Mexico Veterinary Medicine Market Size, Share & Trends Analysis Report By Animal Type (Production Animals, Companion Animals), By Product, By Route Of Administration (Oral, Injectable, Topical), By Distribution Channel, And Segment Forecasts, 2025 - 2030

Mexico Veterinary Medicine Market Trends

The Mexico veterinary medicine market size was estimated at USD 1.65 billion in 2024 and is expected to grow at a CAGR of 8.37% from 2025 to 2030. The market growth is primarily driven by the rise in livestock population and increasing pet ownership rates, increasing number of zoonotic & chronic diseases, rising R&D and strategic initiatives by key players, and increasing consumption of meat and dairy products. Over the past few decades, there has been an increase in the number of livestock in Mexico, which further supports the market growth. For instance, in 2025, there will be 8.7 million head of calf crops, a 1% increase over 2024, according to a USDA report published on September 5, 2024. This growth is anticipated to be driven by a high volume of exports and a decline in feed prices in 2023 and 2024.

In addition, according to an article published by Pet Food Industry, in June 2024, the demand for dogs, cats, and other pet supplies, including medicines, is expanding and changing in Mexico as a result of pet owners' evolving relationships with their animals. In Mexico, dogs make up 69.8% of all companion animals, making them the most common pets. Furthermore, the same source claims that rising incomes frequently lead up to population urbanization, and Mexico is no exemption. Younger Mexicans, particularly those who have been isolated due to the COVID-19 outbreak, choose pets as companionship. The desire of these pet owners to develop relationships with their animals increases the market demand for medications and other pet supplies.

Mexico veterinary medicine industry was impacted by the COVID-19 outbreak. Approximately 5% of veterinarians experienced job loss as a result of the COVID-19 pandemic. In Mexico, 69% of veterinarians report that they experienced supply delays or even ran out of particular supplies entirely. Furthermore, in the wake of the coronavirus, routine checkups and home visits have generally been curtailed or discontinued in the majority of regions, including Mexico. Thirty-three percent of veterinarians in Mexico said that vaccination rates have decreased in their clinics. Furthermore, 75% of veterinarians have cut back on or terminated in-person interactions with manufacturers. However, during these difficult times, 92% of Mexican veterinarians claimed they received at least additional support from their suppliers

The rising demand for vaccines and pharmaceuticals is being driven by the increased incidence of zoonotic illnesses. For instance, on November 22, 2024, Mexico's Chief Veterinary Officer reported a positive finding of New World screwworm in Mexico. One of the most destructive pests in livestock is the New World screwworm (NWS, Cochliomyia hominivorax). Since 2023, the number of cases of New World screwworm, which is endemic in Cuba, Haiti, the Dominican Republic, and other South American countries, has been rising and moving towards north from Panama to Costa Rica, Nicaragua, Honduras, Guatemala, Belize, and Mexico.

Animal Type Insights

The production animal segment held a major share of 58.46% of the animal type segment in 2024. The substantial share held by the segment can be attributed to an increase in focus on food safety and sustainability by government healthcare organizations of Mexico. Policymakers in various countries strive to achieve total food security, which propels large-scale safe food production and results in greater rearing of production animals. The policies are focused on long-term sustainability, which can be achieved by improving productivity and giving more attention to the production of animal healthcare.

The companion animal segment in the Mexico veterinary medicine industry is expected to grow lucratively during the forecast period due to the increasing prevalence of chronic diseases in companions. The rising prevalence of obesity among dogs in Mexico, estimated to affect at least 20% in developed markets, is driving demand for veterinary medicines targeting obesity-related conditions such as joint issues, diabetes, and cardiovascular diseases, boosting the country's dog medicine market. Moreover, as per Merck KGaA, dog breeds like Labrador Retrievers, Terriers, Toy Poodles, and Miniature Schnauzers are more likely to develop chronic diseases such as diabetes. Therefore, growing dog health concerns, rising awareness about diseases in dogs, and increasing pet expenditure are expected to contribute to market growth over the forecast period.

Product Insights

The pharmaceutical segment accounted for the largest revenue share in 2024. Pharmaceuticals primarily include anti-inflammatory drugs, parasiticides, antibiotics, and others. The growth of this market can be attributed to the increasing prevalence of food-borne diseases, brucellosis, and zoonotic diseases that are potentially hazardous to animals, thus leading to clinical urgency for the use of potent pharmaceuticals and targeted medicines. It is also believed that a considerable increase in companion animal ownership has also expedited the adoption of pharmaceuticals to help increase the longevity of animals.

