Report Description
The animal compounding market is growing steadily due to the increased demand for animal anti-infectives and animal anti-inflammatory medications like ketoconazole, tramadol, and metronidazole, just to name only a few. As essential industry players are developing a range of compounds with different administration methods, such as oral injection, topical, and many more, the business is expanding in terms of value and volume. A recent study on the compounding of animal drugs by MWR provides an in-depth review of the industry’s global supply and demand patterns, the primary driving and restricting factors, and the latest designs between 2021 and 2031.
The report states that, as stated in the study, the United States, Germany, China, India, Japan, and a few other countries will become lucrative markets. At the same time, 20 different countries will also have great potential over the forecasted time.
Historical Vs. Future Outlook on Animal Drug Compounding
With advancements in the pharmaceutical and manufacturing sectors increased in the last several years, animal drug compounding industry stakeholders have huge benefits. Demand for different compounds for animal drugs like CNS agents such as G.I. drugs, anti-infectives, anti-inflammatory medications in veterinary medicine, and many more have increased sales from 2016 through 2020.
Since the demand for compounding animal drug products is increasing and significant companies are focused on offering a more excellent selection of compounds with different administration methods like oral injectable, topical and ocular, to mention some. Additionally, the increase in demand for companion and livestock animals is expected to support industry growth until 2031.
How are Advancements in Pharmaceutical Sector Spearheading Demand for Animal Drug Compounding
With advancements in the pharmaceutical industry and animal compounding products, animal drug manufacturers are experiencing more significant opportunities for growth. According to a research report released by SelectUSA on September 6, 2019, the pharmaceuticals sector is the top industry to watch in Japan.
According to the report, Japan’s market for non-prescription and prescription drugs in 2018 was US$87 billion, while over 90% of that market comprises prescription pharmaceuticals.
As per the data released in a report by Select USA published on July 30, 2019, it is believed that the Chinese manufacturing of pharmaceuticals is highly prospective and was estimated at US$134 billion as of the year 2018 and increased to US$154 billion by 2020. This, in turn, indirectly speak to the new opportunities for manufacturers of compounded medications for pets across the world.
What are the Key Challenges Faced by Veterinary Compounded Drug Manufacturers?
There are some negatives to the compounding of animal drugs and methods, for instance-
- The entire process is lengthy and complicated.
- The development of animal compounding compounds requires costly laboratory equipment and materials
- Testing and the transition of compounding drugs for animals typically require additional expenses
- Testing and handling by experts are necessary, or else it could cause adverse impacts on animals
But the major manufacturers and players are putting forth the very best effort to overcome these limitations and be successful in this area.
Country-Wise Analysis
What Augmenting Demand for Animal Drug Compounding in the United States
The United States has been leading in the North Americas market for animal compounding drugs since the previous decade and is expected to keep its lead through the forecast time. The growing manufacturing and pharmaceutical industries and a rise in demand for animal medications for pet owners have boosted sales in the United States.
According to a report entitled The Pet Industry’s Market Size and Trends, as well as Ownership Statistics released in the American Pet Products Organization, 67 percent of U.S. households have pets. In 2021, US dollars 103.6 billion were spent on pet care across the U.S. According to the report, by 2021, it’s estimated that close to US$1 109.6 billion would be spent on pet care throughout the U.S. These are lucrative growth opportunities for the U.S. for animal drug compounding companies.
What Catering to Demand Growth for Animal Drug Compounding Products in Germany
Germany is the most favored nation for compounding animal drugs and is expected to be the dominant country throughout the forecast. Demand for different compounds for animal drugs like anti-infectives, anti-inflammatory drugs, and more are constantly increasing, and the pharmaceutical industry caters to the growing demand in Germany.
According to a study titled “The Pharmaceutical Industry in Germany, released by Germany Trade & Investment (GTAI), the German pharmaceutical sector produced a value of 36.1 billion last year. This makes it the top pharmaceutical manufacturing facility within the European Union (E.U.). The report shows that the German pharmaceutical industry has the highest level of research and development across all significant German sectors, with approximately 12.5 percent of the revenue invested in R&D in 2018. This will open up new opportunities for animal compounding drug manufacturers in Germany.
What Makes China a Hotspot for Animal Drug Compounding
China is the leader in the Asia Pacific regarding the compounding of animal drugs and is predicted to increase further by 2031. An increase in demand for different animal compounding drugs with various routes of administration, beginning with oral to ocular, as well as a growing pharmaceutical industry, is driving the growth of markets in China.
In the report entitled China- Pharmaceuticals, published on July 30, 2019, the pharmaceutical industry is the top industry to watch in China. The report states that China’s pharmaceutical market was close to US140 billion in 2019 and is projected to exceed US150 billion by 2031. Undoubtedly, this will provide considerable opportunities for animals and compounding companies shortly.
Why are Stakeholders Eyeing India?
India is a second highly profitable market for the compounding of animal drugs and is predicted to continue to expand shortly. Increased demand for livestock and companion animal products and the pharmaceutical industry advancements are driving India’s growth.
