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Veterinary Active Pharmaceutical Ingredients (API) Market Size - By Type (Anti-infectives, Anti-parasitic, NSAIDs), Synthesis Type (HPAPI, Biological, Chemical Based), Contract Outsourcing (CDMO, CMO), Drug Type - Global Forecast, 2023-2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Animal Health and Nutrition | Format: Report available in PDF / Excel Format

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Veterinary Active Pharmaceutical Ingredients (API) Market Size - By Type (Anti-infectives, Anti-parasitic, NSAIDs), Synthesis Type (HPAPI, Biological, Chemical Based), Contract Outsourcing (CDMO, CMO), Drug Type - Global Forecast, 2023-2032

Veterinary Active Pharmaceutical Ingredients Market Size

Veterinary Active Pharmaceutical Ingredients Market size was valued to be USD 6.3 billion in 2022 and is projected to witness growth at a CAGR of 7% by 2032 due to the rising ownership of companion animals, increasing prevalence of animal diseases, rising livestock production, growing awareness of zoonotic diseases, increasing demand for pet insurance, and expansion of companion animal drugs industry.

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Imagine your pet has an ear infection. The vet prescribes antibiotics, but what exactly is in those pills? The secret lies in the Veterinary API, the active ingredient that makes the medicine work. These APIs are like superheroes for your pet's health. They're carefully designed to target specific illnesses in animals and are the backbone of all veterinary drugs. Just like any medicine, Veterinary APIs must meet the highest standards of quality and safety. They're thoroughly researched, tested, and approved to ensure they're effective and won't harm your furry friend. The veterinary industry is constantly innovating, developing new and improved APIs to provide the best possible healthcare for our beloved companions. These APIs are the foundation for better treatments, healthier pets, and a lasting bond between you and your animal family.

Veterinary Active Pharmaceutical Ingredients Market Report Attributes
Report Attribute Details
Base Year 2022
Veterinary Active Pharmaceutical Ingredients Market Size in 2022 USD 6.3 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 7%
2032 Value Projection USD 12.4 Billion
Historical Data for 2018 to 2022
No. of Pages 236
Tables, Charts & Figures 257
Segments covered Type, Synthesis Type, Route of Administration, Service Type, Animal Type, and Region
Growth Drivers
  • Increasing companion animal ownership
  • Rising prevalence of animal diseases
  • Increasing livestock population
  • Growing focus on preventive healthcare in veterinary medicine
  • Increasing investments by pharmaceutical companies in R&D of new products
  • Expansion of companion animal drug market
  • Rising incidence of transboundary and zoonotic diseases
Pitfalls & Challenges
  • Regulations restricting use of parasiticides on food-producing animals
  • Increasing concerns about antibiotic resistance in animals
  • Challenges in synthesis of large molecules
  • High development cost of APIs
  • Low out of pocket expenditure on veterinary care

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COVID-19 Impact Analysis

The COVID-19 pandemic has had a substantial impact on the veterinary active pharmaceutical ingredients market. During pandemic, the number of veterinary visits decreased due to lockdown and fear of exposure to viruses. Also, many pet owners faced financial constraints. The economic downturn caused by the pandemic have influenced consumer spending on pet care products and veterinary services, including veterinary APIs. which has impacted animal healthcare expenditure. This have led to a decline in the demand for certain veterinary APIs and medications. The pandemic prompted a shift in priorities and resources towards human healthcare and pharmaceuticals.

Prices for various veterinary APIs and feed additives skyrocketed as a result of the outbreak.  For example, the price of vitamin C has risen considerably, reaching over 30 RMB (USD 4.19) per kg, or an almost 50% increase. Meanwhile, the price of Vitamin D3 has nearly doubled.

However, the pandemic led to a surge in pet adoptions which created a larger customer base for veterinary services and products, including veterinary APIs. Also, the adoption of telemedicine and virtual consultations in the veterinary industry increased during pademic. Veterinary API suppliers and pharmaceutical companies adapted to e-commerce trends, making it easier for pet owners to access veterinary medications online.

Veterinary Active Pharmaceutical Ingredients Driving Factors

The veterinary active pharmaceutical ingredients market is estimated to develop at a 7% CAGR by 2032. The global pet care sector is worth more than USD 280 billion in 2022. A variety of causes are driving this expansion, including an increase in the prevalence of zoonotic illnesses, an increase in animal populations and pet ownership, and an increase in the number of veterinarians and veterinary visits. The average pet owner spends more than USD 700 on their pet's health care each year. In 2022, Americans spent USD 136.8 billion on their pets, up 10.68% from 2021 (USD 123.6 billion).

Veterinary Active Pharmaceutical Ingredients Restraint

In veterinary active pharmaceutical ingredients market the cost of veterinary medications can be substantial, making them unaffordable for some pet owners. A course of therapy for a common skin illness in dogs, for example, might cost between USD 50- 100. 

