Global Animal Drug Compounding Market Size Study, by Product, by Animal Type, by Dosage Form, by Route of Administration and Regional Forecasts 2022-2032

Description

The Global Animal Drug Compounding Market is valued at approximately USD 1.27 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.4% over the forecast period 2024-2032. Rapid advancements in pharmaceutical production techniques and the growth of the biotechnology industry have significantly benefited stakeholders in animal medicine compounding. The increasing awareness of animal health among pet owners and the unavailability of certain officially approved drugs have fueled the demand for veterinary medicine compounding. This trend is further supported by the rise in pet ownership and the subsequent approval of compounded medication practices among animal owners. Leading market players are increasingly focusing on strategic partnerships and collaborations to expand their global presence.

Animal drug compounding involves the customization of medications by combining, blending, or modifying ingredients to meet the specific needs of individual animals. These drugs, typically prepared by pharmacists or veterinarians, cater to various veterinary applications. Compounded animal drug companies are striving to ensure a steady supply of chemical compounds and materials, essential for supporting veterinary compounding practices. For instance, Letco Medical offers a formula database that aids in selecting the optimal combination for any animal, collaborating closely with API suppliers, base providers, and flavor formulators to support the production of animal drugs.

The rise in pet ownership has led to the growth of veterinary pharmacists who compound medications, avoiding common allergens found in animals and tailoring drugs to specific needs. Governments are supporting this trend by funding programs, fellowships, and grants to develop the necessary skills for medication compounding. In Europe, the EAHP is encouraging health authorities to facilitate the transfer of drug store preparations among hospitals and invest in compounding services to address extraordinary situations like essential medicine shortages.

The demand for companion animals has surged globally, driving the need for compounded medications tailored to their unique requirements. Compounded medications offer personalized treatment options for various animal species, making them more palatable and effective. This service is particularly beneficial for pets, as it allows for the addition of flavors and colors to improve medication acceptance. Farmers and ranchers also rely on compounded medicines to ensure the health of their livestock, protect public health, and safeguard the food supply.

The key regions considered in the study include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. North America accounted for dominating position of the global market in 2023, supported by a well-established healthcare infrastructure and the rapid adoption of new therapeutic strategies. The U.S., in particular, is anticipated to maintain a major market share due to technological advancements in compounding machines. In Asia Pacific, the market is expected to grow fastest rate, driven by the increasing acceptance of compounded veterinary planning and a surge in pet ownership.

Key players in the global animal drug compounding market are

Wedgewood Pharmacy

Triangle Compounding Pharmacy

Davis Islands Pharmacy

Custom Med Compounding Pharmacy

Central Compounding Center South

Wellness Pharmacy of Cary

Caringbah Compounding Pharmacy

Millers Pharmacy

Smith's Pharmacy

Specialist Compounding Pharmacy Pte Ltd

Tache Pharmacy

Boehringer Ingelheim

Zoetis Inc.

Merck Animal Health

Bayer Animal Health

By Region:

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Animal Drug Compounding Market Executive Summary

1.1. Global Animal Drug Compounding Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Product
- 1.3.2. By Animal Type
- 1.3.3. By Dosage Form
- 1.3.4. By Route of Administration
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Animal Drug Compounding Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Animal Drug Compounding Market Dynamics

3.1. Market Drivers
- 3.1.1. Advancements in Pharmaceutical & Biotechnology Industry
- 3.1.2. Rising Awareness of Animal Health
- 3.1.3. Increased Pet Ownership
3.2. Market Challenges
- 3.2.1. Regulatory Constraints
- 3.2.2. High Costs of Compounded Medications
3.3. Market Opportunities
- 3.3.1. Expansion into Emerging Markets
- 3.3.2. Technological Innovations in Drug Compounding

Chapter 4. Global Animal Drug Compounding Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Animal Drug Compounding Market Size & Forecasts by Product 2022-2032

5.1. Segment Dashboard
5.2. Global Animal Drug Compounding Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Anti-infectives
- 5.2.2. Anti-inflammatory
- 5.2.3. CNS Agents
- 5.2.4. GI Drugs
- 5.2.5. Others

