|
Forecast
Period
|
2025-2029
|
|
Market
Size (2023)
|
USD
427.52 Million
|
|
CAGR
(2024-2029)
|
8.25%
|
|
Fastest
Growing Segment
|
Companion
Animals
|
|
Largest
Market
|
North
India
|
Market Overview
India
Animal Pharmaceuticals Market has valued at USD 427.52 Million in 2023 and is anticipated to
project impressive growth in the forecast period with a CAGR of 8.25% through 2029. The Animal Pharmaceuticals Market
refers to the sector that is responsible for the research, development,
production, and marketing of drugs and healthcare products specifically
tailored for veterinary medicine. This comprehensive market caters to the
healthcare needs of various animals, including our beloved companions such as
dogs, cats, and horses, as well as livestock such as cattle, pigs, and poultry.
In order to address the diverse health conditions and requirements of these
animals, the market offers a wide range of pharmaceutical products. These
include not only vaccines and antibiotics but also antiparasitic medications
and medical feed additives. These products play a crucial role in promoting
animal well-being, improving overall health, and enhancing productivity in
livestock industries.
Moreover,
the Animal Pharmaceuticals Market serves a vital purpose in safeguarding public
health. By preventing the spread of diseases from animals to humans, it
contributes to the overall well-being and safety of both animals and humans
alike. Through continuous research and innovation, this sector strives to
enhance animal health, advance veterinary medicine, and ensure sustainable
practices in the care and treatment of animals. With its focus on improving
animal health, increasing livestock productivity, and preventing the
transmission of diseases, the Animal Pharmaceuticals Market is an indispensable
component of the veterinary industry. It plays a vital role in supporting
animal welfare, ensuring food safety, and maintaining the delicate balance
between human and animal health.
Key Market Drivers
Advanced
Technology Leading to Innovations in Animal Healthcare
Advanced
technology is spearheading a transformative revolution in animal healthcare in
India, bringing forth a significant surge in the demand for animal
pharmaceuticals. With the advent of new-age technologies, such as Artificial
Intelligence (AI), Internet of Things (IoT), and machine learning, the
landscape of veterinary medicine is undergoing a paradigm shift.
These
cutting-edge technologies are being harnessed to develop innovative diagnostic
tools and therapeutic solutions, resulting in improved animal health outcomes
and enhanced welfare. AI and machine learning, for instance, are playing a
pivotal role in predicting diseases, enabling early detection, and facilitating
effective treatment. By analyzing vast amounts of data, these technologies are
empowering veterinarians to make accurate and timely diagnoses, ultimately
saving lives. Furthermore, the Internet of Things (IoT) is revolutionizing the
monitoring of animal health. Through the use of connected devices and sensors,
veterinarians can now have real-time access to vital health information,
allowing for proactive and precise interventions. This has led to an increased
need for pharmaceutical interventions to support and enhance animal well-being.
The
surge in technological innovation is not only elevating the quality and
efficiency of animal healthcare services but is also spurring the growth of the
animal pharmaceutical industry. As the demand for advanced medications and
treatments escalates, the market for animal pharmaceuticals in India is
experiencing a remarkable upswing. The symbiotic relationship between
technology and healthcare in the vibrant animal pharmaceutical sector is giving
rise to a burgeoning market that shows no signs of slowing down. With each
passing day, as technology continues to evolve and intertwine with the field of
veterinary medicine, the future of animal healthcare in India looks brighter
than ever. The convergence of advanced technology and healthcare is paving the
way for a new era of excellence, where animals receive the best possible care
and treatments, ultimately improving their quality of life.
Increasing
Adoption of Pet in India
India
has witnessed a remarkable upswing in pet adoption rates, indicating a growing
trend that directly fuels the expansion of the animal pharmaceuticals market in
the country. As more and more households enthusiastically welcome pets into
their lives, there is a noticeable increase in awareness and commitment towards
the health and well-being of these beloved companions. This heightened
consciousness has not only led to a surge in the demand for veterinary
medicines, vaccines, and specialized pharmaceutical products for animals but
has also fostered a profound willingness among pet owners to invest in premium
healthcare services to ensure their pets' longevity and vitality. Furthermore,
in addition to the proactive approach taken by pet owners, the Indian
government has also implemented various initiatives aimed at controlling and
preventing animal diseases. These governmental efforts are further contributing
to the escalating demand for animal pharmaceuticals, as they emphasize the
importance of preventive healthcare measures and vaccination drives against
prevalent animal diseases.
