The over-the-counter (OTC) veterinary drugs market is expected to expand its roots at a steady CAGR of 7.9% during the forecast period. The market is likely to hold a revenue of USD 8.8 billion in 2023 while it is anticipated to cross a value of USD 19.01 billion by 2033.
The research report on the over-the-counter (OTC) veterinary drugs market states that the higher animal adoption, no need for a prescription, and easy availability is flourishing the market growth. Furthermore, these veterinary medicines can be taken if one follows the directions printed on the drug packaging. The extended list of drugs used on animals and humans along with the allergy medicine for dogs over the counter is garnering the market growth. Alongside this, the higher safety provided by the prescribed drugs has a high price and the cost of a prescription.
The increasing number of cases of pet issues like ticks, pain, viral, and flea fever are being diagnosed and treated with these over-the-counter veterinary drugs. Governments across the globe are pushing the level of support they provide to pet care due to the expansion of the pet industry. For example, the Animal Welfare Board of India has deployed different schemes for the benefit of animal owners in the nation.
Over-the-counter (OTC) veterinary drugs market analysis explains that the availability of these OTC veterinary drugs on e-commerce websites is garnering market growth. The rising awareness around antibiotic resistance has pushed the demand for OTC veterinary drugs. The joint efforts of the government and the organizations are building shelters for stray animals. The pentation of medical services in veterinary spaces along with the advent of antibacterial injection and expanding research and development facilities.
| Attributes | Details |
|---|---|
| Over-The-Counter (OTC) Veterinary Drugs Market CAGR (2023 to 2033) | 7.9% |
| Over-The-Counter (OTC) Veterinary Drugs Market Size (2023) | USD 8.8 billion |
| Over-The-Counter (OTC) Veterinary Drugs Market Size (2033) | USD 19.01 billion |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Short-term Growth (2023 to 2026): The increased number of pet adoption, pet humanization, and animal shelter homes is expected to flourish the market growth. The easy availability and expanding veterinary medicines are also expected to fuel the demand for over-the-counter (OTC) veterinary drugs. With these wide ranges of applications, the market is expected to hold USD 8.8 billion in 2023 while it is anticipated to reach USD 11.05 billion by 2026.
Mid-term Growth (2026 to 2029): The rising population of aware and animal-friendly people is building pet spaces and making other people aware of pet health. Extending research and development programs are weaponizing the OTC veterinary drugs with anti-fungal, and anti-bacterial properties. This takes a market value from USD 11.05 billion in 2026 to a value of USD 13.88 billion in 2029.
Long-term Growth (2029 to 2033): Veterinarians’ preference for wellness, rising awareness of antibiotic resistance, and high demand for pet supplements are some of the key drivers that are expected to fuel the market growth in the period. Thus, the market is anticipated to thrive at a steady CAGR of 7.9% between 2023 and 2033.
The surging sales of over-the-counter (OTC) veterinary drugs are fueled by the availability of OTC animal drugs on e-commerce platforms, affordable rates, and prescription-free drugs. Furthermore, the ease in regulations and the advent of anti-biotic drugs are flourishing the demand for over-the-counter (OTC) veterinary drugs.
The rise in personal disposable income along with the enhanced lifestyle has garnered market growth. The clean-label and easily manufactured drugs are spreading in the market for better reach. Government veterinary clinics also consume a big chunk of the OTC veterinary market.
The pet parents are looking for medicines that improve the feeding capacity of their pets. The availability of customized medications from compounding pharmacies is another factor propelling the demand in the market. Innovational ideas like flavored soft chews are getting popular in the market space.
Principal Consultant
Some of the major restraints for over-the-counter (OTC) veterinary drugs are restrictive government policies and longer approval status. Furthermore, the specialized spaces for animals that deliver prescribed drugs for animals are also limiting the market growth.
| Region/Country | Revenue Share % (2022) |
|---|---|
| United States | 32.2% |
| Germany | 7.9% |
| Japan | 4.7% |
| North America | 35% |
| Europe | 32% |
Rising Pet Adoption, Increased Pet Adoption, and Availability of Pet Insurance to Drive OTC Veterinary Drugs Market
The United States over-the-counter (OTC) Veterinary Drugs market leads in terms of market share in the North American region. The North American region held a market share of 35% in 2022. Though, the United States market held a market share of 25.6% in the global market.
