Veterinary API Market

The global 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. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The veterinary active pharmaceutical ingredient (API) market is growing due to various factors, including the increased occurrence of transboundary and zoonotic diseases, a rise in the global animal population and pet ownership, and the implementation of improved disease control and prevention measures. As a result, there is a growing demand for veterinary medicines and animal health products, which is expected to drive the development of the veterinary API industry. Moreover, this growth is likely to attract international investors to the region.

Global Veterinary API Market Trends

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Veterinary API Market Dynamics

Driver: Rising incidence of transboundary & zoonotic diseases

Transboundary and zoonotic diseases have become a growing concern worldwide due to their potential to cause significant harm to both animals and humans. These diseases, such as avian influenza, rabies, and African swine fever, can rapidly spread across borders and pose a threat to public health, animal welfare, and global trade. As a result, there has been an increase in the utilization of veterinary active pharmaceutical ingredients (APIs) to combat and prevent the spread of these diseases. Veterinary APIs provide essential tools for treating infected animals and preventing the spread of diseases. They are used to develop effective therapeutics that target specific pathogens, reduce the severity of symptoms, and aid in the recovery of affected animals. By controlling disease outbreaks in animals, veterinary APIs contribute to reducing the risk of transmission to humans. The increased usage of veterinary APIs aligns with global efforts to address transboundary and zoonotic diseases. International organizations, governments, and veterinary professionals collaborate to develop and implement disease control programs. The availability of effective and quality veterinary APIs plays a significant role in supporting these programs, facilitating international cooperation, and minimizing the impact of these diseases on public health and global trade.

Restraint: High costs of veterinary diagnostic and treatment

The high cost of veterinary diagnostics and treatment is a significant challenge faced by pet owners, livestock farmers, and veterinary professionals. This brief explores the factors contributing to the high cost of veterinary diagnostics and treatment and discusses its implications on animal healthcare. Veterinary diagnostics and treatments often require specialized equipment, laboratory facilities, and advanced technology. These resources come at a high cost, both in terms of initial investment and maintenance. The need for sophisticated equipment and technology adds to the overall expenses of providing veterinary care, leading to higher prices for diagnostics and treatments. The demand for veterinary diagnostics and treatments is relatively smaller compared to the human healthcare market. The limited market size reduces economies of scale, resulting in higher costs per unit of production. The smaller market demand for veterinary products makes it challenging for manufacturers to achieve cost efficiencies, leading to higher prices for diagnostics and treatments.

Opportunity: Rising awareness about animal health and welfare

There has been a significant increase in public awareness about animal health and welfare. People are increasingly recognizing the importance of providing proper care and attention to animals, including pets, livestock, and wildlife. This brief explores the factors contributing to the rising awareness about animal health and welfare and discusses its implications for the veterinary industry and society. Various animal welfare organizations, both local and international, have played a crucial role in raising awareness about animal health and welfare. These organizations actively advocate for the rights and well-being of animals, promote responsible pet ownership, and highlight the importance of humane treatment of animals. Their efforts through campaigns, education programs, and public outreach initiatives have contributed to increased awareness among the general public. The rising awareness about animal health and welfare has led to increased demand for veterinary services. Pet owners and livestock farmers are seeking regular health check-ups, preventive care, and specialized treatments for their animals. This surge in demand presents opportunities for the veterinary industry to provide quality healthcare services and expand their offerings to meet the evolving needs of animal owners.

Challenge: Challenges in Large Molecule API Synthesis

Large molecule APIs, such as proteins and peptides, present unique challenges in their synthesis for veterinary applications. These challenges arise from the complex nature of large molecules and the specific requirements for their production. The synthesis of large molecule APIs can be cost-intensive and time-consuming. The complexity of the synthesis process, the need for specialized equipment and reagents, and the potential for low yields or purification challenges can contribute to higher costs. Furthermore, the time required for synthesis, purification, and quality control testing may be prolonged compared to small molecule APIs, impacting production timelines and overall costs. Large molecule APIs are often produced using expression systems, such as bacteria, yeast, or mammalian cells. However, achieving high expression levels and yields of biologically active large molecules can be challenging. Optimization of expression systems, including genetic engineering, optimization of culture conditions, and purification techniques, is necessary to obtain enough of the desired large molecule APIs.

Veterinary API Market Ecosystem

The ecosystem of the Veterinary API Industry is made up of the components that are present there and specifies these components with a list of the organizations involved. Manufacturers of different Veterinary APIs include the businesses engaged in research, product development, optimization, and introduction of such goods. Distributors include third party sites affiliated with the organization for selling these products.

Parasiticides segment of Veterinary API Industry is expected to witness the fastest growth in the forecast period.

The Veterinary API Market is divided into four types such as API Type, Synthesis Type, Route of Administration, and Animal Type. The market category in API Type for Parasiticides is anticipated to grow at the fastest rate between 2023 and 2028. The rising R&D investment on veterinary API manufacturing are additional factors that are expected to boost market expansion throughout the projected period.

Companion animal segment of the Veterinary API Industry is expected to witness the fastest growth in the forecast period.

The Veterinary API Market, based on Animal Type is divided into two types such as companion animals and livestock animals. In 2022, The fastest growing market for veterinary API is held by companion animals in Animal Type segment. Increasing pet ownership and rising awareness regarding animal health are all factors that contribute to the big proportion of this market.

North America accounted for the largest share of the Veterinary API Industry in 2022

The Veterinary API Market is divided into five regions based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America held the largest market share for Veterinary APIs worldwide. It is anticipated that a major driver impacting the North America market growth would be increasing R&D investments in veterinary API manufacturing and government support for API manufacturing facilities.

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Key players in the Veterinary API Market are 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), and Shaanxi Hanjiang Pharmaceutical Group Co. Ltd. (China)

Scope of the Veterinary API Industry

The research report categorizes Veterinary API market to forecast revenue and analyze trends in each of the following submarkets:

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

Recent Developments of Veterinary API Industry

• 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.

Frequently Asked Questions (FAQ):

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