VETERINARY EXCIPIENTS MARKET ANALYSIS

Market Challenges And Opportunities

Global Veterinary Excipients Market: Restraint

The major factors that hinder growth of the global veterinary excipients market include strict regulatory hold over the approval of the veterinary excipients and drugs. The studies designed to evaluate a new drug’s safety and efficacy must meet strict standards known as Good Laboratory Practices and Good Clinical Practices. The U.S. FDA inspects the facilities that run the studies to ensure they are performing at the highest standards. Additionally, studies must be geographically diverse and statistically designed. This helps to ensure a veterinarian, farmer, and pet parent can have confidence a medicine is safe and effective regardless of differences in climate, patient characteristics, or disease variations across the country.

Furthermore, the adverse effects associated with veterinary excipients is expected to hinder the growth of the market over the forecast period. Excipients can cause adverse effects when combined with certain active ingredients or other excipients. For example, modified release excipients, if not properly formulated, can lead to “dose dumping” or overdose, or can result in increased side effects. Antioxidants such as BHA (butylhydroxyanisol) appear to cause hyperplasia and carcinoma of the pre-stomach in rats at a dose of 20g/kg diet, while BHT (butyl hydroxytuolene) contributed to lesions of the hepatic cells after chronic administration to laboratory animals.

Increasing incidence of zoonotic diseases is expected to drive the market over the forecast period.

Increasing demand for animal healthcare products is expected to drive the market over the forecast period.

An increasing in the number of pet ownership along with increasing livestock population is driving the need for better treatment options for animals, which is resulting in increasing demand for animal healthcare products. This is expected to drive the market growth over the forecast period. For instance, according to the 2021-2022 American Pet Products Association (APPA) National Pet Owners Survey, 70% of the U.S. households own a pet, which equates to 90.5 million homes. Furthermore, according to the data published by the American Pet Products Association (APPA), 45.3 million in U.S. households owns cat and 69.0 million households own a pet.