The Global Market for Pet Veterinary Drugs (2016-2025): Led by Zoetis, Bayer, Boehringer Ingelheim International, Merck Animal Health | P&T Community
North America is slated to account for a share of 38.5% by 2025 in the pet veterinary drugs market. The growth in the region can be attributed to growing pet expenditure. Re-occurrence of animal diseases is also expected to impel the growth of pet veterinary drugs market in the North America. U.S. is the prominent market driving the growth in the region. Additionally, U.S. pet veterinary drugs market reached USD 5,427 Million in 2018 and is expected to reach USD7,176.2 Million by the end of 2025, expanding at a CAGR of 4.1% over the forecast period i.e. 2019-2025. U.S. pet veterinary drugs market is expected to achieve Y-o-Y growth rate of 4.4% in 2025 as compared to previous year.
The global pet veterinary drugs market is segmented on the basis of drugs into Pharmaceuticals & Biologics and Vaccines. Among these segments, Pharmaceuticals & Biologics segment (71.4% share in 2018) occupies the largest market of pet veterinary drugs across the globe. Further, vaccines segment is anticipated to reach USD6,120.4 Million by the end of 2025 from USD4,643.1 Million in 2018. Moreover, this segment is anticipated to flourish at a CAGR of 4.1% over the forecast period. In addition Recombinant Vaccines segment of drugs is expected to achieve Y-o-Y growth rate of 4.6% in 2025 as compared to previous year.