The flourishing pet care industry along with a rising number of online pharmacy platforms is garnering the demand for OTC veterinary drugs. The increasing number of pet insurance companies along with their aggressive marketing efforts are projected to raise product awareness. These products are fueling pet owners to adopt OTC veterinary drugs.
The Advanced Drug Processing, Enhanced Marketing, and Clean-label Packaging are Garnering the Regional Growth
The German market held a market share of 7.9% in 2022 while the European Union held a market share of 32%. The increased rate of pet adoption and pet humanization are flourishing pushing businesses to expand the market element. For example, the Deutsche Hundewesen (VDH) canine association tapped a 20% hike in the sale of pet dogs in 2020. The increased consultation of these OTC veterinary drugs is also adding value to the market growth.
The presence of major OTC veterinary drug producers in the region is also garnering market growth. These producers involve Merck Animal Health, Boehringer Ingelheim, and Virbac S.A. This delivers a higher availability of products in the Country, thereby recording such a higher share in the European Market.
The Indian over-the-counter (OTC) veterinary drugs market thrives at a CAGR of 8.30% between 2023 and 2033. The rapid growth is attributed to the rising number of dual-income households, increased urban settings, and higher pet humanization. The growth is also attributed to the increased number of veterinary drug producers.
Rising pet parents’ awareness of the benefits of companion animals is fuelling the demand for over-the-counter (OTC) veterinary drugs in India. The managing director of Mars Petcare India states that the brand’s business grew 2X from 2019 to 2021, primarily due to the increasing trend of pet adoptions during the pandemic.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Category | By Dosage Form |
|---|---|
| Leading Segment | Oral |
| Market Share (2022) | 76.40% |
| Category | By Sales Channel |
|---|---|
| Leading Segment | Online Pharmacies |
| Market Share (2022) | 40% |
Based on dosage form, oral form leads as it held a major market share of 76.40% in 2022. The growth of this segment is due to higher consumption of consumables. The lower pain proposition along with the effective results are making the segment thrive. Furthermore, the topical drug type is the second most used drug type for animals.
Based on the sales channel, the online pharmacies segment lead as it held a market share of 40% in 2022. The growth is attributed to higher discounts, smooth shipping, and higher availability of OTC veterinary drugs. Rising demand for home delivery of all OTC drugs among pet owners has given rise to online pharmacies in the global market.
The key players in the market focus on getting a higher number of FDA approvals along with extending their research and development activities. Apart from the regulatory approvals, the tie-ups and collaborations also play an important part in the development.
How can Over-The-Counter (OTC) Veterinary Drugs Vendors Providers Scale their Businesses in the Market?
Market players in the market are working on three major strategies.
Market Developments
Through 2033, the market to develop at a CAGR of 7.9%.
By 2033, the market to have expanded to USD 19.01 billion.
In 2023, the market to reach a worth of USD 8.8 billion.
The Indian market can expand at an 8.30% CAGR between 2023 and 2033.
The chief constraints are stringent government laws and a longer approval process.
The United States market contributed to 25.6% of the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 5.1. NSAIDs 5.2. Antihistamines 5.3. Decongestants & Bronchodilators 5.4. Antibacterial 5.5. H2 Receptor Antagonists 5.6. Nutrients & Supplements 5.7. Glucocorticoids 5.8. Lubricant eye drops & artificial tears 5.9. Anti-parasitic 5.10. Antidiarrheal agents 5.11. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 6.1. Oral 6.2. Injectable 6.3. Topical 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Veterinary Hospitals 7.2. Veterinary Clinics 7.3. Retail Pharmacies 7.4. Hypermarkets & Supermarkets 7.5. Online Pharmacies 7.6. Veterinary Shops 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Zoetis 16.2. Boehringer Ingelheim 16.3. Virbac S.A. 16.4. Hester Biosciences Ltd. 16.5. Merck Animal Health 16.6. Elanco Animal Health 16.7. Ceva Santé Animale 16.8. Vetoquinol S.A. 16.9. Phibro Animal Health Corporation 16.10. Dechra Pharmaceuticals PLC 16.11. Kyoritsu Seiyaku Corporation 16.12. AlphaVet Animal Health Ltd. 16.13. AdvaCare Pharma 16.14. Alphafacts Health Solution 16.15. Bimeda Animal Health Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
Explore Healthcare Insights
View Reports
Over-The-Counter (OTC) Veterinary Drugs Market
