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The India veterinary drugs industry is being driven by the rising animal ownership in the region. This can be attributed to the increased adoption of companion animals such as dogs, fish, and birds, among others, fuelled by the inflating disposable incomes, improved living standards, and rapid urbanisation. In addition, the increasing livestock population, owing to a range of products offered by them, including food, animal waste, and more, is leading to a heightened demand for improved veterinary medical care solutions, which is expected to drive investments in the development of veterinary care facilities.
The rising emphasis of the leading market players in the manufacturing and development of efficient veterinary medications to mitigate the potential spread of infections among animals as well as humans is leading to increased collaborations, which is estimated to catalyse the industry growth in the forecast period. For instance, in June 2019, Merck Animal Health, a division of Merck & Co., Inc. (NYSE: MRK) announced its plans to donate its NOBIVAC® rabies vaccine to Mission Rabies for the next five years, under a collaborative endeavour to eliminate rabies in regions of high risk, primarily in Africa and India as well as other parts of Asia. Such developments are expected to positively impact the growth of the veterinary drugs market in India in the forecast period.
Market Breakup by Product, Animal Type, Route of Administration, Distribution Channel, and Region:
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The major players in the India veterinary drugs market are Zovix Pharmaceuticals, ANI Healthcare, MarchVET, Century Pharmaceuticals Ltd, Adani Pharmachem Private Limited, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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