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Animal Drug Compounding Market Size
- Report ID: GMI10492
- Published Date: Jul 2024
- Report Format: PDF
Animal Drug Compounding Market Size
Animal Drug Compounding Market size was valued at USD 2.2 billion in 2023 and is estimated to grow at 8.3% CAGR from 2024 to 2032. The market has seen substantial growth due to the increasing prevalence of chronic diseases among pets and livestock animals which has increased the emphasis on personalized veterinary care.
Chronic diseases such as arthritis, diabetes, cancer, and other diseases are anticipated to significantly increase the demand for tailored medication solutions that standard pharmaceuticals often fail to provide. This trend towards personalized veterinary care is fostering a greater reliance on compounded drugs to meet the diverse needs of animals further bolstering the market growth.
In addition, global pet ownership continues to grow, owners are becoming more attuned to their pets' specific health requirements, driving the need for customized medications that effectively address these unique conditions, further propelling market growth.
Animal drug compounding is the process of creating customized drugs for animals by combining, mixing, or altering ingredients to meet specific health needs. This practice is essential when commercially available drugs do not adequately address an animal's unique condition, dosage requirements, or formulation preferences. Compounded medications can include tailored dosages, flavors, or forms (such as liquids or gels) to enhance palatability and compliance.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Animal Drug Compounding Market Size in 2023: | USD 2.2 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 8.3% |
| 2024 – 2032 Value Projection: | USD 4.5 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 170 |
| Tables, Charts & Figures: | 373 |
| Segments covered: | Segments Covered: Animal Type, Drug Type, Dosage Form, Distribution Channel, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Animal Drug Compounding Market Scope
