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Animal Drug Compounding Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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    Report

  • 250 Pages
  • January 2024
  • Region: Global
  • Fairfield Market Research
  • ID: 5924983
Description Jump to:
The global animal drug compounding market, valued at approximately US$ 1.4 billion in 2024, is poised to experience substantial growth, reaching a projected valuation of US$ 2.2 billion by the end of 2031, according to the latest industry report.

Alternate Flavored Dosage Forms Gaining Popularity

One of the key drivers propelling the growth of the animal drug compounding market is the increasing popularity of alternate flavored dosage forms. Unlike conventional veterinary medications, compounded animal pharmaceuticals offer a variety of dosing strengths and alternative dosage formats, making it easier for pet owners to administer medication to their animals. Compounded medications are often designed in appealing flavors such as tuna for cats, treats, biscuits, or meat-flavored forms for dogs, and concentrated liquids with fruit flavors for birds. This innovation in dosage forms significantly enhances patient compliance and opens up avenues for future revenue generation.

Lack of Interdisciplinary Training and Contaminated Compounded Drugs Pose Challenges

However, the growth of the animal drug compounding market faces challenges. The lack of qualified and experienced practitioners in the field of animal health is a major obstacle. Some veterinarians, without specific expertise in pharmaceutical compounding, offer compounding services, which can pose risks to animal health due to the potential for inaccurate medications.

Additionally, there is a concern about the quality and safety of compounded veterinary pharmaceuticals. Adulterated compounded drugs have been reported, leading to harmful effects on animals. The need for strict regulatory oversight to ensure the safety and effectiveness of compounded drugs remains crucial to the industry's growth.

Country-wise Insights

U.S. Market Booming

The United States is witnessing a booming market for animal drug compounding, driven by expanding manufacturing and pharmaceutical sectors and an increase in pet ownership. The country's strong regulatory environment for the veterinary industry fosters innovation and long-term growth prospects.

Germany's Lucrative Market

Germany leads the European market and is expected to continue thriving, thanks to the growing demand for various animal drug compounding products and government initiatives to promote animal welfare.

Australia's Prominence

Australia is emerging as a prominent market for animal drug compounding due to the humanization of pets, rising adoption rates, and a robust regulatory framework led by the Australian Pesticides and Veterinary Medicines Authority (APVMA).

Competitive Analysis

Leading companies in the animal drug compounding sector are actively pursuing strategies such as collaboration and acquisition agreements to expand their market presence and increase revenue. These companies are also implementing effective marketing tactics to boost consumer demand for their products.

Key Companies’ Profile

  • 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

Key Segments Covered in Animal Drug Compounding Industry Research

Product:

  • CNS Agents
  • Anti-Infective Agents
  • Hormones and Substitutes
  • Anti-inflammatory Agents
  • Others

Animal:

  • Companion Animal
  • Cats
  • Dogs
  • Others
  • Livestock Animals

Formulation:

  • Oral
  • Injectable
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa


This product will be delivered within 1-3 business days.

