Veterinary Pharmacovigilance Market

Veterinary Pharmacovigilance Market by Product Type (Drugs, Vaccines, Feed Additives) and Application (Livestock, Companion Animals) – Trends, Growth & Forecast 2025-2035

Published Date: May - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Animal Health and Nutrition | Format: Report available in PDF / Excel Format

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Veterinary Pharmacovigilance Market Size

Veterinary Pharmacovigilance Market size was valued at USD 814.4 million in 2023 growing at a CAGR of 12.7% from 2024 to 2032. The increased incidence of all types of animal diseases, infectious and non-infectious, requires increased surveillance and safety for veterinary medicines and treatments.

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Disease outbreaks such as bird flu and African swine fever threaten animals seriously. That is why we must watch closely the drugs we use to treat them in order to ensure they are effective and safe. Did you know that one in five farm animals dies from disease each year, as reported by the World Organization for Animal Health? The Australian government even estimated that foot-and-mouth disease breakout could cost the farmers as much as $80 billion in 10 years! With so many animals falling ill and pet owners taking more interest in the health of their furry friends, demand for animal healthcare products should continue to increase.

Veterinary pharmacovigilance generally refers to the science and activities on monitoring and assessment of adverse events and enhancing the safety of veterinary medicinal products. The regulatory authorities play a coordinating role within the pharmacovigilance system and runs services and processes to assist veterinary pharmacovigilance activities.

Veterinary Pharmacovigilance Market Report Attributes
Report Attribute Details
Base Year 2023
Veterinary Pharmacovigilance Market Size in 2023 USD 814.4 Million
Forecast Period 2024 to 2032
Forecast Period 2024 to 2032 CAGR 12.7%
2032 Value Projection USD 2.4 Billion
Historical Data for 2021 - 2023
No. of Pages 208
Tables, Charts & Figures 337
Segments covered Solution, Animal Type, Type, End-user, and Region
Growth Drivers
  • Rising incidence of zoonotic disease
  • Increasing pet ownership
  • Technological advancement in adverse drug reaction (ADR) reporting systems
  • Growing awareness of animal health
Pitfalls & Challenges
  • Data security and privacy concerns
  • Limited awareness and education

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Veterinary Pharmacovigilance Market Trends

Pets are more popular than ever before, with increasing numbers of families opening their doors to furry friends. From the US, Brazil, the EU, and China's cuddly dogs and cats to the global trend towards pet ownership, it's estimated that well over half the globe has a much-loved pet. In the US, for example, this affection for our furry companions has become even more intense. In 2021, 70% of families had a pet, a higher percentage than when only a few years ago the figure was 68%. With this trend towards regarding pets as part of the family, pet healthcare expenditure has increased, including ensuring veterinary medicines are safe. Due to this, demand for services ensuring monitoring of safety of veterinary drugs has exploded. This is what is fueling the expansion of the veterinary pharmacovigilance market, where more and more individuals are investing in guaranteeing the health of their much-loved pets.

Veterinary Pharmacovigilance Market Analysis

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Based on the solution, the market is classified into software and services. The service segment is further bifurcated into core and consulting services. The services segment dominated the market with revenue of USD 516.7 million in 2023.

  • Pharmaceuticals and veterinary clinics are now more frequently making use of outsourcing services as a way to improve their processes. The CROs offer effective means of monitoring, managing, and reporting adverse drug reactions (ADRs) in animals.
  • In addition, services like ICSR management, aggregate safety reports, risk management plan, signal detection, and other related integrated services are employed to learn the side effects from drugs and vaccines. Pharmacovigilance services help at every step of drug development, ranging from detection to commercialization, thus driving the size of the market.
  • In addition, veterinary pharmacovigilance software tends to be integrated with other platforms like electronic health records (EHR), laboratory information management systems (LIMS), and practice management systems (PMS). Such integration enables smooth data exchange and enhances the overall efficiency of pharmacovigilance operations.

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Based on the animal type, the veterinary pharmacovigilance market is classified into companion animals, livestock animals, and other animal types. The companion animals segment dominated the market with market share of 64.1% in 2023.

