Summary

U.S. Veterinary Medicine Market Trends

The U.S. veterinary medicine market size was estimated at USD 13.61 billion in 2024 and is projected to reach USD 26.00 billion by 2033, growing at a CAGR of 7.6% from 2025 to 2033. The market growth is largely influenced by the rising global demand for animal protein, which increases the need for healthier livestock and efficient disease management. The growing incidence of animal diseases further amplifies the demand for effective diagnostic and treatment solutions. In addition, frequent product launches and innovations are enhancing the availability of advanced veterinary solutions, while continuous advancements in veterinary medicine are improving accuracy and outcomes in animal healthcare.

The market is continuously evolving due to research into novel product development, business expansion efforts, and strategic alliances to introduce innovative technologies. These efforts are reshaping market demand and practices. For instance, in February 2025, Align Capital Partners' pet health platform, Custom Veterinary Services (CVS), acquired Green Mountain Animal (GMA) to create a unified pet health products company called CompletePet. This merger is expected to offer a range of custom-formulated pet medicated feed additives and health products, with GMA's Vermont facility continuing to support innovation and supply chain capabilities.

Moreover, the growing trend of pet humanization has led pet owners to increasingly prioritize their pets’ health and well-being, driving a willingness to spend significantly more on their care. People are spending more on veterinary care and pet-related products, including premium food, medications, preventive checkups, vaccinations, surgeries, and even advanced treatments. According to the American Pet Products Association, U.S. spending on pets rose from $90.5 billion in 2018 to around $150.6 billion in 2024, an increase of 66%. Between 2018 and 2020, spending grew steadily by 14.5%, but the COVID-19 pandemic accelerated the trend, with a 45.4% jump from 2020 to 2024, largely due to more people adopting pets.

In addition, the FDA approval and subsequent U.S. launch of Zenrelia in September 2024 are playing a pivotal role in driving the growth of the veterinary medicine market by broadening the availability of advanced therapies for widespread yet difficult-to-manage conditions such as allergic and atopic dermatitis in dogs. Skin disorders are among the most frequent reasons for veterinary visits, and introduction of more effective therapy creates strong demand from both veterinarians and pet owners seeking better outcomes. Zenrelia works better than existing drugs such as Apoquel, which not only makes more veterinarians and pet owners choose it but also raises the standard for new treatments, encouraging more research and development in targeted therapies and precision medicine.

U.S. Veterinary Medicine Market Report Segmentation

This report forecasts revenue growth provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the U.S. veterinary medicine market report based on product, animal type, route of administration, distribution channel:

• Product Outlook (Revenue, USD Million, 2021 - 2033)
• Biologics
o Vaccines
o Modified/ Attenuated Live
o Inactivated (Killed)
o Other Vaccines
o Other Biologics
• Pharmaceuticals
o Parasiticides
o Anti-infectives
o Anti-inflammatory
o Analgesics
o Others
• Medicated Feed Additives
• Others
• Animal Type Outlook (Revenue, USD Million, 2021 - 2033)
• Production Animals
o Poultry
o Pigs
o Cattle
o Sheep & Goats
o Others
• Companion Animals
o Dogs
o Cats
o Horses
o Others
• Route of Administration Outlook (Revenue, USD Million, 2021 - 2033)
• Oral
• Injectable
• Topical
• Other Routes
• Distribution Channel Outlook (Revenue, USD Million, 2021 - 2033)
• Veterinary Hospitals & Clinics
• E-commerce
• Offline Retail Stores
• Others

