The Asia Pacific Veterinary API Market would witness market growth of 7.1% CAGR during the forecast period (2023-2030).
The increasing variety of oral formulations for various veterinary medications increases the demand for API manufacturing. The majority of these are nonsteroidal anti-inflammatory medications. In addition, advantageous government initiatives in developing nations are increasing the production of veterinary APIs. Due to the large number of pharmaceutical companies in the Asia Pacific region engaged in developing antiparasitic API, the antiparasitic API landscape has expanded significantly. Anti-infectives are the other market segment expanding swiftly and contributing considerably to market revenue.
In addition, rising preferences for pet insurance, strategic initiatives undertaken by market participants, and government initiatives are anticipated to drive market growth. In addition, the adoption of canines has increased in recent years due to their psychological benefits, which include a reduced risk of cardiac arrhythmias, decreased anxiety, stabilization of blood pressure, increased psychological stability, and an overall boost in well-being. The increasing demand for treatment options can be attributed to the growing number of pet owners over the forecast period.
Various regulatory organizations have been set up in various countries, including India, China, and Japan, to guarantee animal safety. For example, a specialized national PV Programme of India (PvPI) has been formed in India by the Ministry of Health and Family Welfare (MoHFW) to monitor the security of medicines. The awareness of livestock healthcare is growing for all these reasons, which is projected to promote regional market expansion in the upcoming years.
The China market dominated the Asia Pacific Veterinary API Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,005.6 million by 2030. The Japan market is registering a CAGR of 6.4% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 7.7% during (2023 - 2030).
Based on Route of Administration, the market is segmented into Oral, Injectable, Topical and Others. Based on API Type, the market is segmented into Parasiticides, Anti-inflammatory, Antimicrobials, Vaccines, Hormones and Others. Based on Synthesis Type, the market is segmented into Chemical based API, Biological API and Highly potent API. Based on Animal Type, the market is segmented into Livestock Animals and Companion Animals. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Veterinary API Market is Projected to reach USD 12.9 Billion by 2030, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boehringer Ingelheim International GmbH, Zoetis, Inc., Elanco Animal Health, Inc., Merck & Co., Inc., Virbac, Vetoquinol SA (Soparfin SCA), Sequent Scientific Limited, Phibro Animal Health Corporation, Febbrica Italina Sintetici S.P.A. (Nine Trees Group S.p.A) and Excel Industries Limited.
By Route of Administration
By API Type
By Synthesis Type
By Animal Type
By Country
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