How has the veterinary excipients market evolved, and where is it heading next?
The veterinary excipients market size has grown strongly in recent years. It will grow from $0.94 billion in 2024 to $1 billion in 2025 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increased pet ownership, advancements in veterinary medicine, growth in demand for animal protein, rise pet healthcare expenditure, and expansion of animal healthcare infrastructure.
The veterinary excipients market size is expected to see strong growth in the next few years. It will grow to $1.24 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing focus on animal welfare, rise in pet insurance coverage, growing prevalence of zoonotic diseases, expansion of veterinary pharmaceuticals market, and emergence of novel excipients. Major trends in the forecast period include personalized medicine for animals, adoption of natural and organic excipients, integration of digital health solutions, innovation in veterinary health industry, and technological advancements.
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What are the key drivers behind the rapid expansion of the veterinary excipients market?
The increase in zoonotic diseases is expected to propel the growth of the veterinary excipients market going forward. Zoonotic diseases are illnesses that can be transmitted from animals to humans. Zoonotic diseases are increasing due to habitat encroachment, climate change, intensive farming, wildlife trade, deforestation, poor sanitation, and ecosystem changes, necessitating urgent action. Veterinary excipients formulate medications to treat zoonotic diseases, ensuring the active ingredients’ stability, efficacy, and safety for animal health. For instance, in November 2023, according to European Union One Health, an Italy-based food safety authority, in 2022, there was a more than 600% increase in locally acquired human West Nile virus infections, a mosquito-borne disease, compared to 2021. Therefore, the increase in zoonotic diseases is driving the veterinary excipients market.
What is the segmentation for the veterinary excipients market?
The veterinary excipients market covered in this report is segmented –
1) By Chemical Group: Polymers, Alcohols, Lipids, Mineral Salts, Other Chemical Groups
2) By Animal Type: Companion Animals, Production Animals
3) By Functionality: Fillers, Binders, Disintegrants, Glidants, Lubricants, Bulking Agents, Buffering Agents, Tonicity Adjusting Agents, Preservatives, Other Functionalities
4) By Application: Biologics, Pharmaceuticals, Medicated Feed Additives
Subsegments:
1) By Polymers: Natural Polymers, Synthetic Polymers
2) By Alcohols: Ethanol, Glycerin, Propylene Glycol
3) By Lipids: Fatty Acids, Phospholipids, Sterols
4) By Mineral Salts: Sodium Salts, Calcium Salts, Potassium Salts
5) By Other Chemical Groups: Sugars, Surfactants, Amino Acids
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Who are the most influential companies in the veterinary excipients market?
Major companies operating in the veterinary excipients market are Archer Daniels Midland Company, Badische Anilin- und Soda-Fabrik AG, Evonik Industries AG, DuPont de Nemours Inc., Clariant AG, Azelis India Private Limited, Lubrizol India Private Limited, Croda International Plc, Ashland Inc., JRS PHARMA GmbH & Co. KG, Vantage Specialty Chemicals, Colorcon Inc., Seppic SA, Spectrum Laboratory Products Inc., Gattefossé SAS, Quality Chemicals S.L., IOI Oleo GmbH, Lipoid LLC, Synergy API Private Limited, SSS Pharmachem Private Limited
What are the most influential trends expected to drive the veterinary excipients market forward?
Major companies operating in the veterinary excipients market are developing innovative products, such as VitiPure excipients, to cater to the growing demand for veterinary health. VitiPure excipients are a line of high-purity excipients designed to enhance the stability and solubility of active pharmaceutical ingredients (APIs) across various applications. For instance, in October 2023, Clariant, a Switzerland-based specialty chemical company, launched a range of VitiPure excipients to offer versatile support for a range of API formulations and administration methods, including delicate substances such as mRNA vaccines and biologics. Notably, VitiPure O 80 Superior is a top-tier, low microbial load Polysorbate 80, prized for its minimal impurities and colorless, odorless nature.
What are the major regional insights for the veterinary excipients market, and which region holds the top position?
North America was the largest region in the veterinary excipients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the veterinary excipients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Veterinary Excipients Market Report 2025 Offer?
The veterinary excipients market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Veterinary excipients are inactive substances used in the formulation of veterinary medications. These substances serve as the vehicle or medium for the active ingredients in the medication, aiding in the manufacturing process and ensuring the drug’s stability, bioavailability, and overall effectiveness. Veterinary excipients are essential components of animal medications, playing crucial roles in the formulation, efficacy, safety, and usability of veterinary pharmaceutical products.
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