- Market Research
- Animal Drug Compounding Market Segmented By CNS Agents, Anti-infective Agents, Hormones and Substitutes, Anti-Inflammatory Agents Product with Animal Drug Compounding for Companion Animals, Animal Drug Compounding for Livestock Animals with Oral Animal Drug Compounding, Injectable Animal Drug Compounding Formulation
Key Questions Answered in Report
- What is the expected growth rate for the global animal drug compounding market through 2031?
By value, Persistence Market Research has projected over 8% CAGR for animal drug compounding sales during 2021-2031. Market value is expected to rise from US$ 1.9 Bn in 2021 to an estimated US$ 4 Bn by the end of the forecast period.
- Which is the top selling animal drug compounding product?
CNS agents hold the largest market share with a value of US$ 668 Mn by product. The market, through the introduction of flavoured compounded drugs for companion animals, dogs, cats, and exotic pets, has seen positive demand drive with the inclusion of smooth textured formulations in order to increase patient compliance.
- Who are the prominent animal drug compounding manufacturers?
As per Persistence Market Research, over 30-40% of the market share is held by tier-1 players. Major market players are focusing on strategic developments such as mergers & acquisitions, expansions, and new product launches.
Some of the prominent companies offering animal drug compounding include Vertis is Custom Pharmacy, Smith Caldwell Drug Store, Sixth Avenue Medical Pharmacy, Doughertys Pharmacy, Triangle Compounding Pharmacy Inc., Medisca Inc., Wedgewood Pharmacy, Millers Pharmacy, Chiron Compounding Pharmacy, and MEDS Canadian Compounding Pharmacy.
Find Out More about the Report Coverage
- 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
Report Also Addresses:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Animal Drug Compounding and How to Navigate
- Recommendation on Key Winning Strategies
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Sales of Animal Drug Compounding Products from 2016 to 2020 Vs Projections for 2021 to 2031
The global animal drug compounding market is set to witness healthy growth at a CAGR of 8% over the forecast period of 2021-2031, with value estimated to top US$ 4 Bn by the end of 2031. As per products, CNS agents dominate the market, holding a share of 36%, followed by anti-infective agents with amarket share of 24%.
The process of creating personalized medication to cater to the needs of an individual animal or small groups of animals by the process of combining, manipulating, or customizing ingredients is called drug compounding. Animal drug compounding is performed on the orders of a veterinarian, by a licensed veterinarian or pharmacist. According to a report by the American Veterinary Medical Association, the veterinary services market is a US$ 33 Bn industry.
Demand is boosted by the unavailability of generic veterinary medicines in desired dosage forms for optimum efficiency. Many pet owners are extremely well-informed, and thus, express demand for a higher level of veterinary care. This factor is supported by the absence of reported adverse events related to animal drug compounding.
In addition, the adverse drug event reporting system for animals is not aggregated or comprehensive by the U.S. FDA. The market for animal compounded drugs is to witness a surge in demand over the forecast period due to rising costs of branded drugs and scarcity accessibility of medications.
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What are the Roadblocks for Animal Drug Compounding Stakeholders?
Compounding therapy failure, lack of interdisciplinary training and resources, coupled with unsafe compounding practices in terms of contamination of sterile environments resulting in spread of pathogens and fungal infections, and lack of legal requirements to demonstrate the exact desired strength of compounded preparations are some restraints to market growth.
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What are the Driving Factors for Animal Drug Compounding Sales?
Presence of plethora of choices in the form and different functional routes of administration, such as oral or injectable, aid market growth through increased availability of products. The injectable segment holds a market share of 14.6%, with the oral segment dominating with a market share of 77.2%, with their values estimated to increase at a CAGR of 4.7% and 8.7%, respectively.
For instance, anti-parasitic drugs for cattle involves a transdermal delivery of animal drug compounding products. Major drivers associated with animal drug compounding manufacturing include the availability of alternative dosage forms and frequent dispensing of CNS drugs as extemporaneous medications.
Commercial veterinary drugs are not available in varied strengths of dosages or alternate forms of dosage, and adhere to a single dosage strength. Animal drug compounding, through the inherent property of customized forms and strength of dosage present a favorable market scenario.
Animal drug compounding also varies in texture and provides flavor options to best suit the needs of different types of animals. CNS agents are dominantly used for the treatment of central nervous system inflammation in dogs and cats, caused by neurological disorders, which include seizures and behavioral changes as the most common disorders. For instance, as per the International Journal of Pharmaceutical Compounding, CNS drug dispensing amounted to 39% of the total animal drug compounding prescriptions.
