Veterinary API Market Size, Share, Opportunities, And Trends By Product Type (Antiparasitic, Anti-infectives, Vaccines, NSAIDs, Others), By Service Type (In House, Contract Outsourcing, Contract Development, Contract Manufacturing), By Synthesis Type (OMICS Chemical-Based API, Biological API, Highly Potent API (HPAPI)), By Route of administration (Oral, Injectable, Topical, Others), And By Geography - Forecasts From 2024 To 2029

The Veterinary API market is projected to grow at a CAGR of 8.28% from an estimated value of US$7.925 billion in 2024 to US$11.794 billion in 2029.

Advances in veterinary medicine, growing pet ownership, and the growing need for animal healthcare products are driving the veterinary API (Active Pharmaceutical Ingredient) market's rapid rise. When creating treatments for a range of animal health conditions, APIs are essential. The market is expanding due to important factors such as increased awareness about animal welfare, regulatory backing, and technology improvements.

Further driving market expansion are the introduction of companion animals as family members and the development of innovative therapeutic alternatives. With an emphasis on improving animal health and wellbeing, the veterinary API market is well-positioned for ongoing innovation and development to satisfy changing industry demands.

Veterinary API Market Drivers:

• Increasing pet ownership is anticipated to bolster the veterinary API market. 

The market for veterinary healthcare products, particularly those that depend on APIs, is driven by an increase in pet ownership. The number of homes adopting pets as family members is increasing, which drives up the demand for drugs, shots, and therapies. This trend increases the necessity for a variety of APIs catered to the healthcare requirements of different species. Innovation in API development is spurred by veterinary medicine's developments and the significant investment that pet owners make in their dogs' health.  

The humanization of pets also raises the bar for cutting-edge medical care, which drives the veterinary API market's growth to satisfy pet owners' changing wants.  The current regulatory framework fosters an atmosphere that is conducive to the expansion of the in-vitro toxicity testing industry.  

According to the American Veterinary Medical Association, in 2021, the number of dogs and cats increased, as has the proportion of families with dogs or cats, although the average number of pets per household decreased. A significant portion of new pet purchases come from animal shelters; in 2020, 38% of dogs and 40% of cats came from them. Dog ownership increased to 45% of households in 2020 from 38% at the end of 2016. Between 83.7 million and 88.9 million dogs were predicted to be owned as pets at the end of 2016, an increase of 9%–16%. There were 26% more households with cats in 2020 than there were at the end of 2016. The number of pet cats was expected to be between 60 million and 61.9 million last year, up from 58.4 million five years earlier.

• Technological advancements are expected to drive the veterinary API market growth.

The veterinary API market is being driven by technological developments in veterinary medicine, such as innovative medication delivery methods and precision medicine approaches. Developments in pharmacogenomics, biotechnology, and nanotechnology have made it possible to create veterinary medications that are more precise and efficacious. Veterinarians and pet owners have evolving demands, which are met by APIs produced with more efficiency and quality because of improved manufacturing techniques. These developments not only make it easier to produce safer and more effective drugs, but they also support the expansion and innovation of the veterinary API market, which improves animal health outcomes.

On November 07, 2022, a definitive agreement was reached by SeQuent Scientific Limited (SeQuent), the foremost animal health firm in India with a strong focus on veterinary formulations and APIs, to purchase a 100% share in Tineta Pharma Private Limited (Tineta), an Indian-incorporated company.SeQuent views India as a strategic market, and this acquisition was anticipated to significantly accelerate the growth of the country's formulations business, which benefits from having a larger presence in the cattle market. The transaction was valued at Rs. 218 crores, and the payment for it was made in the form of preferential allotment of SeQuent's equity shares worth Rs. 65 crores and cash consideration of Rs. 153 crores.

• Diverse pet populations are anticipated to boost the veterinary API market.

The market for veterinary APIs is driven by the wide range of pet owners who own different species of dogs, cats, birds, and reptiles. These needs require a wide range of pharmaceutical treatments. This need drives the creation and manufacturing of specific APIs to create potent drugs, vaccinations, and therapies for many kinds of animals. In response, producers develop novel APIs to cater to the distinct physiological and medicinal needs of various animal species, hence propelling the veterinary pharmaceutical industry expansion. To support the health of different pets around the world, this dynamic landscape encourages ongoing research and development, improving the availability and effectiveness of veterinary APIs.

Veterinary API Market - Geographical Outlook

• Asia Pacific region is expected to grow significantly. 

