The Animal Drug Compounding Market To Witness Discrete Growth

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Animal Drug Compounding Market
Report Id PMRREP12871 Category Life Science
Healthcare
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The Animal Drug Compounding Market To Witness
Discrete Growth

• The coronavirus pandemic is believed to have had
  a negative impact on the animal drug compounding
  market. Due to disruptions in the supply chain,
  there has been significant shortage in the supply
  of APIs. As coronavirus has become the main
  focus, all biotech companies, pharmaceutical
  companies, and research institutes are working in
  collaboration to deal with Covid-19. This is
  resulting in shifting focus and also other
  resources from making other drugs for coronavirus
  vaccines.
• Persistence Market Research predicts that
  the global animal drug compounding market will
  exhibits an impressive 8 CAGR during the
  forecast period (2020-2030).

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Key Takeaways from Animal Drug Compounding Market
Study       
CNS agents are expected to dominate the global
animal drug compounding market, increasing at a
CAGR of around 8. Companion animals are expected
to hold the largest revenue share for animal drug
compounding during the forecast period. Oral
medications is expected to witness significant
growth over the forecast period, owing to
blockbuster drug expiries, growing level of
experimentation in drug repackaging, and creation
of multiple ingredient combination drugs. North
America is the most lucrative region, holding
two-third of the global market share, owing to
expansion by key compounding pharma companies and
rising adoption of specialty pharmacies in the
region. The market expanded at a CAGR of around
5 over the last 5 years, and is projected to
surge even further at 8 through 2030. The U.S.
holds over 85 share of the North American
market, but Canada is projected to expand faster
at around 9.5 CAGR. Germany holds that largest
share of close to one-third of the market in
Europe, and will expand at a CAGR of around 9
through 2030. Growing demand/preference for oral
liquid drugs is expected to aid demand growth of
animal drug compounding, says an analyst of
Persistence Market Research.
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