Veterinary Excipients Market Size Worth USD 1.57 Billion By 2032 | CAGR: 4.5%

The global veterinary excipients market size is expected to reach USD 1.57 Billion by 2032, according to a new study by Polaris Market Research. The report “Veterinary Excipients Market Share, Size, Trends, Industry Analysis Report, By Chemical Group (Polymers, Alcohols, Lipids, Mineral Salts, Others); By Function; By Animal Type; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global market for veterinary excipients is set to witness growth, driven by the escalating demand for animal healthcare products, primarily in the companion animal segment. The increasing awareness among pet owners about the significance of preventive care and their willingness to provide better healthcare to their pets has led to a surge in demand for veterinary drugs and nutritional supplements, subsequently fueling the demand for excipients. Moreover, advancements in technology and the development of new drug delivery systems have paved the way for the use of novel excipients in veterinary medicine.

Despite this, the strict regulations governing the use of excipients in animal health products pose a significant challenge to market growth. Another impediment encountered by the veterinary excipients market is the need for greater awareness among veterinarians and animal owners regarding the importance of excipients in animal health products. Despite these challenges, the market outlook for veterinary excipients remains positive, with continuous investments in research and development and an increasing focus on improving animal health. The demand for high-quality excipients is expected to keep growing.

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Veterinary excipients are essential components in the development and production of animal healthcare products. They perform vital functions such as stabilization, solubilization, and taste masking. The growing demand for animal healthcare products can be attributed to various factors, including the increasing trend of humanizing pets, the rising awareness of animal health, and the advancements in animal healthcare technology. Moreover, the surge in demand for veterinary products that aid in the prevention and treatment of various conditions is due to the increasing awareness of animal health issues and the significance of preventive care.

Veterinary Excipients Market Report Highlights

• The market in 2023 was primarily led by the polymers segment, owing to their exceptional properties and diverse applications in animal health products.
• In 2023, the function segment of the market was majorly dominated by the solubilizers/solvents segment. This was due to the fact that these excipients play a crucial role in boosting the availability and stability of active pharmaceutical ingredients (APIs) in animal health products.
• In 2023, the market observed the highest revenue share in the pharmaceutical application segment. This was primarily due to the rise in demand for animal healthcare products and the increasing prevalence of diseases among animals.
• In 2023, the market was dominated by the North American region, which contributed significantly to the total market revenue. This dominance was attributed to various factors, such as the presence of well-established animal veterinary industries, advanced healthcare infrastructure, and an increasing demand for high-quality animal feed additives in the region.
• The global key market players include Anzchem, Ashland, Azelis, Colorcon, Croda International Plc, IOI OLEOCHEMICAL, JRS Pharma, Lipoid GmbH, Quality Chemicals S.L, SYNERGY API, Vidara, etc.

Polaris Market Research has segmented the veterinary excipients market report based on chemical group, function, animal type, application, and region:

Veterinary Excipients, Chemical Group Outlook (Revenue - USD Billion, 2019 - 2032)

• Alcohols
• Lipids
• Mineral Salts
• Polymers
• Others

Veterinary Excipients, Function Outlook (Revenue - USD Billion, 2019 - 2032)

• Binders
• Coating
• Diluents & Fillers
• Solubilizers/Solvents
• Stabilizers
• Others

Veterinary Excipients, Animal Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Companion Animals
• Production Animals

Veterinary Excipients, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Biologics
• Medicated Feed Additives
• Pharmaceuticals

Veterinary Excipients, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of MEA

Veterinary Excipients Market Report Scope