Press release
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Report 2024: Strategies And Recent Developments | Alivira Animal Health Limited, Excel Industries Limited, Ofichem Group B.V., Afton Pharma, Jiangsu Lingyun Pharmaceutical Co. Ltd
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Characteristics
The Business Research Company offers in-depth market insights through Veterinary Active Pharmaceutical Ingredients Manufacturing Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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..
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Market Segmentation:
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
Major Driver - Growing Number Of Pet Owners Boosts Veterinary Api Manufacturing 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.
Competitive Landscape:
Major companies operating in the veterinary active pharmaceutical ingredients manufacturing market report are Alivira Animal Health Limited, Excel Industries Limited, Ofichem Group B.V., Afton Pharma, Jiangsu Lingyun Pharmaceutical Co. Ltd., SUANFARMA S.A., NGL Fine-Chem Limited, FIS - Fabbrica Italiana Sintetici S.p.A., Lupin Limited, Aurobindo Pharma Limited, Albemarle Corporation, Saneca Pharmaceuticals AS, Neuland Laboratories Limited, Divi's Laboratories Limited, Zoetis Inc., Grupo Indukern S.L., Sequent Scientific Limited, Chempro Pharma Private Limited, AMGIS Lifescience Ltd., Huvepharma AD, Vetpharma Animal Health S.L., Qilu Pharma Spain S.A., INDUKERN Chemie AG, Chemopharma S.A., Norbrook Laboratories Limited, Ceva Santé Animale S.A., Vetoquinol S.A., Virbac S.A.
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Top Trend - Product Innovation Drives Growth In Veterinary Api Manufacturing Market
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 Table Of Content For The Market Report Include:
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. Veterinary Active Pharmaceutical Ingredients Manufacturing Market Size And Growth
…..
27. Veterinary Active Pharmaceutical Ingredients Manufacturing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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