The Veterinary drugs market in India is expected to register a Compound Annual Growth Rate of 7.90 percent until 2027. An increase in R&D & procedural advancements for developing medicines for better animal healthcare as well as the increase in the effect of medicines is anticipated to bolster the Veterinary pharmaceuticals market. Furthermore, what is influencing the market demand is the rise in the shift in the preference of consumers for adopting pets in order to satisfy the quality of living standards.
“There is a huge demand for viral and bacterial vaccines for livestock in the market. In line with this, the rising prevalence of zoonotic diseases is also providing a boost to market growth. Mainly, farmers are looking for health products which can improve the productivity of their livestock without any side effects,” says Mourya Boda, Chairperson, Brilliant Bio Pharma. While the market for veterinary medicine is classified mainly into parental, oral, & others, the parental segment is leading the global market. Its contribution was over 44.0 % in 2020. This growth is mainly credited to the instant onset of action and availability of products. The oral segment is likely to show the highest growth over the forecasted timeframe on the other hand, given the advances in oral veterinary medicines such as tablets, chewable, etc. In this article lets look into the key trends in Veterinary drugs market.
Use of Nano technology in veterinary medicines Today, nanotechnology is implemented in veterinary medicines to enhance diagnosis, therapy, animal growth promotion, and production. Nanoparticles are primarily employed as alternative antibacterial agents to minimize antibiotic usage and enhance harmful bacteria detection. They're also utilized to improve the features and performance of novel medications and vaccine candidates, as well as to diminish drug resistance in animal organisms. For example , the therapy for prostatic cancer in dogs and cats has been substituted by gold nanoparticles. Nanoshells are nanoparticles that are used to identify tumour cells and destroy the ones that are unhealthy. Magnetic particles are also utilised to identify cancer cells and deliver an anti-cancer medicine in close proximity to them. Nanochips are being utilised to diagnose diseases early on and to determine treatment efficacy. These biochiops (microassays) are also utilized to diagnose DNA problems and research gene expressions.
Production of combination medication feed additives Medicated feed additives facilitate maintaining animal health as well as promote growth & feed efficiency and they are promoted as an extra nutrient or drug for livestock since they comprise vitamins, fatty acids, pharmaceuticals, amino acids, minerals, etc. About seventy percent of the firms in the medical feed additives sector have started to introduce new combinations of medicated feed additives, which are formed using 2 or more medicated feed additives for improving the effectiveness of the product. Veterinary medicines producers have to mainly focus on the development of new combination medicated feed additives for increasing efficiencies of the end-product. For instance, Zoetis provides a comprehensive portfolio of products & services with an aim to help manufacturers achieve flock health & sustainable coccidiosis management over time. The firm has also introduced a medicated feed additive that combines the proven safety & therapeutic strength of chlortetracycline & sulfamethazine without the use of penicillin.
Easy to give drugs such as oral drugs On account of easing the delivery of drugs to animals, the rapid rise in pet ownership is fueling the demand for easy-to-give veterinary drugs for treating veterinary diseases. The increasing pet ownership & the increasing trend of treating companion animals as family members facilitate pet owners for providing quality care to their pets. It comprises quality treatments of numerous diseases and in order to cater to the surging demand, veterinary medicines enterprises have commenced producing easy-to-give drugs for treating several diseases of companion animals including oral solutions for feline hypertension. Therefore, Veterinary medicine manufacturers have to consider developing easy-to-give drugs that include oral liquid solutions for treating numerous veterinary diseases. For instance, Colorcon’s, proven & trusted Starch 1500 partially pregelatinized maize starch, is being used as a key excipient in formulating veterinary oral dosage forms.
The road ahead In order to succeed in the growing competitive animal medicine market, players in the veterinary medicine market are getting into new geographies & developing innovative products by sharing skills & expertise with other players in the landscape. Organizations in the animal medicine market have to consider strategic collaborations & partnerships with other market players for boosting innovations & establishing category leadership.
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