Claim your 30% discount on Global Market Reports with code ONLINE30. Limited time only.

What Is the Forecast for the Veterinary Pharmacovigilance Market Growth in 2025?

In recent times, the veterinary pharmacovigilance market has seen substantial growth. The market size is predicted to rise from $0.81 billion in 2024 to $0.92 billion in 2025, boasting a compound annual growth rate (CAGR) of 13.3%. Factors such as growing knowledge about animal health, an increase in the companion animal population, escalating demand for livestock products, the development of veterinary services, and a high incidence of zoonotic diseases have contributed to the historical period growth.

What Is the Forecast for the Veterinary Pharmacovigilance Market Size Through 2029?

The market size of veterinary pharmacovigilance is set to witness a substantial expansion over the forthcoming years, escalating to $1.5 billion in 2029 with a 13.1% compound annual growth rate (CAGR). The projected growth within this phase can be linked to increasing pet ownership and expenditure, elevated spending on veterinary services, a heightened emphasis on animal wellbeing, the advancement of telemedicine in veterinary services, and an escalated demand for personalized veterinary care. The period also sees major trends like the utilization of digital reporting systems, growth of telemedicine services in veterinary care, data security through blockchain integration, and the creation of cloud-based pharmacovigilance platforms.

Download The Free Sample Report Here:

https://www.thebusinessresearchcompany.com/sample.aspx?id=21002&type=smp

What are the Key Market Players in Veterinary Pharmacovigilance Market and How They’re Evolving?

Major companies operating in the veterinary pharmacovigilance market are Accenture PLC, Zoetis Inc, Boehringer Ingelheim Animal Health, Elanco Animal Health Incorporated, Covetrus Inc, IDEXX Laboratories, Inc., Ceva Santé Animale, Virbac SA, Merck Animal Health, Huvepharma EOOD, Norbrook Laboratories Ltd, ProPharma Group, ArisGlobal LLC, PQE Group, Chanelle Pharma Group Ltd, Clinvet International, Ennov SAS, Sarjen Systems Pvt. Ltd, PharSafer Associates Ltd, Medfiles Oy, Azierta Contract Science Support Consulting, Knoell Germany GmbH, Triveritas Ltd, Leon Research, Biologit, Indivirtus Group

What Are the Primary Growth Drivers in the Veterinary Pharmacovigilance Market?

The escalating need for health and medical products for animals is predicted to accelerate the expansion of the veterinary pharmacovigilance market in the future. These goods, including food, medications, and grooming tools, are designed to sustain the welfare and health of pets. The intensifying need for such products is motivated by a rise in pet ownership, developments in veterinary medicine, and the requirement for heightened livestock productivity. The increasing awareness of animal welfare and a greater prevalence of animal diseases also heighten the demand. Veterinary pharmacovigilance in pet care maintains the safety and effectiveness of pet medications by monitoring any adverse effects and ensuring regulatory adherence. For example, in March 2024, the Republic of Estonia’s Ravimiamet, a national regulatory body based in Estonia, reported that the veterinary medicinal products sector grew by 6.9% in 2023, amounting to 18.6 million euros, an increase from 17.4 million euros in 2022. Consequently, the escalating need for health and medical products for animals will boost the expansion of the veterinary pharmacovigilance market.

Request For A Customized Report:

https://www.thebusinessresearchcompany.com/customise?id=21002&type=smp

What Are the Leading Segments in the Global Veterinary Pharmacovigilance Industry?

The veterinary pharmacovigilance market covered in this report is segmented –

1) By Type: In House; Outsourced

2) By Solution: Software; Services

3) By Product: Biologics; Anti Infectives; Other Products

4) By Animal Type: Companion Animals; Livestock Animals; Other Animal Types

5) By End User: Veterinary Hospitals; Veterinary Companies; Academic And Research Institutes

Subsegments:

1) By In House: Internal Pharmacovigilance Departments; In-House Monitoring And Reporting Systems; Veterinary Adverse Event Management Software

2) By Outsourced: Third-Party Pharmacovigilance Services; Contract Research Organizations (CROs) For Pharmacovigilance; Pharmacovigilance Consulting And Support Services

What Are the Key Market Trends in the Veterinary Pharmacovigilance Industry?

Leading corporations in the veterinary pharmacovigilance market are concentrating their efforts on fortifying regulatory mechanisms through advancements in data analytics, such as recording of adverse events (REAS) and compiling safety reports, to guarantee the safety and effectiveness of veterinary medications. Adverse event reporting and safety report preparation incorporate the tasks of recording and examining undesirable outcomes from the usage of veterinary pharmaceuticals, thereby ensuring their safety and adherence to regulatory norms. For example, in August 2024, the Ministry of Agriculture and Rural Development, a government agency based in Mexico, initiated a system for veterinary pharmacovigilance. This system, created by SENASICA, serves as a surveillance tool to maintain the safety, quality, and proficiency of veterinary pharmaceuticals in Mexico. The system gathers data about negative reactions from administrators of veterinary products, including pharmaceutical companies, distributors, veterinary hospitals, and veterinarians, with the aim of identifying, evaluating, and mitigating the risks linked with these medications. This system includes the veterinary pharmacovigilance guide (REAS) for keeping records of adverse reactions and monitoring potency, residue boundaries, and environmental considerations.

Access The Full Report Here:

https://www.thebusinessresearchcompany.com/report/veterinary-pharmacovigilance-global-market-report

What Is the Regional Outlook for the Veterinary Pharmacovigilance Market?

North America was the largest region in the veterinary pharmacovigilance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary pharmacovigilance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase The Full Report Today:

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=21002

This Report Delivers Insight On:

1. How big is the veterinary pharmacovigilance market, and how is it changing globally?

2. Who are the major companies in the veterinary pharmacovigilance market, and how are they performing?

3. What are the key opportunities and risks in the veterinary pharmacovigilance market right now?

4. Which products or customer segments are growing the most in the veterinary pharmacovigilance market?

5. What factors are helping or slowing down the growth of the veterinary pharmacovigilance market?

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Get in touch with us:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 310-496-7795

Europe +44 7882 955267

Asia & Others +44 7882 955267 & +91 8897263534

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

[KClientError] [REQ_ERR: OPERATION_TIMEDOUT] [KTrafficClient] Something is wrong.