Global Veterinary Drugs Compounding Marketis estimated to be valued at US$ 1,179.7 million in 2021, and is expected to exhibit a CAGR of 5.5% during the forecast period (2021-2028).
In November 2020, Chewy, Inc., a pet e-commerce products offering company, launched compounding medications for pet parents and veterinarians. Hence, this expanded the company’s offering to include pharmaceutical grade, compounded prescription medications for customized needs of pets. Such product launches or approvals is boosting growth of the global veterinary drugs compounding market.
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Rise in number of acquisitions, partnerships, and collaborations among market players is expected to propel the growth of the global veterinary drugs compounding market over the forecast period. For instance, in October 2019, Covetrus, a provider of animal-health technology and services, entered into a strategic partnership with Veterinary Study Groups, Inc. The partnership allow Covetrus to provide its prescription management platform and specialty pharmacy products in its current supply chain agreement with Veterinary Study Groups, Inc.
Global Veterinary Drugs Compounding Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has affected several markets such as veterinary medicines across the globe. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. Due to this, governments in various countries adopted social distancing measures, cancellation of routine and non-urgent appointments, which affected the companion animal veterinary care in a negative way i.e., lockdown resulted in the closure of the pet clinics.
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Key Takeaways of the Global Veterinary Drugs Compounding Market:
- The global veterinary drugs compounding market is expected to exhibit a CAGR of 5.5% over the forecast period (2021-2028). North America is expected to account for major market share over the forecast period (2021-2028), due to the growing launches of new drug by market players. For instance, in November 2020, Chewy, Inc., a pet e-commerce company, launched a telehealth service, ‘Connect with a Vet’ in order to connect both, pet parents and veterinarians, to discuss regarding their pet health issues.
- Some of the major players operating in the global veterinary drugs compounding market include Wedgewood Pharmacy, Pace Pharmacy, Tache Pharmacy, The Pet Apothecary, Pet Script, Golden Gate Veterinary Compounding Pharmacy, CareFirst Specialty Pharmacy, Triangle Compounding Pharmacy, Miller’s Pharmacy, and Davis Islands Pharmacy
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Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Drug Class
- Market Snippet, By Animal Type
- Market Snippet, By Formulation
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Porter’s Analysis
- Industry Trends
- Key Highlights
- Epidemiology
- Reimbursement Scenario
- Regulatory Scenario
- Product Launch and Approvals
- Acquisition and Collaboration Scenario
- Market Dynamics
- Global Veterinary Drugs Compounding Market – Impact of Coronavirus (Covid-19) Pandemic
- COVID-19 Epidemiology
- Impact of COVID-19 on Demand and Supply of veterinary drugs compounding
- Impact of COVID-19 on the overall Healthcare Sector
- Global Veterinary Drugs Compounding Market, By Drug Class, 2017 – 2028 (US$ Million)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- CNS Agents
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Anti-infective Agents
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Hormones and Substitutes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Anti-inflammatory Agents
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Introduction
- Global Veterinary Drugs Compounding Market, By Animal Type, 2017 – 2028 (US$ Million)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Companion Animals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Dogs
- Cats
- Others
- Livestock Animals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Introduction
- Global Veterinary Drugs Compounding Market, By Formulation, 2017 – 2028 (US$ Million)
- Introduction
- Market Share Analysis, 2021 and 2028 (%)
- Y-o-Y Growth Analysis, 2017- 2028
- Segment Trends
- Oral
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Injectable
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
- Introduction
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