Transforming Indian Veterinary Pharma in India-It's more than just Cat's & Dog's

According to Mordor Intelligence, the India Veterinary Healthcare Market size is estimated at USD 1.25 billion in 2024 and is expected to reach USD 1.89 billion by 2029, growing at a CAGR of 8.63% during the forecast period (2024-2029).

We keep hearing & viewing Ads about food supplements for pet cats & dogs. Still, to my surprise, there is an increasing demand for pharma products associated with diagnosing, treating, and preventing diseases in livestock animals. Livestock are domesticated animals raised for agricultural purposes, primarily for food, fibre, labour, and other products. They play a crucial role in the agricultural economy. These are Horses, Ruminants, Swine, Poultry, cattle, Fish etc.

The Vaccine Segment is Expected to Have the Highest Growth Rate

Notable developments in the recent years.

Swine Fever Vaccine: In May 2021, Hyderabad-based Indian Immunologicals Limited (IIL) launched Raksha Class, a classical swine fever (CSF) vaccine, which is a unique cell culture technology-based vaccine for pigs, developed in collaboration with the Indian Veterinary Research Institute (IVRI),

Investment in Manufacturing: IDEXX Laboratories has announced a significant investment of $147 million to establish a new manufacturing facility in North Carolina. This site will produce veterinary diagnostics products, generating new job opportunities and enhancing production capabilities. Source: GlobalPETS

Innovative Treatments: Dechra Pharmaceuticals acquired Invetx, which specializes in veterinary biotherapeutics, for $520 million. The industry is witnessing advancements in treatments, such as the development of monoclonal antibody therapeutics for chronic diseases in pets. India Pharma Outlook

Challenges Facing the Industry From a Business Owner's Point of View

Based on my interviews with Animal Healthcare Pharmaceutical business owners,

1. Price Sensitivity: Many livestock farmers, especially in rural areas, are highly price-sensitive, making it difficult for companies to promote premium products. Low-cost alternatives and generic medicines are often preferred.
2. Counterfeit products: These are often made to imitate or replicate genuine products presence of counterfeit or substandard veterinary products in the market is a major challenge. This can negatively impact the efficacy of legitimate products and harm the reputation of branded pharmaceutical companies.

Challenges Facing the Industry From Marketer's Point of View

Based on my interactions with a few Medical representatives and Marketing professional's dealings with Animal healthcare products, there are few challenges:

1. Preference for Familiar Products: Many veterinarians are hesitant to switch to new products due to comfort with current solutions.
2. Scepticism About New Products: Veterinarians often prioritize established brands and proven products due to the potential consequences of ineffective treatments.
3. Knowledge Gaps: Veterinarians are not well-informed about the latest advancements in veterinary medicine and how new products can meet specific needs.

Tips for promoting veterinary pharmaceuticals Successfully to the Veterinarians

1. Differentiate: Highlight unique benefits to convince veterinarians to try new products.
2. Ensure effective communication strategies: Conduct product training webinars and WhatsApp communications about how the medicine works best on specific treatments.
3. Case Studies: Demonstrate clear advantages of their products over existing options by presenting clinical trials, patient surveys, case studies on how effective the product worked.
4. Building Communities: Social media platforms like Facebook, Instagram, and LinkedIn allow veterinary pharma companies to create communities around animal health. Engaging posts, videos, and success stories help foster a sense of connection among veterinarians, pet owners, and livestock farmers.
5. Influencer Collaborations: Collaborating with veterinarians and animal health influencers on social media can amplify brand reach and credibility. Influencers can share their experiences with products, helping to drive awareness and adoption.
6. Veterinary-specific Mobile Apps: Many companies are developing mobile applications that provide easy access to product information, dosage calculators, and online ordering. These apps enhance customer experience and streamline the purchasing process. Some of them are Vetcalc,
7. Increase Visibility: With the growing use of the internet in India, especially in rural areas, digital marketing strategies such as search engine optimization (SEO) and content marketing have enhanced the visibility of veterinary products and services, making them accessible to a broader audience.

Based on my research, building strong relationships with veterinary professionals and providing clear, reliable information about product benefits can help Veterinary pharma companies promote their products to veterinarians.