The sales value of pharmaceutical preparations for veterinary use in the US has shown a steady decline over the past decade, falling from 2.4111 billion USD in 2013 to 0.88819 billion USD in 2023, a year-on-year decline of 9.63%. The average annual change rate (CAGR) over the last five years stands at -8.45%. The forecast indicates a continued decreasing trend with sales expected to drop by 49.46% over the next five years, resulting in a forecast CAGR of -12.76%.
Future trends to watch for include potential market consolidation, innovations in veterinary pharmaceutical technologies, policy changes impacting veterinary drug pricing, and increased competition from alternative treatments. Monitoring these factors will be critical for understanding the trajectory of this sector.