Global Demand for Animal Drug Compounding Is Anticipated to Reach US$ 4.42 Billion by 2032-End

The global animal drug compounding market has reached a valuation of US$ 2 billion and is forecasted to expand at a CAGR of 8.2% to end up at US$ 4.42 billion by 2032.
Animal drug compounding entails combining, mixing, or ameliorating ingredients to develop a formulation for the specific need of an animal or a small group of animals.
Growth in the adoption of anti-infective agents in animal drug compounding will account for more than 30% of overall market growth.

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Why is the Popularity of Animal Drug Compounding Surging?
Animal care is typically a very expensive affair that is out of reach for households with low incomes. Animal owners typically prefer to go to accredited compounding pharmacies since they provide better services at a reasonable price.
Additionally, the lack of favourable reimbursement for veterinary therapy limits the availability of generic veterinary medications. A majority of branded medications sold on the market for the treatment of animals are expensive. Due to these circumstances, pet owners are more likely to choose compounded pet medications rather than branded ones owing to their affordability, accessibility, and no requirement for a prescription.
"Growing Prominence of Pharmacists' Training for Compounding for Animals"
Recently, there have been initiatives to integrate more veterinary-specific training, which was not traditionally included earlier by many pharmacy schools in their curricula. However, pharmacists, through independent continuing education, receive a majority of veterinary pharmacy-specific training, including compounding.
Additionally, in recent years, the compounding market has undergone a full transformation due to an increase in owner approval of the practice. A few aspects that are favorably affecting the target market include a greater understanding of therapeutic indications for various drugs, increased availability and use of animal health insurance, and improved animal welfare activities.

Segmentation of Animal Drug Compounding Industry Research
By Product:
• Anti-Invectives
• Metronidazole
• Other Antibiotics
• Anti-Inflammatory
• Prednisolone
• Other Anti-Inflammatory
• CNS Agents
• Potassium Bromide
• Gabapentin
• Other CNS Agents
• GI Drugs
• Apo morphine
• Ursodiol
• Cisapride
By Route of Administration:
• Oral
• Injectable
• Topical
• Rectal
• Ocular
By Animal Type:
• Companion Animal
• Dogs
• Cats
• Horses
• Birds
• Others
• Livestock Animals
By Dosage Form:
• Capsules
• Suspension
• Solutions
• Powders
• Others
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & ASEAN
• Oceania
• MEA

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Competitive Landscape
Prominent animal drug compounding manufacturers are Wedgewood Pharmacy, Triangle Compounding Pharmacy, Davis Islands Pharmacy, Custom Med Compounding Pharmacy, Central Compounding Center South, Wellness Pharmacy of Cary, Caringbah Compounding Pharmacy, Millers Pharmacy, Smith's Pharmacy, Specialist Compounding Pharmacy Pte Ltd., and Tache Pharmacy.
We are expecting a very competitive environment in the global market for animal drug compounding. Key industry participants are launching several new products to survive the fierce competition.
In December 2020, Wedgewood Pharmacy and Partners Group inked a binding acquisition agreement to take over New Harbor Capital as the company's principal stakeholder.
In March 2021, Osceola Capital announced the launch of Revelation Pharma Corp. in collaboration with veteran businessman Jacob Beckel, to explore investments and alliances in the pharmacy compounding market.

Key Companies Profiled:
• Wedgewood Pharmacy
• Triangle Compounding Pharmacy
• Davis Islands Pharmacy
• Custom Med Compounding Pharmacy
• Central Compounding Center South
• Wellness Pharmacy of Cary
• Caringbah Compounding Pharmacy
• Millers Pharmacy
• Smith's Pharmacy
• Specialist Compounding Pharmacy Pte Ltd.
• Tache Pharmacy

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Fact.MR has provided detailed information about the price points of key providers of animal drug compounding positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

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