The veterinary API regulatory environment is getting increasingly stringent, raising the cost of compliance and making it more difficult for new companies to enter the market. Also, a substantial investment is required during the drug development process which may lead to higher drug pricing to recoup costs.

Veterinary Active Pharmaceutical Ingredients Market Analysis

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When it comes to medicines for animals, there are different types to treat various conditions. Some of the most common include those that fight infections, parasites, and inflammation. Parasite-fighting medicines have been the most popular in recent years, taking up around 25% of the market in 2022. This is likely because parasites can cause a lot of problems for animals, making them sick and hurting their ability to grow and reproduce. As a result, farmers and pet owners alike are always looking for the best ways to prevent and treat these conditions. For example, many pet owners use monthly flea and tick treatments to keep their furry friends healthy. And farmers often give their livestock deworming treatments to get rid of parasites that can live in their stomachs and cause health issues. These regular treatments mean that parasite-fighting medicines are in high demand for veterinary use.

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Based on synthesis type, the veterinary active pharmaceutical ingredients market is segmented into chemical-based API, biological API, and highly potent API (HPAPI). Chemical-based API segment held a major market share of 57.4% in 2022. Chemicals in their active form are used for the manufacturing of active pharmaceutical ingredient (API) that produces the intended effect. Chemical based APIs have pharmacological activity mainly used with combination of other ingredients to diagnose, cure, mitigate, and treat veterinary diseases. Chemicals acts as a base to convert raw materials into API thereby potentially creating a sustainable healthcare system and influencing product innovation.

Based on contract outsourcing type, the veterinary active pharmaceutical ingredients market is segmented into contract outsourcing and inhouse. Contract manufacturing segment held a majority market share in 2022 and is forecasted to grow at 7.4% CAGR by 2023. This robust expansion rate is owing to increasing preference for outsourcing manufacturing process of APIs and drugs to reduce the operational cost of the company.

The contract manufacturing segment is further sub segmented into contract development and contract manufacturing. Increasing demand for veterinary APIs has influenced the service providers including contract manufacturing and contract development. Moreover, outsourcing will continue to grow as it significantly lowers the cost of R&D expense and in-turn, increase the profit margin for the company.

Based on animal type, the veterinary active pharmaceutical ingredients market is segmented into companion animals and livestock. The companion animals segment held a significant market share in the veterinary active pharmaceutical ingredients accounting for USD 4,139.1 million in 2022. The rising pet ownership rates have led to a larger customer base for veterinary products, including APIs.

The humanization of pets, where they are treated as members of the family, has driven pet owners to seek higher standards of care. This cultural shift translates into higher demand for advanced treatments, further contributing to the prominence of companion animals in the veterinary API market.

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The veterinary medicine market in North America is a powerhouse, with over 39% of the global revenue in 2022. It's set to grow even bigger, reaching a whopping $4.5 billion by 2032. Why so much money? It's all about our furry friends and our hungry livestock. People are spending serious cash on their pets, and there are a lot of animals grazing our fields. The government is also chipping in with some support. Plus, our government is making it easier for companies to sell these medicines, and it's paying off. The U.S. is seeing more and more diseases that can spread from animals to humans. That means we need more animal health products, and veterinary medicines are a big part of that. To give you an idea, a whopping 61% of the infectious diseases we get from animals happen in the U.S. That's a lot! So, the demand for veterinary medicines is only going to keep going up.

Veterinary Active Pharmaceutical Ingredients Market Share

Few of the key players operating in the veterinary active pharmaceutical ingredients market include

  • Vetpharma
  • Huvepharma
  • Alivira Animal Health Ltd
  • NGL Fine-Chem Ltd
  • Excel Industries Ltd.
  • INDUKERN Chemie AG
  • AMGIS Lifescience Ltd.

Veterinary Active Pharmaceutical Ingredients Industry News

  • In 2022, Zoetis launched a new API called toceranib phosphate, which is used to treat canine mast cell tumors.
  • In October 2022, Huvepharma announced the re-launch of PoultrySulfa drug consisting of sulfamerazine, sulfamethazine and sulfaquinoxaline API in the U.S. This drug is used to control coccidiosis and acute fowl cholera in chickens and turkeys caused by pathogens. This launch helped the company to enhance their product portfolio and increase their customer base.
  • In November 2020, Ofichem Group announced the opening of new business office at Hangzhou, China. This strategic move helped the company to expand their geographical presence, enter new markets, gain a wide customer base, and enhance their business revenue.

 The veterinary active pharmaceutical ingredients market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments

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By Type

 

  • Anti-infectives
  • Anti-parasitics
  • Vaccines
  • Hormones
  • Biologics
  • Anti-inflammatory
  • Other APIs

By Synthesis Type

  • Chemical based API
  • Biological API
  • Highly potent API (HPAPI)

By Route of Administration

  • Oral
  • Injectable
  • Topical
  • Other routes

By Service Type

  • In-house
  • Contract outsourcing 
  • Cntract development
  • Contract manufacturing

By Animal Type

  • Companion animals
  • Livestock animals

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa

 

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