The Animal Drug Compounding Market to walk along the digitized healthcare roadmap, reaching US$ 4.03 Bn

The global animal drug compounding market was valued at US$ 1.84 Bn in 2021, with a projected CAGR of 8.2% for the next nine years. Detailed industry analysis reveals that revenue from animal drug compounding will surge to a market valuation of US$ 4.03 Bn by the end of 2031.

The animal drug compounding market is also segmented by compounding type, with the largest segment being sterile compounding, followed by non-sterile compounding. Sterile compounding involves the preparation of sterile products, such as injectables and intravenous solutions, while non-sterile compounding involves the preparation of non-sterile products, such as creams, ointments, and capsules.

The animal drug compounding market is further segmented by distribution channel, with the largest segment being retail pharmacies, followed by online pharmacies and veterinary hospitals. Retail pharmacies dominate the market due to the easy availability and accessibility of compounding products. However, the online pharmacy segment is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of e-commerce and the convenience of online purchasing.

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Company Profiles:

Hoye's Pharmacy
Vertisis Custom Pharmacy
Smith Caldwell Drug Store
Sixth Avenue Medical Pharmacy
Dougherty's Pharmacy
Triangle Compounding Pharmacy Inc.
Medisca Inc.
Wedgewood Pharmacy
Millers Pharmacy

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Availability of Alternative Dosage Forms Boosting the Demand for Animal Drug Compounding

Commercially available veterinary drugs often come in a single dosage or strength. Animal drug compounding is able to produce desired drugs with alternate dosage and varied dosage forms, which is not possible during the production of branded drugs. Such types of animal drug compounding involve concentrating the drug in the flavoured gel that is generally applied to the paw or fur of the animal, and is administered by licking. Also, dosage forms such as transdermal drug delivery in animals, are widely accepted in diverse range of animal drug compounding. To cite an example, anti-parasitic drugs for cattle and anti-flea drugs for dogs and cats are most successful transdermal drug delivery transdermal compounded drug products.

Lower Availability of Generic Substitutes for Veterinary Drugs

Availability of generic substitutes is much lower for veterinary drugs. Most drugs available for animals for critical diseases are branded drugs. Additionally, currently there is no reimbursement available for veterinary drugs, which indicates that most of the drug expense goes out of the pockets of animal owners. In such circumstances, most pet owners prefer resorting to animal drug compounding that are easily available, cheaper than branded equivalents, and do not require multiple prescriptions.

CNS Drugs to be Most Frequently Dispensed Extemporaneous Medications from Animal Drug Compounding Pharmacies

Central nervous system inflammation is the most common cause of neurological disorders in dogs and cats. Abnormal limb coordination, seizures, behavioral changes, and blindness are cited as the most common abnormalities in dogs and cats with central nervous system inflammation. For instance, according to the International Journal of Pharmaceutical Compounding, central nervous system drugs were the most commonly dispensed medications from animal drug compounding pharmacies with approximately 39% of the total veterinary prescriptions.

Absence of Adverse Event Reporting in Animal Drug Compounding

Individual boards of animal drug compounding pharmacies of various states in the U.S. haven't reported any incidences of adverse events related to animal drug compounding. Furthermore, the U.S. FDA's adverse drug event reporting system for animals is also not aggregated or comprehensive, and is currently being revised. Since 2001, only 62 compound-related adverse events in animal drug compounding have been reported to the FDA. No definitive trends can be derived out of them. Therefore, absence of adverse event reporting in animal drug compounding will upsurge the demand for animal drug compounding pharmacies.

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Read More:
https://www.medgadget.com/2022/02/the-animal-drug-compounding-market-to-get-driven-by-machine-learning.html

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