Table of Contents

1. Executive Summary
1.1. Global Animal Drug Compounding Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Animal Drug Compounding Market Outlook, 2018 - 2031
3.1. Global Animal Drug Compounding Market Outlook, by Product, Value (US$ Bn), 2018 - 2031
3.1.1. Key Highlights
3.1.1.1. CNS Agents
3.1.1.2. Anti-Infective Agents
3.1.1.3. Hormones and Substitutes
3.1.1.4. Anti-inflammatory Agents
3.1.1.5. Others
3.2. Global Animal Drug Compounding Market Outlook, by Animal, Value (US$ Bn), 2018 - 2031
3.2.1. Key Highlights
3.2.1.1. Companion Animal
3.2.1.1.1. Cats
3.2.1.1.2. Dogs
3.2.1.1.3. Others
3.2.1.2. Livestock Animals
3.3. Global Animal Drug Compounding Market Outlook, by Formulation, Value (US$ Bn), 2018 - 2031
3.3.1. Key Highlights
3.3.1.1. Oral
3.3.1.2. Injectable
3.3.1.3. Others
3.4. Global Animal Drug Compounding Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
3.4.1. Key Highlights
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa
4. North America Animal Drug Compounding Market Outlook, 2018 - 2031
4.1. North America Animal Drug Compounding Market Outlook, by Product, Value (US$ Bn), 2018 - 2031
4.1.1. Key Highlights
4.1.1.1. CNS Agents
4.1.1.2. Anti-Infective Agents
4.1.1.3. Hormones and Substitutes
4.1.1.4. Anti-inflammatory Agents
4.1.1.5. Others
4.2. North America Animal Drug Compounding Market Outlook, by Animal, Value (US$ Bn), 2018 - 2031
4.2.1. Key Highlights
4.2.1.1. Companion Animal
4.2.1.1.1. Cats
4.2.1.1.2. Dogs
4.2.1.1.3. Others
4.2.1.2. Livestock Animals
4.3. North America Animal Drug Compounding Market Outlook, by Formulation, Value (US$ Bn), 2018 - 2031
4.3.1. Key Highlights
4.3.1.1. CNS Agents
4.3.1.2. Anti-Infective Agents
4.3.1.3. Hormones and Substitutes
4.3.1.4. Anti-inflammatory Agents
4.3.1.5. Others
4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Animal Drug Compounding Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
4.4.1. Key Highlights
4.4.1.1. U.S. Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
4.4.1.2. U.S. Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
4.4.1.3. U.S. Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
4.4.1.4. Canada Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
4.4.1.5. Canada Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
4.4.1.6. Canada Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
4.4.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Animal Drug Compounding Market Outlook, 2018 - 2031
5.1. Europe Animal Drug Compounding Market Outlook, by Product, Value (US$ Bn), 2018 - 2031
5.1.1. Key Highlights
5.1.1.1. CNS Agents
5.1.1.2. Anti-Infective Agents
5.1.1.3. Hormones and Substitutes
5.1.1.4. Anti-inflammatory Agents
5.1.1.5. Others
5.2. Europe Animal Drug Compounding Market Outlook, by Animal, Value (US$ Bn), 2018 - 2031
5.2.1. Key Highlights
5.2.1.1. Companion Animal
5.2.1.1.1. Cats
5.2.1.1.2. Dogs
5.2.1.1.3. Others
5.2.1.2. Livestock Animals
5.3. Europe Animal Drug Compounding Market Outlook, by Formulation, Value (US$ Bn), 2018 - 2031
5.3.1. Key Highlights
5.3.1.1. CNS Agents
5.3.1.2. Anti-Infective Agents
5.3.1.3. Hormones and Substitutes
5.3.1.4. Anti-inflammatory Agents
5.3.1.5. Others
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Animal Drug Compounding Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
5.4.1. Key Highlights
5.4.1.1. Germany Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
5.4.1.2. Germany Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
5.4.1.3. Germany Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
5.4.1.4. U.K. Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
5.4.1.5. U.K. Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
5.4.1.6. U.K. Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
5.4.1.7. France Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
5.4.1.8. France Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
5.4.1.9. France Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
5.4.1.10. Italy Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
5.4.1.11. Italy Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
5.4.1.12. Italy Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
5.4.1.13. Turkey Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
5.4.1.14. Turkey Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
5.4.1.15. Turkey Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
