The Mexico veterinary medicine market was estimated at USD 1.65 billion in 2024 and is expected to grow at a CAGR of 8.37% from 2025 to 2030. The market's growth is primarily driven by an increase in livestock population, rising pet ownership, growing incidence of zoonotic and chronic diseases, increased R&D investment, strategic initiatives by key industry players, and a surge in meat and dairy product consumption.

Over recent decades, Mexico has seen a steady rise in its livestock population, which further supports market expansion. According to a USDA report dated September 5, 2024, the number of calf crops in Mexico is projected to reach 8.7 million in 2025, reflecting a 1% increase from 2024. This growth is attributed to increased export volumes and falling feed prices observed during 2023 and 2024.

Moreover, pet ownership in Mexico is rapidly evolving. As per a June 2024 article by Pet Food Industry, the demand for pets—particularly dogs and cats—along with related supplies and medicines, is rising due to changing consumer lifestyles. Dogs represent 69.8% of all companion animals in Mexico, highlighting a dominant pet segment. Rising incomes, urbanization, and post-pandemic social shifts have encouraged younger populations to adopt pets for companionship, thereby stimulating demand for veterinary products.

The COVID-19 pandemic posed temporary challenges to the veterinary sector. Around 5% of veterinarians lost their jobs, while 69% faced supply delays or shortages. Routine checkups and in-home visits were significantly reduced across the country. Approximately 33% of veterinarians reported a decline in vaccination rates, and 75% reduced or ended in-person communication with manufacturers. Nonetheless, 92% of veterinarians received support from suppliers, enabling partial recovery and operational continuity.

A significant contributor to rising pharmaceutical and vaccine demand is the increased occurrence of zoonotic diseases. For instance, on November 22, 2024, Mexico’s Chief Veterinary Officer reported a confirmed case of New World screwworm (NWS)—one of the most harmful pests affecting livestock. NWS cases have been spreading northward since 2023, originating in countries like Cuba, Haiti, and the Dominican Republic, and moving through Central America toward Mexico.

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Market Highlights in Brief:

• Market Size (2024): USD 1.65 billion
• Forecasted CAGR (2025–2030): 8.37%
• Livestock Growth (2025): 8.7 million calf crops, +1% YoY
• Pet Ownership: Dogs comprise 69.8% of companion animals
• The production animal segment held a major share of 58.46% of the animal type segment in 2024.
• The pharmaceutical segment accounted for the largest revenue share in 2024.
• The injectable segment in the route of administration continues to dominate the market.
• Veterinary hospitals and clinics dominated the market with a revenue share of 39.91% in 2024.
• The e-commerce segment garnered over 28.22% of the revenue share in 2024.

Key Trend Drivers:

• Increasing zoonotic disease cases
• Post-COVID lifestyle shifts and urbanization
• Rising R&D and facility investments
• Higher meat and dairy consumption

Competitive Landscape:

The Mexico veterinary medicine market remains competitive with dominance by major global and regional players. These companies are employing strategies such as product diversification, strategic alliances, and portfolio expansion to strengthen their positions. A strong emphasis on sustainable, high-quality product development is also driving innovation and market competitiveness.

For example, in June 2023, Dinavet—a reputable pet food and veterinary supply distributor with 60 years of experience—opened a new manufacturing facility in Guanajuato, central Mexico, to reinforce its position in the domestic market.

Key Companies in the Mexico Veterinary Medicine Market:

• Zoetis Inc.

• Boehringer Ingelheim International GmbH

• Merck & Co., Inc.

• Elanco

• Dechra Pharmaceuticals PLC

• Ceva Santé Animale

• Phibro Animal Health Corporation

• Virbac

• Bimeda Corporate

• Biogénesis Bagó

• Ourofino Saúde Animal

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Conclusion & Highlights:

The Mexico veterinary medicine market is witnessing robust growth, supported by rising pet care awareness, livestock expansion, and the growing threat of zoonotic diseases. Strategic investments, infrastructure development, and a supportive ecosystem for veterinary R&D are collectively shaping a strong future outlook for the sector.