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Animal Drug Compounding Market: Growing awareness of animal welfare is expected to create opportunities for the Market
Animal Drug Compounding Market
As assessed by Persistence Market Research, the oral formulation segment is expected to hold the largest Animal Drug Compounding Market value of US$ 1.29 Billion by 2023.
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Animal drug compounding is a growing industry, as pet ownership and spending on pet care continue to rise globally. In addition, advances in veterinary medicine and an increasing number of aging pets are also contributing to the growth of the Animal Drug Compounding Market.
Compounded animal drugs are often used to treat chronic conditions, such as pain management, cancer, and other illnesses, as well as to improve the palatability of medications. They can be made in various forms, including liquids, suspensions, gels, and topical ointments.
However, the regulation of animal drug compounding can vary greatly between countries and regions, with some areas having more stringent rules and oversight than others. This can impact the growth and accessibility of the Animal Drug Compounding Market.
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Despite these challenges, the animal drug compounding market is expected to continue growing in the coming years, as pet owners and farmers seek more personalized and effective treatment options for their animals.
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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