Chapter 6. Global Animal Drug Compounding Market Size & Forecasts by Animal Type 2022-2032

6.1. Segment Dashboard
6.2. Global Animal Drug Compounding Market: Animal Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Companion Animal
  - 6.2.1.1. Dogs
  - 6.2.1.2. Cats
  - 6.2.1.3. Others
- 6.2.2. Livestock

Chapter 7. Global Animal Drug Compounding Market Size & Forecasts by Dosage Form 2022-2032

7.1. Segment Dashboard
7.2. Global Animal Drug Compounding Market: Dosage Form Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Capsules
- 7.2.2. Solutions
- 7.2.3. Powders
- 7.2.4. Suspension
- 7.2.5. Others

Chapter 8. Global Animal Drug Compounding Market Size & Forecasts by Route of Administration 2022-2032

8.1. Segment Dashboard
8.2. Global Animal Drug Compounding Market: Route of Administration Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Oral
- 8.2.2. Injectable
- 8.2.3. Topical
- 8.2.4. Rectal
- 8.2.5. Ocular

Chapter 9. Global Animal Drug Compounding Market Size & Forecasts by Region 2022-2032

9.1. North America Animal Drug Compounding Market
- 9.1.1. U.S. Animal Drug Compounding Market
  - 9.1.1.1. Product breakdown size & forecasts, 2022-2032
  - 9.1.1.2. Animal Type breakdown size & forecasts, 2022-2032
  - 9.1.1.3. Dosage Form breakdown size & forecasts, 2022-2032
  - 9.1.1.4. Route of Administration breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Animal Drug Compounding Market
  - 9.1.2.1. Product breakdown size & forecasts, 2022-2032
  - 9.1.2.2. Animal Type breakdown size & forecasts, 2022-2032
  - 9.1.2.3. Dosage Form breakdown size & forecasts, 2022-2032
  - 9.1.2.4. Route of Administration breakdown size & forecasts, 2022-2032
9.2. Europe Animal Drug Compounding Market
- 9.2.1. U.K. Animal Drug Compounding Market
- 9.2.2. Germany Animal Drug Compounding Market
- 9.2.3. France Animal Drug Compounding Market
- 9.2.4. Italy Animal Drug Compounding Market
- 9.2.5. Spain Animal Drug Compounding Market
- 9.2.6. Rest of Europe Animal Drug Compounding Market
9.3. Asia-Pacific Animal Drug Compounding Market
- 9.3.1. China Animal Drug Compounding Market
- 9.3.2. India Animal Drug Compounding Market
- 9.3.3. Japan Animal Drug Compounding Market
- 9.3.4. Australia Animal Drug Compounding Market
- 9.3.5. Rest of Asia Pacific Animal Drug Compounding Market
9.4. Latin America Animal Drug Compounding Market
- 9.4.1. Brazil Animal Drug Compounding Market
- 9.4.2. Mexico Animal Drug Compounding Market
- 9.4.3. Rest of Latin America Animal Drug Compounding Market
9.5. Middle East & Africa Animal Drug Compounding Market
- 9.5.1. Saudi Arabia Countries Animal Drug Compounding Market
- 9.5.2. South Africa Animal Drug Compounding Market
- 9.5.3. Rest of Middle East & Africa Animal Drug Compounding Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. Wedgewood Pharmacy
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. Triangle Compounding Pharmacy
- 10.3.3. Davis Islands Pharmacy
- 10.3.4. Custom Med Compounding Pharmacy
- 10.3.5. Central Compounding Center South
- 10.3.6. Wellness Pharmacy of Cary
- 10.3.7. Caringbah Compounding Pharmacy
- 10.3.8. Millers Pharmacy
- 10.3.9. Smith's Pharmacy
- 10.3.10. Specialist Compounding Pharmacy Pte Ltd
- 10.3.11. Tache Pharmacy
- 10.3.12. Boehringer Ingelheim
- 10.3.13. Zoetis Inc.
- 10.3.14. Merck Animal Health
- 10.3.15. Bayer Animal Health

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes