Veterinary Compounding Pharmacies Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 to 2021 and Forecast 2022 to 2028

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Veterinary Compounding Pharmacies Market By Type of Animal (Swine, Poultry, Bovine, Equine, Canine, and Aquaculture) By Type of Dosage (Flavoured Liquids, Tablet Triturates, Transdermal, Capsules, and Flavoured Pastes), By Product (CNS Agents, Anti-Infective Agents, Hormones and Substitutes, Anti- Inflammatory Agents, and Others) and Geography

 

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Report

Description

veterinary compounding pharmacies market size is valued at USD 1.9 billion in 2021 and is poised to grow at a significant CAGR of 8.5% over 2022–2028. The range of therapeutic demands in veterinary medicine is rather broad, and the number of licensed pharmacological items for all veterinary species and indications is comparably restricted. As a result, animal medication compounding is critical for filling treatment gaps in these non-human species. When appropriate government-approved medications are unavailable, compounded pharmaceuticals give alternative therapies for animals. Commercially approved drugs in specific dosage forms are suggested for use in particular species, such as chewable pills that are not acceptable in cats or exotic animals. Similarly, due to their taste, several commercially authorized items are hated by some animals. Compounding is favored in this situation, especially for difficult-to-medicate medications. As a result, regulatory-accredited institutions with appealing products should benefit. Result in; producers are having the opportunity to partner with such organizations and seize market opportunities. For animal treatment, the majority of branded medications are available. In these situations, most pet owners opt for compounded drugs, which are less expensive than branded alternatives, are readily available, and do not require a prescription. More significant revenue can be gained in the veterinary compounding pharmacies market by developing uniform criteria for compounded preparations. In the animal medicine compounding sector, inorganic techniques such as mergers and acquisitions are gaining traction. For instance, Wildlife Pharmaceuticals, Inc. and its subsidiary ZooPharm have been acquired by Wedgewood Pharmacy, a PCAB-accredited compounding pharmacy, to capitalize on incremental potential with advancements in veterinary anesthesia and pain-management drugs. Animal medication compounding companies are expanding their services to include treating local wildlife, non-domestic species, companion animals, and captive exotic breeds. Companies are researching and developing specialized drugs for aquariums, wildlife management groups, conservation sites, and private ranches. Compounded pharmaceuticals are significantly more accessible, cost-effective, and do not require repeated prescriptions; thus, the veterinary compounding pharmacy market globally thrives.

Recent Market Developments:

In December 2020, Wedgewood Pharmacy and Partners Group signed a definitive purchase agreement to replace New Harbor Capital as its majority shareholder.

Veterinary Compounding Pharmacies Market

MARKET SUMMARY
-
8.5%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 8.5%
  • Largest Market– Europe
  • Fastest Growing Market– North America

Veterinary Compounding Pharmacies Market

  • The report on global veterinary compounding pharmacies market gives historical, current and future market sizes (US$ Bn) based on by type of animal, product type, dosage and geographical regions.
  • veterinary compounding pharmacies market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Diamondback Drugs LLC,
  • Lorraine’s Pharmacy,
  • Slade Dispensary Services,
  • Wedgewood Pharmacy,
  •  Chiron Compounding Pharmacy
Veterinary Compounding Pharmacies Market Dynamics

The increasing animal population and improved life expectancy offer significant market growth potential. In addition, the rising rate of drug failure and the global drug scarcity will drive demand for compounding pharmacies. Moreover, rising awareness of the benefits of compounded medications, which will lead to higher use of such medicines, will propel the market forward. Compounded medicine formulations are not guaranteed to be safe by the Food and Drug Administration (FDA). They claim that animal compounded medication formulations can cause significant health problems for animals.


North-America got significant share

Veterinary Compounding Pharmacies Market

The veterinary compounding pharmacies market in North America is likely to hold the highest revenue share in 2022, and, in the following years, it is predicted to increase rapidly. Increased pet adoption, rising knowledge among pet owners, the expensive branded veterinary medications, and a growing preference for oral liquid formulations are likely to fuel demand for veterinary compounding pharmacies in North America. Alternating dosage forms other than commercially accessible veterinary medications are crucial in North America's rising market. For example, compounding pharmacies' most successful transdermal medications are anti-parasitic drugs for cattle and anti-flea drugs for dogs and cats. The availability of dosage forms such as transdermal drug delivery, flavored gels, flavored treats or biscuits, and others will contribute to the market's future growth. In 2021, Germany accounted for a significant share in the European animal medication compounding market in terms of value. The presence of active leading players in the country has increased product availability, resulting in this high market share. Germany's supremacy in the European market is also due to German regulatory agencies' raising awareness about animal welfare and measures. Moreover, demand for animal medication compounding is predicted to expand rapidly in the United Kingdom and France over the projection period.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Veterinary Compounding Pharmacies Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The veterinary compounding pharmacies market is projected to expand at a CAGR of 8.5% during the forecast period.

Smith Caldwell Drug Store, Sixth Avenue Medical Pharmacy, Dougherty’s Pharmacy, Triangle Compounding Pharmacy Inc., Medisca Inc., Wedgewood Pharmacy

North America is the fastest-growing region for veterinary compounding pharmacies market


Report

Table Of Content

  1. Executive Summary
  2. Global Veterinary Compounding Pharmacies Market Introduction
    • Global Veterinary Compounding Pharmacies Market – Taxonomy
    • Global Veterinary Compounding Pharmacies Market –Definitions
      • Animal Type
      • Formulation
  3. Global Veterinary Compounding Pharmacies Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Veterinary Compounding Pharmacies Market Dynamic Factors – Impact Analysis
    • Global Veterinary Compounding Pharmacies Market – Regulations
      • US
      • Europe
    • Global Veterinary Compounding Pharmacies Market –Trends
  4. Global Veterinary Compounding Pharmacies Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024
    • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  5. Global Veterinary Compounding Pharmacies Market Forecast, By Type of Animal, 2013 – 2017 and Forecast, 2018 – 2024
    • Swine
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Bovine
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Equine
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Canine
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Veterinary Compounding Pharmacies Market Forecast, By Formulation, 2013 – 2017 and Forecast, 2018 – 2024
    • Flavoured Liquids
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Tablet Triturates
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Transdermal
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Capsules
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Flavoured pastes
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Veterinary Compounding Pharmacies Market Forecast, By Region, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
    • North America
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Veterinary Compounding Pharmacies Market – Opportunity Analysis Index, By Animal Type, By Formulation and Region, 2018 – 2024
  2. North America Veterinary Compounding Pharmacies Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
    • Animal Type Analysis, 2013 – 2017 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Swine
      • Bovine
      • Equine
      • Canine
    • Formulation Analysis, 2012- 2016 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Veterinary Clinics
      • Veterinary pharmacies
      • Online pharmacies
      • Others
    • Country Analysis 2016 and Forecast 2018 – 2024 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • US
      • Canada
    • North America Veterinary Compounding Pharmacies Market – Opportunity Analysis Index, By Animal Type, By Formulation and Country, 2018 – 2024
    • North America Veterinary Compounding Pharmacies Market Dynamics – Trends
  3. Europe Veterinary Compounding Pharmacies Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
    • Animal Type Analysis, 2013 – 2017 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Swine
      • Bovine
      • Equine
      • Canine
    • Formulation Analysis, 2012- 2016 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Veterinary Clinics
      • Veterinary pharmacies
      • Online pharmacies
      • Others
    • Country Analysis 2013 – 2017 and Forecast 2018 – 2024 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Poland
      • Rest of Europe
    • Europe Veterinary Compounding Pharmacies Market – Opportunity Analysis Index, By Animal Type, By Formulation and Country, 2018 – 2024
    • Europe Veterinary Compounding Pharmacies Market Dynamics – Trends
  4. Asia-Pacific Veterinary Compounding Pharmacies Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
    • Animal Type Analysis, 2013 – 2017 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Swine
      • Bovine
      • Equine
      • Canine
    • Formulation Analysis, 2012- 2016 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Veterinary Clinics
      • Veterinary pharmacies
      • Online pharmacies
      • Others
    • Country Analysis 2013 – 2017 and Forecast 2018 – 2024 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Australia & New Zealand
      • Rest of Asia-Pacific
    • Asia-Pacific Veterinary Compounding Pharmacies Market – Opportunity Analysis Index, By Animal Type, By Formulation and Country, 2018 – 2024
    • Asia-Pacific Veterinary Compounding Pharmacies Market Dynamics – Trends
  5. Latin America Veterinary Compounding Pharmacies Market Analysis, 2012 – 2012 – 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
    • Animal Type Analysis, 2013 – 2017 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Swine
      • Bovine
      • Equine
      • Canine
    • Formulation Analysis, 2012- 2016 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Veterinary Clinics
      • Veterinary pharmacies
      • Online pharmacies
      • Others
    • Country Analysis 2013 – 2017 and Forecast 2018 – 2024 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Venezuela
      • Rest of Latin America
    • Latin America Veterinary Compounding Pharmacies Market – Opportunity Analysis Index, By Animal Type, By Formulation and Country, 2018 – 2024
    • Latin America Veterinary Compounding Pharmacies Market Dynamics – Trends
  6. Middle East and Africa Veterinary Compounding Pharmacies Market Analysis, 2013 – 2017 and Forecast, 2018 – 2024 (Revenue, USD Mn)
    • Animal Type Analysis, 2013 – 2017 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Swine
      • Bovine
      • Equine
      • Canine
    • Formulation Analysis, 2012- 2016 and Forecast 2018 – 2024 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Veterinary Clinics
      • Veterinary pharmacies
      • Online pharmacies
      • Others
    • Country Analysis 2013 – 2017 and Forecast 2018 – 2024 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
    • MEA Veterinary Compounding Pharmacies Market – Opportunity Analysis Index, By Animal Type, By Formulation and Country, 2018 – 2024
    • MEA Veterinary Compounding Pharmacies Market Dynamics – Trends
  7. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • Triangle Compounding Pharmacy Inc. (U.S)
      • Diamondback Drugs LLC (U.S)
      • Lorraine’s Pharmacy (Ontario)
      • Medisca Inc. (Canada)
      • Slade Dispensary Services (Australia)
      • Wedgewood Pharmacy (U.S)
      • Essential Pharmacy Compounding Vet (Kohll’s Pharmacy & Homecare) (U.S)
  1. Research Methodology
  2. Key Assumptions and Acronyms