To
keep pace with the evolving needs of the pet adoption culture in India, the
animal pharmaceuticals industry is equally focused on research and development
endeavors. This sustained emphasis on innovation, coupled with the growing
initiatives for disease prevention and control, is propelling the market's
expansion and opening new avenues for growth and diversification. It is evident
that the increasing culture of pet adoption in India is creating a significant
and lasting impact on the rise of the animal pharmaceuticals industry. With the
continuation of this trend and the collective efforts of pet owners,
governmental bodies, and pharmaceutical companies, the industry is expected to
experience further growth, innovation, and diversification in the coming years,
catering to the evolving needs of pet owners and their furry companions.
Growing Availability of Veterinary
Hospitals and Clinics
In
India, the escalating accessibility to veterinary hospitals and clinics is
demonstrably influencing the surge in the demand for animal pharmaceuticals.
This growth can be attributed to a multitude of factors. Firstly, the
increasing awareness of animal health and welfare among the population,
particularly pet owners, fuels the need for quality veterinary care, thereby
driving the demand for animal drugs. Secondly, advancements in veterinary
medicine, supported by a growing network of hospitals and clinics, have
broadened the range of treatments and preventatives available. Consequently,
pet owners and livestock farmers are leveraging these advancements to maintain
optimal animal health, thus stimulating the market for animal pharmaceuticals.
Additionally, government initiatives promoting veterinary healthcare have also
played a vital role. Policies encouraging organised livestock farming and pet
insurance have further proliferated the availability and accessibility of
veterinary healthcare services. Lastly, the rise in companion animal ownership,
coupled with increasing disposable incomes, has led to more frequent visits to
veterinary hospitals and clinics, escalating the demand for animal
pharmaceuticals. Hence, these factors collectively contribute to the burgeoning
demand for animal pharmaceuticals in the country, with the trend expected to
continue in the foreseeable future.
Rising
Expenditure by The Government In The Development Of Veterinary Healthcare
Infrastructure
The
Indian Government's increasing expenditures in the development of veterinary
healthcare infrastructure have been a key driver in the surge of demand for
animal pharmaceuticals. This surge in demand is particularly noticeable in
rural regions, where livestock farming plays a vital role in the economy. The
government's initiatives are primarily aimed at improving the health standards
of these livestock populations, thereby boosting productivity. The distribution
of pharmaceuticals is streamlined through well-structured veterinary healthcare
systems, ensuring easy accessibility even in remote areas. Additionally, farmer
education programs have increased awareness about the importance of animal
health, encouraging the use of pharmaceuticals for disease prevention and
treatment. This heightened awareness combined with improved healthcare
infrastructure are collectively propelling the Indian animal pharmaceuticals
market forward. The government's commitment to this cause signals a promising
future for this sector, potentially leading to advances in pharmaceutical
products and the introduction of innovative treatment solutions.
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Key Market
Challenges
Use
of Counterfeit Medicine
The
proliferation of counterfeit medicine in India has been a pressing issue for
decades. These counterfeit products not only endanger human lives but also
impact the demand for animal pharmaceuticals. Unregulated and often falsely
marketed, counterfeit medicines are sold at a fraction of the price of
certified animal pharmaceuticals, making them a tempting alternative for
farmers seeking to cut costs. Consequently, the demand for legitimate animal
pharmaceuticals has declined. This is particularly concerning for the rural
agricultural communities of India, where livestock plays a critical role in the
economy and counterfeit medicines can have devastating effects on animal
health. Furthermore, the use of counterfeit medicines can lead to an increase
in drug resistance, diminishing the effectiveness of legitimate drugs over
time. The Indian government, alongside global and local pharmaceutical
companies, is striving to combat this issue through stricter regulations and
public awareness campaigns, in an effort to safeguard both human and animal
health, while bolstering the demand for certified animal pharmaceuticals.
Increasing
Costs of Animal Testing and Veterinary Services
The
escalating costs of animal testing and veterinary services are considerably
impacting the demand for animal pharmaceuticals in India. Animal testing, a
prerequisite for releasing any animal medications in the market, is growing
increasingly expensive due to stringent regulatory norms and high maintenance
costs of animal facilities. Additionally, the rising cost of veterinary
services, driven by the increasing demand for advanced pet care and lack of
qualified professionals, is adding to the financial burden on pet owners and
livestock farmers. This has led to a decline in the demand for animal
pharmaceuticals as people are pressured to seek more affordable alternatives or
reduce the use of such products overall. The cost-prohibitive nature of these
services is particularly problematic in a developing country like India, where
a significant portion of the population still relies on traditional methods of
animal care. The result is a noticeable decrease in the market penetration of
modern animal pharmaceuticals. To reverse this trend, there is a pressing need
for strategic interventions that can lower these costs and make veterinary care
and animal pharmaceuticals more accessible to the larger population.
