The Global Veterinary API Market size is expected to reach $12.9 billion by 2030, rising at a market growth of 6.4% CAGR during the forecast period
The market expansion can be attributed to factors such as the increasing demand for meat and meat products, the growing concern for animal health and welfare, and technological advancements in animal husbandry.
New York, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Veterinary API Market Size, Share & Industry Trends Analysis Report By Route of Administration, By API Type, By Synthesis Type, By Animal Type, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06488119/?utm_source=GNW Therefore, the Hormones segment generated $566.6 million revenue in the market in 2022. Animal hormones are substances produced by an animal’s body that regulate numerous vital physiological processes, including growth, development, reproduction, and metabolism. Increased understanding among farm and pet owners regarding the accessibility of veterinarians and animal healthcare products is the primary reason for the significant increase in animal medicalization rates in developing nations. The increased number of veterinary visits increased the demand for diagnostic tests and treatment options, increasing the demand for anti-infectives, anti-microbial, antiparasitics, vaccines, etc. Some of the factors impacting the market are increase in understanding of animal health and welfare, increasing prevalence of transboundary and zoonotic diseases, and difficulties in large-molecular-weight API synthesis.The public’s cognizance of animal health and welfare has increased significantly. People are becoming increasingly aware of the significance of providing appropriate care and consideration to animals, including domesticated companions, livestock, and untamed animals. Many organizations are examining the factors that have contributed to the growing awareness of animal health and welfare and the consequences for the veterinary industry and society. Local and international animal welfare organizations have been essential in raising understanding about animal health and welfare. These organizations campaign for the rights and well-being of animals, encourage responsible ownership of pets, and emphasize the significance of humane animal treatment. Due to their potential to cause significant injury to both animals and humans, transboundary and zoonotic diseases are currently a developing concern worldwide. These diseases, like avian influenza, rabies, and African swine fever, threaten public health, animal welfare, and international trade. Consequently, the use of veterinary active pharmaceutical ingredients (APIs) to fight against the spread of these diseases has increased. The availability of adequate and high-quality veterinary active pharmaceutical ingredients is crucial for supporting these initiatives, enabling international cooperation, and mitigating the detrimental effects of such ailments on public health and international trade.However, the synthesis of large molecule APIs, like proteins and peptides, for veterinary applications presents unique challenges. These difficulties stem from the complexity of large molecules and the particular requirements for their production. Synthesis of large molecule APIs can be time-consuming and expensive. The complexity of the synthesis procedure, the need for specialized apparatus and reagents, and the possibility of low yields or purification difficulties can all contribute to increased expenses. It is necessary to optimize expression systems, such as genetic engineering, improvement of culture conditions, and purification methods, to produce enough large molecule APIs.Furthermore, the argument that the COVID-19 pandemic decreased the need for animal care is accurate. In most veterinary hospitals, clinics, and other facilities, foot traffic was restricted due to the global outbreak, infection control measures, and state-wide lockdowns. Consequently, most key actors operated at a deficient level or need to be more competent. Lower output, as well as capacity in veterinary pharmaceutical production, might result in product unavailability and disrupted supply chains, which had a negative impact on market growth.API Type OutlookBased on API type, the market is categorized into parasiticides, vaccines, antimicrobials, anti-inflammatories, hormones, and others. In 2022, the parasiticides segment of the market recorded the highest revenue share. Increasing R&D spending on veterinary API production and rising parasitic infections in companion and livestock animals are expected to contribute to market expansion over the forecast period. Due to accelerated urbanization and increasing disposable income, pet ownership is rising in these nations. In these countries, more pet owners are willing to spend more on their pets’ care, which supports the segment’s demand.Route of Administration OutlookBased on route of administration, the market is segmented into oral, injectable, topical, and other segments. Injectables are anticipated to have a significant market revenue share in 2022. The segment’s expansion can be attributed to the prevalence of chronic diseases in animals, which has increased the demand for vaccines. In addition, increasing livestock populations and animal husbandry and commercializing animal products are projected to increase demand for vaccines, thereby driving segment expansion. Vaccinations against rabies, equine influenza virus, and foot-and-mouth disease are the most frequently administered animal vaccines, which inhibit the transmission of infectious pathogens by reproducing naturally acquired immunity.Synthesis Type OutlookBased on synthesis type, the market is segmented by type of synthesis into chemical-based API, biological API, and highly potent API. In 2022, the biological API segment captured a significant market revenue share. This results from the widespread commercial acceptance of these products and increased research on biological veterinary medications. A number of pharmaceutical companies and contract API manufacturers provide biological APIs for the development of specific therapeutic medications for chronic veterinary diseases such as cancer.Animal Type OutlookOn the basis of animal type, the market is segmented by