Animal Drug Compounding Market Report 2024 (Global Edition)

Global Animal Drug Compounding Market Report 2024 Market Size Split by Animal Type (Companion Animals, Dogs, Cats, Others, Livestock Animals), by Product (Anti-infective Agents, Anti-inflammatory Agen...

Animal Drug Compounding Market Report Description

We have various report editions of Animal Drug Compounding Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Animal Drug Compounding Market

The major players adopt novel approaches quickly to gain a competitive advantage and take a substantial portion of the market. To serve a sizable customer base and obtain an edge over their rivals, the top players in the animal drug compounding marketplace place great importance on growing their unique offers.

Animal Drug Compounding Industry News

• August 2022, Vimian Group has purchased Heiland GmbH, a leading online ordering tool, to better serve veterinary clinics in Germany. A major turning point in Vimian Group's strategy to digitalize its broad range of services for veterinary hospitals has been reached with the acquisition.

(Source: finance.yahoo.com/news/vimian-group-acquires-leading-online-062000203.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADrA6nRJGZ1BTYzF5bIVq9PLMlapt-TbodAYiQpHhHKufP18O-E00CMaJ-pbspLE4C7jz9F__PQ2HV4euIVsbWNzV3wf4xR-6GR6XXYGy_kKMtUWujggegP5cD_kR37tD39hk1vr_fMcepjOJKTw3CN_zAI_7AttCBb_f8tLAjpn)

Top Companies Market Share in Animal Drug Compounding Industry: (In no particular order of Rank)

• WEDGEWOOD PHARMACY
• Vimian
• harmaca.
• Akina Animal Health
• Triangle Compounding.
• Davis Islands Pharmacy and Compounding Lab
• Custom Med Compounding Pharmacy
• Central Compounding Center South.
• Wellness Pharmacy of Cary.
• Miller's Pharmacy
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the North American Animal Drug Compounding Market share was 40% of the total market

According to Cognitive Market Research, North America led the market in 2023 and generated around 40% of worldwide revenue. The region's dedication to providing cutting-edge veterinary care, including customized pharmaceuticals for companion and livestock animals, fueled market expansion. North America is a key player in determining the direction of the animal drug compounding market because of its emphasis on specialized solutions that address particular health concerns and the rising demand for veterinary formulations that are specifically matched to the patient's demands.

Europe is the fastest-growing category as The region's focus on cutting-edge veterinary treatment and environmentally friendly methods encourages market growth. Europe is a key player in determining the direction of the animal drug compounding market, emphasizing individualized medication for companion and farm animals. This is due to the region's demand for novel healthcare solutions and veterinary formulations specifically tailored to its patients' needs.

The current report Scope analyzes Animal Drug Compounding Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Animal Drug Compounding Market

According to Cognitive Market Research, the global Animal Drug Compounding market size was estimated at USD 2215.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 886.08 million in 2023 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030. The market for animal drug compounding is expanding significantly in North America due to a forward-thinking approach to cutting-edge veterinary treatment. The area promotes innovation in healthcare solutions with an emphasis on customized drugs for companion and livestock animals. The desire for compounded pharmaceuticals that target certain health issues in dogs is a major factor propelling this increase. The market demonstrates a movement in consumer preferences toward customized veterinary formulations, underscoring the critical role that North America plays in improving the veterinary care landscape and the animal drug compounding sector. Because of its dedication to providing personalized, high-quality healthcare solutions, the area is well-positioned to influence the direction of the market.

• According to Cognitive Market Research, the US had a major share in the Animal Drug Compounding market with a market size of USD 699.12 million in 2023 and is projected to grow at a CAGR of 6.5% during the forecast period. This is majorly due to the growing demand for dedication to cutting-edge veterinary procedures and sustainable agriculture. 
• The Canada Animal Drug Compounding market had a market share of USD 106.33 million in 2023 and is projected to grow at a CAGR of 7.5% during the forecast period. This is due to the emphasis on individualized. 
• The Mexico Animal Drug Compounding market is projected to witness growth at a CAGR of 7.2% during the forecast period with a market size of USD 80.63 million in 2023.

Europe Animal Drug Compounding Market

According to Cognitive Market Research, with a market value of USD 2215.2 million in 2023 and projected to expand at a compound annual growth rate (CAGR) of 7.0% from 2023 to 2030, Europe accounted for a share of over 30% of the global Animal Drug Compounding market size of USD 664.56 million. The market for animal drug compounding is expanding significantly in Europe due to a dedication to sustainable practices and cutting edge veterinary treatment. Specializing in customized drug regimens for companion and livestock animals, the area leads the way in cutting-edge medical advancements. The need for compounded pharmaceuticals that address particular health issues in pets is a significant element driving this increase. Due to its strict regulations and focus on moral veterinary care, Europe has a significant impact on the development of the animal drug compounding industry. The market's growth is indicative of a rising consumer demand for customized veterinary formulations and underscores Europe's critical role in driving industry advancement and guaranteeing the best possible individualized animal treatment.

• According to Cognitive Market Research, the Germany Animal Drug Compounding market size was valued at USD 131.58 million in 2023 and is projected to grow at a CAGR of 7.2% during the forecast period. This is majorly due to the adoption of compounded veterinary formulations to treat particular health concerns in pets. 
• The United Kingdom Animal Drug Compounding market had a market share of USD 111.65 million in 2023 and is projected to grow at a CAGR of 7.8 % during the forecast period. This is due to the growing middle class and greater pet ownership.
• The France Animal Drug Compounding market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 61.14 million in 2023.
• The Italy Animal Drug Compounding market is projected to witness growth at a CAGR of 6.4% during the forecast period with a market size of USD 57.15 million in 2023.
• The Russia Animal Drug Compounding market is projected to witness growth at a CAGR of 6.0% during the forecast period with a market size of USD 103.01 million in 2023.
• The Spain Animal Drug Compounding market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD 54.49 million in 2023.
• The Portugal Animal Drug Compounding market is projected to witness growth at a CAGR of 6.8% during the forecast period with a market size of USD 13.96 million in 2023.
• The Luxembourg Animal Drug Compounding market is projected to witness growth at a CAGR of 7.1% during the forecast period with a market size of USD 20.60 million in 2023.
• The Greece Animal Drug Compounding market is projected to witness growth at a CAGR of 7.3% during the forecast period with a market size of USD 7.97 million in 2023.
• The Rest of Europe Animal Drug Compounding market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 103.01 million in 2023.

Asia Pacific Animal Drug Compounding Market

According to Cognitive Market Research, the global Animal Drug Compounding market size was estimated at USD 2215.2 Million out of which Asia Pacific held the market of more than 23% of the global revenue with a market size of USD 509.50 million in 2023 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2023 to 2030. Due to growing emphasis on animal health and increased awareness of modern veterinary treatment, the animal drug compounding market in Asia Pacific is expanding significantly. The wide variety of animal species found in the area's geography adds to the need for individualized treatment plans for companion and livestock animals. The use of compounded pharmaceuticals to treat particular medical issues in dogs is a major market driving this increase. In order to fulfill the diversified needs of its expanding and diverse animal population, Asia Pacific is positioned as a major participant in influencing the trajectory of the animal drug compounding market thanks to the region's changing veterinary landscape and the demand for cutting-edge healthcare solutions.

