Veterinary Active Pharmaceutical Ingredients Manufacturing Industry Overview
The global veterinary active pharmaceutical ingredients manufacturing market size was valued at USD 6.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.9% from 2021 to 2028. The market is primarily driven by the increasing pet expenditures and number of veterinarians & veterinary visits and high prevalence of zoonotic diseases. The growing livestock population is also driving the market. According to the U.S. Department of Agriculture, there were 103.0 million cattle and 32.1 million beef cows in the U.S. in July 2020, and this number is expected to grow substantially in the coming years. Moreover, factors such as rise in R&D investments, advancements in procedures, high pet adoption rates, increased consumption of meat, and mandatory vaccination are anticipated to boost the market growth during the forecast period.
The increasing number of oral formulations for various veterinary drugs is boosting the demand for veterinary Active Pharmaceutical Ingredients (APIs). These majorly include nonsteroidal anti-inflammatory drugs. Manufacturers are investing in process synthesis, which helps in accelerating the manufacturing process for active pharmaceutical ingredients. Furthermore, the introduction of biologically synthesized and high potency APIs, which act on the target cells with a much lower dose as compared to the general APIs, is also expected to support market growth.
Gather more insights about the market drivers, restraints and growth of the Global Veterinary Active Pharmaceutical Ingredients Manufacturing market
Market players are consistently striving to achieve desired profit margins through geographical expansion. For instance, in November 2020, Ofichem Group expanded with a new office in Hangzhou, China. This supported the company’s growth strategy. In May 2018, Zoetis expanded its manufacturing and supply facility in Kalamazoo to provide high-quality medicines for veterinarian and livestock farmer customers.
Favorable government policies are boosting the manufacturing of veterinary active pharmaceutical ingredients. For instance, initiatives, such as Pharma Vision 2020 by the Indian government, which is aimed at developing the country’s capabilities in the fields of drug discovery, innovation, and drug manufacturing, is expected to have a positive impact on the political scenario of the market. This is expected to fuel the market growth.
Browse through Grand View Research's Healthcare Industry Related Reports
Active Pharmaceutical Ingredients Market - The global active pharmaceutical ingredients market size was valued at USD 209.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030.
Veterinary Medicine Market - The global veterinary medicine market size was estimated at USD 29.4 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030.
Veterinary Active Pharmaceutical Ingredients Manufacturing Industry 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:
Veterinary API Manufacturing Service Type Outlook (Revenue, USD Million, 2016 - 2028)
- In House
- Contract Outsourcing
Veterinary API Manufacturing Synthesis Type Outlook (Revenue, USD Million, 2016 - 2028)
- Chemical-based API
- Biological API
- HPAPI
Veterinary API Manufacturing Product Outlook (Revenue, USD Million, 2016 - 2028)
- Antiparasitic
- Anti-infectives
- NSAIDs
- Vaccines
- Biologics
- Others
Veterinary Active Pharmaceutical Ingredients Manufacturing Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
November 2020: Alivira Animal Health Ltd. acquired Provet Veteriner Urunleri San. Ve Tic. A. S. in Turkey. This furthered the company’s geographical footprint and product lineup.
October 2019: SUANFARMA acquired an API manufacturing plant in Italy called Sandoz Industrial Products SpA. This expanded the company’s production capacity and supported its global expansion strategy.
Key Companies profiled:
Some prominent players in the global Veterinary Active Pharmaceutical Ingredients Manufacturing Industry 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 a free sample PDF of the Veterinary Active Pharmaceutical Ingredients Manufacturing Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment