Veterinary Active Pharmaceutical Ingredients Manufacturing Market 2030: North America’s 37.8% Dominance
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Growth & Trends The global veterinary active pharmaceutical ingredients manufacturing market size is expected to reach USD 13.47 billion by 2030, registering a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The key factors driving market growth include rising animal population & pet humanization, high pet expenditure, initiatives by key market players, outsourcing of manufacturing functions to third parties, and a high prevalence of diseases in animals. Suanfarma, for instance, is involved in the veterinary manufacturing of a wide range of APIs across therapeutic categories, target species, and synthesis types. The company manufactures two proprietary APIs, namely, Tiamulin and Tetracycline HCl. Outsourcing the manufacturing function to third parties is a significant driver of the market growth. This enables pharmaceutical companies to concentrate on their core...