The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Strong Recent Growth
The veterinary excipients market has experienced robust growth in recent years. The market size is set to increase from $0.89 billion in 2023 to $0.94 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.4%. This growth can be attributed to:

• Increased Pet Ownership: More people are owning pets, leading to higher demand for veterinary products.
• Advancements in Veterinary Medicine: Technological improvements enhance the quality and range of veterinary treatments.
• Rising Demand for Animal Protein: Increased consumption of animal protein fuels the need for effective animal health solutions.
• Increased Pet Healthcare Expenditure: Growing spending on pet health drives demand for advanced veterinary products.
• Expansion of Animal Healthcare Infrastructure: More facilities and resources dedicated to animal health boost the market.

Future Growth Projections
Looking ahead, the veterinary excipients market is expected to grow to $1.18 billion by 2028, with a CAGR of 5.7%. Key drivers for this growth include:

• Increased Focus on Animal Welfare: Rising awareness and concern for animal well-being propel market expansion.
• Rise in Pet Insurance Coverage: More pet owners are investing in insurance, increasing demand for veterinary care.
• Growing Prevalence of Zoonotic Diseases: Increased incidence of diseases that spread from animals to humans fuels market growth.
• Expansion of Veterinary Pharmaceuticals: Growth in the veterinary pharmaceuticals sector boosts demand for excipients.
• Emergence of Novel Excipients: Innovative excipients cater to new veterinary applications and needs.

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Major Trends in the Market
Several significant trends are shaping the veterinary excipients market:

• Personalized Medicine for Animals: Tailoring treatments to individual animal needs enhances efficacy.
• Adoption of Natural and Organic Excipients: Growing preference for natural ingredients drives innovation in excipients.
• Integration of Digital Health Solutions: Digital technologies are being incorporated into veterinary care.
• Innovation in Veterinary Health: Ongoing advancements lead to more effective and safer veterinary products.
• Technological Advancements: New technologies improve the formulation and effectiveness of veterinary medications.

Impact of Zoonotic Diseases
Zoonotic diseases, which can be transmitted from animals to humans, are a major factor driving market growth. Factors contributing to the rise of zoonotic diseases include:

• Habitat Encroachment: Increased human activity in wildlife areas.
• Climate Change: Altered weather patterns affect disease spread.
• Intensive Farming: High-density farming conditions increase disease risk.
• Wildlife Trade and Deforestation: Disruption of natural habitats promotes disease transmission.
• Poor Sanitation and Ecosystem Changes: These factors exacerbate the spread of diseases.

For example, a significant increase in West Nile virus infections in 2022 highlighted the need for effective veterinary solutions. Veterinary excipients play a crucial role in ensuring the stability and efficacy of medications used to combat these diseases.

Innovative Solutions Revolutionizing the Market
Major companies are driving innovation in the veterinary excipients market with new products:

• VitiPure Excipients: Clariant introduced VitiPure excipients in October 2023, designed for enhanced stability and solubility of APIs. These include high-purity excipients like VitiPure O 80 Superior, known for its minimal impurities and suitability for delicate formulations such as mRNA vaccines.

Key Acquisitions and Market Expansion

• Domes Pharma Group and SentrX Animal Care: In August 2023, Domes Pharma Group acquired SentrX Animal Care Inc., expanding its portfolio in veterinary ophthalmology and strengthening its presence in North America. This acquisition illustrates the strategic moves companies are making to enhance their market position and capabilities.

Market Segmentation
The veterinary excipients market is segmented into:

• Chemical Groups: Polymers, Alcohols, Lipids, Mineral Salts, Other Chemical Groups
• Animal Types: Companion Animals, Production Animals
• Functionality: Fillers, Binders, Disintegrants, Glidants, Lubricants, Bulking Agents, Buffering Agents, Tonicity Adjusting Agents, Preservatives, Other Functionalities
• Applications: Biologics, Pharmaceuticals, Medicated Feed Additives

Regional Insights

• North America: Was the largest market region in 2023.
• Asia-Pacific: Expected to be the fastest-growing region in the forecast period.

As the veterinary excipients market continues to evolve, it will be driven by innovations, increasing focus on animal health, and the growing need for effective solutions in veterinary care.

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