Mexico Veterinary Medicine Market To Reach $2.65 Billion By 2030

Mexico Veterinary Medicine Market Growth & Trends

The Mexico veterinary medicine market size is expected to reach USD 2.65 billion by 2030, registering a CAGR of 8.37% over the forecast period, according to a new report by Grand View Research, Inc. The primary drivers of market growth include the increasing consumption of meat and dairy products, initiatives undertaken by notable players, and technological advancements. Mexico's meat consumption is predicted to increase over the next ten years, according to USDA Agricultural Projections till 2033. In 2033, it is anticipated that Mexico will consume 82.5 kg of beef, pig, and poultry per person. From 38.3 kg per person in 2023 to 43.8 kg per person in 2033, poultry consumption is expected to rise the greatest.

The veterinary medicine market in Mexico is significantly influenced by the rising R&D activities and strategic initiatives undertaken by key players in the industry. Tailored marketing campaigns and distribution agreements help key players ensure the availability of veterinary products across rural and urban areas. For instance, in May 2024, At the World Buiatrics Congress 2024, which took place in Cancun, Mexico between May 20 to 24, Merck & Co., Inc. presented its array of innovative techniques to improve ruminant health.

Government initiatives, such as the launch of a new Veterinary Pharmacovigilance System, play a crucial role in enhancing the safety, quality, and efficacy of animal medications. In Mexico, such initiatives can significantly impact the Mexico veterinary medicine market by creating new opportunities. For instance, in August 2024, to improve the efficacy, safety, and quality of animal pharmaceuticals, the Ministry of Agriculture and Rural Development has introduced a new Veterinary Pharmacovigilance System. The National Service for Health, Safety, and Agri-Food Quality (SENASICA) created the system with the aim of identifying, evaluating, and reducing risks related to veterinary medications that are supplied in Mexico. The General Directorate of Animal Health oversees the system, which gathers information from administrators of veterinary products in order to track and stop animal adverse responses during the drug administration process. This program aims to guarantee the production of healthy and secure food and encourage the safe use of veterinary medications.

Moreover, the high costs associated with animal healthcare indeed pose a challenge to the growth of the Mexico veterinary medicine market in Mexico. Veterinary treatments, particularly for chronic conditions, surgeries, or advanced diagnostic procedures, can be prohibitively expensive. According to an article published by Ours Abroad LLC in November 2024, President Claudia Sheinbaum has addressed about the excessive veterinary expenses that Mexican pet owners have to bear, which forces them to make tough choices about their pets' care. The typical consultation costs between 300 and 800 pesos, which is a major financial burden for many families, according to reporter Gustavo García. This excessive expense frequently results in circumstances when pet owners are unable to pay for the required care, and in extreme cases, are compelled to sacrifice their animals for lack of funds.

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Mexico Veterinary Medicine Market Report Highlights

• Based on product, pharmaceuticals held the dominant share of the market in 2024. Market expansion is driven by rising demand for potent drugs as a result of the increasing incidence of various veterinary illnesses.

• Based on animal type, production animals dominated the market in 2024. The chicken business has expanded dramatically in recent years due to the growing popularity of protein-based foods.

• Based on route of administration, injectable segment dominated the market in 2024. Other route of administration is anticipated to grow at the fastest CAGR over the forecast period.

• Based on distribution channel, the veterinary hospitals & clinics segment dominated the market in 2024. This can be attributed to the expansion of 24/7 veterinary hospitals, such as Mosaic Animal Emergency and Specialty in Mexico.

Mexico Veterinary Medicine Market Segmentation

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

Mexico Veterinary Medicine Animal Type Outlook (Revenue, USD Million, 2018 - 2030)

• Production Animals

  • Poultry

  • Pigs

  • Cattle

  • Sheep & Goats

  • Others

• Companion Animals

  • Dogs

  • Cats

  • Horses

  • Others

Mexico Veterinary Medicine 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

Mexico Veterinary Medicine Route Of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Oral

• Injectable

• Topical

• Other Routes

Mexico Veterinary Medicine Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Veterinary Hospitals & Clinics

• E-commerce

• Offline Retail Stores

• Others

List of Key Players in the Mexico Veterinary Medicine Market

• Zoetis Inc.

• Boehringer Ingelheim International GmbH

• Merck & Co., Inc.

• Elanco

• Dechra Pharmaceuticals PLC

• Ceva Santé Animale

• Phibro Animal Health Corporation

• Virbac

• Bimeda Corporate

• Biogénesis Bagó

• Ourofino Saude Animal