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India Veterinary Medicine Market Report by Product (Drugs, Vaccines, Medicated Feed Additives), Animal Type (Companion Animals, Livestock Animals), Route of Administration (Oral, Parenteral, Topical), Distribution Channel (Veterinary Hospitals Pharmacies, Retail Veterinary Pharmacies, Online Pharmacies), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A5427
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Market Overview:
The India veterinary medicine market size reached US$ 816.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,440.2 Million by 2032, exhibiting a growth rate (CAGR) of 6.51% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 816.6 Million |
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Market Forecast in 2032
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US$ 1,440.2 Million |
| Market Growth Rate 2024-2032 | 6.51% |
Veterinary medicine is a branch of medicine involving the prevention, management, diagnosis, and treatment of diseases that affect the health of household pets, exotic species, and wild animals. It assists in biomedical research and monitoring of animal health in commercial animal husbandry. Besides this, as it also aids in providing advanced medical, dental, and surgical care, which includes insulin injections, root canals, hip replacements, cataract extractions, and pacemakers, there is a rise in the demand for veterinary medicine across India.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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India Veterinary Medicine Market Trends:
The increasing number of pet parents represent one of the key factors impelling the growth of the market in India. Moreover, there is a rise in the prevalence of zoonotic diseases, such as rabies, plague, toxoplasmosis, cysticercosis, echinococcosis, leptospirosis, nipah, trypanosomiasis, and kyasanur forest disease (KFD), in the country. As a result, the Government of India has implemented a centrally sponsored Livestock Health and Disease Control (LH&DC) scheme to tackle the issue of livestock health and disease effectively. It has also launched National Animal Disease Control Programme (NADCP) for controlling foot and mouth disease (FMD) and brucellosis by vaccinating cattle, buffalo, sheep, goat and pig population. This, coupled with the growing consumption of meat and dairy products in the country, is positively influencing the market. Apart from this, several state governments are introducing 24x7 veterinary hospitals to provide extended care to companion and farm animals. Additionally, leading players are introducing online veterinary consultation for pets across India. The increasing adoption of the one health (OH) approach, which is strategically gaining significance from veterinarians and healthcare providers, is also fueling the growth of the market in the country.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India veterinary medicine market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on product, animal type, route of administration and distribution channel.
Breakup by Product:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Drugs
- Anti-infective
- Anti-inflammatory
- Parasiticide
- Vaccines
- Inactivated Vaccines
- Attenuated Vaccines
- Recombinant Vaccines
- Medicated Feed Additives
- Amino Acids
- Antibiotics
Breakup by Animal Type:
- Companion Animals
- Livestock Animals
Breakup by Route of Administration:
- Oral
- Parenteral
- Topical
Breakup by Distribution Channel:
- Veterinary Hospitals Pharmacies
- Retail Veterinary Pharmacies
- Online Pharmacies
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Ani Healthcare Pvt Ltd, Ashish Life Science Pvt Limited, Century Pharmaceuticals Ltd., GMT Pharma International, MarchVET, SSS Pharmachem Pvt.Ltd., Stanex Drugs and Chemicals Pvt Ltd, Vetbiochem India Private Limited, Virbac Animal Health India Pvt Ltd (Virbac), Zenley and Zovix Pharmaceuticals.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Million |
| Segment Coverage | Product, Animal Type, Route of Administration, Distribution Channel, Region |
| Region Covered | North India, West and Central India, South India, East India |
| Companies Covered | Ani Healthcare Pvt Ltd, Ashish Life Science Pvt Limited, Century Pharmaceuticals Ltd., GMT Pharma International, MarchVET, SSS Pharmachem Pvt.Ltd., Stanex Drugs and Chemicals Pvt Ltd, Vetbiochem India Private Limited, Virbac Animal Health India Pvt Ltd (Virbac), Zenley and Zovix Pharmaceuticals |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
We expect the India veterinary medicine market to exhibit a CAGR of 6.51% during 2024-2032.
The rising prevalence of zoonotic diseases, such as rabies, plague, toxoplasmosis, etc., along with the emerging trend of pet humanization, is primarily driving the India veterinary medicine market.
The sudden outbreak of the COVID-19 pandemic had led to limited visits to veterinary hospitals and delay in diagnosis and treatment for animals on account of mitigating the risk of the coronavirus infection, thereby negatively impacting the demand for veterinary medicines across the nation.
Based on the product, the India veterinary medicine market has been divided into drugs, vaccines, and medicated feed additives. Currently, drugs exhibit a clear dominance in the market.
Based on the animal type, the India veterinary medicine market can be categorized into companion animals and livestock animals, where companion animals currently account for the majority of the total market share.
Based on the route of administration, the India veterinary medicine market has been segregated into oral, parenteral, and topical. Among these, parenteral holds the largest market share.
Based on the distribution channel, the India veterinary medicine market can be bifurcated into veterinary hospitals pharmacies, retail veterinary pharmacies, and online pharmacies. Currently, veterinary hospitals pharmacies exhibit a clear dominance in the market.
On a regional level, the market has been classified into North India, West and Central India, South India and East India, where South India currently dominates the India veterinary medicine market.
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