Global Veterinary Active Pharmaceutical Ingredients Manufacturing Market Overview
As per MRFR analysis, the Veterinary Active Pharmaceutical Ingredients Manufacturing Market Size was estimated at 9.37 (USD Billion) in 2022.
The Veterinary Active Pharmaceutical Ingredients Manufacturing Market Industry is expected to grow from 10.04(USD Billion) in 2023 to 18.8 (USD Billion) by 2032. The Veterinary Active Pharmaceutical Ingredients Manufacturing Market CAGR (growth rate) is expected to be around 7.22% during the forecast period (2024 - 2032).
Key Veterinary Active Pharmaceutical Ingredients Manufacturing Market Trends Highlighted
Veterinary Active Pharmaceutical Ingredients Manufacturing Market are the constituents of the veterinary drugs. Active Ingredients represent professional compounds that are subject to intense research prior to being marketed, as those are only vaunted for providing the desired therapeutic outcomes. Some of the factors that propel market growth include increased adoption of pets, increased knowledge about pets' health among the population, and increased need for concentrated veterinary medicines. Furthermore, the emergence of novel technology, such as genetic and precision medicine, opens doors for the creation of new API formulations. Ongoing research and development in the veterinary pharmaceutical industry are also contributing to the growth of this market. Recent trends include a combination of AI and IoT technologies for the betterment of manufacturing processes and efficiency. Similarly, the emphasis on developing alternative treatments as well as vaccines to curb the growth of antibiotic resistance is also assisting in addressing the concerns of antimicrobial resistance. The expansion of the market will be steady, driven by the heightening need for resourceful and effective veterinary medicines.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Drivers
Increasing Demand for Veterinary Medicines
There is a growing demand for veterinary medicines since, as the diseases of animals are becoming more prevalent, people are learning more about the importance of animal health and welfare. In turn, API used in the production of these medicines is in higher demand. Due to this fact, it is reasonable to expect that the Global Veterinary Active Pharmaceutical Ingredients Manufacturing Market Industry will grow in the following years.
Technological Advancements in Veterinary Medicine
Advancements in veterinary medicine, such as the development of new vaccines and treatments, are creating a need for more specialized APIs. These APIs are often complex and require specialized manufacturing processes. The Veterinary Active Pharmaceutical Ingredients Manufacturing Market Industry is expected to benefit from this trend as companies invest in research and development to meet the growing demand for innovative veterinary medicines.
Rising Focus on Animal Health and Welfare
Another important driver of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market Industry is the increasing focus on animal health and welfare. Today, governments and various organizations are implementing rules and initiatives aimed at ensuring that animals are healthy and feel well. This action leads to the growing demand for veterinary care, which requires necessary medicines and active pharmaceutical ingredients.
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Segment Insights
Veterinary Active Pharmaceutical Ingredients Manufacturing Market API Type Insights
The Global Veterinary Active Pharmaceutical Ingredients Manufacturing Market is segmented by API Type into Antibiotics, Anti-Infectives, Anti-Inflammatories, Parasiticides, and Hormones. The Antibiotics segment is expected to hold the largest market share in 2023 and is projected to continue to grow at a significant CAGR during the forecast period. This growth is attributed to the increasing prevalence of infectious diseases in animals, as well as the growing demand for antibiotics for prophylactic use in livestock. The Anti-Infectives segment is also expected to witness significant growth over the forecast period.This growth is driven by the rising incidence of animal diseases, such as bovine respiratory disease and swine flu, as well as the growing demand for effective anti-infective drugs for disease prevention and treatment. The Anti-Inflammatories segment is expected to grow at a steady pace over the forecast period. This growth is attributed to the rising demand for anti-inflammatory drugs for the treatment of joint pain, swelling, and other inflammatory conditions in animals. The Parasiticides segment is expected to witness moderate growth over the forecast period.This growth is driven by the increasing prevalence of parasitic infections in animals, as well as the growing demand for effective parasiticides for the control and prevention of parasitic infestations. The Hormone segment is expected to grow at a slow pace over the forecast period. This growth is attributed to the increasing demand for hormones for the treatment of reproductive disorders and other hormonal imbalances in animals. Overall, the Veterinary Active Pharmaceutical Ingredients Manufacturing Market is expected to witness significant growth over the forecast period, driven by the rising demand for veterinary drugs for the prevention and treatment of animal diseases.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Dosage Form Insights
The dosage form segment of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market is classified as oral, injectable, topical, ophthalmic and intramammary. In 2023, the oral segment dominated the global market and is expected to account for more than 50% of the global market. The increasing use of oral formulations and the availability of oral solid and liquid formulations drive the growth of this segment.
