What Has Been the Growth Trajectory for the Animal Drug Compounding Market in Recent Years?
The animal drug compounding market has seen considerable growth due to a variety of factors.
• In recent times, the market size for animal drug compounding has seen impressive growth trends. It is predicted to expand from $1.67 billion in 2024 to $1.79 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. Factors such as changes in regulatory structures, veterinary practices, market understanding, limited commercial avenues, and collaborations in the veterinary field have contributed to the growth observed during the historic period.
What Can Be Expected from the Animal Drug Compounding Market Size In The Coming Years?
The Animal Drug Compounding market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of animal drug compounding is projected to experience substantial expansion in the coming years. Its value is estimated to reach $2.38 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.4%.
Factors such as regulatory evolution, the rise in pet ownership, specialized veterinary treatment, expansion of global veterinary services, and advancement in veterinary medicine contribute to the market's growth during the forecast period. Key trends to keep an eye on include a heightened focus on flavoring and palatability, a rising demand for specialized dosage forms, increased collaborations between veterinarians and compounding pharmacists, an emphasis on pain management solutions, and an expanding role in veterinary hospice care.
What Are the Critical Driver Fuelling The Animal Drug Compounding Market's Growth?
The animal drug compounding market is predicted to grow owing to the increasing rate of animal adoption. This action of adoption is characterized by getting animals from rescue groups instead of procuring them from pet shops or breeders. The possibility of adopted animals having existing health issues or requiring non-standard medication creates a need for personalized animal medicines. The demand for animal drug compounding grows as more adoptive pet owners get custom-made medications for their fur friends. For example, Novuna, a UK-based financial services company, reported in October 2023 that around 10,070 dogs were adopted, marking an 11.06% increase as compared to the previous year. Thus, the upswing in animal adoption is boosting the animal drug compounding market's expansion.
How Is The Animal Drug Compounding Market segmented?
The animal drug compounding market covered in this report is segmented –
1) By Animal Type: Companion Animals, Livestock Animals
2) By Product: Anti-Infective Agents, Anti-inflammatory Agents, Hormones And Substitutes, CNS Agents, Other Products
3) By Route Of Administration: Oral, Injectable, Topical, Other Routes Of Administration
4) By Application: Veterinary Hospitals, Veterinary Clinics, Veterinary Diagnostic Centers
Subsegments:
1) By Companion Animals: Dogs, Cats, Horses, Other Small Mammals
2) By Livestock Animals: Cattle, Swine, Poultry, Sheep, Goats
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What New Trends Are Influencing The Animal Drug Compounding Market?
Key players in the animal drug compounding market are pioneering new products, such as feline-centric formulations, to enhance the safety and potency of medicines specifically tailored for cats. These feline-centric formulations are specially designed to be safe, effective, and attractive for cats. For example, Wedgewood, an American wildlife pharmaceutical company, launched a compounded molnupiravir in September 2024. This antiviral medicine created particularly for the treatment of Feline Infectious Peritonitis (FIP) in cats, includes feline-centric formulations of molnupiravir, available in a variety of dosages to address multiple forms of FIP, such as effusive, non-effusive, neurological, and ocular types. This involves creating different dosages and tastes, like flavored oral oil suspensions and capsules, to cater to the specific needs of each feline patient.
Who Are the Key Players In The Animal Drug Compounding Market?
Major companies operating in the animal drug compounding market include:
• Wedgewood Pharmacy LLC
• Triangle Compounding Pharmacy Inc.
• Davis Islands Pharmacy & Compounding Lab
• Custom Med Compounding Pharmacy
• Central Compounding Center South LLC
• Wellness Compounding Pharmacy of Cary LLC
• Miller's Pharmacy
• Caringbah Compounding Pharmacy Pty. Ltd.
• Smith Drug and Compounding Inc.
• Specialist Compounding Pharmacy Pte Ltd.
• Tache Pharmacy & Medical Supplies
• Hoye's Pharmacy
• Vertisis Custom Pharmacy LLC
• Smith-Caldwell Drug Store Inc.
• Sixth Avenue Medical Pharmacy
• Pharmaca Integrative Pharmacy Inc.
• Akina Animal Health
• Letco Medical LLC
• The Pet Apothecary LLC
• Vetsource Inc.
• Roadrunner Pharmacy
• Medisca Inc.
• BCP Veterinary Pharmacy
• VetRxDirect LLC
• Diamondback Drugs
• Vetcentric Pty. Ltd.
• Pet Health Pharmacy
• PetMed Express Inc.
• PetRx2Go
• South Wellness Pharmacy
What Is The Most Dominant Region In The Animal Drug Compounding Market?
North America was the largest region in the animal drug compounding market in 2024. The regions covered in the animal drug compounding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
