What Fueled The Previous Growth In The Veterinary Excipients Market?
The veterinary excipients market has seen considerable growth due to a variety of factors.
• The veterinary excipients market has shown strong growth in recent years. It will increase from $0.94 billion in 2024 to $1 billion in 2025, with a CAGR of 6.0%.
Contributing factors include rising pet ownership, advancements in veterinary medicine, a growing demand for animal protein, increased pet healthcare spending, and the expansion of animal healthcare infrastructure.
What Can Be Expected from the Veterinary Excipients Market Size?
The veterinary excipients market is expected to maintain its strong growth trajectory in upcoming years.
• The veterinary excipients market is expected to grow to $1.24 billion by 2029, with a CAGR of 5.7%.
Factors contributing to this growth include a rising focus on animal welfare, increased pet insurance coverage, the prevalence of zoonotic diseases, the expansion of the veterinary pharmaceuticals market, and the emergence of novel excipients. Trends include the use of personalized medicine for animals, the adoption of natural and organic excipients, the integration of digital health solutions, innovation in the veterinary industry, and technological advancements.
What Are the Critical Driver Fuelling The Veterinary Excipients Market's Growth?
The veterinary excipients market's growth is projected to be driven by the rise in zoonotic diseases. Zoonotic diseases, which are conditions that animals can transmit to humans, are on the rise due to several factors, including encroachment of habitats, climate change, intensive farming, wildlife trading, deforestation, poor sanitation, and changes in the ecosystem. This urgent scenario requires the formulation of medications by veterinary excipients to treat these diseases while ensuring the stability, safety, and effectiveness of its active constituents for the health of animals. An example is the report from the European Union One Health by the Italy-based food safety authority in November 2023, which claimed that human infections of West Nile virus, a disease transmitted by mosquitos, locally acquired, increased more than 600% in 2022 compared to 2021. Hence, the rising prevalence of zoonotic diseases is fueling the growth of the veterinary excipients market.
How Is The Veterinary Excipients Market segmented?
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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Which Emerging Market Trends Are Altering The Veterinary Excipients Industry?
Major corporations in the veterinary excipients market, such as VitiPure excipients, are adapting by offering innovative products in response to increased need for veterinary health. VitiPure excipients, a product line with high purity, are designed specifically to raise stability and solubility of active pharmaceutical ingredients (APIs) in multiple fields of application. For example, Clariant, a specialty chemical company based in Switzerland, introduced a variety of VitiPure excipients in October 2023 to provide flexible support for various API formulations and administration methods, notably delicate substances like mRNA vaccines and biologics. Importantly, VitiPure O 80 Superior, a premium Polysorbate 80 with a low microbial load, is highly valued for its minimal impurities and clear, scentless characteristics.
Who Are the Key Players 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 Is The Most Dominant Region In The Veterinary Excipients 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.
