Compounding Pharmacies Market

Compounding Pharmacies Market

Compounding Pharmacies Market to Reach US$ 20.8 bn by 2032, driven by the increase in prevalence of chronic disease, increase in old age population and improved life expectancy: Global Insight Services

New York, February 2022: According to a new research study by Global Insight Services (GIS), the global Compounding Pharmacies Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 20.8 bn by 2032.

An Compounding Pharmacies is a type of financial institution that provides loans and other forms of financing to individuals and businesses. These platforms typically use online platforms and peer-to-peer lending models to connect borrowers with lenders. Alternative lending platforms typically have lower borrowing costs and faster funding timelines than traditional banks.

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Compounding Pharmacies Market: Key Trends and Drivers

Shortage of different drugs including lifesaving drugs and other cancer medicines will boost the demand from compounding pharmacies. Some of the major factors responsible for shortages are quality and manufacturing issues. Moreover, disruption of supply chains due to the COVID-19 pandemic has also resulted in delays in the process. The postponement in raw materials supply leads to a delay in manufacturing process. This ultimately affected the supply of medication leading to its shortage. Limited capability of raw material suppliers along with long lead times and complexity of manufacturing process increases drug shortages. Drug shortages can lead to delayed or cancelled patient care and can adversely affect healthcare system revenues. Additionally, shortage of lifesaving drugs along with the unavailability of alternatives could lead to death of the patient. Therefore, capability of compounding pharmacies to critically fill the crucial gap will fuel the market expansion.

Compounding Pharmacies Market: Restraints & Challenges

The key restraints and challenges in the Compounding Pharmacies market include the stringent regulations, the need for a large amount of capital, and the lack of awareness among small businesses. The stringent regulations are the primary restraint for the growth of the Compounding Pharmacies market..

Compounding Pharmacies Market Report Findings

The Parenteral segment is anticipated to hold a majority of the Compounding Pharmacies Market size throughout the study period.

Based on the product, the Compounding Pharmacies market is divided into Oral, Topical, Rectal, Parenteral, Opthalmic, Nasel, and Otic. Compounding pharmacies market from parenteral segment was valued at more than USD 2 billion in 2021. Factors such as rapid absorption, faster action of the drugs, control over the dose & rate of drug administration, better bioavailability, first-pass metabolism avoidance, and reliable dosage make parenteral administration the preferred option over other routes of drug administration in emergency situations, including anaphylactic shock and cardiac arrest, as it has more predictable pharmacokinetic and pharmaco-dynamic outcomes.

The Hormone Replacement segment is anticipated to hold a majority of the Compounding Pharmacies Market size throughout the study period.

Based on the therapeutic area, the Compounding Pharmacies market is divided into Nutritional Supplements, Hormone Replacement, Dermatology, Pain Management, and Specialty Drugs. Compounding Pharmacies Market from hormone replacement segment was worth more than USD 3 billion in 2021. The surging demand for regenerative medicines for reproductive cycle boosting, thyroid hormone therapy, growth hormone replacement therapy, and anti-aging therapies, such as menopause hormone replacement, is driven by their high effectiveness, comparatively safe profile, and cost efficiency, which will positively impact the overall market.

The veterinary application segment is likely to hold a dominant Compounding Pharmacies Market share and grow at a substantial CAGR during the forecast period.

By application, the industry is bifurcated into Pediatric, Geriatric, Veterinary, and Adult. Compounding pharmacies market size from the veterinary application segment valued at over USD xx billion in 2022. Veterinarians prescribe a range of drugs from antibiotics to parasite preventatives and anti-seizure medications depending on the requirements. When none of the commercially available drugs are suitable to cater to the treatment needs of the furry patient, veterinarians opt for compounded medications to meet the specific treatment requirements. Additionally, the growing presence of veterinary clinics and increased pet adoption rates globally will fuel the segment progress.

The pharmaceutical dosage alteration (PDA) segment is anticipated to hold a majority of the Compounding Pharmacies Market size throughout the study period.