What are the Key Strategies of Animal Drug Compounding Providers?
Key market players are intensifying the production of CNS agents along with anti-infective, hormonal, and anti-inflammatory agents to improve sale opportunities and expand their product portfolios. Growing trend of using tablets and chewable animal drug compounding as oral formulations has boosted sales, with the base year value of US$ 1.4 Bn over injectables as a mode of administration.
For instance, the Smith Caldwell Drug Store in the U.S. includes various dosage forms of animal drug compounding, including sprays, gels, tablets, and capsules, among other forms, thus offering a wide range of products to choose from.
What Makes the U.S. the Largest Market for Animal Drug Compounding?
The U.S. dominates the North American industry in terms of market share of 88.5%, and is projected to remain dominant during the forecast period. CNS agents is the most lucrative segment by product, and are expected to maintain this position over the next ten years. Compounding pharmacies in the U.S. are regulated by state boards of pharmacy and the FDA.
Why is Demand for Animal Drug Compounding Flourishing in the U.K.?
The U.K. holds the second position in terms of market value share in of Europe. The market here holds around 23% share in the region. Rising awareness about medical treatments resulting in increased adoption of veterinary care is bound to aid expansion of the market in the U.K.
Why is Germany an Important Market for Animal Drug Compounding in Europe?
Germany holds a dominant position in Europe for animal drug compounding, with the current market share of 29%. This can be amounted to one-third of the total share in the European market.
Market growth in mainly through the CNS agents segment due to the non-availability of branded drugs with desired proportion of active ingredients for specified medication treatment for companion animals.
Will China Offer Lucrative Opportunities to Animal Drug Compounding Stakeholders?
China is the second-most lucrative market in the region of East Asia with an approx share of 35%. The market is an emerging sector in China in terms of registration and marketing, which appears to be for over 600 veterinary drugs of around 150 overseas veterinary drug enterprises.
Veterinary drugs, in terms of product, are either vaccines or medicinal feed additives. China is also a lucrative market for medical care of food-providing animals such as pigs and poultry. Thus, China can be considered as an emerging economy in terms of fastest developing veterinary drug industries involving animal drug compounding.
Why are CNS Agents So Popular for Animal Drug Compounding?
Central nervous system agents are medicines that affect the central nervous system (CNS). CNS agents account for around 36% share in the market, as far as products are concerned.
CNS is responsible for processing and controlling most bodily functions-nerves in the brain and spinal cord. CNS agents are most effective in controlling seizures in dogs and cats. The segment is expected to expand at an estimated CAGR of 8% during the forecast period.
What Impact is the COVID-19 Pandemic Having onthe Market for Animal Drug Compounding?
The COVID-19 pandemic has affected FDA adherence by companies dealing in animal drug compounding. Key players are utilizing the structure of compounding antidotes for food-producing animals, thus boosting their output capacities.
Demand during the pandemic is also affected by including new innovations in current FDA-approved drugs instead of using active pharmaceutical drugs due to rising concerns by livestock and pet owners regarding the health of their animals.
Market players are following strategies such as introduction of alternate flavoured dosage forms in order to increase patient compliance; for instance, compounding of metronidazole with sardine- or tuna-flavoured suspension to increase its palatability.
Through increasing compliance with regulatory requirements, key players ensure the safety and efficiency of compounded drugs, which thus creates market opportunity for growth.
Key players exploit the factor of low availability of generic substitutes for veterinary drugs, thus accounting for increased association with compounded drugs for the medical treatment of animals.
Some of the leading companies operating in the market are:
- Vertisis Custom Pharmacy
- Smith Caldwell Drug Store
- Sixth Avenue Medical Pharmacy
- Doughertys Pharmacy
- Triangle Compounding Pharmacy Inc
- Medisca Inc.
- Wedgewood Pharmacy
- Millers Pharmacy
- Chiron Compounding Pharmacy
- MEDS Canadian Compounding Pharmacy
- Aurora Compounding
- Pace Pharmacy
- Victoria Compounding Pharmacy
- Pratt’s Compounding Pharmacy
- People’s Choice Pharmacy
Historical Data Available for
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Key Regions Covered
Key Countries Covered
Key Segments Covered
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Key Market Segments Covered
- CNS Agents
- Anti-infective Agents
- Hormones and Substitutes
- Anti-Inflammatory Agents
- Animal Drug Compounding for Companion Animals
- Animal Drug Compounding for Dogs
- Animal Drug Compounding for Cats
- Animal Drug Compounding for Others
- Animal Drug Compounding for Livestock Animals
- Oral Animal Drug Compounding
- Injectable Animal Drug Compounding
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa