Veterinary Active Pharmaceutical Ingredients Market Poised to Surge, Projected to Reach $13.67 Billion by 2030-Exclusive Report by Meticulous Research®

[Redding, California, March 11, 2024] - Meticulous Research®, a leading provider of market intelligence, has unveiled a groundbreaking report titled, "Veterinary Active Pharmaceutical Ingredients Market: Shaping the Future of Animal Healthcare." According to this authoritative report, the global veterinary active pharmaceutical ingredients (API) market is anticipated to exhibit a robust CAGR of 7.2% from 2023, catapulting to a value of $13.67 billion by the year 2030.

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A Vital Component of Animal Healthcare:
The veterinary API market plays a pivotal role in the realm of animal healthcare, encompassing the production of essential compounds vital for the formulation of veterinary medications and treatments. These biologically active ingredients are instrumental in delivering therapeutic effects to animals, ensuring their well-being and vitality.

Driving Forces: Global Expansion and Evolving Consumer Trends
The growth trajectory of the veterinary pharmaceutical ingredients market is underpinned by several key factors. Notable among these are the escalating expenditure on animal health, the burgeoning prevalence of animal, foodborne, and zoonotic diseases, and the surging demand for animal-derived food products on a global scale. Moreover, the rising awareness pertaining to animal health in emerging economies, coupled with the increasing adoption of precision medicine in veterinary care, is anticipated to unlock a myriad of growth opportunities for stakeholders within this dynamic marketplace.

Elevating Standards: Regulatory Initiatives and Consumer Awareness:
Emerging economies are witnessing a paradigm shift in consumer preferences, driven by an increased demand for animal protein and a growing consciousness regarding food safety. Consequently, livestock production has surged, necessitating comprehensive animal health management practices. In response to this trend, governments and producers alike are embracing stringent regulations and guidelines to promote responsible veterinary medication usage, safeguarding both animal welfare and consumer health. Such initiatives are poised to catalyze market growth, presenting an array of opportunities for industry players.

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Key Players and Market Dynamics:
Leading entities profiled in this market study include Alivira Animal Health Limited, Excel Industries Ltd., Suan Farma, S.A.U., Chr. Olesen, Qilu Pharmaceutical Co., Ltd., FIS - Fabbrica Italiana Sintetici S.p.A., Rochem International Inc., NGL Fine-Chem Ltd., MENADIONA S.L, and Chempro Pharma Private Limited. The report meticulously evaluates the product portfolios, geographic footprints, and strategic developments of these industry stalwarts over the past years, spotlighting recent product launches and strategic acquisitions.

Segmentation Insights:
The global veterinary active pharmaceutical ingredients market is segmented by product type (parasiticides, vaccines, antibiotics, anti-inflammatory, and other types), synthesis type (chemical-based APIs, biological APIs, and highly potent APIs), and animal type (livestock and companion animals), offering comprehensive insights into market dynamics at regional and national levels.

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Based on product type, the veterinary active pharmaceutical ingredients market is segmented into parasiticides, vaccines, antibiotics, anti-inflammatory, and other types. The live vaccines segment is expected to grow at the fastest CAGR during the forecast period. The growth of this segment is attributed to the growing awareness regarding animal health in developing countries, the growing adoption of vaccines for animals concerning prevention rather than cure, and the growing livestock population globally.

Based on synthesis type, the veterinary active pharmaceutical ingredients market is segmented into chemical APIs, biological APIs, and highly potent APIs. The biological APIs segment is expected to grow fastest during the forecast period. This growth can be attributed to the growing concerns regarding the harmful effects of chemical-based animal pharmaceuticals on the environment and the growing need for specific drugs for specific diseases and species, which can be achieved by biopharmaceuticals and biotechnology applications.

Based on animal type, the veterinary active pharmaceutical ingredients market is segmented into livestock and companion animals. The livestock segment is expected to grow faster during the forecast period. Factors contributing to the segment's growth are increasing demand and consumption of animal-derived food products in developing countries, increasing livestock population to meet the growing demand, and government initiatives to curb the spread of diseases in animals. To meet the global demand for animal-derived food products, farmers are increasing the number of their livestock. For instance, according to the Food and Agricultural Organization of the United Nations (FAO), the number of cattle in 2021 increased to 1,529 million from 1,477 million in 2017.

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North America Poised for Dominance:
North America is projected to assert dominance in the veterinary active pharmaceutical ingredients market in 2023, closely followed by Europe and Asia-Pacific. The region's leadership is attributed to well-established agriculture and animal husbandry practices, robust awareness of animal health among farmers and pet owners, high production and export volumes of animal-derived food products, and a sizable pet population base.

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