Unleashing Growth: The Veterinary API Market’s Promising Trajectory

Veterinary API Market

The global veterinary active pharmaceutical ingredient (API) market is experiencing robust growth, projected to expand from $8.5 billion in 2023 to $11.9 billion by 2028, with a compound annual growth rate (CAGR) of 6.9%. This thriving market is fueled by several factors, including the rising prevalence of transboundary and zoonotic diseases, an increase in the global animal population and pet ownership, and the implementation of improved disease control and prevention measures.

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Growth Drivers:

1. Transboundary and Zoonotic Diseases: The growing concern over diseases that can rapidly spread across borders and between animals and humans, such as avian influenza, rabies, and African swine fever, has led to an increased demand for effective veterinary APIs. These APIs are crucial for developing therapeutics that target specific pathogens, reduce symptom severity, and aid in the recovery of infected animals, ultimately reducing the risk of transmission to humans.

2. Rising Pet Ownership and Animal Population: As more people adopt pets and the global animal population grows, the demand for veterinary medicines and animal health products has surged. This trend has driven the development of the veterinary API industry, which supplies the active ingredients necessary for these products.

3. Improved Disease Control and Prevention: Governments, international organizations, and veterinary professionals are collaborating to develop and implement disease control programs, further fueling the need for quality veterinary APIs. These APIs play a vital role in supporting these programs and minimizing the impact of diseases on public health and global trade.

Market Dynamics:

While the high costs of veterinary diagnostics and treatment pose a restraint, the rising awareness about animal health and welfare presents significant opportunities for the market. Challenges persist in the synthesis of large molecule APIs, such as proteins and peptides, due to their complexity and the need for specialized equipment and techniques.

Regional Insights

North America held the largest market share for veterinary APIs in 2022, driven by factors such as increasing research and development investments in API manufacturing and government support for API manufacturing facilities. However, the Asia-Pacific region is expected to witness substantial growth due to the rising demand for animal health products and the presence of major API manufacturers.

Key Players:

Major players in the veterinary API market include Phibro Animal Health Corporation (US), Fabbrica Italiana Sintetici S.p.A. (Italy), Sequent Scientific Ltd. (India), Excel Industries Ltd. (India), NGL Fine-Chem Ltd. (India), Insulnsud Pharma (Spain), Menadiona Sl (Spain), Rochem International Inc. (US), and Shaanxi Hanjiang Pharmaceutical Group Co. Ltd. (China).

As the demand for veterinary medicines and animal health products continues to rise, the veterinary API market is poised for substantial growth, driven by the increasing prevalence of transboundary and zoonotic diseases, the expanding animal population, and the implementation of improved disease control measures. With the right investments and collaborations, this market has the potential to make significant contributions to animal health and welfare globally.