According to a report released in Invest India, India is an important and rapidly growing pharmaceutical market. Total exports of pharmaceuticals are US$1 19.3 billion. According to this report, India’s industry of drugs is projected to grow to US$165 billion as of 2024 and US 120 billion in 2030. These numbers indicate the considerable possibility of India for animal compounding industry players.
Category-Wise Insights
Which Product is Bolstering Growth of Animal Drug Compounding?
Today, anti-infections lead and are expected to maintain their position until 2031. There are many benefits of these items, including the are
- Highly effective in critical care
- helpful in preventing various diseases
- There are wide varieties, including ketoconazole, metronidazole, and more.
- can be easily administered
This market is in high demand worldwide.
Other vital segments that contribute to the market’s growth include the massive need for CNS agents and anti-inflammatory, G.I. medicines, and others.
Which Route of Administration is Most Preferred for Animal Drug Compounding?
At present oral administration has become the predominant segment due to several aspects, such as
- Secure
- Reliable
- Less adverse consequences
- no additional cost
- hassle-free
Other vital segments that drive sales in this area are injectable topical, rectal, and Ocular.
Competitive Landscape
The world animal drug compounding market provides a highly competitive market for essential players. Major market players are developing various products to stay ahead of the fierce competition.
For example,
- Tache Pharmacy recently launched its new line of compounding animal drugs, including unique flavors, dosage adjustment, and an alternative drug delivery medium.
- Smith’s Pharmacy launched its new line of compounding solutions to treat wounds postpartum, dermatology, and health, a few years ago.
Report Scope
Attribute | Details |
Forecast Period | 2020-2030 |
Historical Data Available for | 2017-2021 |
Market Analysis | USD Million for Value |
Key Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Market Segmentation by Category
- Product
- Anti-Infectives
- Metronidazole
- Ketoconazole
- Other Antibiotics
- Anti-Inflammatory
- Prednisolone
- Tramadol
- Other Anti-Inflammatory
- CNS Agents
- Potassium Bromide
- Gabapentin
- Other CNS Agents
- G.I. Drugs
- Apomorphine
- Ursodiol
- Cisapride
- Other G.I. Drugs
- Others
- Methimazole
- Other Drugs
- Route of Administration
- Oral Animal Drug Compounding
- Injectable Animal Drug Compounding
- Topical Animal Drug Compounding
- Rectal Animal Drug Compounding
- Ocular Animal Drug Compounding
- Animal Type
- Companion Animal
- Animal Drug Compounding for Dogs
- Animal Drug Compounding for Cats
- Animal Drug Compounding for Horses
- Animal Drug Compounding for Birds
- Others
- Livestock Animal
- Dosage Form
- Animal Drug Compounding Capsules
- Animal Drug Compounding Suspension
- Animal Drug Compounding Solutions
- Animal Drug Compounding Powders
- Others
Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
Animal Drug Compounding Market – Scope of Report
A new study from Fact. M.R. on the compounding of animal drugs gives a 10-year forecast for 2021 until 2031. The study focuses on the key developments currently driving the market’s growth.
This report explains essential developments, such as factors that drive the restraints and opportunities for the significant market players and major stakeholders and emerging players in the field of compounding animal drugs.
The study also outlines the various dynamics that will determine the market’s future direction during the forecast time.
A thorough assessment of values chain analysis and business implementation as well as supply chain analyses across markets in regional regions is covered in the study. A listing of firms that operate in the compounding animal drugs market and their portfolios of products improves the validity of this thorough study.
Report Summary
The study provides a comprehensive analysis of various features that include the development of products, demand revenue generation, and sales of compounding animal drugs across all regions.
A complete estimate of the market is provided by both an optimistic and more conservative forecast which considers the sales forecast for the next few years. Comparison of price points across regions with global average prices is also a part of the research.
Key Questions Answered in Report
- What is the best market for compounding animal drugs?
- What factors will influence the demand for compounding animal drugs for animals?
- What impact will change in trends have on the strategies of market participants?
- How can market players capitalize on the opportunities that are low hanging across regions?
- Which companies are dominating the market for compounding animal drugs?
- What are the most effective strategies of all the stakeholders involved in compounding the animal drugs landscape?
Inspected Assessment on Regional Segments
The report has developed certain sections that have helped provide projections for regional markets. The chapters cover macros for regional markets (political and economic) and a business outlook on the environment) that are predicted to impact the market’s development over the forecast time.
The country-specific value of the demand for compounding animal drugs is provided for each market in the region. It includes forecasts and estimates for the market’s scope, including price index and impact analysis of trends of prominence across regions and nations. For all areas and markets, estimates of Y-o Y growth are also included in the report.
The report also includes a detailed breakdown of the value to emerging nations.
Research Methodology
In fact. study is a distinctive research method used to conduct extensive research about the expansion of the compounding animal drugs market and make conclusions regarding the growth that will affect this market. This research method involves a mix of secondary and primary research, allowing analysts to verify the accuracy and credibility of the conclusions drawn.
Secondary sources that analysts refer to during the process of preparing the market research report include information from governmental agencies as well as white papers, trade journals, and both external and internal proprietary databases. Analysts have spoken with senior managers, portfolio managers, CEOs, V.P.s, marketing/product managers, and market intelligence managers. Each has contributed to creating the report’s research findings as a principal source.