About the Report
The global animal drug compounding market is expanding steadily with rise in demand for various animal anti-infectives and animal anti-inflammatory drugs such as tramadol, ketoconazole, and metronidazole, to name a few.
As key industry players are inventing a variety of products with different routes of administration such as oral, injectable, topical, and others, the industry is growing further in both, value and volume.
A recent report on animal drug compounding by Fact.MR offers an exhaustive overview of the global industry, along with its demand & supply patterns, major driving & restraining factors, and new trends for the forecast period of 2021 to 2031.
As stated in the report, the United States, Germany, China, India, Japan, and a few other countries will emerge lucrative markets, while 20+ other countries will have high potential during the forecast period.
Historical Vs. Future Outlook on Animal Drug Compounding
As advancements in the manufacturing and pharmaceutical sectors picked pace during the past years, animal drug compounding stakeholders have been getting highly benefitted from it. Increase in requirement for various animal drug compounding products such as CNS agents, GI drugs, veterinary anti-infectives, anti-inflammatory drugs in veterinary medicine, and others further boosted sales during the last 5 years from 2016 to 2020.
As demand for animal drug compounding products is becoming prominent, key manufacturers are focusing more on bringing in a wider variety of products with various routes of administration such as oral, injectable, topical, and ocular, to name a few. Furthermore, surge in demand from companion animal and livestock animal segments is set to aid industry growth through 2031.
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How are Advancements in Pharmaceutical Sector Spearheading Demand for Animal Drug Compounding?
With advancements in the pharmaceutical sector, animal drug compounding product manufactures are coming across greater growth scope at present. According to a report published by SelectUSA on 6th September 2019, the pharmaceuticals industry is the best prospect industry in Japan.
As stated in the report, the Japan market for prescription and non-prescription pharmaceuticals in 2018 totaled US$ 87 billion in 2018, while more than 90% of the industry consists of prescription pharmaceuticals.
As per data revealed by Select USA in a report published on 30th July 2019, the Chinese pharmaceutical industry is highly potential and was valued at US$ 134 billion in 2018, and grew to approximately US$ 154 billion in 2020. These, in turn, indirectly refer to the new opportunities awaiting suppliers of compounded medication for pets around the globe.
What are the Key Challenges Faced by Veterinary Compounded Drug Manufacturers?
There are a few negative sides of animal drug compounding products and processes, such as-
- The entire process cycle is complex and time consuming
- Development of animal drug compounding products requires expensive laboratory set-ups and ingredients
- Testing and transition of animal drug compounding products often requires additional costs
- Proper testing and experts handling are required, or else, it may have adverse effects on animals
However, key players and manufactures are giving the best of their efforts in order to minimize these restraints and excel in this field.
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What’s Augmenting Demand for Animal Drug Compounding in the United States?
The United States has been leading in North America’s market for animal drug compounding since the past decade, and is predicted to maintain its position throughout the forecast period. Growing pharmaceutical and manufacturing sectors coupled with rise in demand for various animal drugs among people having pets are fuelling sales in the country.
According to a report titled “Pet Industry Market Size, Trends, and Ownership Statistics”, published by the American Pet Products Organization, 67% of U.S. households own pets, while in 2020, US$ 103.6 billion was spent on pets in the U.S. As stated in the report, for 2021, it is estimated that nearly US$ 109.6 billion will be spent on pets in the U.S. These represent lucrative growth scope in the U.S. for animal drug compounding product suppliers.
What’s Catering to Demand Growth for Animal Drug Compounding Products in Germany?
Germany is the leading country in Europe for animal drug compounding, and is likely to exhibit hegemony during the forecast period. Demand for various animal drug compounding products such as anti-infectives, anti-inflammatories, and others is steadily expanding, and the pharmaceutical sector is catering to demand growth in Germany.
