Pharmaceutical Excipients for Veterinary Use is the largest segment driving the growth of Veterinary Excipients Market
The global Veterinary Excipients Market is estimated to be valued at US$ 259.76 Mn or 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.
SWOT Analysis:-
· Strength: Multifunctional excipients with combined functionalities simplify formulations and lower production costs.
· Weakness: Stringent regulatory norms delay product launches.
· Opportunity: Growing demand for advanced drug delivery solutions provides opportunities for innovative excipient development.
· Threats: Intense competition from existing and new market players increases pricing pressure.
Key Takeaways:-
The Global Veterinary Excipients Market Growth is expected to witness high, exhibiting CAGR of 7.5% over the forecast period, due to increasing pet ownership and growing animal health expenditure. North America dominated the market in 2023, owing to early adoption of novel veterinary drug delivery technologies and strong presence of global excipient manufacturers in the region.
The regional analysis indicates that Asia Pacific is expected to be the fastest growing market during the forecast period attributed to rising awareness about animal health, growing meat consumption and increasing prevalence of zoonotic diseases.
Key players operating in the veterinary excipients market include BASF SE, Croda Health Care, JRS Pharma, Lipoid GmbH, Azelis, U.K. Vet Chem, Gattefoss, Synergy API, Anzchem, and Vantage. These players are focusing on new product launches, capacity expansion and mergers & acquisitions to strengthen their market position.
Read More - https://www.trendingwebwire.com/veterinary-excipients-market-size-and-tredns-analysis/
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