• According to Cognitive Market Research, the China Animal Drug Compounding market size was valued at USD 229.27 million in 2023 and is projected to grow at a CAGR of 10.0% during the forecast period. This is majorly due to the country's expanding pet sector. 
• The India Animal Drug Compounding market had a market share of USD 61.14 million in 2023 and is projected to grow at a CAGR of 12.3% during the forecast period. This is due to the rising awareness of improved veterinary treatment. 
• The Japan Animal Drug Compounding market is projected to witness growth at a CAGR of 9.0% during the forecast period with a market size of USD 70.31 million in 2023.
• The South Korea Animal Drug Compounding market is projected to witness growth at a CAGR of 9.6% during the forecast period with a market size of USD 50.95 million in 2023.
• The Australia Animal Drug Compounding market is projected to witness growth at a CAGR of 10.2% during the forecast period with a market size of USD 26.49 million in 2023.
• The South East Asia Animal Drug Compounding market is projected to witness growth at a CAGR of 10.5% during the forecast period with a market size of USD 35.16 million in 2023.
• The Rest of Asia Pacific Animal Drug Compounding market is projected to witness growth at a CAGR of 10.3% during the forecast period with a market size of USD 36.17 million in 2023.

South America Animal Drug Compounding Market

According to Cognitive Market Research, the global Animal Drug Compounding market size was estimated at USD 2215.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 110.76 million in 2023 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030. The market for animal drug compounding is expanding significantly in Latin America due to rising demand for ethical and sustainable animal health practices as well as increased awareness of advanced veterinary treatment. The varied agricultural terrain of the area fuels the need for compounded drugs for use in companion and livestock animals. A significant factor driving this expansion is the use of compounded drugs to treat particular ailments in animals. Because of its dedication to ethical veterinary care, Latin America is positioned to have a significant impact on the development of the animal drug compounding industry. The market's growth highlights a growing demand from consumers for customized veterinary formulations, which is in line with Latin America's critical role in improving the sector and guaranteeing high standards of specialized animal healthcare.

• According to Cognitive Market Research, the Brazil Animal Drug Compounding market size was valued at USD 47.41 million in 2023 and is projected to grow at a CAGR of 8.5% during the forecast period. This is majorly due to the growing demand for growing emphasis on personalized treatment plans. 
• The Argentina Animal Drug Compounding market had a market share of USD 18.61 million in 2023 and is projected to grow at a CAGR of 8.8% during the forecast period. This is due to the compounded drugs that address the unique health requirements of dogs. 
• The Colombia Animal Drug Compounding market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 9.86 million in 2023.
• The Peru Animal Drug Compounding market is projected to witness growth at a CAGR of 8.1% during the forecast period with a market size of USD 9.08 million in 2023.
• The Chile Animal Drug Compounding market is projected to witness growth at a CAGR of 8.2% during the forecast period with a market size of USD 7.97 million in 2023.
• The Rest of Latin America Animal Drug Compounding market is projected to witness growth at a CAGR of 7.0% during the forecast period with a market size of USD 17.83 million in 2023.

Middle East and Africa Animal Drug Compounding Market

According to Cognitive Market Research, the global Animal Drug Compounding market size was estimated at USD 2215.2 Million out of which Middle East and Africa held the major market of more than 2% of the global revenue with a market size of USD 44.30 million in 2023 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2023 to 2030. The market for animal drug compounding is expanding in the Middle East and Africa as a result of rising awareness of cutting-edge veterinary treatment and a focus on enhancing animal health in a variety of environments. The region's distinct difficulties and diverse livestock population fuel the need for compounded pharmaceuticals tailored to certain medical concerns. The use of compounded pharmaceuticals for companion and livestock animals is a significant factor driving this growth and demonstrates the region's dedication to raising the bar for veterinary care. In order to fulfill the varied healthcare demands of its expanding and diverse animal populations, the Middle East and Africa's veterinary landscape is constantly changing, which places the region as a major role in determining the direction of the animal drug compounding market.

