Veterinary Pharmacovigilance Market (By Solution: Software, Services; By Type: In-house, Contract Outsourcing; By Animal Type; By Product) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The global veterinary pharmacovigilance market was surpassed at USD 702.09 million in 2022 and is expected to hit around USD 2,490.87 million by 2032, growing at a CAGR of 13.5% from 2023 to 2032.

Key Pointers

• Anti-infectives segment accounted for the largest share of over 45.02% of the market in 2022. 
• Biologics segment is estimated to grow at the fastest rate of over 14.01% in the coming years owing to increasing R&D activities and launch of veterinary vaccines. Increasing number of solutions from several market players is expected to contribute to the market growth. 
• Software segment dominated the market by solution in 2022 while services segment is projected to grow at the fastest CAGR of about 14.04% in the near future. Some of the key drivers attributing to the market shares include increasing transition to electronic reporting systems and adoption of pharmacovigilance services to streamline regulatory compliance workflows. 
• By type, in-house segment held the highest share of the market in 2022. Contract outsourcing segment on the other hand, is anticipated to grow at a notable rate of over 14.1%. This is because of the increasing number of animal health companies, increasing product approvals, and outsourcing of pharmacovigilance operations by small & medium animal health companies to save time and costs.
• Dogs held the largest share of about 50.06% of the market in 2022 by animal type. Others segment comprising livestock animals and horses is projected to grow at the fastest rate of about 15.12% from 2023 to 2032. Factors contributing to the growth include rising consumption of animal derived products, increasing pet population and humanization, awareness among animal owners, and increasing importance of regulatory compliance.
• North America dominated the market by region with a share of about 40.02% in 2022. One of the key drivers is the growing regulatory environment governing the use of veterinary drugs.
• Asia Pacific region is estimated grow at a lucrative CAGR of about 15.1% over the coming years. This is due to the increasing awareness among animal owners about the importance of animal health and the potential risks associated with the use of veterinary drugs.

Report Scope of the Veterinary Pharmacovigilance Market

The market is driven by several factors, including the increasing incidence of adverse drug reactions in animals, the rising adoption of companion animals, and the growing demand for animal-derived food products. Additionally, the increasing regulatory scrutiny and the need for stringent safety standards have led to the development of new pharmacovigilance technologies and tools. Accenture for instance, offers a range of Veterinary Vigilance services that include ICSR Case Processing , VeDDRA Coding, Signal Detection, Literature Management, EvVetMPD support, and Regulatory Intelligence. Growing industry requirements for aggregate reporting, expedited reporting, and management of signals are expected to propel the market growth in the coming years.

The COVID-19 pandemic has had both negative and positive impacts on the animal health market While it has created challenges, it has also created opportunities for companies to adapt and innovate, and has highlighted the importance of monitoring the safety and efficacy of animal health products in the context of global health crises. This supported the awareness and adoption of veterinary pharmacovigilance solutions. The field is an emerging sector within the animal healthcare market. It involves monitoring the safety and effectiveness of veterinary medicines, vaccines, and other animal health products, and reporting any adverse reactions or incidents that may occur. This information is then used to improve the safety and quality of these products and to protect animal health.With the growing concern for animal welfare and the increasing demand for animal-based food products, the market has gained significant attention in recent years.

Initiatives by key market participants is another factor fueling the market growth. In June 2018, Medfiles opened a new office in Japan to cater to European and Japanese clients with a range of services. These include pharmacovigilance, clinical trials, and analytical services, among others. In February 2022, Ennov, a key market player opened a new office in the U.S. in response to successful growth in the North American market. This expanded the company’s global footprint with a focus on building its pharmacovigilance capabilities. Ennov’s pharmacovigilance offerings include case intake, triage, signal detection and management for customers from human and veterinary life sciences market.

Product Insights

Anti-infectives segment accounted for the largest share of over 45.02% of the market in 2022. This was owing to anti-infectives being the most reported products during pharmacovigilance reporting. For example, as per the 2021 Post-MA surveillance report by the French Agency for Food, Environmental and Occupational Health & Safety (ANSES), external parasitics, antimicrobials, internal parasitics, and endectoparasiticides were found to be the most frequently cited product categories in pharmacovigilance reports.

