Animal Drug Compounding Market Global Industry Analysis - Alternate Flavored Dosage Forms Gaining Popularity

Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Animal Drug Compounding Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to * ResearchAndMarkets.com's* offering.

The global animal drug compounding market, valued at approximately US$ 1.4 billion in 2024, is poised to experience substantial growth, reaching a projected valuation of US$ 2.2 billion by the end of 2031, according to the latest industry report.

*Alternate Flavored Dosage Forms Gaining Popularity*

One of the key drivers propelling the growth of the animal drug compounding market is the increasing popularity of alternate flavored dosage forms. Unlike conventional veterinary medications, compounded animal pharmaceuticals offer a variety of dosing strengths and alternative dosage formats, making it easier for pet owners to administer medication to their animals.

Compounded medications are often designed in appealing flavors such as tuna for cats, treats, biscuits, or meat-flavored forms for dogs, and concentrated liquids with fruit flavors for birds. This innovation in dosage forms significantly enhances patient compliance and opens up avenues for future revenue generation.

*Lack of Interdisciplinary Training and Contaminated Compounded Drugs Pose Challenges*

However, the growth of the animal drug compounding market faces challenges. The lack of qualified and experienced practitioners in the field of animal health is a major obstacle. Some veterinarians, without specific expertise in pharmaceutical compounding, offer compounding services, which can pose risks to animal health due to the potential for inaccurate medications.

Additionally, there is a concern about the quality and safety of compounded veterinary pharmaceuticals. Adulterated compounded drugs have been reported, leading to harmful effects on animals. The need for strict regulatory oversight to ensure the safety and effectiveness of compounded drugs remains crucial to the industry's growth.

*Country-wise Insights*

*U.S. Market Booming*

The United States is witnessing a booming market for animal drug compounding, driven by expanding manufacturing and pharmaceutical sectors and an increase in pet ownership. The country's strong regulatory environment for the veterinary industry fosters innovation and long-term growth prospects.

*Germany's Lucrative Market*

Germany leads the European market and is expected to continue thriving, thanks to the growing demand for various animal drug compounding products and government initiatives to promote animal welfare.

*Australia's Prominence*

Australia is emerging as a prominent market for animal drug compounding due to the humanization of pets, rising adoption rates, and a robust regulatory framework led by the Australian Pesticides and Veterinary Medicines Authority (APVMA).

*Competitive Analysis*

Leading companies in the animal drug compounding sector are actively pursuing strategies such as collaboration and acquisition agreements to expand their market presence and increase revenue. These companies are also implementing effective marketing tactics to boost consumer demand for their products.

*Key Company Profiles*

· Hoye's Pharmacy
· Vertisis Custom Pharmacy
· Smith Caldwell Drug Store
· Sixth Avenue Medical Pharmacy
· Dougherty's Pharmacy
· Triangle Compounding Pharmacy Inc.
· Medisca Inc.
· Wedgewood Pharmacy
· Millers Pharmacy
· Chiron Compounding Pharmacy
· MEDS Canadian Compounding Pharmacy
· Aurora Compounding
· Pace Pharmacy
· Victoria Compounding Pharmacy
· Pratt's Compounding Pharmacy
· People's Choice Pharmacy

*Key Segments Covered in Animal Drug Compounding Industry Research*

*Product:*

· CNS Agents
· Anti-Infective Agents
· Hormones and Substitutes
· Anti-inflammatory Agents
· Others

*Animal:*

· Companion Animal
· Cats
· Dogs
· Others
· Livestock Animals

*Formulation:*

· Oral
· Injectable
· Others

*Region:*

· North America
· Latin America
· Europe
· South Asia
· East Asia
· Oceania
· Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/rocija

*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900