  • Ongoing developments in veterinary medicine such as the generation of novel drugs and therapies aimed at companion animal care require stringent pharmacovigilance systems to track the safety and efficacy of such products, thus propelling market growth.
  • In addition to this, increasing prevalence of zoonotic diseases that are transmissible between animals and humans, emphasizes the need to monitor veterinary pharmaceuticals for maintaining animal health safety and hence drives the market growth.

Based on type, the veterinary pharmacovigilance market is classified into in-house, and outsourced. The in-house services segment is expected to reach USD 1.6 billion by end of 2032.

  • In-house pharmacovigilance services are cheaper in the long term than outsourcing. The costs of recurring third-party service providers are avoided by companies and utilize existing infrastructure and resources, thereby enhancing the segmental growth.
  • Furthermore, in-house services offer more control over pharmacovigilance operations. Businesses can design processes and systems according to their own requirements so that the distinctive features of their products and markets are covered.
  • In addition, managing pharmacovigilance internally enables businesses to have tighter control over sensitive information, limiting exposure to data breaches and ensuring data protection conformity.

Based on end-user, the veterinary pharmacovigilance market is classified into veterinary hospitals, veterinary companies, academic & research institutes. The veterinary companies’ segment is expected to exhibit 13% CAGR between 2024 - 2032.

  • Advances in biotechnology and pharmaceuticals have led to the development of innovative veterinary drugs and vaccines, increasing the need for effective pharmacovigilance systems to monitor these new products. Also, digital tools and software for data collection and analysis in pharmacovigilance enhance the efficiency and accuracy of safety monitoring.
  • Furthermore, the expansion of veterinary pharmaceutical companies into emerging markets increases the need for comprehensive pharmacovigilance systems to comply with diverse regulatory requirements and monitor product safety across different regions. This integration supports better care coordination and continuity. 

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In 2023, North America secured a substantial market share of 46.2% in the global veterinary pharmacovigilance market and is expected to dominate throughout the forecast period.

  • The rise in pet ownership has led to higher spending on veterinary care and products. This increase in expenditure includes a greater focus on the safety and efficacy of veterinary drugs, thus boosting the need for pharmacovigilance.
  • Moreover, regulatory bodies including the U.S. Food and Drug Administration (FDA) and the Canadian Food Inspection Agency (CFIA) have stringent requirements for the monitoring of veterinary drugs post-approval. This regulatory framework necessitates robust pharmacovigilance systems to ensure compliance, thereby driving market growth.
  • Furthermore, the growing popularity of pet insurance policies often includes coverage for adverse drug reactions and other health issues. This trend supports the growth of the pharmacovigilance market as insurers demand thorough monitoring and reporting systems, Thus, the aforementioned factor contributed to North America's dominance in the market.

Germany to experience the highest growth rate in the Europe veterinary pharmacovigilance market.

  • The EMA mandates strict pharmacovigilance requirements for veterinary medicines across the European Union including Germany. Compliance with these regulations ensures the safety and efficacy of veterinary drugs, thereby driving the market growth.
  • Moreover, the adoption of digital technologies such as electronic reporting systems and databases for adverse event monitoring, enhances the efficiency of pharmacovigilance activities. These advancements support market growth by improving data collection and analysis, thereby fostering the country market growth.

The Asia Pacific veterinary pharmacovigilance treatment market is expected to grow with a significant CAGR of 13.1% during the forecast period.

  • Governments in the region are implementing regulations for the approval and monitoring of veterinary drugs. Regulatory bodies such as the Australian Pesticides and Veterinary Medicines Authority (APVMA) and the National Medical Products Administration (NMPA) in China are emphasizing the importance of pharmacovigilance.
  • Moreover, significant investments in research and development by pharmaceutical companies to develop new veterinary drugs are driving the need for comprehensive pharmacovigilance systems to ensure drug safety.

Veterinary Pharmacovigilance Market Share

The market is characterized by intense competition among key players aiming to expand their market presence. Leading companies are focusing on strategic initiatives such as mergers, acquisitions, and partnerships to strengthen their market position. These efforts are aimed at enhancing their service offerings, expanding their geographic reach, and investing in advanced technologies.