Key Market Trends
Increased
Number of Strays Animal Accidents
The
rising number of stray animal accidents in India is significantly propelling
the demand for animal pharmaceuticals in the country. As a nation revered for
its cultural and religious diversity, India is home to a staggering population
of stray animals, primarily dogs and cows. These animals often find themselves
in precarious situations, being prone to accidents and health issues emanating
from harsh weather conditions, inadequate nutrition, and diseases.
Consequently, the need for veterinary care, including pharmaceutical
intervention, has surged enormously. In response, the Indian animal health
industry has witnessed a growth in the production and distribution of
pharmaceuticals tailored to address the distinct medical needs of these strays.
The market embraces a wide spectrum of medicines spanning antibiotics,
anti-parasitics, anti-inflammatories, and vaccines, among others. Additionally,
there's an intensified drive amongst numerous NGOs, animal welfare
organizations, and the general public towards rescuing and rehabilitating these
strays, thereby further escalating the demand for animal pharmaceuticals. All
these factors collectively contribute to the burgeoning growth of the animal
pharmaceutical industry in India, turning it into a promising arena for
investment and innovation.
Growing Occurrences of Zoonotic Diseases
The
escalating incidences of zoonotic diseases in India, such as Avian Influenza
and Rabies, are driving an increased demand for animal pharmaceuticals. This
rise is predominantly due to heightened awareness and understanding of the
critical role these diseases play in influencing public health. The
transmission of diseases from animals to humans has necessitated greater focus
on animal healthcare, fueling the market for animal pharmaceuticals. The Indian
animal health sector is responding with an influx of advanced treatments and
vaccines aimed at preventing and controlling these zoonotic diseases. These
pharmaceuticals are designed to combat the specific pathogens responsible for
these diseases, providing effective and targeted solutions. Additionally,
ongoing research and development efforts are continuously improving the
efficacy and safety of these pharmaceuticals, ensuring better outcomes for both
animals and humans.
Furthermore,
increasing pet adoption rates and the growing trend of pet humanization have
contributed to the surge in demand for animal pharmaceuticals. Pet owners are
increasingly willing to invest in the health and well-being of their furry
companions, leading to a rise in consumer expenditure on pet healthcare. This
trend is further supported by the availability of a wide range of specialized
pet healthcare products and services, catering to the specific needs of
different species and breeds.
Moreover,
government initiatives aimed at managing and reducing disease outbreaks through
vaccination campaigns have played a pivotal role in bolstering the demand for
animal pharmaceuticals. Vaccination programs targeting diseases like
foot-and-mouth disease have been instrumental in curbing the spread of these
infections, ensuring the health and productivity of livestock. These
initiatives not only protect animal populations but also contribute to food
safety and security by maintaining healthy livestock for production. The rise
in zoonotic diseases serves as a significant catalyst for the surge in demand
for animal pharmaceuticals in India. The combination of increased awareness,
advanced treatments and vaccines, growing pet ownership, and government
initiatives has created a robust market for these pharmaceuticals. As the
importance of animal health in public health becomes more evident, the need for
effective and reliable animal pharmaceuticals will continue to grow.
Segmental Insights
Product Type Insights
Based on the product
type, in the India animal pharmaceuticals market, the product type that
currently dominates is Parasiticides. This is primarily driven by the high
prevalence of parasitic infections in livestock, which poses a significant
threat to the health and productivity of animals in the agricultural sector.
With the increasing need to maintain healthy and productive livestock, the
demand for effective parasiticides has skyrocketed.
While
Parasiticides hold the largest market share, it's worth noting that Vaccines
and Anti-Infectives also play a crucial role in animal healthcare. Vaccines are
instrumental in preventing infectious diseases, while Anti-Infectives play a
vital role in treating bacterial, viral, and fungal infections. The demand for
both Vaccines and Anti-Infectives is expected to witness substantial growth in
the coming years as the focus on animal welfare and disease prevention
intensifies. As the Indian agricultural sector continues to evolve, there is an
increasing emphasis on ensuring the well-being and productivity of livestock.
This drives the need for a diverse range of animal pharmaceuticals that can
effectively address various health challenges. With the market evolving and
responding to the changing landscape, the India Animal Pharmaceuticals Market
is poised for significant growth and innovation in the years to come.
