Veterinary API Market

MarketsandMarkets expect the Global Veterinary API Market is projected to reach USD 11.9 billion by 2028 from USD 8.5 billion in 2023, at a CAGR of 6.9% the forecast period. 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 by API Type (Antimicrobials (Fluoroquinolones, Tetracyclines), Vaccines, Hormones, Antimicrobials, Anti-inflammatory, Hormones), Synthesis Type, Route of Administration, and Animal Type – Global Forecast to 2028

In this report, the Veterinary API market is segmented on the basis of API Type, Synthesis Type, Route of Administration, Animal Type, and region.

Based on API Type, market segments are divided into six types such as Parasiticides, Vaccines, Antimicrobials, Anti-inflammatory, Hormones, and Other Veterinary APIs. The Parasiticides segment accounted for the largest share of the global Veterinary API market in 2022. The rising R&D investment on veterinary API manufacturing, rising parasitic infection in companion and livestock animals are additional factors that are expected to boost market expansion throughout the projected period.

Based on Synthesis type, Veterinary API market is segmented into three types such as Chemical based API, Biological API, and Highly potent API. The Chemical based API segment accounted for the largest share of the global Veterinary API market in 2022. Wide Range of Therapeutic Options for chemical based API manufacturing, Good stability and longer shelf life compared to some biological APIs are some of the factors that are expected to boost the segment in this market.

Based on Route of Administration, Veterinary API market is segmented into four types such as Oral, Injectable, Topical, and Others. The Oral segment accounted for the largest share of the global Veterinary API market in 2022. Wide applicability in various animal species, easy to administer all the medications, and flexibility in dosing are some of the factors to grow the segment in this market.

Based on Animal Type, Veterinary API market is segmented into four types such as companion and livestock animals. The companion animals segment accounted for the largest share of the global Veterinary API market in 2022. Increasing product portfolio by pharmaceutical companies for companion animals healthcare and advances in veterinary medicines are the factors to grow the segment in this market.

The Veterinary API Market is categorized into five geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In terms of market share, North America was the dominant region for Veterinary APIs globally in 2022. It is anticipated that a major drivers impacting the North America market growth would be development of advanced drug delivery systems, novel formulations, and innovative diagnostic tools, well-established regulatory standards for veterinary pharmaceuticals, and advanced veterinary healthcare infrastructure.

The prominent players in the global 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)

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.

The global veterinary active pharmaceutical ingredient (API) market is experiencing robust growth, projected to expand from $8.5 billion in 2023 to $11.9 billion by 2028, with a compound annual growth rate (CAGR) of 6.9%. This thriving market is fueled by several factors, including the rising prevalence of transboundary and zoonotic diseases, an increase in the global animal population and pet ownership, and the implementation of improved disease control and prevention measures.

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Growth Drivers:

Transboundary and Zoonotic Diseases: The growing concern over diseases that can rapidly spread across borders and between animals and humans, such as avian influenza, rabies, and African swine fever, has led to an increased demand for effective veterinary APIs. These APIs are crucial for developing therapeutics that target specific pathogens, reduce symptom severity, and aid in the recovery of infected animals, ultimately reducing the risk of transmission to humans.
Rising Pet Ownership and Animal Population: As more people adopt pets and the global animal population grows, the demand for veterinary medicines and animal health products has surged. This trend has driven the development of the veterinary API industry, which supplies the active ingredients necessary for these products.
Improved Disease Control and Prevention: Governments, international organizations, and veterinary professionals are collaborating to develop and implement disease control programs, further fueling the need for quality veterinary APIs. These APIs play a vital role in supporting these programs and minimizing the impact of diseases on public health and global trade.

Market Dynamics:

While the high costs of veterinary diagnostics and treatment pose a restraint, the rising awareness about animal health and welfare presents significant opportunities for the market. Challenges persist in the synthesis of large molecule APIs, such as proteins and peptides, due to their complexity and the need for specialized equipment and techniques.

Regional Insights

North America held the largest market share for veterinary APIs in 2022, driven by factors such as increasing research and development investments in API manufacturing and government support for API manufacturing facilities. However, the Asia-Pacific region is expected to witness substantial growth due to the rising demand for animal health products and the presence of major API manufacturers.

Key Players:

Major players in the veterinary API market include 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).

As the demand for veterinary medicines and animal health products continues to rise, the veterinary API market is poised for substantial growth, driven by the increasing prevalence of transboundary and zoonotic diseases, the expanding animal population, and the implementation of improved disease control measures. With the right investments and collaborations, this market has the potential to make significant contributions to animal health and welfare globally.

The global Veterinary API Market is estimated to grow significantly. By 2028, it is projected to reach a value of USD 11.9 billion, showing a compound annual growth rate (CAGR) of 6.9% during the forecast period, starting from USD 8.5 billion in 2023 according to a new report by MarketsandMarkets™. The expansion of the Veterinary API Market is driven by various factors, including rising incidence of transboundary & zoonotic diseases, increasing animal population and pet ownership, and increasing disease control & disease prevention measures.