5.4.1.16. Russia Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
5.4.1.17. Russia Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
5.4.1.18. Russia Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
5.4.1.19. Rest of Europe Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
5.4.1.20. Rest of Europe Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
5.4.1.21. Rest of Europe Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Animal Drug Compounding Market Outlook, 2018 - 2031
6.1. Asia Pacific Animal Drug Compounding Market Outlook, by Product, Value (US$ Bn), 2018 - 2031
6.1.1. Key Highlights
6.1.1.1. CNS Agents
6.1.1.2. Anti-Infective Agents
6.1.1.3. Hormones and Substitutes
6.1.1.4. Anti-inflammatory Agents
6.1.1.5. Others
6.2. Asia Pacific Animal Drug Compounding Market Outlook, by Animal, Value (US$ Bn), 2018 - 2031
6.2.1. Key Highlights
6.2.1.1. Companion Animal
6.2.1.1.1. Cats
6.2.1.1.2. Dogs
6.2.1.1.3. Others
6.2.1.2. Livestock Animals
6.3. Asia Pacific Animal Drug Compounding Market Outlook, by Formulation, Value (US$ Bn), 2018 - 2031
6.3.1. Key Highlights
6.3.1.1. CNS Agents
6.3.1.2. Anti-Infective Agents
6.3.1.3. Hormones and Substitutes
6.3.1.4. Anti-inflammatory Agents
6.3.1.5. Others
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Animal Drug Compounding Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
6.4.1. Key Highlights
6.4.1.1. China Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
6.4.1.2. China Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
6.4.1.3. China Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
6.4.1.4. Japan Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
6.4.1.5. Japan Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
6.4.1.6. Japan Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
6.4.1.7. South Korea Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
6.4.1.8. South Korea Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
6.4.1.9. South Korea Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
6.4.1.10. India Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
6.4.1.11. India Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
6.4.1.12. India Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
6.4.1.13. Southeast Asia Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
6.4.1.14. Southeast Asia Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
6.4.1.15. Southeast Asia Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
6.4.1.16. Rest of Asia Pacific Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
6.4.1.17. Rest of Asia Pacific Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
6.4.1.18. Rest of Asia Pacific Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Animal Drug Compounding Market Outlook, 2018 - 2031
7.1. Latin America Animal Drug Compounding Market Outlook, by Product, Value (US$ Bn), 2018 - 2031
7.1.1. Key Highlights
7.1.1.1. CNS Agents
7.1.1.2. Anti-Infective Agents
7.1.1.3. Hormones and Substitutes
7.1.1.4. Anti-inflammatory Agents
7.1.1.5. Others
7.2. Latin America Animal Drug Compounding Market Outlook, by Animal, Value (US$ Bn), 2018 - 2031
7.2.1.1. Companion Animal
7.2.1.1.1. Cats
7.2.1.1.2. Dogs
7.2.1.1.3. Others
7.2.1.2. Livestock Animals
7.3. Latin America Animal Drug Compounding Market Outlook, by Formulation, Value (US$ Bn), 2018 - 2031
7.3.1. Key Highlights
7.3.1.1. CNS Agents
7.3.1.2. Anti-Infective Agents
7.3.1.3. Hormones and Substitutes
7.3.1.4. Anti-inflammatory Agents
7.3.1.5. Others
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Animal Drug Compounding Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
7.4.1. Key Highlights
7.4.1.1. Brazil Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
7.4.1.2. Brazil Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
7.4.1.3. Brazil Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
7.4.1.4. Mexico Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
7.4.1.5. Mexico Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
7.4.1.6. Mexico Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
7.4.1.7. Argentina Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
7.4.1.8. Argentina Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
7.4.1.9. Argentina Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
7.4.1.10. Rest of Latin America Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
7.4.1.11. Rest of Latin America Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
7.4.1.12. Rest of Latin America Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Animal Drug Compounding Market Outlook, 2018 - 2031
8.1. Middle East & Africa Animal Drug Compounding Market Outlook, by Product, Value (US$ Bn), 2018 - 2031
8.1.1. Key Highlights
8.1.1.1. CNS Agents
8.1.1.2. Anti-Infective Agents
8.1.1.3. Hormones and Substitutes
8.1.1.4. Anti-inflammatory Agents
8.1.1.5. Others
8.2. Middle East & Africa Animal Drug Compounding Market Outlook, by Animal, Value (US$ Bn), 2018 - 2031
8.2.1. Key Highlights
8.2.1.1. Companion Animal
8.2.1.1.1. Cats
8.2.1.1.2. Dogs
8.2.1.1.3. Others
8.2.1.2. Livestock Animals
8.3. Middle East & Africa Animal Drug Compounding Market Outlook, by Formulation, Value (US$ Bn), 2018 - 2031
8.3.1. Key Highlights
8.3.1.1. CNS Agents
8.3.1.2. Anti-Infective Agents
8.3.1.3. Hormones and Substitutes
8.3.1.4. Anti-inflammatory Agents
8.3.1.5. Others
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Animal Drug Compounding Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
8.4.1. Key Highlights
8.4.1.1. GCC Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
8.4.1.2. GCC Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
8.4.1.3. GCC Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
8.4.1.4. South Africa Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
8.4.1.5. South Africa Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
8.4.1.6. South Africa Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
8.4.1.7. Egypt Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
8.4.1.8. Egypt Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
8.4.1.9. Egypt Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
8.4.1.10. Nigeria Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
8.4.1.11. Nigeria Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
8.4.1.12. Nigeria Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
8.4.1.13. Rest of Middle East & Africa Animal Drug Compounding Market by Product, Value (US$ Bn), 2018 - 2031
8.4.1.14. Rest of Middle East & Africa Animal Drug Compounding Market by Animal, Value (US$ Bn), 2018 - 2031
8.4.1.15. Rest of Middle East & Africa Animal Drug Compounding Market by Formulation, Value (US$ Bn), 2018 - 2031
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
9.1. By Distribution Channel vs by Animal Heat map
9.2. Manufacturer vs by Animal Heatmap
9.3. Company Market Share Analysis, 2023
9.4. Competitive Dashboard
9.5. Company Profiles
9.5.1. Hoye's Pharmacy
9.5.1.1. Company Overview
9.5.1.2. Product Portfolio
9.5.1.3. Financial Overview
9.5.1.4. Business Strategies and Development
9.5.2. Vertisis Custom Pharmacy
9.5.2.1. Company Overview
9.5.2.2. Product Portfolio
9.5.2.3. Financial Overview
9.5.2.4. Business Strategies and Development
9.5.3. Smith Caldwell Drug Store
9.5.3.1. Company Overview
9.5.3.2. Product Portfolio
9.5.3.3. Financial Overview
9.5.3.4. Business Strategies and Development
9.5.4. Sixth Avenue Medical Pharmacy
9.5.4.1. Company Overview
9.5.4.2. Product Portfolio
9.5.4.3. Financial Overview
9.5.4.4. Business Strategies and Development
9.5.5. Dougherty's Pharmacy
9.5.5.1. Company Overview
9.5.5.2. Product Portfolio
9.5.5.3. Financial Overview
9.5.5.4. Business Strategies and Development
9.5.6. Triangle Compounding Pharmacy Inc.
9.5.6.1. Company Overview
9.5.6.2. Product Portfolio
9.5.6.3. Financial Overview
9.5.6.4. Business Strategies and Development
9.5.7. Medisca Inc.
9.5.7.1. Company Overview
9.5.7.2. Product Portfolio
9.5.7.3. Financial Overview
9.5.7.4. Business Strategies and Development
9.5.8. Wedgewood Pharmacy
9.5.8.1. Company Overview
9.5.8.2. Product Portfolio
9.5.8.3. Financial Overview
9.5.8.4. Business Strategies and Development
9.5.9. Millers Pharmacy
9.5.9.1. Company Overview
9.5.9.2. Product Portfolio
9.5.9.3. Financial Overview
9.5.9.4. Business Strategies and Development
9.5.10. Chiron Compounding Pharmacy
9.5.10.1. Company Overview
9.5.10.2. Product Portfolio
9.5.10.3. Financial Overview
9.5.10.4. Business Strategies and Development
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

Companies Mentioned

  • Medisca Inc.
  • 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

Methodology

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