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What is the breakup of the Veterinary Active Pharmaceutical Ingredients Manufacturing market based on the product type?

10.13.2022 · Posted in Health Care Articles

Veterinary Active Pharmaceutical Ingredients Manufacturing Industry Overview

The global veterinary active pharmaceutical ingredients manufacturing market size is expected to reach USD 10.4 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.9% over the forecast period. The increasing prevalence of chronic diseases in animals and growing concerns among pet owners are the key contributors to the market growth.

Moreover, the growing prevalence of zoonotic diseases is driving the demand for drugs, which, in turn, boosts the demand for active pharmaceutical ingredients (APIs) for the production of these drugs. According to the Centers for Disease Control and Prevention (CDC), in July 2017, it was estimated that 6 out of 10 known infectious diseases in people can be transmitted from animals and 3 out of every 4 novel or emerging infectious diseases in people are caused due to animals.

Government organizations are involved in issuing various guidelines to promote veterinary services globally, which is expected to contribute to market growth in the coming years. For instance, in May 2018, the OIE International Standards, a part of the WTO framework, issued standards to improve animal health, which will affect human health as well. One of the key challenges was found to be the lack of technical expertise in this field.

The rising number of veterinarians is also anticipated to boost the market growth. According to the American Veterinary Medical Association, in 2018, there were 113,394 veterinarians in the U.S. as compared to 110,531 veterinarians in 2017. Out of these, 48,898 were involved in private clinical practice exclusively for companion animals. Also, according to the Canadian Veterinary Medical Association (CVMA), the approximate number of veterinarians in Canada is 12,921.

Veterinary Active Pharmaceutical Ingredients Manufacturing Market Segmentation

Grand View Research has segmented the global veterinary active pharmaceutical ingredients manufacturing market on the basis of service type, synthesis type, product, and region:

Based on the Service Type Insights, the market is segmented into In House Contract and Outsourcing.

  • The contract outsourcing service type accounted for the largest revenue share of over 58% in 2020 owing to the associated benefits with its adoption.
  • The in-house service type segment is estimated to register the fastest CAGR over the forecast period as this service type ensures complete control over the process and intellectual property associated with the therapy.

Based on the Synthesis Type Insights, the market is segmented into Chemical-based API, Biological API and HPAPI.

  • The chemical-based API segment dominated the global veterinary API manufacturing market with a revenue share of over 39% in 2020.
  • The HPAPI segment is projected to register the fastest CAGR from 2021 to 2028. High-potency APIs have a dosage rate of 20 to 50 times lower than the typical APIs, which boosts their demand.

Based on the Product Insights, the market is segmented into Antiparasitic, Anti-infectives, NSAIDs, Vaccines, Biologics and Others.

  • The vaccines product segment held the largest market share of over 23% in 2020 and will expand further at a significant CAGR from 2021 to 2028.
  • NSAIDs are expected to be the fastest-growing segment over the forecast period. The anti-infectives products segment is estimated to account for the second-highest revenue share by 2028 due to increasing incidences of infections in animals. 

Veterinary Active Pharmaceutical Ingredients Manufacturing Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile

Major companies are focusing on strategic initiatives like acquisitions and mergers to maintain their dominance in the market. 

Some prominent players in the global Veterinary Active Pharmaceutical Ingredients Manufacturing market include

  • Alivira Animal Health Ltd.
  • Excel Industries Ltd.
  • Ofichem Group
  • Shaanxi Hanjiang Pharmaceutical Group Co., Ltd.
  • Menadiona
  • Afton Pharma
  • Jiangsu Lingyun Pharmaceutical Co., Ltd.
  • SUANFARMA
  • NGL Fine-Chem Ltd.
  • FIS – Fabbrica Italiana Sintetici S.p.A

Order free sample a PDF of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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