The Veterinary Excipients Market is evolving towards customized therapy by 2024

The Veterinary Excipients Market consists of various essential compounds used to facilitate manufacture and administration of animal medicines. These excipients play a crucial role in improving bioavailability and stability of active drugs, enhancing palatability and ensuring ease of administration. Commonly used veterinary excipients include fillers, binders, glidants, disintegrants, preservatives, lubricants and solvents that impart desirable manufacturing and handling properties to veterinary formulations including tablets, capsules, solutions and suspensions.

The Global Veterinary Excipients Market is estimated to be valued at US$ 300.19 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.

Key Takeaways:

Key players: Key players operating in the Veterinary Excipients are Amazon.com, Inc.,

Spotify AB, Apple, Inc., Soundcloud Limited, TuneIn Radio, iHeartMedia, Inc., Google Podcasts, Stitcher, and Pandora Media, Inc. Growing demand: Rising animal healthcare expenditure and increasing pet population worldwide are expected to drive demand for veterinary excipients over the forecast period. Global expansion: Major veterinary excipients manufacturers are focusing on strategic expansions across global regions to cater to growing demand from veterinary drug manufacturers.

Market key trends: Veterinary Excipients Market growth are investing in R&D to develop novel excipients tailored to specific drug delivery systems and improving palatability, digestibility, and bioavailability of formulations for varied disease indications and animal groups.

Porter’s Analysis

Threat of new entrants: High capital requirements for setting up manufacturing facilities pose barrier.

Bargaining power of buyers: Buyers have moderate to high bargaining power owing to presence of many excipient manufacturers.

Bargaining power of suppliers: Suppliers have moderate to low bargaining power due to availability of substitutes.

Threat of new substitutes: Threat of new substitutes is moderate as excipients from pharmaceutical industry have been used.

Competitive rivalry: Competition is high due to presence of global and regional players.

Veterinary Excipients Market Challenges and Opportunities are influenced by the geographical concentration of the market in terms of value, with North America leading. North America accounts for the largest share of the global veterinary excipients market, driven by high pet adoption and companion animal ownership in countries like the United States and Canada.

The fastest growing region for the veterinary excipients market is Asia Pacific. Asia Pacific is expected to witness highest growth during the forecast period due to increasing awareness about animal health, rising per capita animal healthcare expenditure, and growth in the veterinary research industry in emerging countries like India and China in the region.

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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)