Veterinary Pharmacovigilance Market Companies

Prominent players operating in the veterinary pharmacovigilance industry are as mentioned below

Veterinary Pharmacovigilance Industry News

  • In January 2022, EMA launched an improved pharmacovigilance system for veterinary medicinal products. EVVet amended in line with the veterinary medicinal products regulation and comply with the reporting requirements developed by the veterinary conference on harmonization (VICH). This helped the regulatory bodies in better regulation of veterinary medicinal products.

The veterinary pharmacovigilance market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 - 2032 for the following segments

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Market, By Solution

  • Software
  • Services
    • Core services
      • Signal detection
      • ICSR case processing
      • Risk management
      • Aggregate reporting
      • Other core services
    • Consulting services
      • Safety database implementation
      • PV strategy & operating model
      • Audit risk analysis
      • Other consulting services

Market, By Animal Type

  • Companion animals
  • Livestock animals
  • Other animal types

Market, By Type

  • In-house
  • Outsourced

Market, By End-user

  • Veterinary hospitals
  • Veterinary companies
  • Academic & research institutes

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Netherlands
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • South Africa
    • Saudia Arabia
    • UAE
    • Rest of Middle East and Africa

 

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Table of Content

  1. Executive Summary
    1.1. Market Overview
    1.2. Key Highlights
    1.3. Market Outlook and Forecast (2024–2030)
    1.4. Analyst Recommendations

  2. Introduction to Veterinary Pharmacovigilance
    2.1. Definition and Scope
    2.2. Importance and Objectives
    2.3. Evolution of Veterinary Pharmacovigilance
    2.4. Regulatory Background

  3. Research Methodology
    3.1. Research Approach
    3.2. Data Sources
    3.3. Market Estimation Methodology
    3.4. Assumptions and Limitations

  4. Market Dynamics
    4.1. Market Drivers
    4.2. Market Restraints
    4.3. Opportunities for Growth
    4.4. Key Challenges
    4.5. Emerging Trends

  5. Market Segmentation Analysis
    5.1. By Product Type
        5.1.1. Antiparasitic Drugs
        5.1.2. Anti-infective Agents
        5.1.3. Anti-inflammatory Drugs
        5.1.4. Others
    5.2. By Animal Type
        5.2.1. Companion Animals
        5.2.2. Livestock Animals
    5.3. By Reporting Method
        5.3.1. Voluntary Reporting
        5.3.2. Mandatory Reporting
    5.4. By End User
        5.4.1. Veterinary Clinics
        5.4.2. Veterinary Hospitals
        5.4.3. Pharmaceutical Companies
        5.4.4. Regulatory Authorities

  6. Regional Market Analysis
    6.1. North America
    6.2. Europe
    6.3. Asia Pacific
    6.4. Latin America
    6.5. Middle East & Africa

  7. Regulatory Framework
    7.1. Global and Regional Guidelines
    7.2. Key Regulatory Bodies
    7.3. Reporting and Monitoring Systems
    7.4. Compliance Requirements

  8. Technology & Innovation Analysis
    8.1. Pharmacovigilance Software Solutions
    8.2. Role of AI and Big Data
    8.3. Mobile and Cloud-based Reporting Tools

  9. Competitive Landscape
    9.1. Market Share Analysis
    9.2. Competitive Benchmarking
    9.3. Company Profiles
        9.3.1. Zoetis Inc.
        9.3.2. Boehringer Ingelheim
        9.3.3. Elanco Animal Health
        9.3.4. Merck Animal Health
        9.3.5. Vetoquinol S.A.
        9.3.6. Other Notable Players
    9.4. Recent Strategic Developments

  10. Market Forecast
    10.1. Revenue Projections by Segment
    10.2. Regional Forecasts
    10.3. Market Opportunity Analysis
    10.4. Risk Assessment and Mitigation

  11. Stakeholder Analysis
    11.1. Role of Veterinarians
    11.2. Role of Regulatory Agencies
    11.3. Role of Pharmaceutical Companies

  12. Conclusion and Strategic Insights

  13. Appendix
    13.1. Glossary
    13.2. Abbreviations
    13.3. References
    13.4. Survey Methodology

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