Veterinary Excipients Market – By Product Type (Binders, Disintegrants, Emulsifiers, Fillers), Formulation (Oral, Injectable), Animal Type (Livestock, Companion), Application (Drug Formulation, Feed Additives, Biologics), Global Forecast 2024 ­ 2032

Veterinary Excipients Market Size

Veterinary Excipients Market size was valued at USD 1.3 billion in 2023 and is anticipated to register of over 3.7% CAGR from 2024 to 2032. The market is anticipated to exhibit steady growth due to the rising prevalence of zoonotic diseases with a growing emphasis on preventive measures and medications for veterinary/ animal healthcare.
 

The surge in demand for veterinary pharmaceuticals has consequently fostered a parallel rise in the need for excipients. For instance, as reported by Health for Animals, a member of the Global National Health Association, around 20% of preventable diseases substantially contribute to animal fatalities, presenting a challenge for farmers, veterinarians, and medicine providers. Thus, the increasing emphasis on disease prevention and treatment has increased the demand for effective medications, consequently driving the need for excipients in formulation. This trend is anticipated to fuel significant market growth as pharmaceuticals prioritize efficacy and innovation in the coming years.
 

Veterinary excipients are an additive used alongside veterinary active pharmaceutical ingredients to enhance stability, solubility, and bioavailability, and facilitate drug delivery. They serve as carriers, diluents, binders, or disintegrants, ensuring appropriate formulation and administration of veterinary pharmaceuticals for animal health management.
 

Veterinary Excipients Market Trends

• As the market for veterinary drugs expands and gains traction, regulatory standards are converging to establish unified guidelines for drug approval, attracting more investors to the market. For instance, the European Medicines Agency's (EMA) updated regulations on veterinary medicines, including revisions to the Committee for Veterinary Medicinal Products (CVMP) and the coordination of veterinary pharmacovigilance activities in the EU / European Economic Area (EEA). The updated regulations aimed to enhance the quality and safety standards for veterinary medicines, necessitating the use of high-quality excipients to comply with the new requirements.
   
• Thus, revised regulations prioritized quality, safety, and efficacy in veterinary medicines, fostering growth in the excipients market.
   

Veterinary Excipients Market Analysis

Based on the product type, the market is categorized into binders, disintegrants, viscosity agents, fillers and diluents, flavoring agents, lubricants and glidants, emulsifiers, preservatives, and other product types. The binder segment is expected to sustain its leading position, generating revenue of around USD 250 million in 2023 with an estimated growth rate of 3.4% during the analysis period.
 

• The surge in demand for oral medications in veterinary practice has led to extensive utilization of binders across a wide range of formulations for various animal species. These binders play a crucial role in ensuring the cohesion and integrity of the dosage form, thereby improving efficacy.
   
• Their critical function in ensuring dosage form, efficacy and stability, positions binders as key components driving the market.

Based on formulation, the veterinary excipients market is classified into oral, injectable, topical, and other formulations. The oral formulation secured the largest business share of 51.5% in 2023.
 

• Oral formulations have emerged as the dominant segment in the market due to their convenience, ease of administration, and versatility. These formulations involve several types, including tablets, powders, drenches, and solutions, catering to various animal species and medical conditions.
   
• Further, factors such as improved palatability, controlled-release technologies, and the ability to modify dosages contribute to the popularity of oral medications among veterinarians and pet owners. As a result, excipients used in oral formulations command a significant share of the veterinary pharmaceutical market, driving innovation and demand for high-quality veterinary active pharmaceutical ingredients.
   

Based on animal type, the veterinary excipients market is classified into livestock animals and companion animals. The livestock animals segment is anticipated to grow at 4% CAGR over the forecast timeline.
 

• The influence of veterinary pharmaceuticals is underscored by the significant livestock population base worldwide. According to the Food and Agriculture Organization (FAO) estimates, there were approximately 1.5 billion cattle, 0.9 billion pigs, 26 billion chickens, 1.3 billion sheep, and 1.1 billion goats in 2022. These vast numbers highlight the substantial demand for veterinary medicines to ensure the health and well-being of these animal populations.
   
• Additionally, the emphasis on livestock health and welfare, coupled with regulatory measures to ensure safety and biosecurity, has highlighted the significance of veterinary medicines and excipients in safeguarding animal health and preserving food sources.
   

Based on application, the veterinary excipients market is classified into drug formulation, feed additives, and biologics. The drug formulations segment is projected to reach around USD 1 billion by 2032.
 

• Outsourcing excipient manufacturing presents cost-saving opportunities for pharmaceutical companies, allowing them to allocate resources to core activities like drug discovery and marketing. In addition, as the pharmaceutical companies prioritize efficiency and quality, the market is poised for growth, with an escalating need for reliable suppliers offering specialized expertise and high-quality excipients. This trend is anticipated to drive demand for specialized excipient manufacturers capable of delivering top-quality ingredients.
   
• The industry is anticipated to experience growth propelled by collaborations between key players and innovations shaping the veterinary service landscape.

In the veterinary excipients market, North America accounted for a substantial market share of 37.5% in 2023.
 

• The region’s dominance in the market can be attributed to its advanced veterinary healthcare infrastructure, high rates of pet ownership, and significant investments in R&D activities for veterinary care.
   
• The surge in pet adoption in the U.S. is set to drive market expansion. Notably, around 70% of U.S. households own pets, as per the National Pet Owners Survey 2021-2022. This trend, along with strategic initiatives is expected to augment the regional market growth. For instance, in August 2022, the California Animal Welfare Funders collaboratively granted USD 30,000 to 19 organizations, emphasizing the growing focus on veterinary care including proper feed, medicines, and diagnostics as required.
   

Veterinary Excipients Market Share

The veterinary excipients industry comprises significant players competing for higher share. Competition is driven by factors such as product innovation, quality, regulatory adherence, and pricing strategies, with companies aiming to secure a leading position in the expanding veterinary pharmaceutical industry.
 

Veterinary Excipients Market Companies

Prominent players operating in the veterinary excipients industry are as mentioned below

• Alchemy Impex.
• Azelis Group
• BASF SE
• Clariant
• Colorcon
• Croda International Plc
• Gattefosse Group
• IOI Oleo GmbH
• JRS Pharma
• Lipoid GmbH
• Seppic
• Synergy API
   

Veterinary Excipients Industry News

• In August 2023, Clariant introduced three innovative VitiPure excipients at the Convention on Pharmaceutical Ingredients (CPHI) Barcelona. The VitiPure range, including VitiPure O 80 Superior, VitiPure Meglumine LEX, and VitiPure CO 35, served as solubilizers and emulsifying agents in both human and veterinary pharmaceutical markets. This launch aimed to enrich Clariant's healthcare business line, catering to evolving industry technologies including biologics.
   
• In May 2022, TheraVet and Nuzoa signed an exclusive distribution agreement, marking a pivotal advancement for the BIOCERA-VET product line in Spain. This partnership allowed TheraVet's entry into the Spanish market, leveraging Nuzoa's sales and marketing prowess in the veterinary sector to promote BIOCERA-VET products.
   

The veterinary excipients market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 - 2032 for the following segments:

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Market, By Product Type

• Binders
• Disintegrants
• Viscosity agents
• Fillers and diluents
• Flavoring agents
• Lubricants and glidants
• Emulsifiers
• Preservatives
• Other product types

Market, By Formulation

• Oral
• Injectable
• Topical
• Other formulations

Market, By Animal Type

• Livestock animal
• Companion animals

Market, By Application

• Drug formulation
• Feed additives
• Biologics

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East and Africa