• According to Cognitive Market Research, the GCC Countries Animal Drug Compounding market size was valued at USD 18.96 million in 2023 and is projected to grow at a CAGR of 9.0% during the forecast period. This is majorly due to the growing need for individualized veterinarian care. 
• The South Africa Animal Drug Compounding market had a market share of USD 7.00 million in 2023 and is projected to grow at a CAGR of 9.2% during the forecast period. This is due to the increased demand for companion animal pharmaceuticals. 
• The Egypt Animal Drug Compounding market is projected to witness growth at a CAGR of 8.5% during the forecast period with a market size of USD 4.65 million in 2023.
• The Turkey Animal Drug Compounding market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 3.81 million in 2023.
• The Nigeria Animal Drug Compounding market is projected to witness growth at a CAGR of 7.3% during the forecast period with a market size of USD 4.65 million in 2023.
• The Rest of MEA Animal Drug Compounding market is projected to witness growth at a CAGR of 7.2% during the forecast period with a market size of USD 5.23 million in 2023.

Animal Drug Compounding Market Analysis

Animal Drug Compounding Animal Type Segment Analysis

According to Cognitive Market Research, companion animals held the major market share over the forecast period. Pet owners are becoming increasingly in need of individualized drug regimens catered to their specific demands. This trend highlights the value of compounding in veterinary medicine by treating certain ailments and improving general pet care, which supports the expansion of the industry.

Livestock animals is the fastest-growing category over the forecast period. Compound drugs are essential for meeting the special health needs of cattle as the world's demand for meat and dairy products rises. The necessity for specific veterinary formulations to maximize the production and health of livestock animals in contemporary agricultural operations is driving this market expansion.

• Companion Animals
• Dogs
• Cats
• Others
• Livestock Animals

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Animal Drug Compounding Industry. Request a Free Sample PDF!

Animal Drug Compounding End User Segment Analysis

According to Cognitive Market Research, CNS agents hold a prominent market share. These specialist substances treat neurological diseases in companion and farm animals. The need demonstrates the market's responsiveness to neurological health concerns for compounded pharmaceuticals containing CNS drugs. This underscores the importance of customized veterinary formulations in meeting particular animal health needs and promoting market expansion.

Hormones & substitutes are the fastest-growing category over the forecast period. Hormone replacements or compounds are used in compounded pharmaceuticals to address particular requirements in companion and livestock animals. The need for customized veterinary formulations that address hormonal imbalances and medical disorders is reflected in this trend. The market for compounding animal drugs is becoming more and more versatile with the addition of Hormones & Substitutes.

• Anti-infective Agents
• Anti-inflammatory Agents
• Hormones & Substitutes
• CNS Agents
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Animal Drug Compounding Route of Administration Segment Analysis

According to Cognitive Market Research, oral formulations hold a prominent market share. For companion and livestock animals alike, oral formulations provide practical and efficient ways of administration. The need for compounded oral drugs to address various health conditions is growing as veterinary compounding offers customized solutions. This pattern indicates a need for customized veterinarian care, which supports the market's overall growth for animal drug compounding.

Topical is the fastest-growing category over the forecast period. Topical medicines provide focused and localized therapeutic choices for various dermatological problems in companion and livestock animals. The need for tailored veterinary treatment is highlighted by the rising demand for compounded topical remedies, which address particular skin-related issues and support the market expansion for animal drug compounding.

• Oral
• Injectable
• Topical
• Others

Animal Drug Compounding Dosage Form Segment Analysis

According to Cognitive Market Research, suspensions hold a prominent market share. Liquid solutions known as suspensions provide a flexible and personalized means of giving drugs to livestock and companion animals. This versatile and easy-to-use delivery system makes compounded treatments more appealing, treating various medical ailments and bolstering the market for animal drug compounding.

The solutions are the fastest-growing category over the forecast period. Compounded treatments provide flexible and customized options for various health issues in companion and livestock animals. The market is growing because of the solutions' ease and efficacy, which indicates consumers' increasing need for customized veterinary formulations in the animal drug compounding industry.

• Suspensions
• Solutions
• Capsules

Author's Detail

Manjiri Kanhere

Senior Research Associate at Cognitive Market Research

LinkedIn

Profile

Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.

Author's Conclusion