Veterinary Pharmaceutical Compounding Overview

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Submitted By larry4069
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Veterinary Pharmaceutical Compounding Overview

Let’s start off with a little background information to set the stage. The pet industry has grown continuously since 1994 despite changes in the economy. Putting things in perspective, this industry is the second highest-growth industry after consumer electronics. In 2009, the value of the U.S. market for pet care was estimated at $46 billion. This is expected to increase to $56.5 billion by the end of 2014, for a compound annual growth rate (CAGR) of 4.2%. See the table below for a breakdown of the segments, within the pet care market, which would be of interest to a pharmacy setting.

When looking at the table, notice the percent change in CAGR for the Other Pet Supplies. This change is phenomenal and mainly due to the increased usage of OTC medications. Human OTC medications that are approved for usage by companion animals are Imodium, Pepto-Bismol (use in dogs only), Benadryl, Aspirin (use in dogs only), Dramamine, Tagamet, Pecid-AC, Zantac, Hydrocortisone, Gas-X, Glucosamine, antibiotic ointments, antibacterial soap, hydrogen peroxide, and saline nasal sprays. Veterinary OTC medications include the best-selling and most popular flea and tick preparations (Frontline, Advantage, Bio Spot) and pet health supplements. Under the segment of Veterinary Care is where compounding can be found. In 2010, veterinary compounded product sales reached $300 million.

Demographics of pet owners
According to the 2011-2012 American Pet Products Association (APPA) National Pet Owners Survey, 62% of U.S. households own at least one pet, this equates to 72.9 million homes with pets. Of these households, 36% have only one pet, 25% have two, 13% have three, 7% have four, 6% have five, and 13% have six or more.

Of the pet owners, 54% have a post-graduate education, 66% have at least a high school degree, 67% of gays…...

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