The veterinary excipients global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Veterinary Excipients Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The veterinary excipients market size has grown strongly in recent years. It will grow from $0.89 billion in 2023 to $0.94 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. 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 $1.18 billion in 2028 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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Scope Of Veterinary Excipients MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Veterinary Excipients Market Overview
Market Drivers -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.
Market Trends – 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.
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
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Regional Insights – 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.
Key Companies – 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
Table of Contents 1. Executive Summary2. Veterinary Excipients Market Report Structure3. Veterinary Excipients Market Trends And Strategies4. Veterinary Excipients Market – Macro Economic Scenario5. Veterinary Excipients Market Size And Growth…..27. Veterinary Excipients Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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