PUBLISHER: The Business Research Company | PRODUCT CODE: 1425903
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425903
Veterinary Active Pharmaceutical Ingredients Manufacturing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on veterinary active pharmaceutical ingredients manufacturing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for veterinary active pharmaceutical ingredients manufacturing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The veterinary active pharmaceutical ingredients manufacturing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Manufacturing veterinary active pharmaceutical ingredients involves synthesizing APIs from raw materials using complex, multi-step methods utilizing advanced processing technologies.
The primary products within veterinary active pharmaceutical ingredients manufacturing encompass anti-infectives, vaccines, and NSAIDs. Active Pharmaceutical Ingredients (APIs) are the core elements of pharmaceutical medications that exert specific effects on the body, aiding in the treatment of diseases. Service types associated with this field include in-house production and contract outsourcing. Additionally, synthetic types of APIs comprise chemical-based APIs, biological APIs, and highly potent APIs. These categories delineate the diverse methodologies involved in producing these vital components for veterinary pharmaceuticals.
The veterinary active pharmaceutical ingredients manufacturing market research report is one of a series of new reports from The Business Research Company that provides veterinary active pharmaceutical ingredients manufacturing market statistics, including veterinary active pharmaceutical ingredients manufacturing industry global market size, regional shares, competitors with veterinary active pharmaceutical ingredients manufacturing market share, detailed veterinary active pharmaceutical ingredients manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary active pharmaceutical ingredients manufacturing industry. This veterinary active pharmaceutical ingredient manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 observed during the historic period in veterinary active pharmaceutical ingredients manufacturing can be attributed to several contributing factors. These include the upward trend in pet ownership, the implementation of stringent regulatory standards within the industry, heightened attention towards animal nutrition, substantial investments in research and development initiatives, and the overall expansion of the global economy. These elements collectively facilitated the growth trajectory witnessed in this sector during that period.
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 anticipated growth during the forecast period stems from developments in personalized veterinary medicine, expanding global markets, heightened emphasis on regulatory adherence, the increasing significance of animal welfare, innovations in drug delivery systems, and a growing market demand for nutraceuticals. Key trends expected in this period encompass technological advancements in manufacturing, a rise in outsourcing of active pharmaceutical ingredient (API) production, a transition towards biotechnology-driven APIs, the integration of digitalization and automation in manufacturing processes, and the globalization of the veterinary API market.
The growth of the veterinary active pharmaceutical ingredients (API) manufacturing market is anticipated to be driven by the increasing number of pet owners. Pet owners, those who own or adopt pet animals, contribute to the growing demand for veterinary drugs as they provide essential health facilities to their pets. In 2021, Chewy, Inc., a US-based online retailer of pet products, reported approximately 977,202 pets adopted in the US, resulting in the highest adoption rate of 61% in the past six years. This surge in pet ownership significantly boosts the demand for the veterinary active pharmaceutical ingredients manufacturing market.
The rising prevalence of zoonotic diseases is another factor expected to fuel the growth of the veterinary active pharmaceutical ingredients manufacturing market. Zoonotic diseases, capable of transmission between animals and humans, necessitate the development of vaccines using veterinary APIs to prevent their spread. The use of veterinary APIs is crucial in combating antibiotic resistance, a major concern in treating zoonotic diseases. According to the Council on Foreign Relations (CFR), up to 75% of newly discovered or emerging infectious diseases and 60% of recognized infectious diseases have zoonotic origins. Zoonoses cause 2.7 million human fatalities and 2.5 billion episodes of disease worldwide annually. This alarming prevalence of zoonotic diseases is a driving force behind the growth of the veterinary active pharmaceutical ingredients manufacturing market.
Innovation in product development emerges as a key trend in the veterinary active pharmaceutical ingredient manufacturing market. Major players are prioritizing the creation of innovative products to maintain their market positions. For instance, in June 2021, Lasa Supergenerics Limited, an India-based active pharmaceutical ingredient (API) manufacturing company, introduced Oxyclozanide. This novel anthelmintic addresses fascioliasis, a topical worm infection primarily affecting ruminants such as cattle, goats, and sheep. Oxyclozanide, with its application in the veterinary industry, demonstrates substantial potential in both domestic and international markets, exemplifying the trend of product innovation in the veterinary active pharmaceutical ingredients manufacturing sector.
Prominent companies in the veterinary active pharmaceutical ingredient (API) manufacturing market are strategically investing in the establishment of manufacturing plants for APIs as a means to gain a competitive advantage. These manufacturing facilities specialize in producing active pharmaceutical ingredients utilized in the formulation of veterinary drugs. In October 2023, Stallen South Asia Private Limited, an India-based animal health company, initiated operations at a new veterinary API facility dedicated to Halquinol. Halquinol, a non-antibiotic growth promoter categorized as a hydroxyquinoline, is a combination of 5-chloro-8-hydroxyquinoline, 5,7-dichloro-8-hydroxyquinoline, and 7-chloro-8-hydroxyquinoline. The facility produces Halquinol 98%, manufactured in compliance with British Pharmacopeia 1980 (BP 80) guidelines. Stallen's product range includes Halquinol 98% as a chemical API used in veterinary formulations and feed additives. The introduction of this facility aims to reduce dependence on imports from China for the animal health industry, emphasizing a strategic shift in the sourcing of a wide range of APIs.
In June 2022, Orion Corporation, a Finland-based pharmaceutical company specializing in human and veterinary pharmaceuticals, completed the acquisition of Inovet (V.M.D. nv/sa) for $128.33 million (130 million euros). This strategic move positions Orion's Veterinary Medicines section to diversify its product portfolio and gain a presence in the production animal market. The acquisition also facilitates an expansion of Orion's geographical footprint in Western Europe and the export market. Inovet (V.M.D. nv. sa.) is a Belgium-based manufacturer of veterinary active pharmaceutical ingredients. This acquisition is expected to enhance Orion's capabilities and competitiveness in the veterinary API manufacturing market.
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 Sante Animale S.A., Vetoquinol S.A., Virbac S.A.
North America was the largest region in the veterinary active pharmaceutical ingredients manufacturing market in 2023. The regions covered in the veterinary active pharmaceutical ingredients manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the veterinary active pharmaceutical ingredients manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The veterinary active pharmaceutical ingredients manufacturing market consists of revenues earned by entities by biologics and bulk drugs that are used to create components in medications which are responsible for the positive veterinary health impacts. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.