Biologics segment is estimated to grow at the fastest rate of over 14.01% in the coming years owing to increasing R&D activities and launch of veterinary vaccines. Increasing number of solutions from several market players is expected to contribute to the market growth. Azierta Contract Science Support Consulting offers a range of solutions including Vigialzierta-VET pharmacovigilance software, veterinary QPPV support, pharmacovigilance system support, management, and maintenance, signal detection, and other services to customers from animal health industry.

Solution Insights

Software segment dominated the market by solution in 2022 while services segment is projected to grow at the fastest CAGR of about 14.04% in the near future. Some of the key drivers attributing to the market shares include increasing transition to electronic reporting systems and adoption of pharmacovigilance services to streamline regulatory compliance workflows. Initiatives by companies operating in the market is expected to support the market growth in the coming years. In November 2022, for example Ennov, a key market player, helped a long term Animal Health customer transition its pharmacovigilance operations from a local installation to a SaaS cloud environment.

In May 2022, ArisGlobal a key market player, acquired Signal Analytics Engine- Benefit-Risk Analytic System (BRASS) from Boehringer Ingelheim. The BRASS software is designed for highly regulated environments to support causal analysis of drug safety data. It became a part of ArisGlobal’s LifeSphere platform to support organizations collecting and processing large safety data sets. This helped the company advance its pharmacovigilance and patient safety capabilities.

Type Insights

By type, in-house segment held the highest share of the market in 2022. Contract outsourcing segment on the other hand, is anticipated to grow at a notable rate of over 14.1%. This is because of the increasing number of animal health companies, increasing product approvals, and outsourcing of pharmacovigilance operations by small & medium animal health companies to save time and costs. Initiatives by market players to enhance their portfolio is another key driver for the market.

In February 2019 for instance, Medfiles expanded its veterinary team with the recruitment of a veterinarian. This enabled the company to offer an even wider range of services. This included consulting, training, national and global pharmacovigilance services, marketing authorization applications and product lifecycle management, as well as a solid veterinary expertise in its services:

Animal Type Insights

Dogs held the largest share of about 50.06% of the market in 2022 by animal type. Others segment comprising livestock animals and horses is projected to grow at the fastest rate of about 15.12% from 2023 to 2032. Factors contributing to the growth include rising consumption of animal derived products, increasing pet population and humanization, awareness among animal owners, and increasing importance of regulatory compliance.

As per the 2020 annual bulletin by the EMA, the agency’s EudraVigilance Veterinary received a total of 29,474 companion animal product related adverse event reports in 2019. Of these, dog and cat related reports were found to be most frequent while reports concerning food-producing animals were estimated at 3,228. These reports were received majorly from European countries as well as from the U.S., Brazil, Canada, and 54 other countries.

Regional Insights

North America dominated the market by region with a share of about 40.02% in 2022. One of the key drivers is the growing regulatory environment governing the use of veterinary drugs. The FDA's Center for Veterinary Medicine (CVM) accepts electronic submission of adverse events for veterinary drugs through the Rational Questionnaire (RQ) in the Safety Reporting Portal (SRP) and the Electronic Submissions System (ESS). This continuous monitoring of approved NADAs and ANADAs enables FDA to identify potential problems with the safety and efficacy of approved and marketed new animal drugs as well as potential product/manufacturing problems.

Asia Pacific region is estimated grow at a lucrative CAGR of about 15.1% over the coming years. This is due to the increasing awareness among animal owners about the importance of animal health and the potential risks associated with the use of veterinary drugs. As pet ownership rates continue to rise in the region, more and more people are seeking high-quality veterinary care for their animals, and are therefore more likely to report any adverse effects or reactions to medications.

Veterinary Pharmacovigilance Market Segmentations:

By Solution

• Software
• Services

By Product

• Biologics
• Anti-infectives
• Other Product

By Type

• In-house
• Contract Outsourcing

By Animal Type

• Dogs
• Cats
• Other Animal Types

By Regional

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe 
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA