The Compounding Pharmacies Market to Grow On a Capricious Note with Digitization
Posted by Steve Sharma on December 20th, 2021
As per Persistence Market Research’s latest revised industry analysis, the North America vet compounding pharmacies market is expected to witness high growth over the decade. The market is expected to increase from US$ 1.1 Bn in 2020 to over US$ 2.7 Bn by 2031, expanding at a CAGR of around 8.5%.
A compounded drug is a modification of its original form. The U.S. Food and Drug Administration (FDA) considers complex drugs as “Extra Label Drugs.” This means that a combination drug is a custom form of FDA-approved veterinary drug. The veterinarian’s composition must be done by either the veterinarian or the pharmacist who received the prescription from the veterinarian. Complex drugs are made on a case-by-case basis for specific patients or animals, and not in large quantities.
Availability of alternative dosage forms other than the commercially available veterinary drugs is an important factor for the growing market in North America. For example, anti-parasitic drugs for cattle and antiflea drugs for dogs and cats are the most successful transdermal drugs used from compounding pharmacies. Availability of dosage forms such as transdermal drug delivery, flavored gels, flavored treats or biscuits, and others will help the market experience high growth in the future.
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About the AuthorSteve Sharma
Joined: April 12th, 2021
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