Veterinary Active Pharmaceutical Ingredients Manufacturing Market Size, Share & Trends Analysis Report By Animal Type (Production, Companion), By Service Type, By Synthesis Type, By Therapeutic Category, And Segment Forecasts, 2024 - 2030

Veterinary Active Pharmaceutical Ingredients Manufacturing Market Size, Share & Trends Analysis Report By Animal Type (Production, Companion), By Service Type, By Synthesis Type, By Therapeutic Category, And Segment Forecasts, 2024 - 2030

Veterinary Active Pharmaceutical Ingredients Manufacturing Market Growth & Trends

The global veterinary active pharmaceutical ingredients manufacturing market size is expected to reach USD 13.47 billion by 2030, registering a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The key factors driving market growth include rising animal population & pet humanization, high pet expenditure, initiatives by key market players, outsourcing of manufacturing functions to third parties, and a high prevalence of diseases in animals. Suanfarma, for instance, is involved in the veterinary manufacturing of a wide range of APIs across therapeutic categories, target species, and synthesis types. The company manufactures two proprietary APIs, namely, Tiamulin and Tetracycline HCl.

Outsourcing the manufacturing function to third parties is a significant driver of the market growth. This enables pharmaceutical companies to concentrate on their core competencies, such as R&D, regulatory affairs, and marketing. This strategic focus on core functions enhances overall operational efficiency and accelerates the development and commercialization of new veterinary APIs.Outsourcing to CMOs with expertise in animal health allows pharmaceutical companies to tap into the specialized skills of experienced professionals. This can improve product quality, compliance with regulatory standards, and enhanced manufacturing processes.Contract manufacturers with efficient processes can expedite the production timeline, allowing companies to launch their products more quickly and respond promptly to emerging market needs.

Initiatives by regulatory agencies and animal health organizations are also expected to drive market growth. For instance, in September 2023, the U.S. FDA released an agenda to promote innovation in animal biotech and veterinary products as part of the Animal and Veterinary Innovation Agenda. Thesesteps are intended to modernize the agency’s approach to evaluating and supporting the development of innovative veterinary products thereby increasing regulatory efficiency, flexibility, and predictability. An increase in the number of government initiatives, that help promote animal health, is also expected to fuel the overall market growth. The launch of One Health Initiative for enhancing animal healthcare standards has improved growth prospects for the industry. This joint project unified clinical care, disease surveillance, and education & research areas for better control of diseases.

Veterinary Active Pharmaceutical Ingredients Manufacturing Market Report Highlights

• The chemical-based API segment dominated the market with a share of 71.3% in 2023. The biological API segment is anticipated to grow at the fastest CAGR of 8.3% from 2024 to 2030
• The production animals segment held the largest revenue share in 2023. The companion animals segment is projected to grow at the fastest growth rate from 2024 to 2030
• The in-house service type segment accounted for the highest revenue share in 2023. The contract outsourcing segment is projected to grow the fastest CAGR over the forecast years
• The anti-infectives segment held the highest share in 2023. The other therapeutic category segment includes oncology, diabetes, and other drugs
• North America was the leading regional market in 2023 and held the largest revenue share of 37.8% in the same year. Asia Pacific, on the other hand, is anticipated to register the fastest CAGR of 7.9% from 2024 to 2030
• The growing need for veterinary drugs & pharmaceuticals due to the high prevalence of animal diseases and an increasing focus on pet healthcare drive the demand for veterinary APIs

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