Demand for quick recovery drugs and advancements in pharmaceuticals industry is expected to drive demand for India animal pharmaceuticals market in the forecast period.
Adoption of innovative technologies to improve the overall animal health and approach of animal pharmaceutical companies from therapeutics to preventive to increasing the animal productivity is fueling the market demand in the region. Growth in biopharma comprising of serums, blood plasma, toxins and other biologics which is increasing the demand for injectables in the region. Increasing adoption of key market players to develop medicines according to the presence of regionally dominant animal population.
Plethora of players are expanding the pharmaceutical business for India’s large cattle population by introducing therapies and solutions for probiotics, infertility, and mastitis, among others. Poultry business in India is being influenced through launch of nutritional products consisting of acidifiers, enzymes, and toxin binders. Companion and production animal owners support the idea of disease prevention rather than curing the disease as it involves a lot of expenditure and loss of revenue.
Increasing awareness for animal diseases such as black quarter, brucellosis, mastitis is fostering the demand for injectable and dietary supplements. Also, the increasing rural penetration of animal health products and high appeal from rural masses is expected to drive the market demand. Increasing adoption of herbal and alternative medicine by urban population is fueling the animal pharmaceuticals market growth in the forecast period. Presence of abundant resources like eucalyptus and other therapeutic herbs is creating the way for the market growth.
Since the onset of COVID-19 all prominent industries are affected including the veterinary medicine. To reduce the risk of contamination and maintain hygienic conditions in home and pet owners are advised to keep safe distance from their pets. Impact of pandemic has also been seen in livestock stock. Difficulty in moving the animal’s product due to government restrictions and precautionary guidelines is prevailing all over the region. After the lifting of lockdown, animal pharmaceuticals market is expected to pick up the pace eventually.
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India animal pharmaceuticals market can be segregated into product type, product, animal type, registration, regional distribution, and company. Based on product type, market is further divided into vaccine, veterinary medicine, and others. Vaccine segment is expected to witness growth for the forecast period. For disease prevention, there is high demand for vaccines for quick recovery from diseases for both livestock and companion animals.
Fall of epidemics from the last few decades have led to huge decline in animal breeding which is propelling the need for vaccination for protection from such deadly diseases. Mergers between the companies to increase the product portfolio is expected to drive the animal pharmaceuticals market.
Sequent Scientific Ltd. (Alivira Animal Health Ltd.), Elanco India Pvt. Ltd., Merck Animal Health India Ltd., Phibro Animal Health Corporation, Boehringer Ingelheim Animal Health, Zoetis India Limited, Virbac Animal Health India Pvt. Ltd., Vetoquinol India Animal Health Pvt. Ltd., Perrigo Laboratories India Pvt. Ltd., Bayer India Ltd. are the leading players operating in India animal pharmaceuticals market.
Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several animal pharmaceuticals manufacturers are coming up with their technologically advanced offerings.
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“Increasing penetration of emerging technologies with existing animal healthcare devices such as integration of internet of things with animal health monitoring solutions to get real-time analysis and constant monitoring is expected to foster the India animal pharmaceuticals market for the forecast period. Surge in use of wearables and mobile sensors to monitor the animal health and support the easy movement of animals is also a major driver for the expected market growth in the region. Also, the rise in adoption of feed additives which enhance the quality of animal produce such as eggs, milk and others and improving the overall health of the animal is expected to propel the market growth until FY2027.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Animal Pharmaceuticals Market By Product Type (Vaccine, Veterinary, 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, Production Animals) By Registration (Generic, Patented) By Company and By Geography, Forecast & Opportunities, FY2027” has evaluated the future growth potential of India animal pharmaceuticals market and provided statistics & information on market size, shares, 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 the of India animal pharmaceuticals market.
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