According to a report titled “The Pharmaceutical Industry in Germany”, published by the Germany Trade & Investment (GTAI), Germany’s pharmaceutical sector generated production value of EUR 36.1 billion in 2018, making it the leading pharmaceutical manufacturing location in the European Union (EU). As stated in the report, the German pharmaceutical sector shows the highest research intensity across all major German industries, with around 12.5% of revenue being reinvested in R&D, as in 2018. This is set to create new avenues for animal drug compounding product manufacturers in the country.
What Makes China a Hotspot for Animal Drug Compounding?
China is at the forefront of Asia Pacific as far as animal drug compounding is concerned, and is anticipated to rise further through 2031. Rise in demand for various animal drug compounding products with diverse routes of administration, starting from oral to ocular, and expanding pharmaceutical sector, are spurring market growth in China.
As stated in a report titled “China- Pharmaceuticals”, published on 30th July 2019, pharmaceuticals is the best prospect industry in China. According to the report, China’s pharmaceutical industry value reached almost US$ 140 billion in 2019, and is forecast to surpass US$ 155 billion through 2031. No doubt that it will create huge opportunities for animal drug compounding stakeholders in the near future.
Why are Stakeholders Eyeing India?
India is another highly lucrative market for animal drug compounding, and is expected to grow further in the foreseeable future. Rise in demand from companion and livestock animal segments and advancements in pharmaceutical sector are propelling growth in India.
According to a report published by Invest India, India is a prominent and fast-growing pharmaceutical market, while total pharma exports is worth US$ 19.3 billion. As stated in the report, India’s pharmaceutical sector is expected to reach US$ 65 billion by 2024 and US$ 120 billion by 2030. These figures represent the high potential of India for animal drug compounding industry players.
Which Product is Bolstering Growth of Animal Drug Compounding?
Currently, anti-infectants are leading and are expected to sustain their position through 2031. There are various advantages of these products, such as-
- highly efficient in critical caring
- useful for preventing various infections
- has a lot of variety such as metronidazole, ketoconazole, and others
- can be administered easily
As a result, this segment sees high demand globally.
Other key segments catering to market growth are high demand for CNS agents, besides anti-inflammatory, GI drugs, and others.
Which Route of Administration is Most Preferred for Animal Drug Compounding?
Currently, oral administration is the dominant segment owing to various factors such as-
- less side effects
- no additional cost
Other key segments fueling sales in this category are injectable, topical, rectal, and ocular.
An Adaptive Approach to Modern-day Research Needs
The global animal drug compounding market offers a highly competitive environment to key players. In order to sail through the cut-throat competition, key industry players are launching more variety of products.
- Tache Pharmacy recently launched its new range of animal drug compounding products with special flavoring, dosage adjustment, and alternative medication delivery medium.
- Smith’s Pharmacy launched its new range of animal drug compounding solutions for wound care, dermatology, postpartum care, and others, a couple of years back.
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Historical Data Available for
USD Million for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
Available upon Request
Market Segmentation by Category
- Other Antibiotics
- Other Anti-Inflammatory
- CNS Agents
- Potassium Bromide
- Other CNS Agents
- GI Drugs
- Other GI Drugs
- 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
- Companion Animal
- Animal Drug Compounding for Dogs
- Animal Drug Compounding for Cats
- Animal Drug Compounding for Horses
- Animal Drug Compounding for Birds
- Livestock Animal
- Companion Animal
- Animal Drug Compounding Capsules
- Animal Drug Compounding Suspension
- Animal Drug Compounding Solutions
- Animal Drug Compounding Powders
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
Animal Drug Compounding Market - Scope Of Report
A recent study by Fact.MR on the animal drug compounding market offers a 10-year forecast from 2021 to 2031. The study analyzes crucial trends that are currently determining market growth.
This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with animal drug compounding.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.
A detailed assessment of the value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the animal drug compounding market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including demand, product development, revenue generation, and sales of animal drug compounding across regions.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account sales during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative markets for animal drug compounding?
- Which factors will impact demand for animal drug compounding?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the animal drug compounding market?
- What are the winning strategies of stakeholders in the animal drug compounding landscape?
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
Country-specific valuation on demand for animal drug compounding has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the animal drug compounding market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.