The veterinary API market in the Asia-Pacific area has grown significantly. This growth has been driven by elements including an increase in pet ownership, a greater understanding of animal health, and a rising need for high-quality veterinary medications. The booming cattle industry in the area has also boosted demand for veterinary APIs. The market is growing because of government programs that support animal health and welfare as well as developments in veterinary medicine research and development. Shortly, the Asia-Pacific veterinary API market is anticipated to maintain its strong development trajectory due to the region's expanding middle class and rising living standards.

 Veterinary API Market Restraints:

• Regulatory concerns can constrain the market for veterinary API.

A significant obstacle in the veterinary API business is making sure regulations are followed in various geographical areas. Regulatory agencies such as the FDA, EMA, and others have strict quality and safety requirements that veterinary APIs must adhere to. However, these requirements might differ greatly between nations, which presents challenges for producers looking to export. Complying with various regulatory regulations introduces additional levels of complexity to the production process, necessitating thorough testing, documentation, and occasionally reformulation. For companies in the veterinary API market, overcoming these regulatory obstacles effectively while preserving product quality and consistency is still a major problem.

Veterinary API Market Key Development:

• January 2024- U.S. Food and Drug Administration announced a draft guidance for the industry titled. This draft guidance's goal was to offer suggestions for good manufacturing practices (GMPs) in the production of active pharmaceutical ingredients (APIs), used in veterinary pharmaceuticals. It made it easier to harmonize a single set of global standards for GMP inspections of establishments producing APIs and raw ingredients for usage in such goods. Additionally, it gave producers and authorities a framework to guarantee that APIs fulfill the desired standards for quality and purity.
• January 2023- Ofichem Groep, a provider of raw materials to the pharmaceutical sector, acquired Leiden-based generic drug manufacturer InnoGenerics.The health ministry also backed the relaunch with a €400,000 guarantee and an additional €15,000.InnoGenerics manufactures over-the-counter medications for a variety of illnesses, such as epilepsy, diabetes, heart disease, and depression. The company produced over three billion tablets annually in total.

Veterinary API Market Scope:

 

Report Metric	Details
Market Size Value in 2024	US$7.925 billion
Market Size Value in 2029	US$11.794 billion
Growth Rate	CAGR of 8.28% from 2024 to 2029
Study Period	2019 to 2029
Historical Data	2019 to 2022
Base Year	2024
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Product Type Service Type Synthesis Type Route of administration Geography
Companies Covered	Sequent Scientific Ltd. (Alivira Animal Health Limited) Stanley Black & Decker (Excel Industries Limited) Ofichem Group Menadiona SUANFARMA
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

Market Segmentation:

• By  Product Type
  • Antiparasitic
  • Anti-infectives
  • Vaccines
  • NSAIDs
  • Others
• By Service Type
  • In House
  • Contract Outsourcing
  • Contract Development
  • Contract Manufacturing
• By Synthesis Type
  • OMICS Chemical-Based API
  • Biological API
  • Highly Potent API (HPAPI)
• By Route of administration
  • Oral
  • Injectable
  • Topical
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits for the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. VETERINARY API MARKET BY PRODUCT TYPE

