According to a new report by Grand View Research, Inc., the veterinary medicine market in India is projected to reach a value of USD 3.55 billion by 2030, expanding at a compound annual growth rate (CAGR) of 10.3% during the forecast period. This substantial growth is being fueled by several critical factors, including the introduction of new veterinary products, a rise in outbreaks of animal diseases, increasing demand for animal protein, and greater awareness of the importance of animal healthcare across the country.
Additional drivers contributing to the market's expansion include advancements in veterinary medical research, regulatory support, and proactive government initiatives aimed at strengthening animal health infrastructure. A notable example of such support occurred in August 2023, when the G20 Pandemic Fund approved a USD 25 million proposal from India. The purpose of this funding is to enhance animal health security, which is crucial for effective pandemic preparedness and response, acknowledging the role of animal-borne diseases in global health risks. https://www.grandviewresearch.....com/industry-analysi