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The Veterinary API Market is divided into three types based on synthesis types such as Chemical based API, Biological API, and Highly potent API. The Chemical based API segment accounted for the highest share of the global Veterinary API Market in 2022. Increasing Demand for Plasma-Derived Medicinal Products, Advancements in Plasma Fractionation Technologies, and Growing Need for Cold Chain Infrastructure all some of the factors that are anticipated to promote market expansion throughout the projected period. Growing demand for veterinary medicines, occurrence of new or emerging infectious diseases, and increasing research and development activities are some of the factors that are anticipated to promote market expansion throughout the projected period.

The Veterinary API Market, based on Animal Type is divided into two types such as companion animals and livestock animals. In 2022, companion animals held the highest market share for Veterinary API Market. Growing emphasis on preventive healthcare for companion animals and Increasing pet ownership are some of the factors that contribute to the big proportion of this market.

In the forecast period, Asia Pacific in the Veterinary API Market will have the fastest rising regional growth. Large number of veterinary hospitals and healthcare facilities, increasing spread of diseases in animals, and rising manufacturing infrasturcture for veterinary API manufacturing are the main factors driving market growth. Asia Pacific region has experienced an increase in pet ownership, coupled with a rising awareness of animal health and welfare. This has led to a higher demand for veterinary medicines and APIs in the region. Many countries in the Asia Pacific region, such as China, India, and South Korea, have seen substantial economic growth and increased disposable income. This has resulted in a greater ability and willingness to invest in the healthcare of companion animals, driving the expansion of veterinary API manufacturing infrastructure.

Following is a list of the major players (supply-side) in the Veterinary API Market that this study refers to:

By Company Type: Tier 1- 34%, Tier 2- 46%, and Tier 3- 20%
By Designation: C-level- 35%, Director Level—25%, and Others- 40%
By Region: North America-30%, Europe-45%, Asia Pacific-20%, Latin America- 3%, and Middle East and Africa-2%

Research Coverage:

The market study analyzes the main market segments for Veterinary APIs. The objective of this study is to estimate the market’s size and growth potential across several categories according to API Type, Synthesis Type, Route of Administration, and Animal Type. The report also provides a thorough competition analysis of the major market participants, together with company profiles, major insights regarding their product and service offerings, recent advancements, and key market strategies.

The prominent players in the global 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)

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.

Veterinary API Market in terms of revenue was estimated to be worth $5.2 billion in 2023 and is poised to reach $7.1 billion by 2028, growing at a CAGR of 6.5% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The market for veterinary API is expanding because of factors like rising incidence of transboundary & zoonotic diseases, increasing animal population and pet ownership, and increasing disease control & disease prevention measures. The veterinary API industry is anticipated to develop because of the rising demand for veterinary medicines and other animal health products. This is also going to attract international investors to that region.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=91801752

In this report, the Veterinary API Market is segmented based on API Type, Synthesis Type, Route of Administration, Animal Type, and region.

“Oral segment in Route of administration was dominated by the highest share in Veterinary API Market”

The Veterinary API Market is divided into four types based on Route of administration such as Oral, Injectable, Topical, and Others. The Oral segment accounted for the highest share of the global Veterinary API Market in 2022. Oral administration of veterinary drugs is relatively easy and can be performed by the pet owner or veterinary professional. It typically involves the use of tablets, capsules, liquids, or treats that can be readily consumed by animals. The oral route is suitable for a wide range of veterinary drugs, including antibiotics, antiparasitic, analgesics, and medications for chronic conditions.

“Companion animal segment was dominated by the highest share in Veterinary API Market”

The Veterinary API Market is segmented based on animal type into two categories: companion animals and livestock animals. In 2022, companion animals dominated the Veterinary API Market, holding the largest market share. This can be attributed to the increasing focus on preventive healthcare for companion animals and the rise in pet ownership, among other factors. These factors have contributed significantly to the significant proportion of the market occupied by companion animals.

“North America accounted for the largest share of the Veterinary API Market in 2022”

The Veterinary API Market is categorized into five geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America emerged as the dominant region, capturing the largest market share for Veterinary APIs globally. The growth of the North America market is expected to be driven by factors such as increased investments in research and development for veterinary API manufacturing and government backing for the establishment of API manufacturing facilities.

Veterinary API Market Dynamics:

Drivers:

1. Rising incidence of transboundary & zoonotic diseases

2. Increasing animal population and pet ownership

3. Increasing disease control & disease prevention measures

4. Growing demand for animal protein

Restraints:

1. High costs of veterinary diagnostic and treatment

2. Growing concerns about antibiotic resistance

Opportunities:

1. Rising awareness about animal health and welfare

2. Untapped emerging economies

Challenges:

1. Growing concerns about antibiotic resistance

2. Challenges In Large Molecule Api Synthesis

Key Market Players:

The prominent players in the global 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)