The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
Strong Future Growth Anticipated
The veterinary excipients market is projected to continue its strong growth, reaching $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.
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Growth Driver 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.
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Veterinary Excipients Market Major Players And Market Trends
Key players in the veterinary excipients market include Archer Daniels Midland Company, Badische Anilin- und Soda-Fabrik AG, Evonik Industries AG, DuPont de Nemours Inc., Clariant AG.
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.
Veterinary Excipients Market Segments:
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
Geographical Insights: North America Leading The Market
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.
Veterinary Excipients Market Definition
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.
Veterinary Excipients Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Veterinary Excipients Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on veterinary excipients market size, veterinary excipients market drivers and trends, veterinary excipients market major players, veterinary excipients competitors' revenues, veterinary excipients market positioning, and veterinary excipients market growth across geographies. The veterinary excipients market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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