Chicago, July 14, 2023 (GLOBE NEWSWIRE) -- The veterinary active pharmaceutical ingredient (API) industry is poised for substantial growth and transformation in the near future. With the increasing global demand for animal healthcare and the growing awareness of zoonotic diseases, there is a heightened focus on developing safe and effective APIs for veterinary use. The industry is witnessing advancements in research and development, manufacturing technologies, and quality control processes to meet the evolving needs of veterinarians and pet owners. The development of specialized APIs for different animal species, including companion animals, livestock, and aquaculture, will play a pivotal role in addressing specific health challenges and improving animal welfare. Moreover, the integration of digital technologies, such as telemedicine and data analytics, will enable more precise diagnosis, personalized treatment options, and efficient supply chain management. As veterinary medicine continues to progress and embrace innovation, the veterinary API industry will play a vital role in supporting the health and well-being of animals and strengthening the bond between humans and their animal companions.
Veterinary API market in terms of revenue was estimated to be worth $8.5 billion in 2023 and is poised to reach $11.9 billion by 2028, growing at a CAGR of 6.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Factors like Increasing emphasis on disease prevention and control, growing animal population and pet ownership, rising demand for veterinary medicines, and growing awareness of animal welfare are expected to drive the development and growth of the veterinary API market.
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Veterinary API Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $8.5 billion |
| Estimated Value by 2028 | $11.9 billion |
| Growth Rate | Poised to grow at a CAGR of 6.9% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | API type, Synthesis Type, Route of Administration, Animal Type, and Region |
| Geographies Covered |
|
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Rising awareness about animal health and welfare |
| Key Market Drivers | Rising incidence of transboundary & zoonotic diseases |
Veterinary API market major players covered in the report, such as:
- 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)
- Shaanxi Hanjiang Pharmaceutical Group Co. Ltd. (China)
- and Among Others
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The research report categorizes Veterinary API market into the following segments and sub-segments:
By API Type
- Parasiticides
- Vaccines
- Antimicrobials
- Anti-inflammatory
- Hormones
- Other Veterinary APIs
By Synthesis Type
- Chemical based API
- Biological API
- Highly potent API
By Route of Administration
- Oral
- Injectable
- Topical
- Others
By Animal Type
- Companion animals
- Livestock animals
By Country
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Australia
- Japan
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East and Africa
- Turkey
- Rest of MEA
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The key stakeholders in the Veterinary API market include:
- Veterinary API Manufacturers
- Veterinary API Distributors
- Animal Health R&D Companies
- Veterinary Clinics and Hospitals
- Veterinary Pharmaceutical Associations
- Veterinary Research Institutes and Universities
- Venture Capitalists and Investors
- Market Research and Consulting Firms
- Government Associations
Frequently Asked Questions (FAQs) of Veterinary API Market:
Q1. What is the total market value of Veterinary API Market report?
Q2. Which are the top companies holding the market share in Veterinary API Market?
Q3. Which are the largest regions for this Market?
Q4. What is the leading technology of Veterinary API Market?
Q5. What are the major drivers for this specific Market?
Q6. What are the upcoming key trends in the Veterinary API Market report?
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Recent Developments:
- In 2021, Sequent Scientific Ltd. (India) received WHO–GENEVA approval for API Praziquantel (Anthelmintic) under the prequalification program.
- In 2020, Sequent Scientific Ltd. Opened a state-of-the-art animal health R&D center in Mumbai, India.
Reasons to Buy the Report - The report provides insights on the following pointers:
The study provides data regarding the Veterinary API Market's closest approximations and its segments, which will benefit market leaders and new entrants. This study will assist stakeholders in comprehending the competitive environment, obtaining insights to better position of their businesses, and developing appropriate go-to-market strategies. The research will also assist stakeholders in obtaining insights into the market's pulse and learning about its major drivers, inhibitors, opportunities, and problems.
The report provides insights on the following pointers:
Analysis of key drivers (Rising incidence of transboundary & zoonotic diseases, increasing animal population and pet ownership, and increasing disease control & disease prevention measures), restraints (High costs of veterinary diagnostic and treatment) opportunities (Rising awareness about animal health and welfare and Untapped emerging economies), and challenges (Challenges In Large Molecule APIs Synthesis) influencing the growth of the Veterinary API Market.
Product Development/innovation:
Comprehensive details on new technologies, R&D initiatives, and product and service launches for Veterinary API Market
Market Development:
Comprehensive data on attractive markets, and the research analyzes the global Veterinary API Market
Market Diversification:
Detailed information on emerging products and services, unexplored regions, current trends, and investments in the Veterinary API Market.
Competitive Assessment:
Comprehensive analysis of market shares, growth plans, and service offerings of major companies operating in the Veterinary API Market like 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)
Related Reports:
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/veterinary-api-market.asp
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