$7+ Billion Veterinary API Markets: Antimicrobials, Vaccines, Hormones, Antimicrobials, Anti-inflammatory, Hormones - Global Forecast to 2028 with Chemical Based API Segment Dominating

DUBLIN, Aug. 3, 2023 /PRNewswire/ -- The "Global Veterinary API Market by API Type (Antimicrobials (Fluoroquinolones, Tetracyclines), Vaccines, Hormones, Antimicrobials, Anti-inflammatory, Hormones), Synthesis Type, Route of Administration, and Animal Type - Forecast to 2028" report has been added to  ResearchAndMarkets.com's offering. 

The global Veterinary API Market is estimated to grow significantly. By 2028, it is projected to reach a value of USD 7.1 billion, showing a compound annual growth rate (CAGR) of 6.5%, starting from USD 5.2 billion in 2023

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.

Chemical based API segment was dominated by the highest share in Veterinary API Market

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, the 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.

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

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.

Asia Pacific is expected to witness the fastest growth in the forecast period

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 infrastructure 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.

Competitive landscape

Several of the major companies in the market for Veterinary API Market includes 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)

Premium Insights

• Growing Prevalence of Animal Diseases and Rising Demand for Animal-Derived Food Products to Drive Market
• Parasiticides Accounted for Largest Share of APAC Veterinary Api Market in 2022
• China to Register Highest Growth During Forecast Period
• North America to Continue to Dominate Veterinary Api Market in 2022
• Emerging Economies to Offer Growth Opportunities to Market Players During Forecast Period

Market Dynamics

Drivers

• Rising Incidence of Transboundary and Zoonotic Diseases
• Increasing Animal Population and Pet Ownership
• Increasing Disease Control and Prevention Measures
• Growing Demand for Animal Protein

Restraints

• Regulations Restricting Use of Parasiticides on Food-Producing Animals
• Growing Concerns About Antibiotic Resistance

Opportunities

• Untapped Emerging Economies

Challenges

• Challenges in Large-Molecule Api Synthesis
• High Costs of Veterinary Diagnostics and Treatment

Industry Trends

• Growing Fragmentation in Veterinary Api Industry

Case Studies

• Identifying Business Opportunities in Broad-Spectrum Parasiticides, US

Company Profiles

Key Players

• Boehringer Ingelheim GmbH
• Zoetis, Inc.
• Elanco Animal Health Incorporated
• Merck & Co., Inc.
• Virbac
• Vetoquinol S.A.
• Sequent Scientific Limited
• Phibro Animal Health Corporation
• Fabbrica Italiana Sintetici S.P.A.
• Excel Industries Ltd.
• Ngl Fine-Chem Ltd.
• Qilu Pharmaceutical
• Olon S.P.A.
• Shandong Lukang Pharmaceutical Co., Ltd.
• Zhejiang Huadi Pharmaceutical Group Co., Ltd.
• Insud Pharma
• Menadiona Sl
• Rochem International, Inc.
• Afton Pharma
• Shaanxi Hanjiang Pharmaceutical Group Co. Ltd.

Other Players

• Dalian Launcher Fine Chemical Co., Ltd.
• Amgis Lifescience Ltd.
• D.H. Organics
• Siflon Drugs
• Sbd Healthcare Pvt. Ltd.
• Century Pharmaceuticals Ltd.
• Sidhiv Pharma
• Fermion
• Chemino Pharma Private Limited
• Suanfarma

For more information about this report visit https://www.researchandmarkets.com/r/e9vfg

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