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Veterinary Excipients Market Trends

Report ID: GMI8323
Published Date: Feb 2024
Report Format: PDF

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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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global veterinary excipients industry was valued at USD 1.3 billion in 2023 and is expected to reach USD 1.8 billion by 2032, due to the rising prevalence of zoonotic diseases with a growing emphasis on preventive measures and medications for veterinary/animal healthcare.

Oral formulation segment held a market share of 51.5% in 2023 and is poised to gain prominence till 2032, due to their convenience, ease of administration, and versatility.

North America veterinary excipients industry held a revenue share of 37.5% in 2023 and will grow rapidly by 2032, attributed to its advanced veterinary healthcare infrastructure and high rates of pet ownership.

Alchemy Impex., Azelis Group, BASF SE, Clariant, Colorcon, Croda International Plc, Gattefosse Group, IOI Oleo GmbH, JRS Pharma, Lipoid GmbH, Seppic are some of the major industry contenders.