India Animal Pharmaceuticals Market to Grow with a CAGR of 8.25% through 2029
Growing availability of veterinary hospitals and
clinics and growing occurrences of zoonotic diseases is expected to drive the India
Animal Pharmaceuticals Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “India Animal
Pharmaceuticals Market -Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2029”, the India Animal Pharmaceuticals Market stood
at USD 427.52
Million in 2023 and is anticipated to grow with a CAGR of 8.25% in the forecast
period, 2025-2029. The India Animal Pharmaceuticals Market is experiencing
significant growth, driven by a range of factors. The increasing livestock
population and the rising incidence of animal diseases are augmenting the
demand for animal pharmaceuticals.
The growing pet adoption trend, coupled with rising
awareness about pet health among urban population, is also contributing to the
market expansion. Other drivers include technological advancements in animal
healthcare, government initiatives towards animal health, and the increasing
export of meat and dairy products.
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Animal Pharmaceuticals Market.”
The Indian Animal Pharmaceuticals Market is a rapidly
expanding and dynamic sector that plays a vital and indispensable role in the
production, distribution, and availability of medicines specifically designed
for animal health. With its continuous growth and innovation, this thriving
market encompasses a wide range of pharmaceutical products, catering not only
to pets and livestock but also to a diverse array of animals, ensuring their
overall well-being and optimal health. The market offers an extensive selection
of essential medications, including vaccines, antibiotics, antiparasitics, feed
additives, and various therapeutic drugs, tailored to meet the unique
healthcare needs of animals. These pharmaceutical solutions play a crucial role
in safeguarding the health and welfare of animals, thereby ensuring food safety
and security for the nation.
The recent surge in pet adoption and the growing
emphasis on livestock health have further fueled the remarkable growth and
expansion of this market in India. Moreover, the increasing awareness and
recognition of zoonotic diseases, which can be transmitted between animals and
humans, have highlighted the critical importance of animal healthcare and
disease prevention.
By providing effective and innovative pharmaceutical
solutions, the Indian Animal Pharmaceuticals Market has emerged as an integral
and indispensable component of the broader animal healthcare industry. Its
significant contributions not only promote the overall well-being and longevity
of animals but also ensure the safety, security, and sustainability of the
entire food supply chain. With its unwavering commitment to excellence and the
continuous development of advanced pharmaceutical solutions, the Indian Animal
Pharmaceuticals Market is poised to further revolutionize and elevate the
standards of animal healthcare, ensuring a brighter and healthier future for
animals and humans alike.
The Indian Animal Pharmaceuticals Market is dynamic
and continuously growing, brimming with opportunities for both domestic and
international players. Fuelled by a burgeoning animal husbandry sector, the
demand for animal health products, including pharmaceuticals, is on the rise.
India, with its vast livestock population – the largest in the world – presents
an attractive market for businesses in the animal pharmaceuticals sector. In
the past decade, the livestock sector's contribution to India's GDP has seen a
significant increase, highlighting the sector's importance in the country's
economy. As the livestock sector grows, so does the necessity for effective
veterinary drugs and treatments to ensure the optimum health and productivity
of animals. This trend has led to increased investment and development in the
field of animal pharmaceuticals. The animal pharmaceuticals market in India is
mainly segmented into poultry, dairy, and companion animals. The poultry and
dairy segments hold a major market share due to the high consumption of
chicken, eggs, and milk-based products. The companion animal segment, while
smaller, is growing rapidly due to the rise in pet ownership and increased
spending on pet healthcare.
The market is also impacted by regulatory norms and
government initiatives. The Indian government, for instance, has various
programs aimed at improving animal health, such as the National Programme for
Bovine Breeding and Dairy Development and the Poultry Venture Capital Fund. Indian
companies in the animal pharmaceuticals sector are supported by the country's
strong pharmaceutical manufacturing capabilities. India is one of the largest
producers of generic drugs globally, and this expertise is being leveraged to
produce high-quality, affordable animal pharmaceuticals.
However, the market also faces its share of
challenges. Lack of awareness about animal health and inadequate rural
veterinary services are some of the obstacles to the market's growth. Further,
the threat of counterfeit products and the need for stringent quality control
measures are other issues that the industry grapples with.
Despite these challenges, the Indian Animal
Pharmaceuticals Market offers abundant opportunities. With increasing awareness
about animal health, advancements in technology, and a growing emphasis on
high-quality veterinary care, the market is poised for significant growth in
the coming years. International players are also showing keen interest in the
Indian market. They are either entering the market through acquisitions,
collaborations, or are setting up their manufacturing units in India. This
trend signifies the global recognition of the market's potential. The Indian
Animal Pharmaceuticals Market, backed by strong domestic demand and an
increasing focus on animal health, is a key growth sector. With the right
strategies and effective addressing of challenges, the market holds immense
potential for all stakeholders.
