Animal Drug Compounding Market – By Animal Type (Companion, Livestock), Drug Type (Anti-infective, Anti-inflammatory, Hormones & substitutes, CNS], Dosage Form (Oral, Topical, Injectable), Distribution Channel – Global Forecast 2024 – 2032
Report ID: GMI10492
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Published Date: July 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 13
Tables & Figures: 373
Countries covered: 22
Pages: 170
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Animal Drug Compounding Market
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Animal Drug Compounding Market Size
Animal Drug Compounding Market size was valued at USD 2.2 billion in 2023 and is estimated to grow at 8.3% CAGR from 2024 to 2032. The market has seen substantial growth due to the increasing prevalence of chronic diseases among pets and livestock animals which has increased the emphasis on personalized veterinary care.
Chronic diseases such as arthritis, diabetes, cancer, and other diseases are anticipated to significantly increase the demand for tailored medication solutions that standard pharmaceuticals often fail to provide. This trend towards personalized veterinary care is fostering a greater reliance on compounded drugs to meet the diverse needs of animals further bolstering the market growth.
In addition, global pet ownership continues to grow, owners are becoming more attuned to their pets' specific health requirements, driving the need for customized medications that effectively address these unique conditions, further propelling market growth.
Animal drug compounding is the process of creating customized drugs for animals by combining, mixing, or altering ingredients to meet specific health needs. This practice is essential when commercially available drugs do not adequately address an animal's unique condition, dosage requirements, or formulation preferences. Compounded medications can include tailored dosages, flavors, or forms (such as liquids or gels) to enhance palatability and compliance.
Animal Drug Compounding Market Trends
Growing regulatory support and comprehensive regulatory guidance are expected to enhance market demand by ensuring safety and efficacy in animal drug compounding. This framework aimed to provide veterinarians and stakeholders with clear guidelines, boosting confidence and adoption rates. The increased regulatory oversight and education efforts further drive market growth by minimizing risks.
Additionally, growing advances in veterinary medicine, rising pet ownership and healthcare spending, and the demand for personalized treatments are driving the need for customized compounded medications, fuelling market growth.
Animal Drug Compounding Market Analysis
Based on the animal type, the market is categorized as companion animals and livestock animals. The companion animals segment is set to lead the market, accounting for the largest revenue of USD 1.5 billion in 2023, anticipating its dominance throughout the forecast period.
Based on drug type, the animal drug compounding market is classified into anti-infective agents, anti-inflammatory agents, hormones & substitutes, CNS agents, and other drug types. The CNS agents segment holds the largest market share of 34.2% in 2023 and is expected to maintain dominance throughout the analysis period.
Based on the dosage form, the animal drug compounding market is segmented into oral, topical, injectable, and other dosage forms. The oral segment leads the market, holding the largest revenue share in 2023, and is expected to maintain its dominance with a projected CAGR of 8.1% during the analysis period. The oral segment is further categorized into tablets, capsules, liquid, and other oral dosage forms.
Based on the distribution channel, the animal drug compounding market is segmented into veterinary hospitals pharmacies, compounding pharmacies, and other distribution channels. The compounding pharmacies segment holds the largest revenue share and is projected to reach 53.6% by 2032.
U.S. dominated the North American animal drug compounding market accounting for USD 1.3 billion in 2023 and is anticipated to show considerable growth over the analysis period.
Germany exhibited a high growth potential in the European animal drug compounding market.
The Asia Pacific animal drug compounding market is poised for rapid growth with a CAGR of 8.9% during the forecast period.
Animal Drug Compounding Market Share
The animal drug compounding industry is characterized by the blend of established pharmaceutical companies and specialized compounding pharmacies that shapes the competitive landscape. Leading companies emphasize innovation, quality control, and regulatory compliance to maintain their edge. The market includes both major pharmaceutical players and niche compounding service providers, each offering tailored solutions for various animal health needs. While dominant players leverage advanced technology and extensive distribution networks, smaller entities focus on personalized services and local expertise. This competition is further driven by advancements in veterinary medicine, regulatory changes, and the growing demand for customized treatments.
Animal Drug Compounding Market Companies
Few of the prominent players operating in the animal drug compounding industry include:
Animal Drug Compounding Industry News:
The animal drug compounding market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Animal Type
Market, By Drug Type
Market, By Dosage Form
Market, By Distribution Channel
The above information is provided for the following regions and countries: