Dublin, October 01, 2021 (GLOBE NEWSWIRE) – The Global Market Analysis Report on the Manufacture of Veterinary Active Ingredients, Market Share and Trends by Service Type (Internal, Contract Outsourcing), by Synthesis Type, by Product, by Region, and Segment Forecasts, 2021 -2028 “Report was added to ResearchAndMarkets.com to offer.
The global veterinary drug manufacturing market is projected to reach $ 10.4 billion by 2028 and grow at a CAGR of 6.9% over the forecast period. The increasing prevalence of chronic disease in animals and growing concern among pet owners are the main drivers of market growth.
In addition, the growing prevalence of zoonotic diseases is driving the demand for drugs, which in turn increases the demand for Active Pharmaceutical Ingredients (APIs) for the manufacture of these drugs. According to the Centers for Disease Control and Prevention (CDC), it was estimated in July 2017 that 6 out of 10 known infectious diseases in humans can be transmitted from animals, and 3 in 4 new or emerging infectious diseases in humans are caused by animals.
Government organizations are involved in the issuance of various guidelines to promote veterinary services around the world that are expected to contribute to market growth in the years to come. In May 2018, for example, the OIE International Standards, part of the WTO framework, issued standards to improve animal health that will also have an impact on human health. One of the biggest challenges turned out to be the lack of technical expertise in this area.
The increasing number of veterinarians should also stimulate market growth. According to the American Veterinary Medical Association, there were 113,394 veterinarians in the United States in 2018 compared to 110,531 veterinarians in 2017. Of those, 48,898 were in private clinical practice exclusively for pets. According to the Canadian Veterinary Medical Association (CVMA), the approximate number of veterinarians in Canada is 12,921.
Veterinary API Manufacturing Market Report Highlights
- The service type Contract Outsourcing had the largest share of sales of over 58% in 2020 due to the advantages associated with its use
- The growing number of outsourcing activities by pharmaceutical companies is intended to stimulate segment growth
- The chemically based API synthesis type dominated the market in 2020. This is due to its high usage by many large manufacturing companies
- The vaccines product segment held the largest market share of over 23% in 2020 due to the increased demand for vaccines due to the high prevalence of chronic diseases in animals
- North America dominated the market in 2020 due to the presence of established companies and technologically advanced infrastructure
- However, given the high potential and fast growing markets in India, Japan and China, the Asia-Pacific region is expected to have the fastest CAGR over the forecast period
- Industry players are involved in strategies such as mergers and acquisitions, collaborative arrangements, and geographic expansions to create a competitive advantage
Key topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Summary
Chapter 3 Market Variables, Trends, and Scope for Manufacturing Veterinary APIs
3.1 Outlook on the market line
3.2 Mapping out penetration and growth prospects
3.3 Price Analysis
3.4 Veterinary API Manufacturing Market Dynamics
3.5 PEST analysis
3.6 Forecast analysis
Chapter 4 Veterinary APIs Manufacturing Market: Segment Analysis by Service Type, 2016-2028 (MILLION USD)
Chapter 5 Veterinary APIs Manufacturing Market: Segment Analysis by Synthesis Type, 2016-2028 (MILLION USD)
Chapter 6 Veterinary APIs Manufacturing Market: Segment Analysis by Product, 2016-2028 (MILLION USD)
Chapter 7 Veterinary APIs Manufacturing Market: Regional Analysis, By Service Type, Synthesis Type, and By Product 2016-2028 (in MILLION USD)
Chapter 8 Veterinary APIs Manufacturing Market: Competitive Analysis
8.1 Categorization of market participation
8.2 Company’s market share / position analysis, 2020
8.3 Latest developments and impact analysis according to key market participants
Chapter 9 Competitive Landscape
- Alivira Animal Health Limited
- Excel Industries Ltd
- Ofichem group
- Shaanxi Hanjiang Pharmaceutical Group Co., Ltd.
- Afton Pharma
- Jiangsu Lingyun Pharmaceutical Co., Ltd.
- NGL Fine-Chem Ltd.
- FIS – Fabbrica Italiana Sintetici SpA
Please visit https://www.researchandmarkets.com/r/sxtto8 for more information on this report
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