DUBLIN–(BUSINESS WIRE)–The “Veterinary Active Pharmaceutical Ingredients Manufacturing Market- Growth, Trends, Covid-19 Impact, And Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.
The Veterinary API Manufacturing Market is projected to register a CAGR of 7.10% during the forecast period (2022-2027).
- Alivira Animal Health Limited
- Excel Industries Limited
- Ofichem Group
- NGL Fine-Chem Ltd.
- FIS – Fabbrica Italiana Sintetici S.p.A.
Key Market Trends
The Vaccine Segment is Expected to Hold a Major Market Share in the Veterinary API Manufacturing Market
The increased need for vaccines due to the high frequency of chronic diseases in animals is credited with the segment’s growth. Furthermore, rising livestock populations and animal husbandry, as well as the commercialization of animal products, are likely to raise vaccine demand, propelling the segment forward.
The increased demand for animal-derived food products is driving the expansion of this market, as is the rise in the companion animal population, rising prevalence of zoonotic diseases, and activities by various government agencies and animal groups to protect animal health. The high storage cost of vaccinations, on the other hand, is limiting market expansion.
The rising number of cattle disease outbreaks and the ever-increasing livestock population are the primary reasons for ruminants’ widespread popularity. Meat, protein, food, milk, and other commercial items such as wool and leather are all derived from animals. Rabies vaccinations, equine influenza virus vaccines, and foot and mouth disease vaccines are the most commonly used animal vaccines, which inhibit the transfer of infectious pathogens by replicating naturally acquired immunity. Growing worries about food security, as well as increased animal husbandry, are driving up demand for livestock vaccines. Globally, increased demand for animal products has resulted in increased livestock output.
The demand for animal products is increasing due to several causes such as changing food choices as a result of changing lifestyles and population increase. These elements are assisting the market’s expansion. The constant development of technologically superior vaccines, as well as the spread of cattle diseases, have all contributed to changing market dynamics.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global Veterinary API Manufacturing Market. Zoonoses pose a concern to human health because animals are frequently the natural source of disease. The rising frequency of zoonotic diseases is a major factor driving market expansion.
According to the U.S. Department of Agriculture, there were 103.0 million cattle and 32.1 million beef cows in the U.S. in July 2020, and this number is expected to grow substantially in the coming years. Moreover, factors such as rise in R&D investments, advancements in procedures, high pet adoption rates, increased consumption of meat, and mandatory vaccination are anticipated to boost the market growth during the forecast period.
Favorable reimbursement programs are boosting demand for veterinary medication, giving the industry in this region a solid foundation for growth. The high frequency of livestock and zoonotic illnesses, which result in large-scale animal mortality, can lead to large lose. In addition, the market is predicted to rise due to the huge number of well-established pharmaceutical companies that are continually working to expand the commercialization of their vaccines and expand their geographic reach.
Furthermore, the rising frequency of canine illnesses, which is raising vaccination adoption for the same, and the growing pet population in the United States are two significant factors contributing to the regional market’s rise. The expanding popularity of pets, the development of leading vaccination players, increased product availability, and investments in manufacturing facilities in the region are all supporting this market’s growth.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Zoonotic Diseases
4.2.2 Increasing Animal Population And Pet Ownership
4.2.3 Rising Number of Veterinarians and Veterinary Visits
4.3 Market Restraints
4.3.1 Lack of Awareness and High Cost of Animal Care
4.3.2 Stringent Government Regulations
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.2 By Synthesis Type
5.3 By Service Type
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/xpzezq