Vet Compounding Pharmacy Industry Analysis in North America is Projected to Reach a Value of US$ 3,536.4 Million by 2034

The North American veterinary compounding pharmacy market is valued at approximately US$ 1,521.0 million in 2024. It is expected to grow at a robust CAGR of 8.8%, reaching an estimated revenue of US$ 3,536.4 million by 2034.

The industry has experienced significant transformation driven by several key factors. These include a rising demand for animal health insurance, growing animal welfare initiatives, and increased awareness of the therapeutic benefits of various pharmaceutical compounds, all of which are fueling the market for veterinary compounded medications.

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Which Trend Impacts the Vet Compounding Pharmacy Industry in North America?

"Rising Demand for Personalized Medications Among Pet Owners"

Growing awareness and concern for pet health and well-being are driving the increasing preference for customized medications. Many pet owners seek treatments tailored specifically to their pets' unique health conditions, which are often not addressed by standard, mass-produced pharmaceuticals.

This trend is further supported by easy access to information across various platforms, empowering pet owners to actively participate in healthcare decisions for their animals. Consequently, veterinarians are increasingly recommending compounded medications to better meet the individualized needs of each pet.

Country-wise Insights

"The United States Poised to Capture a Significant Market Share"

The veterinary compounding pharmacy market in the United States is projected to hold a dominant 85.5% share in 2024, with an estimated value of US$ 1,300 million. The sector is expected to grow at a CAGR of 8.7% during the forecast period, reaching approximately US$ 3,006 million by 2034.

In Canada, the vet compounding pharmacy industry is anticipated to account for 8.7% of the market share in 2024, generating around US$ 132 million in revenue. The market there is forecast to expand at a CAGR of 9.6%, reaching US$ 331 million by 2034.

Mexico's veterinary compounding pharmacy market is expected to grow steadily, with a CAGR of 8.5%, and reach a value of US$ 199 million by 2034. In 2024, Mexico held a 5.8% share of the market. Veterinarians in the region are increasingly recognizing the benefits of compounded medications to treat health conditions that standard commercial drugs cannot adequately address. Advances in veterinary diagnostics and treatment methods are further driving the demand for these customized solutions.

Segment-wise Insights

CNS agents are projected to remain the dominant product category in the North American veterinary compounding pharmacy market, capturing an estimated 36.7% share in 2024. This segment is expected to generate revenue of approximately US$ 558.3 million in 2024 and grow at a CAGR of 9% from 2024 onward.

CNS medications are increasingly being used to manage Attention Deficit Hyperactivity Disorder (ADHD) and Attention Deficit Disorder (ADD) in companion animals, particularly dogs. These treatments help alleviate a range of behavioral symptoms in animals, whether or not they have been formally diagnosed with ADHD, making CNS compounds an important part of veterinary care.

Competitive Landscape

Key players in the North American veterinary compounding pharmacy market include Hoye's Pharmacy, Vertisis Custom Pharmacy, Smith Caldwell Drug Store, Sixth Avenue Medical Pharmacy, Dougherty Pharmacy, Triangle Compounding Pharmacy Inc., People's Choice Pharmacy, and Pratt's Compounding Pharmacy.

Leading providers are expanding their reach by offering home delivery services through local channel partners, enhancing convenience for pet owners. They are also providing prescription refill options to improve customer experience. Additionally, these companies are focusing on growth strategies such as stringent quality control, regulatory compliance, product differentiation, and offering a diverse range of compounded medications for multiple animal species.

Recent Developments in North American Vet Compounding Pharmacy:

In October 2022, Medisca announced the lease of a new 60,000-square-foot facility in Plattsburgh, New York, aimed at optimizing its distribution and packaging operations.
In January 2021, the U.S. FDA issued guidance (GFI #256) outlining conditions under which it will not enforce regulations that restrict the bulk manufacturing of medications.
In October 2020, Virbac received FDA approval for Stelfonta, a novel injectable treatment for canine mast cell tumors, a common form of skin cancer in dogs.

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Segmentation of North America Vet Compounding Pharmacy Industry Research

By Product Type :
CNS Agents
Anti-infective Agents
Hormones and Substitutes
Anti-inflammatory Agents
Others
By Animal Type :
Companion Animals
Livestock Animals
By Formulation :
Oral
Injectable
Others
By Region :
North America
Europe
Latin America
East Asia
South Asia and Oceania
Middle East and Africa

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