Based on, the Compounding Type is categorized into Pharmaceutical Dosage Alteration [PDA], Currently Unavailable Pharmaceutical Manufacturing [CUPM], Pharmaceutical Ingredient Alteration [PIA], and Others. The pharmaceutical dosage alteration (PDA) segment held around xx% of the market share in 2022. This segment comprises of compounding of drugs with altered dosage forms specific to the patient’s need. The alteration can be made in the drug form such as solid or liquid or it can also be in the dose. The increasing need for altered medication will boost the segment expansion.

The Hospital Pharmacy segment is anticipated to hold a majority of the Compounding Pharmacies Market size throughout the study period.

Based on distribution channel, the Compounding Pharmacies market is divided into Compounding Pharmacy, Hospital Pharmacy, and Others. The hospital pharmacy segment dominated more than 52% of the compounding pharmacies market share in 2022. The market is expanding gradually, especially owing to favorable regulatory scenarios in major economies. Thus, to take the advantage of lucrative opportunities, several hospitals are entering into the market to provide compounded medications through hospital pharmacies..

The Europe region is estimated to exhibit the highest growth rate during the Compounding Pharmacies Market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Europe compounding pharmacies market is projected to exhibit a CAGR of more than xx% over the analysis timeframe. The region may emerge as a major revenue hub owing to rising awareness regarding compounded medications, shortage of certain commercially available drugs, and the need for customized individual-focused treatments. The availability of advanced infrastructure and several government initiatives toward the development of compounding pharmacies are some other factors that will favor regional market value.

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Competitive Landscape

Market players are focusing on strategic collaborations to enhance their product offerings. Some prominent participants in the global Compounding Pharmacies market include Fagron, B. Braun, Nephron Pharmaceuticals Corporation, Fresenius Kabi, Athenex Pharma Solutions (Athenex Inc.), Dougherty’s Pharmacy, Inc., Clinigen Group PLC, Pencol Compounding Pharmacy, Lorraine’s Pharmacy, McGuff Company Inc. (McGuff Compounding Pharmacy Services), Institutional Pharmacy Solutions, Rx3 Compounding Pharmacy, Wedgewood Village Pharmacy, Inc., and Triangle Compounding Pharmacies. among others.

Recent Developments in the Compounding Pharmacies Market:

  • In July 2022 Fagron acquired from Fresenius Kabi a 503B outsourcing facility in Boston. Fagron expanded its United States sterile coumpounding footprint.
  • In March 2022 Fresenius Kabi acquired major stake in mAbxience which significantly enhances Fresenius Kabi’s presence in high-growth biopharmaceuticals market.

Compounding Pharmacies Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Compounding Pharmacies Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future Compounding Pharmacies Market potential from 2022 to 2032 in terms of revenue.
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Compounding Pharmacies Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global surface disinfectants industry.

Global Compounding Pharmacies Market Segmentation

By Product

  • Oral
  • Topical
  • Rectal
  • Parenteral
  • Opthalmic
  • Nasel
  • Otic

By Therapeutic Area

  • Nutritional Supplements
  • Hormone Replacement
  • Dermatology
  • Pain Management
  • Specialty Drugs
  • Others

By Application

  • Pediatric
  • Geriatric
  • Veterinary
  • Adult

By Compounding Type

  • Pharmaceutical Dosage Alteration [PDA]
  • Currently Unavailable Pharmaceutical Manufacturing [CUPM]
  • Pharmaceutical Ingredient Alteration [PIA]
  • Others

By Distribution Channel

  • Compounding Pharmacy
  • Hospital Pharmacy
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players

  • Fagron
  • B. Braun
  • Nephron Pharmaceuticals Corporation
  • Fresenius Kabi
  • Athenex Pharma Solutions (Athenex Inc.),
  • Dougherty’s Pharmacy, Inc.
  •  Clinigen Group PLC
  • Pencol Compounding Pharmacy,
  •  Lorraine’s Pharmacy
  • McGuff Company Inc