animal type into companion animals and livestock animals. In 2022, the companion animals segment of the market attained a substantial revenue share. This is due to the rise in pet ownership, the increasing prevalence/incidence of various diseases, the rising cost of pet healthcare, and the large number of companies offering pet pharmaceutical products. Pet owners around the globe are increasingly willing to pay for veterinary medications, such as antibiotics, anti-infectives, nonsteroidal anti-inflammatory drugs (NSAIDs), and parasiticides, among others. Such factors greatly contribute to market growth.Regional OutlookRegionally, the market is analyzed in North America, Europe, Asia Pacific, and LAMEA. North America dominated the market in 2022 by generating the highest revenue share. Significant localized prominence of major animal healthcare companies, beneficial reimbursement programs, an elevated incidence of zoonotic diseases, and expanding R&D in veterinary healthcare all contribute to this substantial share. Zoonoses (zoonotic diseases) are a significant problem in North America because they pose an additional hazard to public health, given that animals are frequently the source of infectious diseases. The high prevalence of zoonotic diseases is a further factor leading to segment growth.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boehringer Ingelheim International GmbH, Zoetis, Inc., Elanco Animal Health, Inc., Merck & Co., Inc., Virbac, Vetoquinol SA (Soparfin SCA), Sequent Scientific Limited, Phibro Animal Health Corporation, Febbrica Italina Sintetici S.P.A. (Nine Trees Group S.p.A) and Excel Industries Limited.Strategies Deployed in Veterinary API MarketSep-2022: Boehringer Ingelheim Animal Health introduced Fencovis, a new calf sour vaccine with a prevention claim, offering unresistant immunity to calves through the cows’ maternal colostrum. With Fencovis, a prevention claims against E. coli F5 and bovine rotavirus, Boehringer Ingelheim Animal Health offers a holistic lean approach to cattle farming through its support and training services.Sep-2022: Zoetis, Inc. took over Jurox, a provider of livestock and Companion Animal products. Through this acquisition, Jurox brings Zoetis a spectrum of key products primed for larger global expansion, a valuable animal health suite, consisting of Alfaxan, an anesthetic product for companion animals.Aug-2022: Merck & Co., Inc. announced expanded production of its facility based in Carlow. The expansion would play a key role in making sure that they continue to sustain future supply to meet medical requirements.Jul-2022: Virbac launched TENOTRYL (enrofloxacin), an injectable solution for use in swine and cattle. This launch aims to serve veterinarians and customers, swine, and cattle producers, and also a suite of new alternatives to improve the health of livestock and finally their profitability.Jul-2022: Zoetis completed the acquisition of Fish Vet Group from Benchmark Holdings PLC, a leading bioagtech company. Following this acquisition, Fish Vet Group would be a strategic addition to Zoetis’ Pharmaq business which develops and sells fish vaccines and provides services in diagnostics and vaccination for aquaculture.Jan-2022: Zoetis Inc. got FDA approval for Solensia, a once-monthly injection administered in the veterinary clinic. The approved injection aims to control the pain of osteoarthritis (OA) in cats, helping enhance their comfort, mobility, and overall well-being.May-2021: Boehringer Ingelheim India unveiled poultry vaccine VAXXITEK HVT+IBD, an advanced recombinant vaccine. The launched vaccine is a single-shot vaccine, making sure life-long protection for all kinds of production chickens, namely broiler, layer, and breeder.May-2021: Zoetis released the porcine circovirus vaccine, the only vaccine that consists of two porcine circovirus type two genotypes. The vaccine offers wider coverage against PCV2 and protection against two of the main pathogens in the worldwide pig industry.Jan-2021: Boehringer Ingelheim partnered with PetMedix, a company engaged in creating treatment solutions for pets. Following this partnership, both companies would aim to advance novel and changeable companion animal antibody therapeutics utilizing PetMedix’s properietary Ky9™ platform. Additionally, PetMedix would undertake discovery activities against a number of key targets, and Boehringer Ingelheim would work to develop and bring these therapies to market.Aug-2019: Elanco Animal Health Inc. took over Prevtec Microbia Inc., a biotechnology startup with expertise in the development of vaccines that help prevent bacteria diseases in food animals. Prevtec offers the line of Coliprotec vaccine, a product designed to protect pigs. Following this acquisition, Elanco would be an exclusive distributor for Coliprotec across Europe and Canada. Moreover, this acquisition brings Prevtec’s research and development programs to Elanco’s portfolio.Jun-2019: Elanco Animal Health completed the acquisition of Aratana Therapeutics, a pet therapeutics company engaged in the development and sales of advanced therapeutics for dogs and cats, and developer of Galliprnat, a first-of-its-kind canine NSAID for osteoarthritis. This acquisition enables Elanco to capture the complete value of the growing product Galliprant and introduce two new products - Entyce, the only FDA-approved veterinary therapeutic, and Nocita, a long-acting local anaesthetic, in Elanco’s portfolio.Scope of the StudyMarket Segments covered in the Report:By Route of Administration• Oral• Injectable• Topical• OthersBy API Type• Parasiticides• Anti-inflammatory• Antimicrobials• Vaccines• Hormones• OthersBy Synthesis Type• Chemical based API• Biological API• Highly potent APIBy Animal Type• Livestock Animals• Companion AnimalsBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• Boehringer Ingelheim International GmbH• Zoetis, Inc.• Elanco Animal Health, Inc.• Merck & Co., Inc.• Virbac• Vetoquinol SA (Soparfin SCA)• Sequent Scientific Limited• Phibro Animal Health Corporation• Febbrica Italina Sintetici S.P.A. (Nine Trees Group S.p.A)• Excel Industries LimitedUnique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: https://www.reportlinker.com/p06488119/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________