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources
1.3.4. Primary Research
1.3.5. Details of Primary Research
1.3.6. Data analysis model
1.4. Information/Data Analysis
1.5. Market Formulation & Visualization
1.6. Data Validation & Publishing
1.7. Model Details
1.7.1. Commodity flow analysis
1.7.2. Market: CAGR Calculation
1.8. List of Secondary Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. U.S. Veterinary Medicine Market Variable Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market
3.1.2. Ancillary Market
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Increasing prevalence of chronic disease in pets
3.2.1.2. Rising pet expenditure and pet humanization
3.2.1.3. Technological advancements
3.2.1.4. Strategic initiatives by key players
3.2.2. Market Restraint Analysis
3.2.2.1. Stringent regulatory process
3.2.2.2. Increasing Influx Of Counterfeit Drugs.
3.2.3. Market Opportunity Analysis
3.2.4. Market Challenge Analysis
3.3. U.S. Veterinary Medicine Market Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Bargaining power of suppliers
3.3.1.2. Bargaining power of buyers
3.3.1.3. Threat of substitution
3.3.1.4. Threat of new entrants
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Legal landscape
3.3.2.3. Economic landscape
3.3.2.4. Social landscape
3.3.2.5. Technological landscape
3.3.2.6. Environmental landscape
3.4. Pricing Analysis
3.5. Regulatory Framework
3.6. Product Pipeline Analysis
3.7. Estimated Animal Population by key Species, 2021 - 2024
Chapter 4. U.S. Veterinary Medicine Market: Product Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. U.S. Veterinary Medicine Market: Product Movement Analysis
4.3. U.S. Veterinary Medicine Market Size & Trend Analysis, by Product, 2021 to 2033 (USD Million)
4.4. Biologics
4.4.1. Biologics Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.4.2. Vaccines
4.4.2.1. Vaccines Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.4.2.2. Modified/ Attenuated
4.4.2.2.1. Modified/ Attenuated Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.4.2.3. Inactivated (Killed)
4.4.2.3.1. Inactivated (Killed) Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.4.2.4. Other Vaccines
4.4.2.4.1. Other Vaccines Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.4.3. Other Biologics
4.4.3.1. Other Biologics Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.5. Pharmaceuticals
4.5.1. Pharmaceuticals Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.5.2. Parasiticides
4.5.2.1. Parasiticides Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.5.3. Anti-Infectives
4.5.3.1. Anti-Infectives Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.5.4. Anti-Inflammatory
4.5.4.1. Anti-Inflammatory Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.5.5. Analgesics
4.5.5.1. Analgesics Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.5.6. Others
4.5.6.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.6. Medicated Feed Additives
4.6.1. Medicated Feed Additives Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.7. Others
Chapter 5. U.S. Veterinary Medicine Market: Animal Type Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. U.S. Veterinary Medicine Market: Animal Type Movement Analysis
5.3. U.S. Veterinary Medicine Market Size & Trend Analysis, by Animal Type, 2021 to 2033 (USD Million)
5.4. Production Animals
5.4.1. Production Animals Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.4.2. Poultry
5.4.2.1. Poultry Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.4.3. Pigs
5.4.3.1. Pigs Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.4.4. Cattle
5.4.4.1. Cattle Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.4.5. Sheep & Goat
5.4.5.1. Sheep & goat Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.4.6. Others
5.4.6.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.5. Companion Animals
5.5.1. Companion Animals Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.5.2. Dogs
5.5.2.1. Dogs Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.5.3. Cats
5.5.3.1. Cats Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.5.4. Horses
5.5.4.1. Horses Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.5.5. Others
5.5.5.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 6. U.S. Veterinary Medicine Market: Route of Administration Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. U.S. Veterinary Medicine Market: Route of Administration Movement Analysis
6.3. U.S. Veterinary Medicine Market Size & Trend Analysis, by Route of Administration, 2021 to 2033 (USD Million)
6.4. Oral
6.4.1. Oral Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
6.4.2. Injectable
6.4.3. Injectable Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
6.4.4. Topical
6.4.5. Topical Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
6.5. Others
6.5.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 7. U.S. Veterinary Medicine Market: By Distribution Channel Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. U.S. Veterinary Medicine Market: By End Use Movement Analysis
7.3. U.S. Veterinary Medicine Market Size & Trend Analysis, by End Use, 2021 to 2033 (USD Million)
7.3.1. Veterinary Clinics & Hospitals
7.3.1.1. Veterinary Clinics & Hospitals Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
7.3.2. E-Commerce
7.3.2.1. E-Commerce Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
7.3.3. Offline Retail Stores
7.3.3.1. Offline Retail Stores Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
7.3.4. Others
7.3.4.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 8. Competitive Landscape
8.1. Market Participant Categorization
8.2. Company Market Position Analysis/ Heat Map Analysis
8.3. Company Market Share Analysis, 2024
8.4. Company Profiles
8.4.1. Boehringer Ingelheim International GmbH
8.4.1.1. Participant’s Overview
8.4.1.2. Financial Performance
8.4.1.3. Product/Service Benchmarking
8.4.1.4. Strategic Initiatives
8.4.2. Zoetis
8.4.2.1. Participant’s Overview
8.4.2.2. Financial Performance
8.4.2.3. Product/Service Benchmarking
8.4.2.4. Strategic Initiatives
8.4.3. Merck & Co., Inc.
8.4.3.1. Participant’s Overview
8.4.3.2. Financial Performance
8.4.3.3. Product/Service Benchmarking
8.4.3.4. Strategic Initiatives
8.4.4. Elanco
8.4.4.1. Participant’s Overview
8.4.4.2. Financial Performance
8.4.4.3. Product/Service Benchmarking
8.4.4.4. Strategic Initiatives
8.4.5. Dechra Pharmaceuticals PLC
8.4.5.1. Participant’s Overview
8.4.5.2. Financial Performance
8.4.5.3. Product/Service Benchmarking
8.4.5.4. Strategic Initiatives
8.4.6. Ceva Santé Animale
8.4.6.1. Participant’s Overview
8.4.6.2. Financial Performance
8.4.6.3. Product/Service Benchmarking
8.4.6.4. Strategic Initiatives
8.4.7. Bimeda Corporate
8.4.7.1. Participant’s Overview
8.4.7.2. Financial Performance
8.4.7.3. Product/Service Benchmarking
8.4.7.4. Strategic Initiatives
8.4.8. Biogénesis Bagó
8.4.8.1. Participant’s Overview
8.4.8.2. Financial Performance
8.4.8.3. Product/Service Benchmarking
8.4.8.4. Strategic Initiatives
8.4.9. Phibro Animal Health Corporation
8.4.9.1. Participant’s Overview
8.4.9.2. Financial Performance
8.4.9.3. Product/Service Benchmarking
8.4.9.4. Strategic Initiatives
8.4.10. Virbac
8.4.10.1. Participant’s Overview
8.4.10.2. Financial Performance
8.4.10.3. Product/Service Benchmarking
8.4.10.4. Strategic Initiatives
8.5. Strategy Mapping
8.5.1. Mergers & Acquisitions
8.5.2. Partnerships & Collaborations
8.5.3. Product/Service launch
8.5.4. Others
8.6. List of other key players