Animal Type Insights
Based on animal
type, in the Indian animal pharmaceuticals market, livestock holds a
significant dominance over companion animals. This dominance is largely
attributed to the importance of the livestock sector in India's agricultural
economy, which contributes significantly to the country's GDP. Livestock
farming not only provides food and raw material but also employment
opportunities to a large sector of the population. Moreover, the livestock
industry plays a crucial role in ensuring food security, as it supplies milk,
meat, and other animal-derived products to meet the dietary needs of the
population.
With a diverse
range of livestock species including cattle, poultry, sheep, and goats, the
demand for animal pharmaceuticals to ensure the health and productivity of
these animals is high. Farmers and livestock owners rely on effective and
reliable animal pharmaceuticals to prevent and treat various diseases and
infections. Additionally, the increasing awareness about the importance of
animal welfare and the need to maintain optimal health and productivity further
drives the demand for high-quality animal pharmaceuticals. As a result, the
livestock segment continues to dominate the Indian Animal Pharmaceuticals Market,
showcasing its indispensable role in supporting the agricultural and economic
growth of the country.
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Regional Insights
The
Northern region of India, particularly states such as Punjab, Haryana, and
Uttar Pradesh, is currently leading the Indian Animal Pharmaceuticals Market.
This dominance can be attributed to the high concentration of livestock
farming, including dairy and poultry, in these states. The fertile lands and
favorable climatic conditions in these regions provide an ideal environment for
animal husbandry, leading to a thriving livestock industry. Moreover, the
Northern states have been proactive in implementing advanced healthcare
practices and protocols for animal health. They have established veterinary hospitals
and clinics equipped with state-of-the-art facilities and skilled
professionals. This infrastructure ensures that the livestock receives timely
and proper medication and care, further contributing to the growth of the
animal pharmaceuticals market.
In
addition, there has been a significant increase in awareness among farmers and
livestock owners in these states regarding the importance of ensuring the
well-being of their animals. They have realized that the health and welfare of
their livestock directly impact the productivity and profitability of their
businesses. As a result, they are taking proactive measures to provide their
animals with the best possible healthcare, nutrition, and living conditions. The
commitment of the Northern states to prioritize animal health and optimize the
productivity of their livestock industry has established them as leaders in the
Indian Animal Pharmaceuticals Market. This market trend showcases their
dedication to sustainable agriculture practices and their recognition of the
crucial role played by animal health in the overall development of the
agricultural sector.
Recent Developments
- On April 26,
2022, Merck Animal Health introduced the Innovative Hyper InfusiO₂n Solutions, aimed at enhancing sustainability in fish
and hydropower operations while also supporting fish populations.
- On May 26, 2021,
Boehringer Ingelheim India unveiled its latest poultry vaccine, VAXXITEK
HVT+IBD. This innovative recombinant vaccine provides lifelong protection with
just a single shot, catering to various types of production chickens including
broilers, layers, and breeders.
Key Market Players
- SeQuent Scientific Limited
- Elanco India Private Limited
- Merck Animal Health
- Phibro Animal Health Limited
- Boehringer Ingelheim Animal Health
- Zoetis India Limited
- Virbac Animal Health India Private
Limited
- Vetoquinol India Animal Health Private
Limited
- Perrigo Laboratories India Private
Limited
- Bayer (India) Limited
|
By Product Type
|
By Product
|
By Animal Type
|
By Registration
|
By Region
|
- Vaccine
- Parasiticides
- Anti-Infectives
- Others
|
- Ectoparasiticides
- Endo parasiticides
- Anti-Inflammatories
- Bronchodilators
|
- Companion Animals
- Livestock
|
|
|
Report
Scope:
In
this report, the India Animal Pharmaceuticals Market has been segmented into the
following categories, in addition to the industry trends which have also been
detailed below:
- India Animal Pharmaceuticals Market, By Product Type:
o
Vaccine
o
Parasiticides
o
Anti-Infectives
o
Others
- India Animal Pharmaceuticals Market, By Product:
o
Ectoparasiticides
o
Endo parasiticides
o
Anti-Inflammatories
o
Bronchodilators
- India Animal Pharmaceuticals Market, By Animal Type:
o
Companion Animals
o
Livestock
- India Animal Pharmaceuticals Market, By Registration:
o
Generic
o
Patented
- India Animal Pharmaceuticals Market, By Region:
o
North
o
South
o
West
o
East
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in the India Animal Pharmaceuticals
Market.
Available
Customizations:
India
Animal Pharmaceuticals Market report with the given market data, Tech
Sci Research offers customizations according to a company's specific needs. The
following customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
India Animal
Pharmaceuticals Market is an upcoming report to be released soon. If you wish
an early delivery of this report or want to confirm the date of release, please
contact us at [email protected]