India Veterinary Medicine Market To Reach $4.17 Billion By 2033

India Veterinary Medicine Market Growth & Trends

The India veterinary medicine market size is expected to reach USD 4.17 billion by 2033, registering a CAGR of 10.23% from 2025 to 2033, according to a new report by Grand View Research, Inc. The market growth is driven by new product releases, an increase in animal illness outbreaks, demand for animal protein, and awareness of the value of animal healthcare. Other factors fueling the market's expansion are development in veterinary medicine, regulatory assistance, and government initiatives in India. In August 2023, the G20 Pandemic Fund approved India's USD 25 million proposal to improve animal health security for pandemic preparedness and response.

Veterinary medicines are crucial for disease prevention, livestock health, and animal-derived food production. However, low biosecurity and traditional husbandry techniques pose risks of human transmission due to animal contact. Competition in the market is fueled by the presence of small and large enterprises offering a wide range of veterinary medications for various species and market sectors.

In September 2023, Boehringer Ingelheim India entered into a MoU with the Pet Practitioners Association of Mumbai to combat rabies in the Greater Mumbai area. Boehringer Ingelheim India has committed to donate 30,000 doses of its anti-rabies vaccine Rabisin (inactivated and adjuvant rabies glycoproteins) for the vaccination drive and conduct a month-long awareness drive in partnership with PPAM in schools and communities to educate the public about rabies prevention and the human-animal bond.

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India Veterinary Medicine Market Report Highlights

• The injectable segment dominated the market with a revenue share of around 49% in 2024. Other routes of administration include controlled-release implants and inhalational routes. This segment is predicted to grow fastest from 2025 to 2033.

• The pharmaceuticals segment dominated the market with a revenue share of over 68% in 2024. The biologics segment is expected to grow at the fastest CAGR of 11.2% from 2025 to 2033.

• The production animal segment accounted for the largest revenue share, around 60% in 2024. The companion animal segment is expected to grow at the fastest CAGR of 12.1% from 2025 to 2033

• The veterinary hospitals & clinics segment had the largest revenue share in 2024. The e-commerce segment is expected to grow at the fastest CAGR of 11.48% during the forecast period.

India Veterinary Medicine Market Segmentation

Grand View Research has segmented India veterinary medicine market report based on product, animal type, route of administration, and distribution channel:

India Veterinary Medicine Animal Type Outlook (Revenue, USD Million, 2021 - 2033)

• Production Animals

  • Poultry

  • Pigs

  • Cattle

  • Sheep & Goats

  • Others

• Companion Animals

  • Dogs

  • Cats

  • Horses

  • Others

India Veterinary Medicine Product Outlook (Revenue, USD Million, 2021 - 2033)

• Biologics

  • Vaccines

    • Modified/ Attenuated Live

    • Inactivated (Killed)

    • Other Vaccines

  • Other Biologics

• Pharmaceuticals

  • Parasiticides

  • Anti-infectives

  • Anti-inflammatory

  • Analgesics

  • Others

• Medicated Feed Additives

India Veterinary Medicine Route of Administration Outlook (Revenue, USD Million, 2021 - 2033)

• Oral

• Injectable

• Topical

• Others

India Veterinary Medicine Distribution Channel Outlook (Revenue, USD Million, 2021 - 2033)

• Veterinary Hospitals & Clinics

• E-commerce

• Offline Retail Stores

• Others

List of Key Players of India Veterinary Medicine Market

• Boehringer Ingelheim International GmbH

• Zoetis

• IDEXX Laboratories, Inc.

• Merck & Co., Inc.

• Elanco

• Hester Biosciences Limited

• Ceva Santé Animale

• Phibro Animal Health Corporation

• Virbac

• Dechra Pharmaceuticals Plc