5.1. Introduction

5.2. Antiparasitic

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.3. Anti-infectives

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.4. Vaccines

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.5. NSAIDs

5.5.1. Market Trends and Opportunities

5.5.2. Growth Prospects

5.6. Others

5.6.1. Market Trends and Opportunities

5.6.2. Growth Prospects

6. VETERINARY API MARKET BY SERVICE TYPE 

6.1. Introduction

6.2. In House

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.3. Contract Outsourcing

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Contract Development

6.3.4. Contract Manufacturing

7. VETERINARY API MARKET BY SYNTHESIS TYPE

7.1. Introduction

7.2. OMICS Chemical Based API

7.2.1. Market Trends and Opportunities

7.2.2. Growth Prospects

7.3. Biological API

7.3.1. Market Trends and Opportunities

7.3.2. Growth Prospects

7.4. Highly Potent API (HPAPI) 

7.4.1. Market Trends and Opportunities

7.4.2. Growth Prospects

8. VETERINARY API MARKET BY ROUTE OF ADMINISTRATION

8.1. Introduction

8.2. Oral

8.2.1. Market Trends and Opportunities

8.2.2. Growth Prospects

8.3. Injectable

8.3.1. Market Trends and Opportunities

8.3.2. Growth Prospects

8.4. Topical

8.4.1. Market Trends and Opportunities

8.4.2. Growth Prospects

8.5. Others

8.5.1. Market Trends and Opportunities

8.5.2. Growth Prospects

9. VETERINARY API MARKET BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. By Product Type

9.2.2. By Service Type

9.2.3. By Synthesis Type

9.2.4. By Route of Administration

9.2.5. By Country

9.2.5.1. United States

9.2.5.1.1. Market Trends and Opportunities

9.2.5.1.2. Growth Prospects

9.2.5.2. Canada

9.2.5.2.1. Market Trends and Opportunities

9.2.5.2.2. Growth Prospects

9.2.5.3. Mexico

9.2.5.3.1. Market Trends and Opportunities

9.2.5.3.2. Growth Prospects

9.3. South America

9.3.1. By Product Type

9.3.2. By Service Type

9.3.3. By Synthesis Type

9.3.4. By Route of Administration

9.3.5. By Country 

9.3.5.1. Brazil

9.3.5.1.1. Market Trends and Opportunities

9.3.5.1.2. Growth Prospects

9.3.5.2. Argentina

9.3.5.2.1. Market Trends and Opportunities

9.3.5.2.2. Growth Prospects

9.3.5.3. Others

9.3.5.3.1. Market Trends and Opportunities

9.3.5.3.2. Growth Prospects

9.4. Europe

9.4.1. By Product Type

9.4.2. By Service Type

9.4.3. By Synthesis Type

9.4.4. By Route of Administration

9.4.5. By Country

9.4.5.1. United Kingdom

9.4.5.1.1. Market Trends and Opportunities

9.4.5.1.2. Growth Prospects

9.4.5.2. Germany

9.4.5.2.1. Market Trends and Opportunities

9.4.5.2.2. Growth Prospects

9.4.5.3. France

9.4.5.3.1. Market Trends and Opportunities

9.4.5.3.2. Growth Prospects

9.4.5.4. Italy

9.4.5.4.1. Market Trends and Opportunities

9.4.5.4.2. Growth Prospects

9.4.5.5. Spain

9.4.5.5.1. Market Trends and Opportunities

9.4.5.5.2. Growth Prospects

9.4.5.6. Others

9.4.5.6.1. Market Trends and Opportunities

9.4.5.6.2. Growth Prospects

9.5. Middle East and Africa

9.5.1. By Product Type

9.5.2. By Service Type

9.5.3. By Synthesis Type

9.5.4. By Route of Administration

9.5.5. By Country

9.5.5.1. Saudi Arabia

9.5.5.1.1. Market Trends and Opportunities

9.5.5.1.2. Growth Prospects

9.5.5.2. UAE

9.5.5.2.1. Market Trends and Opportunities

9.5.5.2.2. Growth Prospects

9.5.5.3. Others

9.5.5.3.1. Market Trends and Opportunities

9.5.5.3.2. Growth Prospects

9.6. Asia Pacific

9.6.1. By Product Type

9.6.2. By Service Type

9.6.3. By Synthesis Type

9.6.4. By Route of Administration

9.6.5. By Country

9.6.5.1. Japan

9.6.5.1.1. Market Trends and Opportunities

9.6.5.1.2. Growth Prospects

9.6.5.2. China

9.6.5.2.1. Market Trends and Opportunities

9.6.5.2.2. Growth Prospects

9.6.5.3. India

9.6.5.3.1. Market Trends and Opportunities

9.6.5.3.2. Growth Prospects

9.6.5.4. South Korea

9.6.5.4.1. Market Trends and Opportunities

9.6.5.4.2. Growth Prospects

9.6.5.5. Taiwan

9.6.5.5.1. Market Trends and Opportunities

9.6.5.5.2. Growth Prospects

9.6.5.6. Thailand

9.6.5.6.1. Market Trends and Opportunities

9.6.5.6.2. Growth Prospects

9.6.5.7. Indonesia

9.6.5.7.1. Market Trends and Opportunities

9.6.5.7.2. Growth Prospects

9.6.5.8. Others

9.6.5.8.1. Market Trends and Opportunities

9.6.5.8.2. Growth Prospects

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard

11. COMPANY PROFILES

11.1. Sequent Scientific Ltd. (Alivira Animal Health Limited)

11.2. Stanley Black & Decker (Excel Industries Limited)

11.3. Ofichem Group

11.4. Menadiona

11.5. SUANFARMA

11.6. NGL Fine-Chem Ltd.

11.7. FIS - Fabbrica Italiana Sintetici S.p.A. 

11.8. Sidhiv Pharma 

11.9. Chempro Pharma Private Limited 

11.10. AMGIS Lifescience Ltd 

Sequent Scientific Ltd. (Alivira Animal Health Limited)

Stanley Black & Decker (Excel Industries Limited)

Ofichem Group

Menadiona

SUANFARMA

NGL Fine-Chem Ltd.

FIS - Fabbrica Italiana Sintetici S.p.A. 

Sidhiv Pharma 

Chempro Pharma Private Limited 

AMGIS Lifescience Ltd