Veterinary API Market to Reach $15.84 Billion by 2031

Veterinary API Market by Type (Parasiticide [Albendazole, Ivermectin, Moxidectin, Fipronil] Antibiotic [Penicillin, Cephalexin] Anti-inflammatory [Meloxicam, Carprofen, Deracoxib] Vaccine) Synthesis (Chemical, Biological, HPAPI) – Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Veterinary API Market by Type (Parasiticide [Albendazole, Ivermectin, Moxidectin, Fipronil] Antibiotic [Penicillin, Cephalexin] Anti-inflammatory [Meloxicam, Carprofen, Deracoxib] Vaccine) Synthesis (Chemical, Biological, HPAPI) – Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the veterinary APIs market is expected to grow at a CAGR of 7.7% from 2024 to reach $15.84 billion by 2031. The growth of the veterinary APIs market is driven by the growing expenditure on animal health, the rising prevalence of animal, foodborne, and zoonotic diseases, and the growing demand for animal-derived food products globally. Additionally, increasing awareness regarding animal health in emerging economies and the growing application of precision medicine in veterinary care are expected to create growth opportunities for the stakeholders in this market. However, the stringent regulatory approval process restrains the growth of this market. The environmental impact of veterinary drugs and the dearth of veterinary practitioners is a major challenge to market growth.

Key Players

The key players operating in the veterinary APIs market are Alivira Animal Health Limited (India), Excel Industries Ltd. (India), Suan Farma, S.A.U. (Spain), Chr. Olesen (Denmark), Qilu Pharmaceutical Co., Ltd. (China), FIS – Fabbrica Italiana Sintetici S.p.A. (Italy), Rochem International Inc. (U.S.), NGL Fine-Chem Ltd. (India), MENADIONA S.L (Spain), and Chempro Pharma Private Limited. (India).

Veterinary API Market: Future Outlook

The global veterinary API market is segmented by type (parasiticides [Albendazole, Clorsulon, Ivermectin, Moxidectin, Fipronil], vaccines, antibiotics [penicillin, trimethoprim-sulfa, cephalexin, enrofloxacin, others], anti-inflammatory [carprofen, deracoxib, firocoxib, meloxicam, others], and other types [oxycodone, hydromorphone, pimobendane, levothyroxine, others]), synthesis type (chemical APIs, biological APIs, and high potent APIs), animal type (livestock and companion animals), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on type, the veterinary API market is segmented into parasiticides, vaccines, antibiotics, anti-inflammatories, and other types. In 2024, the parasiticides segment is expected to account for the largest share of the market. This large share can be attributed to the frequent occurrence of parasitic infections in pets and farm animals, increasing pet adoption, and growing livestock population globally. External and internal parasites are some of the most common infections found in animals. Parasiticides are administered frequently in animals by pet owners and farmers to prevent and treat parasitic infections in animals. For instance, fleas and ticks are one of the most common parasitic infections in animals. According to the American Society for the Prevention of Cruelty to Animals, fleas and ticks are the most common pet care concerns in the U.S. Vet APIs are essential for the manufacture of several veterinary drugs including animal parasiticides, leading to the large segment share.

Based on synthesis type, the veterinary API market is segmented into chemical APIs, biological APIs, and highly potent APIs. In 2024, the chemical APIs segment is expected to account for the largest share of the market. Chemical synthesis of vet APIs allows for precise control over the reaction conditions, which is crucial for obtaining consistent and high-quality API batches. The reaction parameters can be adjusted for optimal yield, purity, and desired molecular properties.

Based on animal type, the veterinary API market is segmented into livestock and companion animals. The livestock segment is expected to grow at a higher CAGR during the forecast period. Factors contributing to the segment’s growth are increasing demand and consumption of animal-derived food products in developing countries, increasing livestock populations to meet the growing demand, and government initiatives to prevent and reduce animal disease occurrence. The governments of several countries are undertaking various initiatives to prevent animal diseases. For instance, in 2023, the Government of India launched two initiatives, Animal Pandemic Preparedness Initiatives and World Bank-funded Animal Health System Support for One Health, under these initiatives. These initiatives aim to strengthen integrated disease surveillance & monitoring, early warning & response, vaccine programs for disease prevention and diagnostics for early disease diagnostics, R&D, and production for animal diseases in the country.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the veterinary API market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, and RoE), Asia-Pacific (Japan, China, India, Australia, South Korea, and RoAPAC), Latin America (Brazil Mexico, and RoLATAM), and the Middle East & Africa (Suadi Arabia, UAE, South Africa). North America is expected to dominate the veterinary API market in 2024, followed by Europe and Asia-Pacific. Well-established agriculture and animal husbandry, awareness of animal health among farmers and pet owners, high production and export of animal-derived food products, and a large pet population base are expected to support North America’s largest share.

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Key Questions Answered in the Report-

What is the current revenue generated through the sale of veterinary APIs across the globe?
At what rate is the demand for veterinary APIs projected to grow over the next 5–7 years?
What is the historical market size and growth rate of the global veterinary API market?
What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing market players and new entrants in the market?
Which segments in terms of type, synthesis type, and animal type are creating major traction for the vendors in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the global veterinary API market?
Who are the major players in the global veterinary API market? And what are their offerings in the veterinary API market?
What are the recent strategic developments in the global veterinary API market, and what are the impacts of these developments on the global market?

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