Global Market Study on Animal Drug Compounding: Dearth of Generic Medications Boost Demand for Animal Drug Compounding


Animal Drug Compounding  Market
  • Published On : Jan-2020 |
  • Pages : 163 Pages |
  • Format : Animal Drug Compounding  Market Animal Drug Compounding  Market Animal Drug Compounding  Market Animal Drug Compounding  Market

In order to provide appropriate medical therapy, animal drug compounding containing desired active ingredients are available. Currently, no FDA-approved drug is available in the market for the treatment of megacolon (constipation) in cats. In 2000, Cisapride, the only safe and effective drug for the treatment of chronic constipation in cats was recalled from the U.S. market. Hence, for effective pro-kinetic treatment, animal drug compounding remains the only choice for veterinary doctors to prescribe. In addition, drugs containing bromides were also recalled from the U.S. market in the 1970s. However, due to the safety and extended efficacy of bromides, the drug is prescribed by animal drug compounding pharmacies for the treatment of idiopathic epilepsy in dogs.

Increasing Regulatory Inspections for Effective Animal Drug Compounding

Self-nomination for inspection and clearing FDA approval process for adherence to cGMP guidelines is expected to increase drug and brand value for animal drug compounding in the future. To achieve this, animal drug compounding pharmacies need to abide by stipulated FDA norms and also be prepared for surprise inspections. Regulatory inspections of animal drug compounding pharmacies are expected to boost good manufacturing practices, and thus, increase consumer uptake of these compounded drugs. For example, PCAB notes that, less than 3% of animal drug compounding pharmacies are accredited by PCAB, as of 2015. Furthermore, only 48 facilities in the U.S. are registered and authorized to engage in bulk API manufacturing. If over 3,500 animal drug compounding pharmacies in the U.S. obtain FDA and PCAB certification, it could largely impact customer uptake of these types of customized drugs thereby boosting the growth of the animal drug compounding market.

Availability of Animal Drug Compounding in Different Flavors Gaining Traction

Availability of flavored animal drug compounding for cats, dogs, exotic pets, and some zoo animals has increased treatment/drug adherence. For example, animal drug compounding of metronidazole with sardine or tuna flavored suspension increases its palatability, thus making it taste better and increasing its compliance. Exotic animals such as birds and sugar gliders prefer sweet flavors such as strawberry, banana, or tutti frutti. Therefore, the availability of flavored products in animal drug compounding is gaining the attention of consumers.

Analysts’ Viewpoint of Animal Drug Compounding Market

An extensive analysis of the animal drug compounding market has brought our analysts to a conclusion that, the global animal drug compounding market is growing at a significant pace. Currently, CNS agents is the target segment for major players, hence, this segment dominates the global animal drug compounding market by product type in tem of revenue. The animal drug compounding markets in North America and Europe collectively hold more than 85% of revenue share of the global animal drug compounding market, due to the high rate of pet adoption in these region. Developing countries such as Brazil, South Africa, and India are expected to offer lucrative opportunities for the animal drug compounding market, owing to increasing number of compounding pharmacies in the regions.

Animal Drug Compounding Market - Scope of the Report

The latest publication by Persistence Market Research (PMR) on the global animal drug compounding market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about the corresponding sections affecting the global animal drug compounding market. The study offers detailed insights on key market dynamics, which includes the drivers, restraints, trends, opportunities of animal drug compounding. The principal aim of the market study is to present exclusive information about how the market will perform in the forecast period of 2019-2029.

Important indicators for the successful growth of the animal drug compounding market are presented in this comprehensive report, which include supply chain analysis, value chain analysis, Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR) are described in an exhaustive way in PMR's research. This research study can support readers to know the demand for animal drug compounding quantitative development opportunities during the study period.

The research is beneficial for shareholders in animal drug compounding, including animal drug compounding investors, manufacturers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the animal drug compounding market. The insights and wisdom presented in this PMR’s study can be leveraged by shareholders in the animal drug compounding market, industry experts, investors, researchers, reporters, as well as animal drug compounding business enthusiasts.

Market statistics as well as information linked to macro as well as microeconomic variables affecting business scenario in the animal drug compounding market are also included in the current study. Depending on potential developments in the animal drug compounding market, substantive insights are also encountered in this report. Additionally, by virtue of the data submitted in this animal drug compounding report, minor companies and new entrants in the animal drug compounding industry can aid in making suitable company choices to achieve traction in the animal drug compounding market.

Key Segments of Animal Drug Compounding Market

PMR’s study on the animal drug compounding market offers information divided into four important segments-product type, formulation, animal type, and region. This report offers comprehensive data and information about the important market dynamics, and growth parameters associated with these categories.

Product Type

Formulation

Animal Type

Region

  • CNS Agents
  • Anti-infective Agents
  • Hormones and Substitutes
  • Anti-inflammatory Agents
  • Others
  • Oral
  • Injectable
  • Others
  • Companion Animals
    • Dogs
    • Cats
    • Others
  • Livestock
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

Key Questions Answered in PMR’s Animal Drug Compounding Market Report

  • Which regions will continue to remain the most profitable regional markets for animal drug compounding market players?
  • Which factors will induce a change in the demand for animal drug compounding during the assessment period?
  • How will changing trends impact the animal drug compounding market?
  • How can market players capture the low-hanging opportunities in the animal drug compounding in developed regions?
  • What are the winning strategies of stakeholders in the animal drug compounding market to upscale their position in this landscape?
  • What are the restraints that investors need to be aware of and might tackle while investing in the animal drug compounding market?
  • What are the developmental trends in the animal drug compounding sector that will impact the market?
  • How can businesses in the animal drug compounding market avail growth opportunities in developed and emerging sectors?

Animal Drug Compounding Market: Research Methodology

In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the animal drug compounding market, and reach conclusions on future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of conclusions.

Secondary resources referred to analysts during the production of the animal drug compounding market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the animal drug compounding market, and makes PMR’s projection on the growth prospects of the animal drug compounding market more accurate and reliable.

Companies covered in Animal Drug Compounding Market Report

  • 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
  • Chiron Compounding Pharmacy
  • MEDS Canadian Compounding Pharmacy
  • Aurora Compounding
  • Pace Pharmacy
  • Victoria Compounding Pharmacy
  • Pratt’s Compounding Pharmacy
  • People’s Choice Pharmacy

Animal Drug Compounding Market

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