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How has the animal drug compounding market size evolved in recent years?

In recent times, the market size of animal drug compounding has experienced a significant increase. The projected growth is from $1.67 billion in 2024 to $1.79 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. Factors contributing to the growth during the historic period include regulatory landscape, veterinary practices, market awareness, scarce commercial options, and veterinary collaboration.

What are the predictions for the animal drug compounding market size in the coming years?

The market size for animal drug compounding is expected to see significant expansion in the upcoming years. The projections suggest it will reach $2.38 billion by 2029, increasing at a compound annual growth rate (CAGR) of 7.4%. Factors contributing to the projected growth during the prediction period include regulatory improvements, trends in pet ownership, advanced veterinary care, the internationalization of veterinary services and breakthroughs in veterinary medicine. Key trends predicted during this period also include a focus on enhancing flavor and palatability, increasing demand for specialized dosage forms, partnerships between veterinarians and compounding pharmacists, emphasis on solutions for pain management, and an expanding role in the field of veterinary hospice care.

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What key factors are fueling the growth of the animal drug compounding market?

The anticipated increase in animal adoption rates is projected to fuel the expansion of the animal drug compounding market. The process of animal adoption, which involves acquiring pets through rescue groups instead of buying them from pet shops or breeders, often necessitates the need for specialized animal medication. This is due to the potential presence of pre-existing health issues in adopted pets or the need for drugs not available in standard formulations. With an increasing number of pet owners possibly seeking tailored medications for their newly adopted pets, the demand for animal drug compounding escalates. For example, Novuna, a UK-based financial service company, reported in October 2023 that roughly 10,070 dogs were adopted. This was a growth of 11.06% compared to 2022, indicating that increasing animal adoption rates are fostering the expansion of the animal drug compounding market.

How is the global animal drug compounding market divided into key segments?

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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Who are the key firms paving the way for growth 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

Which trends are expected to transform the animal drug compounding market?

Leading businesses in the animal drug compounding market are innovating products like feline-friendly formulations to improve safety and effectiveness of medicines designed just for cats. This concept of feline-friendly formulations pertains to products specifically crafted to be secure, effective and attractive for cat use. For example, in September 2024, Wedgewood, a veterinary pharmaceutical company in the US, introduced an antiviral drug called compounded molnupiravir. Tailored notably for treating Feline Infectious Peritonitis (FIP) in cats, this drug comes in multiple dosages designed for different variations of FIP such as effusive, non-effusive, neurological, and ocular types. The drug is created in varied dosages and flavors, encompassing flavored oral oil suspensions and capsules, catering to individual requirements of each feline patient.

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What regions are contributing significantly to the growth of 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

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