The India Animal Pharmaceuticals Market is segmented
into product type, product, animal type, registration, regional distribution,
and company.
Based on registration, in the Indian animal pharmaceuticals
market, patented drugs currently hold dominance over generic ones. This trend
is primarily driven by the robust research and development efforts undertaken
by pharmaceutical companies, where they invest substantial resources in
developing innovative drugs and securing patent rights to protect their
investments and capitalize on their innovations. However, the market dynamic is
gradually shifting towards generic drugs. This shift can be attributed to
several factors, including the expiration of several key patents, which paves
the way for generic alternatives to enter the market. Additionally, the
increasing demand for affordable and effective animal pharmaceuticals has
contributed to the rising popularity of generic drugs. Their affordability
makes them more accessible to a wider range of consumers, which further fuels
their demand and adoption in the market. As the demand for affordable and
effective animal pharmaceuticals continues to grow, the market landscape is
expected to evolve further. While patented drugs still hold a dominant
position, the rise of generic drugs represents a significant shift in the
industry. This changing dynamic presents both challenges and opportunities for
pharmaceutical companies as they navigate the delicate balance between
innovation, patent protection, and market demand.
In this evolving landscape, pharmaceutical companies
will need to adapt their strategies to meet the changing needs and preferences
of consumers. They will need to focus not only on developing innovative drugs
but also on ensuring the accessibility and affordability of their products.
This could involve exploring collaborations with generic drug manufacturers or
diversifying their product portfolios to include a mix of patented and generic
drugs. By embracing this changing market dynamic, pharmaceutical companies can
position themselves to capitalize on the growing demand for affordable animal
pharmaceuticals while continuing to drive innovation in the industry.
Based on region, the northern region of India is
currently leading the Indian Animal Pharmaceuticals Market due to several
factors. One of the key factors is the region's robust livestock sector, which
comprises a diverse range of animals including cattle, poultry, and
aquaculture. This diverse livestock population creates a significant demand for
veterinary pharmaceuticals to ensure the health and well-being of these
animals. Furthermore, the Northern region of India boasts well-established
distribution networks for pharmaceutical products, ensuring efficient and
timely availability of veterinary medicines and vaccines. This accessibility is
crucial in meeting the increasing demand for animal pharmaceuticals in the
region. In addition, the influence of progressive farming practices in the Northern
region has also contributed to its leadership position in the Animal
Pharmaceuticals Market. Farmers in this region prioritize preventive healthcare
for their livestock, recognizing the importance of early intervention and
disease prevention. This emphasis on preventive measures has led to greater
adoption of vaccines and medicines, driving the growth of the Animal
Pharmaceuticals Market in Northern India. Overall, the combination of a robust
livestock sector, well-established distribution networks, and progressive
farming practices has propelled the Northern region of India to the forefront
of the Animal Pharmaceuticals Market, making it a key player in the industry's
growth and development.
Major companies operating in India Animal
Pharmaceuticals Market are:
- 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
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“The future of the animal pharmaceuticals market in
India is expected to experience significant growth due to several key factors.
The rising prevalence of animal diseases and an increasing population of
livestock driven by the demand for animal-based products are expected to be
major drivers. Additionally, increased awareness about animal health, coupled
with the government's initiatives to promote veterinary healthcare, is further
adding momentum. Technological advancements and innovation in animal healthcare,
such as the development of new vaccines and medications, are also anticipated
to spur the market's expansion.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“India Animal
Pharmaceuticals Market By Product Type (Vaccine, Parasiticides,
Anti-Infectives, Others), By Product [Ectoparasiticides (Ivermectin,
Cypermethrin, Fipronil, Coumaphos, Others) Endoparasiticides (Ivermectin,
Praziquantel, Flubendazole, Milbemycin, Levamisole, Fenbendazole, Pyrantel,
Others) Anti-Inflammatories (NSAIDs, Corticosteroids, Others) Bronchodilators
(Theophylline, Albuterol, Others)], By Animal Type (Companion Animals, Livestock), By Registration (Generic, Patented), By
Region, Competition, Forecast & Opportunities, 2019-2019F”, has evaluated the future growth potential of India Animal
Pharmaceuticals Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India Animal
Pharmaceuticals Market.
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