Veterinary Excipients Market

Veterinary Excipients for Pet Food is Fastest Growing Segment Fueling the Growth of Veterinary Excipients Market

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The global Veterinary Excipients Market is estimated to be valued at US$ 259.76 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

Veterinary excipients are inert pharmaceutical substances that facilitate preparation of veterinary formulations such as powders, tablets, capsules, solutions etc. Used widely as carriers, diluents, binders, lubricants etc, veterinary excipients help deliver the active pharmaceutical ingredients effectively to target animals.

Market key trends:-

One of the major trend witnessed in the veterinary excipients market is the growing demand for efficient veterinary drugs delivery systems. To cater to this, manufacturers are developing novel delivery systems such as lipid based systems, nano-formulations etc that allow controlled and targeted release of active drugs over extended period of time. This helps improve drug efficacy and ensures better compliance.

Segment Analysis:-

The global veterinary excipients market is segmented based on product and animal type. By product, it is divided into binders, fillers, diluents, and disintegrants. Of these, the binders segment holds the largest market share owing to its extensive use for holding ingredients in tablets and capsules together. Binders impart cohesion to the formulation by adhering to other materials present and give it a proper shape. Common binders in veterinary formulations include microcrystalline cellulose, pregelatinized starch, and hydroxypropyl cellulose.

Key Takeaways:-

The Global Veterinary Excipients Market Demand is expected to witness high growth, exhibiting a CAGR of 7.5% over the forecast period, due to increasing pet ownership and rising animal healthcare expenditure.

Regional analysis:-

North America is expected to dominate the global veterinary excipients market over the forecast period. This is attributed to rising pet care expenses and increasing pet adoption in the region. Europe is also projected to hold a significant share of the global market owing to stringent regulations regarding animal welfare and testing.

Key players:-

Key players operating in the veterinary excipients market are BASF SE, Croda Health Care, JRS Pharma, Lipoid GmbH, Azelis, U.K. Vet Chem, Gattefoss, Synergy API, Anzchem, and Vantage. BASF SE and Croda Health Care are the prominent players in the market focused on manufacturing innovative excipients to meet the requirements of veterinary formulations.

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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it