The Veterinary Active Pharmaceutical Ingredients Manufacturing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Veterinary Active Pharmaceutical Ingredients Manufacturing Global Market Report 2024, The veterinary active pharmaceutical ingredients manufacturing market size has grown strongly in recent years. It will grow from $6.92 billion in 2023 to $7.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to rising pet ownership, stringent regulatory standards, increased focus on animal nutrition, research and development investments, global economic growth.
The veterinary active pharmaceutical ingredients manufacturing market size is expected to see strong growth in the next few years. It will grow to $10.41 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to advancements in personalized veterinary medicine, globalization and market expansion, focus on regulatory compliance, growing importance of animal welfare, advancements in drug delivery systems, rising demand for nutraceuticals.. Major trends in the forecast period include technological advancements in manufacturing processes, increasing outsourcing of api manufacturing, shift toward biotechnology-based apis, digitalization and automation in manufacturing, globalization of the veterinary api market.
The increasing number of pet owners is expected to propel the growth of the veterinary active pharmaceutical ingredients manufacturing market going forward. Pet owners are individuals who own or adopt a pet animal. The pet owners provide necessary health facilities to the pets which increases the demand for veterinary drugs. For instance, in 2021, according to Chewy, Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. Therefore, increasing pet ownership is driving demand for the veterinary active pharmaceutical ingredients manufacturing market.
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The veterinary active pharmaceutical ingredients manufacturing market covered in this report is segmented –
1) By Product: Antiparasitic, Anti-Infectives, Vaccines, NSAIDs
2) By Service Type: In House, Contract Outsourcing
3) By Synthesis Type: Chemical Based API, Biological API, Highly Potent API
Product innovation is a key trend gaining popularity in the veterinary active pharmaceutical ingredient manufacturing market. Major players in the market are focusing on innovative products to sustain their market positions. For instance, in June 2021, Lasa Supergenerics Limited, an India-based active pharmaceutical ingredient (API) manufacturing company, launched Oxyclozanide. Oxyclozanide is a novel anthelmintic that treats and manages fascioliasis, a topical worm infection in ruminants, primarily domestic animals like cattle (particularly buffalos on farms), goats, and sheep. Oxyclozanide is frequently used in the veterinary industry and has enormous potential in domestic and international markets.
The veterinary active pharmaceutical ingredients manufacturing market report table of contents includes:
1. Executive Summary
2. Veterinary Active Pharmaceutical Ingredients Manufacturing Market Characteristics
3. Veterinary Active Pharmaceutical Ingredients Manufacturing Market Trends And Strategies
4. Veterinary Active Pharmaceutical Ingredients Manufacturing Market – Macro Economic Scenario
5. Global Veterinary Active Pharmaceutical Ingredients Manufacturing Market Size and Growth
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26. South America Veterinary Active Pharmaceutical Ingredients Manufacturing Market
27. Brazil Veterinary Active Pharmaceutical Ingredients Manufacturing Market
28. Middle East Veterinary Active Pharmaceutical Ingredients Manufacturing Market
29. Africa Veterinary Active Pharmaceutical Ingredients Manufacturing Market
30. Veterinary Active Pharmaceutical Ingredients Manufacturing Market Competitive Landscape And Company Profiles
Top Major Players:
- Alivira Animal Health Limited
- Excel Industries Limited
- Ofichem Group B.V
- Afton Pharma
- Jiangsu Lingyun Pharmaceutical Co. Ltd
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