US veterinary medicine market report size, share, growth drivers, trends, opportunities & forecast 2025–2030

US Veterinary Medicine Market Overview

• The US Veterinary Medicine Market is valued at USD 8 billion, based on a five-year historical analysis. This growth is primarily driven by the increasing pet ownership rates, rising awareness about animal health, and advancements in veterinary technology. The market has seen a surge in demand for innovative pharmaceuticals and biologics, which cater to both companion and production animals. Recent trends highlight the growing adoption of advanced diagnostics, telemedicine, and preventive care solutions, reflecting a shift toward higher-value services and products .
• Key players in this market are concentrated in major cities such as New York, Los Angeles, and Chicago, which dominate due to their large populations and high pet ownership rates. Additionally, these cities have a high density of veterinary clinics and hospitals, contributing to the overall growth of the veterinary medicine sector in the US. Urbanization and increased disposable income in these metropolitan areas further accelerate market expansion .
• In 2023, the US government enacted the Animal Drug User Fee Amendments of 2023, issued by the US Food and Drug Administration (FDA). This regulation mandates user fees for sponsors of new animal drug applications and is designed to expedite the review and approval process for animal drugs. The amendments require sponsors to comply with specific fee schedules and reporting standards, thereby enhancing the efficiency of the FDA's review process and ensuring that safe and effective veterinary medicines reach the market more quickly .

US Veterinary Medicine Market Segmentation

By Product Type:The product type segmentation includes Pharmaceuticals, Biologics (Vaccines, Monoclonal Antibodies), Medicated Feed Additives, Diagnostics, and Others. Pharmaceuticals remain the leading subsegment, driven by the increasing prevalence of chronic diseases in pets and livestock, alongside a growing demand for preventive care solutions. Biologics, particularly vaccines, are gaining traction due to heightened awareness of zoonotic diseases and the importance of vaccination in animal health. The diagnostics segment is expanding, supported by advancements in digital diagnostic tools and rapid disease detection technologies .

By Animal Type:The animal type segmentation includes Companion Animals, Production Animals (Livestock), Equine, and Others. Companion animals dominate the market, driven by the increasing trend of pet humanization and the willingness of pet owners to spend on high-quality veterinary care. The production animals segment is also significant, as livestock health is crucial for food security and agricultural productivity. The equine segment, while smaller, is growing due to the rising interest in equestrian sports and horse ownership. The continued rise in pet adoption and the expansion of pet insurance coverage are further supporting the companion animal segment .

US Veterinary Medicine Market Competitive Landscape

The US Veterinary Medicine Market is characterized by a dynamic mix of regional and international players. Leading participants such as Zoetis Inc., Merck Animal Health, Elanco Animal Health, Bayer Animal Health, Boehringer Ingelheim Animal Health, Ceva Santé Animale, IDEXX Laboratories, Vetoquinol, Neogen Corporation, Virbac Corporation, PetIQ, Covetrus, Animal Health International, Kemin Industries, Phibro Animal Health contribute to innovation, geographic expansion, and service delivery in this space.

US Veterinary Medicine Market Industry Analysis

Growth Drivers

• Increasing Pet Ownership:The American Pet Products Association reported that approximately 66% of U.S. households own a pet, translating to around 90 million dogs and 94 million cats in future. This surge in pet ownership has led to a significant increase in demand for veterinary services, with pet owners spending an estimated $35.9 billion on veterinary care in future. This trend is expected to continue, driving growth in the veterinary medicine market as more households prioritize pet health and wellness.
• Advancements in Veterinary Technology:The veterinary technology sector is experiencing rapid advancements, with the market for veterinary diagnostic equipment projected to reach $2.2 billion in future. Innovations such as telemedicine, AI-driven diagnostics, and advanced imaging techniques are enhancing the quality of care. These technologies not only improve treatment outcomes but also streamline operations, making veterinary services more accessible and efficient, thus contributing to market growth.
• Rising Awareness of Animal Health:Increased awareness regarding animal health and wellness is driving pet owners to seek regular veterinary care. According to the American Veterinary Medical Association, 60% of pet owners now consider preventive care essential. This shift is reflected in the growing expenditure on preventive services, which reached $15 billion in future. As pet owners become more informed about health issues, the demand for veterinary services is expected to rise significantly.

Market Challenges

• High Cost of Veterinary Services:The cost of veterinary care has been rising, with average expenditures per pet reaching $700 annually in future. This increase can deter pet owners from seeking necessary medical attention for their animals, leading to untreated health issues. The financial burden of veterinary services poses a significant challenge, particularly for low-income households, potentially limiting market growth as some pet owners may opt for alternative care options.
• Shortage of Veterinary Professionals:The American Veterinary Medical Association reported a shortage of approximately 3,000 to 4,000 veterinarians in the U.S. as of future. This shortage is exacerbated by an aging workforce and insufficient enrollment in veterinary schools. The lack of qualified professionals can lead to longer wait times for appointments and reduced service availability, ultimately hindering the growth of the veterinary medicine market and affecting overall animal health care.

US Veterinary Medicine Market Future Outlook

The future of the U.S. veterinary medicine market appears promising, driven by ongoing trends in pet ownership and technological advancements. As pet humanization continues to rise, owners are increasingly willing to invest in high-quality veterinary care. Additionally, the integration of telemedicine and digital health solutions is expected to enhance service delivery. These trends will likely foster a more proactive approach to animal health, ensuring that veterinary services remain essential in the coming years.

Market Opportunities

• Expansion of Telemedicine in Veterinary Care:The telemedicine market for veterinary services is projected to grow significantly, with estimates suggesting it could reach $500 million in future. This growth is driven by the convenience and accessibility of remote consultations, allowing pet owners to receive timely advice and care without the need for in-person visits, thus expanding the reach of veterinary services.
• Increasing Demand for Pet Insurance:The pet insurance market is expected to grow to $2.8 billion in future, reflecting a growing trend among pet owners to secure financial protection for veterinary expenses. This increase in pet insurance uptake can lead to higher spending on veterinary services, as insured pet owners are more likely to seek preventive and emergency care, thereby driving market growth.