The global Animal Drug Compounding market was valued at US$ 818.9 million in 2020 and is expected to reach US$ 1286.2 million by the end of 2027, growing at a CAGR of 6.2% during 2021-2027.
Compounding is the mixing of drugs to fit the unique needs of a patient. AHI and AVMA define it as “customized manipulation of an approved drug or drugs by a veterinarian, or by a pharmacist upon the prescription of a veterinarian, to meet the needs of a particular patient.
Animal drug shortages are becoming more common and this is unfortunately predicted to worsen in the years ahead, as per official reports published by veterinarians. This shortage encourages the use of widely available compounded drugs to treat a number of animal diseases. A few critical animal drug shortages highlighted by the U.S. FDA are Flunixine Injectable, 35% Perox-Aid, and Epinephrine. To make medical therapy suitable for animal requirements, compounded drugs with the desired active ingredients are unavailable. For e.g., no FDA approved drug for treating megacolon in cats is currently available in the animal drug compounding market. The only safe and effective therapy to treat chronic cat constipation was removed from the U.S. nearly two decades ago. That is why compounding drugs are the only option for veterinarians to treat animals that need pro-kinetic drug therapy.
Global Animal Drug Compounding Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Animal Drug Compounding Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Triangle Compounding Pharmacy, Lorraine’s Pharmacy, Medisca, Diamondback Drugs, ESSENTIAL PHARMACY COMPOUNDING VET and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Find more details at: https://www.themarketreports.com/report/global-animal-drug-compounding-market-outlook
Segment by Type
- Anti-Infective Agents
- Hormones and Substitutes
- Anti-Inflammatory Agents
Segment by Application
- Veterinary Hospitals
- Veterinary Clinics
- Veterinary Diagnostic Centers
Table of Content:
1 Animal Drug Compounding Market Overview
2 Animal Drug Compounding Market Competition by Manufacturers
3 Animal Drug Compounding Retrospective Market Scenario by Region
4 Global Animal Drug Compounding Historic Market Analysis by Type
5 Global Animal Drug Compounding Historic Market Analysis by Application
6 Key Companies Profiled
7 Animal Drug Compounding Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Animal Drug Compounding Market Dynamics
10 Global Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta
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