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Veterinary Compounding Pharmacies Market: Size, Regional Share, Top Key Players, Latest trends, Growth, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Veterinary Compounding Pharmacies Market
Veterinary compounding is a procedure in which medicines are prepared instantaneously described on the label of a drug in order to make it more accessible for the treatment of animals. Various forms of manipulation of medicines in a veterinary compounding practice include change of drug’s original dosage form, the addition of different flavors to the drug in order to make it as more palatable to animals, changing the concentration and dilution of a drug, mixing of multiple medicines into the single-dose application.
Rise in the adoption of companion animals, inclination towards customized or tailored dosage of medicines, in order to enhance compliance of animals with an alternate route of administration and flavors of the medicines are expected to boost the demand for animal compounding pharmacies. Increased focus of dispensing smooth, creamy and non-gritty medicines to the animals, rise in the availability of different flavours in the dosages of the medicines which are given by compounding pharmacists, growing awareness of generic medications in veterinary healthcare among the pet owners are the few factors which are expected to fuel the growth of veterinary compounding pharmacies market.
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Veterinary Compounding Pharmacies Market is segmented on basis of type of livestock, product type, and Geographical regions.
Based on the type of animal, the global veterinary compounding pharmacies market is segmented:
• Swine
• Poultry
• Ovine
• Bovine
• Equine
• Canine
• Aquaculture
Based on the type of dosage form, the global veterinary compounding pharmacies market is segmented:
• Flavoured Liquids
• Tablet Triturates
• Transdermal
• Capsules
• Flavoured pastes
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Contemporarily there are many medicines which are approved to treat animals. Unmet therapeutic needs to treat rare diseases in animals are expected to create demand for compounded medicines. As an exemplary, many chemotherapeutic medicines which are approved by FDA are used for the cancer treatment of cats and dogs. The safest and effective therapy which is used for the treat cats with chronic constipation is banned from US stores, few such factors are reportedly increasing the trend and adoption of the veterinary compounding pharmacies globally.
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Veterinary compounding pharmacies market is segmented into North America, Asia-Pacific, Europe, and the Middle East & Africa, Latin America. Veterinary compounding pharmacies market is dominated by North America followed by Europe due to increasing practitioners in veterinary and well established veterinary healthcare. Asia Pacific market is expected to create new opportunities for the market players due to increasing in adoption of animals, growing health concerns about the pets in China and India.
Some of the players in veterinary compounding pharmacies market are Triangle Compounding Pharmacy Inc. (U.S), Diamondback Medicines LLC (U.S), Lorraine’s Pharmacy (Ontario), Medisca Inc. (Canada), Slade Dispensary Services (Australia), Wedgewood Pharmacy (U.S), Essential Pharmacy Compounding Vet (Kohll’s Pharmacy & Homecare) (U.S).
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