Veterinary Excipients Market - By Product Type (Binders, Disintegrants, Emulsifiers, Fillers), Formulation (Oral, Injectable), Animal Type (Livestock, Companion), Application (Drug Formulation, Feed Additives, Biologics), Global Forecast 2024 - 2032

Veterinary Excipients Market size is estimated to record over 3.7% CAGR between 2024 and 2032, owing to the increasing need for pharmaceuticals and healthcare products for animals. Rising advancements in veterinary medicine and biotechnology have led to the development of new pharmaceutical formulations, creating increasing demand for high-quality excipients to enhance drug stability, solubility, and bioavailability.

The growing awareness among pet owners regarding the importance of preventive care and the availability of a wide range of veterinary pharmaceuticals has increased the demand for excipients in the formulation of dosage forms, such as tablets, capsules, and solutions. Additionally, the emergence of novel drug delivery technologies and the strong focus on personalized medicine for animals are contributing to the demand for innovative product with specific functionalities. For instance, in February 2024, Loyal, a biotech company that pioneered longevity drugs for dogs, announced the dosage of first dog in its STAY study, the pivotal clinical trial for its drug LOY-002.

The veterinary excipients industry is classified into product type, formulation, animal type, application, and region.

Based on product type, the market size from the fillers and diluents segment will witness 3.8% CAGR in the forecast period. This can be ascribed to their rising assistance in pharmaceutical formulations by improving the physical properties of dosage forms, such as tablet compressibility and powder flowability for enhancing manufacturing efficiency. Moreover, they offer formulation versatility and compatibility with a wide range of active pharmaceutical ingredients (APIs), making them indispensable components in veterinary drug development.

In terms of formulation, the veterinary excipients market from the injectable segment is projected to register strong growth between 2024 and 2032, due to their pivotal role in the administration of pharmaceuticals to animals. They offer rapid onset of action, precise dosage delivery, and improved patient compliance, emerging as preferred choice for veterinary healthcare professionals. As the demand for injectable pharmaceuticals continues to rise, there is a parallel need for excipients to enhance formulation stability, solubility, and safety. Excipients used in injectable formulations also serve critical functions like buffering, tonicity adjustment, and viscosity modification for ensuring the efficacy and safety of veterinary drugs.

Asia Pacific veterinary excipients industry is slated to record 4.3% growth rate during 2024-2032. The rising population of companion animals and livestock is fueling the need for high-quality excipients to support pharmaceutical formulation development. Furthermore, the rapid expansion of the animal health industry in emerging economies, such as China, India, and Southeast Asian countries is presenting significant opportunities for excipient manufacturers and suppliers. Supportive government initiatives aimed at promoting animal health and welfare, coupled with advancements in veterinary medicine and biotechnology, will further stimulate the regional market growth.