Veterinary Excipients Market Growth Accelerated by Microencapsulation Technology

Veterinary excipients are used to enhance the bioavailability of active pharmaceutical ingredients in veterinary drugs. They include dispersing agents, binders, preservatives, antioxidants and lubricants that protect veterinary drugs from undesirable reactions. Microencapsulation technology is increasingly being used to encapsulate active ingredients and excipients which helps in targeted delivery and controlled release of drugs. The Global Veterinary Excipients Market Size is estimated to be valued at US$ 299.25 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Microencapsulation technology is driving the growth of the veterinary excipients market. It involves coating or embedding active ingredients or excipients within inert secondary materials to form small capsules known as microcapsules. This technology protects unstable ingredients from degradation and reactions and allows for controlled or sustained release of drugs. It is widely being adopted as it improves bioavailability and efficiency of drugs while reducing dosing frequency. Growing use of microencapsulation to enhance drug delivery for vaccines, hormones and other medications is a key trend fueling demand for excipients in the veterinary industry.

Segment Analysis
The global veterinary excipients market can be segmented based on product, animal type, and region. The animal type segment can be further divided into companion animals and livestock. The companion animals sub-segment currently dominates the market due to rising pet adoption and increasing expenditure on pet healthcare. Livestock includes cattle, swine, poultry, and others.

Key Takeaways
The global veterinary excipients market is expected to witness high growth over the forecast period.

Regional analysis: North America is expected to dominate the global veterinary excipients market during the forecast period. This is attributed to the growing pet adoption, rising animal healthcare expenditure, and presence of major market players in the region. Asia Pacific is expected to be the fastest-growing market. Growth in this region can be attributed to increasing awareness about animal healthcare, rising disposable income, and growing meat consumption.

Key players operating in the veterinary excipients market are Amazon.com, Inc., Spotify AB, Apple, Inc., Soundcloud Limited, TuneIn Radio, iHeartMedia, Inc., Google Podcasts, Stitcher, and Pandora Media, Inc. Amazon.com, Inc. has emerged as the largest player in terms of revenue. The company has experienced significant growth in podcast streaming due to its Prime membership. Spotify has also gained major popularity among podcast listeners.

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