The biologics segment is anticipated to grow at a CAGR of 9.31% during the forecast period. This can be attributed to the increasing usage of vaccines for disease prevention in livestock and companion animals. Biologics comprises vaccines such as live attenuated vaccines, DNA vaccines, and inactivated vaccines. Other major drivers of the biologics market include an increase in the number of pet owners, the large livestock population, the presence of local market players, and the growing incidence of disease outbreaks in Mexico, which is significantly contributing to the market growth.

Route of Administration Insights

The injectable segment in the route of administration continues to dominate market. The injectable drug is given by a route other than the mouth via a hollow needle. The three major mode injectable modes of drug administration are intravenous, intramuscular & sub-cutaneous. In Mexico, the intravenous (IV) route for administering veterinary vaccines is preferred for specific diseases due to the need for rapid immune response and effective management of severe infections. The duration of the onset of action for the intravenous mode of administration is seconds. However, the duration is a little longer in minutes in intramuscular and sub-cutaneous modes. Several peptides & recombinant proteins are inactive orally and must be administered by the parenteral route.

Other modes of delivery include inhalational routes and controlled-release implants. This segment is expected to grow at a CAGR of 11.39% over the forecast period due to increasing availability of products and growing adoption of alternative delivery modes by livestock farmers and pet parents. Inhalational therapies are primarily used for managing respiratory conditions in animals, allowing for direct medication delivery to the lungs. This route minimizes systemic side effects and provides rapid relief from symptoms. Whereas controlled-release implants provide sustained medication delivery over an extended period, enhancing compliance and reducing the frequency of administration.

Distribution Channel Insights

Veterinary hospitals and clinics dominated the market with a revenue share of 39.91% in 2024. The demand for veterinary hospitals and clinics in Mexico is surging due to rising pet ownership and the need for comprehensive, high-quality pet care services. As more pet owners seek specialized care, advanced veterinary facilities are crucial for offering effective treatments and ensuring proper medication dosage through professional guidance. Investments in modern clinics, like those supported by Vetalia’s USD 10 million funding, are improving service accessibility and quality.

The e-commerce segment garnered over 28.22% of the revenue share in 2024. The increasing pet ownership, growing expenditure on pet healthcare, rising significance of pet pharmaceuticals, and increasing preference for convenient ordering of veterinary medications on online websites have contributed to the rapid growth of e-commerce pet product sales in Mexico. Platforms like Petmarkt (drop shipping), Vetalia (enhanced pet care services), and Arecov Mexican Pharmacy (affordable medications) drove market growth by offering convenience, competitive pricing, and a wide product range.

Key Mexico Veterinary Medicine Company Insights

The Mexico veterinary medicine market will remain competitive over the forecast period. Major companies dominate the market and are responsible for a sizable amount of the industry's revenue. In an effort to increase their market share, these major players are aggressively pursuing broad growth strategies, such as developing strategic alliances, improving product diversification, and growing their product portfolios. Leading market participants' development of sustainable and high-quality products is also anticipated to sustain heightened competition within this market.

For example, in June 2023, Dinavet, a well-known distributor of pet food and veterinary supplies with 60 years of expertise in the business, launched a new manufacturing facility in Guanajuato, central Mexico. The company's foothold in the local pet food industry is intended to be strengthened by the new facility.

Recent Developments

• In November 2024, Phibro Animal Health Corporation acquired the entire medicated feed additive portfolio of Zoetis. This portfolio is spanned across 80+ countries and contains over 37 product lines.

• In May 2024, HIPRA at World Buiatrics Congress in Mexico, launched their novel multivalent cattle vaccine, Divence. This vaccine can be used for treatment of Bovine respiratory syncytial virus (BRSV), Bovine viral diarrhea virus (BVDV) type 1 & 2, and parainfluenza type 3 virus, a virus that affects cattle (PI3V).

• In September 2023, Merck Animal Health announced Mexico launch of swine intradermal vaccine known as Lawsonia. 

Mexico Veterinary Medicine Market Report Scope

Mexico Veterinary Medicine Market Report Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2018 to 2030. For the purpose of this report, Grand View Research has segmented the Mexico Veterinary Medicine market report based on animal type, product, Route of administration, and distribution channel.

• Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Production Animals

    • Poultry

    • Pigs

    • Cattle

    • Sheep & Goats

    • Others

  • Companion Animals

    • Dogs

    • Cats

    • Horses

    • Others

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Biologics

    • Vaccines

      • Modified/ Attenuated Live

      • Inactivated (Killed)

      • Other Vaccines

    • Other Biologics

  • Pharmaceuticals

    • Parasiticides

    • Anti-infectives

    • Anti-inflammatory

    • Analgesics

    • Others

  • Medicinal Feed Additives

• Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

  • Oral

  • Injectable

  • Topical

  • Other Routes

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Veterinary Hospitals & Clinics

  • E-commerce

  • Offline Retail Stores

  • Others