Published on : Sep 26, 2019
Albany, New York, September 26, 2019: Animal drug compounding enables licensed medical veterinarians to produce drugs with varied dosage as per requirement. The process involves application of drug infested gel on fur and paws of animals, followed by licking.
The spectrum of therapeutic requirement in animal medicine is huge with limited availability of FDA approved drug products. Flavored animal drug compounding has gained attention as it increases the palatability, thereby ensuring adherence to the treatment. Metronidazole drug compounding with tuna/sardine flavor enhances its taste and probability of complete ingestion of the applied drug.
Minimal adverse report
Lack of substitutes for branded veterinary drugs and non-reimbursement of the incurred expenses force the pet owners to resort to animal drug compounding. Medical conditions such as inflammation in central nervous system, seizers, improper limb coordination, blindness and behavioral changes in various animals including cats and dogs are majorly addressed by animal drug compounding pharmacies.
Boards pertaining to animal drug compounding pharmacies across the U.S and FDA’s adverse drug event reporting systems have failed to report significant usage and adverse effect of animal drug compounding, contributing to demand and growth of animal drug compounding market.
According to a report, animal drug compounding market in U.S. is expected to reach ?US $ 1Bn by end of 2019 and ?US$2Bn by end of 2029. These insights are according to the intelligence report, titled, “US Market Study on Animal Drug Compounding: ‘Flavored’ Products to Grab Spotlight,” which has been freshly added to Market Research Hub’s (MRH) over-arching repository.
FDA approval mandatory
Non-compliance with GMP regulations and compounding contaminations are the primary factors restraining animal drug compounding. Contaminated environment in sterile compounding products such as intravenous solutions and injectable drugs pose health hazards that include pathogen and fungal infections and adversely affect the animal drug compounding market.
Major steps such as adherence to FDA norms and surprise inspection help the authorities to keep a check on animal drug compounding pharmacies. All outsourcing facilities manufacturing drugs in bulk have been directed to get inspected and attain cGMP certification.
Major stakeholders profiled in animal drug compounding market include Vertisis Custom Pharmacy, Sixth Avenue Medical Pharmacy, Smith Caldwell Drug Store, Triangle Compounding Pharmacy Inc., Medisca Inc. and Millers Pharmacy.
Animal drug Compounding: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Animal drug Compounding. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Animal drug Compounding. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on animal drug Compounding.
An insightful and deep-dive assessment of the competitive assessment of the Animal drug Compounding pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Animal drug Compounding. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Animal drug Compounding: Research Methodology
Primary sources and secondary sources propel intelligence report on Animal drug Compounding that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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