Report

Company Profile

  • 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

Description

veterinary compounding pharmacies market size is valued at USD 1.9 billion in 2021 and is poised to grow at a significant CAGR of 8.5% over 2022–2028. The range of therapeutic demands in veterinary medicine is rather broad, and the number of licensed pharmacological items for all veterinary species and indications is comparably restricted. As a result, animal medication compounding is critical for filling treatment gaps in these non-human species. When appropriate government-approved medications are unavailable, compounded pharmaceuticals give alternative therapies for animals. Commercially approved drugs in specific dosage forms are suggested for use in particular species, such as chewable pills that are not acceptable in cats or exotic animals. Similarly, due to their taste, several commercially authorized items are hated by some animals. Compounding is favored in this situation, especially for difficult-to-medicate medications. As a result, regulatory-accredited institutions with appealing products should benefit. Result in; producers are having the opportunity to partner with such organizations and seize market opportunities. For animal treatment, the majority of branded medications are available. In these situations, most pet owners opt for compounded drugs, which are less expensive than branded alternatives, are readily available, and do not require a prescription. More significant revenue can be gained in the veterinary compounding pharmacies market by developing uniform criteria for compounded preparations. In the animal medicine compounding sector, inorganic techniques such as mergers and acquisitions are gaining traction. For instance, Wildlife Pharmaceuticals, Inc. and its subsidiary ZooPharm have been acquired by Wedgewood Pharmacy, a PCAB-accredited compounding pharmacy, to capitalize on incremental potential with advancements in veterinary anesthesia and pain-management drugs. Animal medication compounding companies are expanding their services to include treating local wildlife, non-domestic species, companion animals, and captive exotic breeds. Companies are researching and developing specialized drugs for aquariums, wildlife management groups, conservation sites, and private ranches. Compounded pharmaceuticals are significantly more accessible, cost-effective, and do not require repeated prescriptions; thus, the veterinary compounding pharmacy market globally thrives.

Recent Market Developments:

In December 2020, Wedgewood Pharmacy and Partners Group signed a definitive purchase agreement to replace New Harbor Capital as its majority shareholder.

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