticals (UK), Norbrook (UK), Bimeda (Ireland), Hester Biosciences Limited (India), Indian Immunologicals Ltd. (India), Animalcare Group (UK), Kyoritsu Seiyaku (Japan), Calier (Spain).

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