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The India veterinary medicine market is expected to exhibit a CAGR of 7.73% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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.
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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.
IMARC Group provides an analysis of the key trends in each sub-segment of the India veterinary medicine market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on product, animal type, route of administration and distribution channel.
Breakup by Product:
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Breakup by Animal Type:
Breakup by Route of Administration:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Product, Animal Type, Route of Administration, Distribution Channel, Region |
| Region Covered | North India, West and Central India, South India, East India |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2299 Five User License: US$ 3399 Corporate License: US$ 4499 |
| 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 7.73% during 2022-2027.
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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