India Veterinary Healthcare Market Size (2024 - 2029)

Veterinary in India Market Analysis

The India Veterinary Healthcare Market size is estimated at USD 1.25 billion in 2024, and is expected to reach USD 1.89 billion by 2029, growing at a CAGR of 8.63% during the forecast period (2024-2029).

India has been in lockdown and has suspended trade with other countries and implemented travel restrictions, which affected the import and export activities of veterinary medicines and diagnostics, leading to a decline in sales of many products. Supply disruption and medicine shortages of veterinary medicines have been observed in several regions due to the temporary lockdowns of manufacturing sites, export bans, increased demands for medicine for the treatment of COVID-19, and the stockpiling of medicines by individuals. However, the government has been taking up measures to mitigate the supply of medicines and veterinary practices during the COVID-19 pandemic. For instance, in March 2020, the Government of India stated that all states must ensure that medical help for animals is treated as an essential service, which does not get suspended during COVID-19 lockdowns across the country. Therefore, it is observed that the veterinary healthcare market was significantly hampered due to the COVID-19 pandemic. However, currently, the market has regained its pre-pandemic nature in terms of demand for veterinary products and is expected to witness strong growth in the coming years.

In India, there has been an increasing activity observed across veterinary hospitals. For instance, in August 2022, DCC (Dogs Cats & Companions) Animal Hospital, one of India's leading multi-specialty state-of-the-art pet care chains expanded with a new full-service medical and grooming center in New Delhi, India. Among the developing countries, India has the highest zoonotic disease burden, with widespread illness and death. Hence, owing to these factors, the market is expected to grow in the forecast period.

In addition, there is a growing focus from the Indian government on the betterment of livestock which is fueling the market growth. For instance, in July 2022, the Union Minister for Fisheries, Animal Husbandry, and Dairy, Shri Parshottam Rupala, recommended that the cooperative movement in the livestock industry be strengthened. In addition, there has been the implementation of various programs and schemes in India in the favor of veterinary health. For instance, some of the programs implemented currently by the Government of India include Assistance to States for Control of Animal Diseases (ASCAD), National Animal Disease Reporting System (NADRS), Establishment & Strengthening of Veterinary Hospital and Dispensaries (ESVHD), and Foot and Mouth Disease Control Program (FMD-CP), among others. Hence, with the involvement of the government in veterinary healthcare and the rising awareness about the same, the market studied is expected to witness strong growth in the coming years.

However, the use of counterfeit medicine and increasing costs of animal testing and veterinary services are some of the factors restraining market growth in the country.

Veterinary in India Industry Segmentation

As per the scope of the report, veterinary healthcare can be defined as the science associated with the diagnosis, treatment, and prevention of diseases in animals. The increasing importance of the production of livestock animals is generating growth in the veterinary healthcare market. The Indian veterinary healthcare market is segmented by Product (Therapeutics and Diagnostics), and Animal Type (Dogs and Cats, Horses, Ruminants, Swine, Poultry, and Other Animals). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.