Injectable drugs are increasingly being adopted for the treatment of chronic animal diseases, thus increasing demand for injectable products. Topical products are also expected to grow rapidly as there is increased demand for the treatment of skin infections and allergies in animals. The ophthalmic segment accounts for less than 10% of the global market, and the share is expected to increase over the forecast period due to increased awareness of the care of animals' eyes. The intramammary segment is also projected to witness moderate growth as there is increased usage for the prevention and treatment of mastitis in dairy animals.
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Animal Type Insights
The Veterinary Active Pharmaceutical Ingredients Manufacturing Market is segmented by animal type into companion animals, farm animals, and aquaculture animals. The companion animals segment is the largest, accounting for over 50% of the market revenue in 2023. The growing popularity of companion animals, such as dogs and cats, and the increasing demand for veterinary care for these animals drives this segment. The farm animals segment is the second largest, accounting for around 30% of the market revenue in 2023. This segment is driven by the growing demand for animal protein, such as meat, milk, and eggs, and the increasing use of veterinary pharmaceuticals to improve animal health and productivity.The aquaculture animals segment is the smallest, accounting for around 20% of the market revenue in 2023. This segment is driven by the growing demand for seafood and the increasing use of veterinary pharmaceuticals to improve the health and productivity of farmed fish and shrimp. The market for veterinary active pharmaceutical ingredients is expected to register a CAGR of around 7% from 2024 to 2032, reaching a value of USD 18.8 billion by 2032.
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Therapeutic Area Insights
The Therapeutic Area segment of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market plays a crucial role in the industry's growth. Antibacterial drugs dominate this segment, accounting for a significant share of the market revenue in 2023. The rising prevalence of bacterial infections in animals, particularly in poultry and livestock, drives the demand for antibacterial APIs. Antiviral APIs also hold a substantial market share, driven by the increasing incidence of viral diseases in companion animals. Antifungal APIs are gaining traction due to the growing awareness of fungal infections in animals.Antiparasitic APIs address the widespread issue of parasitic infestations, particularly in livestock and companion animals. Cardiovascular APIs are essential for managing heart conditions in animals, contributing to the overall market growth.
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Regional Insights
The Veterinary Active Pharmaceutical Ingredients Manufacturing Market is segmented into regions such as North America, Europe, APAC, South America, and MEA. Among these regions, North America held the largest share of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market in 2023 and is expected to continue its dominance throughout the forecast period. The growth of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market in North America can be attributed to factors such as the presence of a large number of animal health companies, increasing pet ownership, and rising awareness about animal health.Moreover, the region has a well-established veterinary infrastructure, which is expected to drive the growth of the market over the forecast period. The European region is expected to witness significant growth in the Veterinary Active Pharmaceutical Ingredients Manufacturing Market due to the increasing adoption of companion animals, rising disposable income, and the presence of a large number of animal health companies. Additionally, government initiatives aimed at promoting animal welfare are expected to drive the growth of the market in the region.The APAC region is expected to be the fastest-growing region in the Veterinary Active Pharmaceutical Ingredients Manufacturing Market during the forecast period. This growth can be attributed to the increasing demand for animal-derived food products, the growing population of companion animals, and the rising awareness about animal health. Moreover, government initiatives aimed at promoting animal welfare are expected to drive the growth of the market in the region. The South American and MEA regions are expected to witness moderate growth in the Veterinary Active Pharmaceutical Ingredients Manufacturing Market during the forecast period.The growth of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market in these regions can be attributed to the increasing demand for animal-derived food products, the growing population of companion animals, and the rising awareness about animal health.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Key Players And Competitive Insights
The Veterinary Active Pharmaceutical Ingredients Manufacturing Market industry is highly competitive. Leading players in the Veterinary Active Pharmaceutical Ingredients Manufacturing Market are investing heavily in research and development to come up with innovative products that meet the market requirements. The development of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market is propelled by the increasing demand for veterinary pharmaceuticals, growing awareness of animal health and government regulations that require manufacturers to produce active pharmaceutical ingredients of high quality. The Veterinary Active Pharmaceutical Ingredients Manufacturing Market Competitive Landscape is comprised of both large multinational companies and small regional players.
Zoetis is a leading company in the Veterinary Active Pharmaceutical Ingredients Manufacturing Market. Zoetis is the largest global producer of medicine and vaccines and primarily focuses on animal health. The company has developed a large number of products, such as anti-inflammatories, antibiotics and parasiticides. Zoetis has a wide reach of the market and operates 300 subsidiaries and 20 manufacturing units across the world.Another major player in the Veterinary Active Pharmaceutical Ingredients Manufacturing Market is Vetoquinol, which is a French multinational company. Vetoquinol produces a wide range of veterinary pharmaceuticals, vaccines, and diagnostic products. The company has a large market in Europe and Asia and extends to North America. Vetoquinol's effort in the research has resulted in the introduction of new products such as antibacterials, antifungals, and antivirals.
