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Meticulous Research® Projects Robust Growth in Global Veterinary API Market, Forecasted to Reach $15.84 Billion by 2031
Meticulous Research®, a renowned global market intelligence firm, has released its latest analysis titled "Veterinary API Market by Type (Parasiticide [Albendazole, Ivermectin, Moxidectin, Fipronil], Antibiotic [Penicillin, Cephalexin], Anti-inflammatory [Meloxicam, Carprofen, Deracoxib], Vaccine) Synthesis (Chemical, Biological, HPAPI) - Global Forecast to 2031."Download Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5623
According to the report, the global veterinary API market is poised to experience a compound annual growth rate (CAGR) of 7.7% from 2024, reaching an estimated $15.84 billion by 2031. This growth is underpinned by escalating expenditures on animal health, the increasing prevalence of zoonotic and foodborne diseases, and the rising global demand for animal-derived food products. The report also highlights emerging opportunities driven by greater awareness of animal health in developing regions and the expanding role of precision medicine in veterinary care. However, market expansion is challenged by stringent regulatory approval processes, environmental concerns related to veterinary drugs, and a shortage of veterinary practitioners.
Market Segmentation and Insights
The veterinary API market is segmented by type, synthesis method, animal type, and geography:
• By Type: The parasiticides segment is projected to lead the market in 2024, driven by the widespread incidence of parasitic infections in pets and livestock, increasing rates of pet adoption, and the growing global livestock population. Parasiticides are essential in managing common parasitic infections, such as fleas and ticks, which are prevalent in animals. This demand for veterinary APIs in the production of parasiticides significantly contributes to the segment's dominance.
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• By Synthesis Method: Chemical APIs are expected to command the largest market share in 2024. The chemical synthesis process allows for meticulous control over reaction conditions, ensuring consistent, high-quality production of veterinary APIs, which is crucial for achieving optimal yields and desired molecular properties.
• By Animal Type: The livestock segment is anticipated to exhibit the highest CAGR during the forecast period. This growth is fueled by rising demand for animal-derived food products, particularly in developing countries, coupled with increasing livestock populations to meet this demand. Government initiatives aimed at disease prevention and livestock health management, such as India's Animal Pandemic Preparedness Initiatives, further bolster this segment's growth.
Geographical Analysis
The report provides a detailed analysis of the veterinary API market across key regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to maintain its leadership position in the market through 2024, driven by a well-established agriculture and animal husbandry sector, high awareness of animal health among farmers and pet owners, robust production and export of animal-derived food products, and a substantial pet population.
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Key Market Players
Leading companies in the veterinary API market include Alivira Animal Health Limited (India), Excel Industries Ltd. (India), Suan Farma, S.A.U. (Spain), Chr. Olesen (Denmark), Qilu Pharmaceutical Co., Ltd. (China), FIS - Fabbrica Italiana Sintetici S.p.A. (Italy), Rochem International Inc. (U.S.), NGL Fine-Chem Ltd. (India), MENADIONA S.L (Spain), and Chempro Pharma Private Limited (India).
Related Reports:
Veterinary Vaccines Market - https://www.meticulousresearch.com/product/veterinary-api-market-5623
Vaccines Market - https://www.meticulousresearch.com/product/vaccines-market-5076
Veterinary Immunodiagnostics Market - https://www.meticulousresearch.com/product/veterinary-immunodiagnostics-market-2897
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