Animal Drug Compounding Market To Take An Upward Turn In The Next Decade

Posted by Merin John on June 14th, 2021

Scarce availability of FDA-approved drug formulations for diseases in animals is mended through animal drug compounding, with varied formulations and administration of desired active ingredients. Furthermore, compounded animal drugs are available in alternate dosage forms and dosage strengths, unlike branded veterinary drugs that often come in a single dosage or strength.

Many drugs contain flavoured formulations for the purpose of increasing palatability and compliance. This is done by changing the gritty texture into a smooth and creamy consistency. Abnormal limb coordination, seizures, behavioural changes and blindness in animals such as dogs and cats is commonly observed. CNS drugs are most frequently dispensed in order to treat neurological disorders in animals, and account for the highest demand as far as animal drug compounding is concerned.

Persistence Market Research predicts that the global market for animal drug compounding will be valued at close to US$ 1.9 Bn in 2021, and expand at an 8% CAGR over the forecast period (2021-2031).

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Key Takeaways from Market Study

  •          The global market for animal drug compounding is projected to expand 2X over the next ten years.
  •          Manipulation of animal moods and emotions through hormones and substitutes is expected to aid market growth over the coming years.
  •          Oral formulations are set to dominant the market share at around 80% by 2031.
  •          Increasing awareness about the medical needs of companion pets is expected to contribute to market growth.
  •          The region of North America dominates the global animal drug compounding market, and is expected to retain its top position over the forecast period as well.
  •          The market in the U.S. is expected to progress at around 8% CAGR through 2031, while that in the U.K. is projected to expand at around 10% over the decade.

“Unavailability of commercially produced branded drugs in the market with specific and desired formulations is set to fuel demand for compounded drug formulations over the years to come” says the Persistence Market Research analyst.

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Merin John

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Merin John
Joined: December 11th, 2020
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