India Veterinary Drugs Market to Grow at a CAGR of 7.90% During 2024-2032, Aided by the Growing Animal Ownership

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.

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Market Breakup by Product, Animal Type, Route of Administration, Distribution Channel, and Region:

• The market is divided, based on product, into biologics, pharmaceuticals, medicinal feed additives, and others.

• Based on animal type, the industry is segregated into companion and livestock.

• The industry is segmented, on the basis of route of administration, into oral, parenteral, and topical.

• On the basis of distribution channel, the market can be categorised into veterinary hospitals and clinics, pharmacies and drug stores, online, and others.

• Region-wise, the India market for veterinary drugs can be divided into North India, East India, West India, and South India.

Key Findings of the Report:

• The India market for veterinary drugs is being driven by the increased adoption of companion animals by individuals.

• The rising government investments in the development of veterinary medical infrastructure have significantly contributed to the market expansion.

• Increasing livestock population is driving the demand for improved healthcare facilities for animals, which is also aiding the industry growth.

• The rising investments in developing medications such as routine vaccines to safeguard animals and their owners from any possible disease or infection are further propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the India market for veterinary drugs for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the products, animal types, routes of administration, distribution channels, and major regions of veterinary drugs.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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