Key Companies in the Veterinary Active Pharmaceutical Ingredients Manufacturing Market Include
- Vetoquinol SA
- Sanofi Animal Health
- Boehringer Ingelheim Animal Health
- Zoetis
- Intervet/Schering-plow Animal Health
- Pfizer Animal Health
- Virbac
- Bayer Animal Health
- Vétoquinol
- Elanco Animal Health
- Novartis Animal Health
- Dechra Pharmaceuticals
- Ceva Santé Animale
- Eli Lilly and Company
- Merck Animal Health
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Industry Developments
The global Veterinary Active Pharmaceutical Ingredients (APIs) Manufacturing Market is poised to expand significantly over the forecast period, driven by rising pet ownership, increasing prevalence of animal diseases, and growing demand for animal-derived pharmaceuticals. According to a recent report, the market is expected to reach USD 18.8 billion by 2032, exhibiting a CAGR of 7.22% from 2024 to 2032. Key market players are investing in research and development to enhance production efficiency and develop new and innovative APIs. Strategic partnerships and acquisitions are also shaping the market landscape, with companies seeking to expand their product portfolios and geographic reach. Recent news developments include the acquisition of Norbrook Laboratories Limited by Elanco Animal Health Incorporated and Ceva Santé Animale's launch of a new API manufacturing facility in China.
- Veterinary Active Pharmaceutical Ingredients Manufacturing Market Segmentation Insights
- Veterinary Active Pharmaceutical Ingredients Manufacturing Market API Type Outlook
- Antibiotics
- Anti-Infectives
- Anti-Inflammatories
- Parasiticides
- Hormones
- Veterinary Active Pharmaceutical Ingredients Manufacturing Market Dosage Form Outlook
- Oral
- Injectable
- Topical
- Ophthalmic
- Intramammary
- Veterinary Active Pharmaceutical Ingredients Manufacturing Market Animal Type Outlook
- Companion Animals (Dogs, Cats)
- Farm Animals (Cattle, Swine, Poultry)
- Aquaculture Animals (Fish, Shrimp)
- Veterinary Active Pharmaceutical Ingredients Manufacturing Market Therapeutic Area Outlook
- Antibacterial
- Antiviral
- Antifungal
- Antiparasitic
- Cardiovascular
| Report Attribute/Metric |
Details |
| Market Size 2022 |
9.37(USD Billion) |
| Market Size 2023 |
10.04(USD Billion) |
| Market Size 2032 |
18.8(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
7.22% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Vetoquinol SA, Sanofi Animal Health, Boehringer Ingelheim Animal Health, Zoetis, Intervet/schering-plow Animal Health, Pfizer Animal Health, Virbac, Bayer Animal Health, Vétoquinol, Elanco Animal Health, Novartis Animal Health, Dechra Pharmaceuticals, Ceva Santé Animale, Eli Lilly and Company, Merck Animal Health |
| Segments Covered |
API Type, Dosage Form, Animal Type, Therapeutic Area, Regional |
| Key Market Opportunities |
Companion animal health Antiparasitic drugs Livestock vaccines Diagnostic tools Pet food supplements |
| Key Market Dynamics |
Rising Animal Healthcare Expenditure Growing Demand for Novel Therapeutics Technological Advancements Increasing Focus on Animal Welfare Expanding Livestock Production |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Veterinary Active Pharmaceutical Ingredients Manufacturing Market is expected to Register a CAGR of 7.22% from 2024 to 2032.
The key growth drivers of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market include increasing pet ownership, rising demand for veterinary pharmaceuticals, and growing awareness of animal health.
Some of the major competitors in the Veterinary Active Pharmaceutical Ingredients Manufacturing Market include Zoetis, Merck Animal Health, and Ceva Santé Animale.
Veterinary Active Pharmaceutical Ingredients are used in a wide range of applications, including antibiotics, anti-inflammatories, and parasiticides.
The Veterinary Active Pharmaceutical Ingredients Manufacturing Market is expected to reach a valuation of approximately USD 18.8 billion by 2032.
The Veterinary Active Pharmaceutical Ingredients Manufacturing Market faces challenges such as regulatory hurdles, competition from generic manufacturers, and the need for continuous innovation.
Opportunities for growth in the Veterinary Active Pharmaceutical Ingredients Manufacturing Market include rising demand for pet healthcare, increasing investment in animal health research, and the development of new technologies.
