Compounding Pharmacy Market
Report ID: SQMIG35I2094
Compounding Pharmacy Market Size, Share, Growth Analysis, By Product(Medications, Topical medications, Suppositories, Mouthwashes), By Therapeutic Area(Hormone replacement therapies, Pain medications, Dermatological applications), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2094 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
64
|Figures:
75
Compounding Pharmacy Market Insights
Global Compounding Pharmacy Market size was valued at USD 8.12 billion in 2019 and is poised to grow from USD 8.62 billion in 2023 to USD 14.82 billion by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).
Over the years ahead, the Compounding Pharmacy Market is expected to be driven by the increasing rate of patent expirations, increased life expectancy, and the growing elderly population. Compounding pharmacy’s major function is to create unique versions of medications that are either not widely accessible or are not produced by commercial pharmaceutical corporations for specific patients with their unique demands. A licensed physician creates these medications at compounding pharmacies after taking the patient's medical requirements into account. Compound pharmacists can put medications into specially flavored liquids, topical creams, transdermal gels, suppositories, or other dosage forms tailored to specific patient needs.
In 2021, the market share of compounding pharmacies was 47% held by the adult population. Nutritional supplements are supplied by compounding pharmacies to help adult customers with their daily activities. Additionally, people are susceptible to a number of chronic disorders that can be early on prevented with compounding products. The rising prevalence of chronic disease brought on by a poor diet and sedentary lifestyle will increase demand for compounded medications and spur market expansion.
US Compounding Pharmacy Market is poised to grow at a sustainable CAGR for the next forecast year.
To get more reports on the above market click here to Buy The Report
Compounding Pharmacy Market Segmental Analysis
Compounding Pharmacy Market is segmented based on the Product, Therapeutic Area, and region. Based on the Product, the Global compounding pharmacy market is segmented as medications, Topical medications, Suppositories, Mouthwashes, and Others. Based On Therapeutic Area, the Global compounding pharmacy market is segmented as Hormone replacement therapies, Pain medications, Dermatological applications, and Others. Based on Region Compounding Pharmacy Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Compounding Pharmacy Market Analysis by Product
Based on the Product, Oral drugs, Topical medications, Suppositories, Mouthwashes, and Others are the different segments of the market. The market share expected to be dominated by topical treatments. The factors can be linked to the growing demand for dermatological applications as well as the expanding market for hormone replacement therapy.
Compounding Pharmacy Market Analysis by Therapeutic Area
Global compounding pharmacy market has been segmented on the basis of Therapeutic area as Hormone replacement therapies, Pain medications, Dermatological applications, and others. Due to their growing use in the treatment of various diseases, such as cancer, and in maintaining the hormonal levels during menopause, hormone replacement therapies are anticipated to exhibit the highest CAGR during the estimated period.
To get detailed analysis on other segments, Request For Free Sample Report
Compounding Pharmacy Market Regional Insights
North America compounding pharmacy market share is expanding at a consistent rate. High disposable income among the people in North America has driven the developments in the healthcare industry due to the affordability to invest in highly advanced medication that meets the targeted medical needs of the people.
The expanding healthcare infrastructure in the Asia Pacific is expected to drive the region's growth at a significant CAGR. The market for compounding pharmacies in the Asia Pacific area will also grow due to an increase in research and development activities aimed at enhancing various healthcare outcomes and obtaining more exact and accurate findings. The rise in the geriatric population and rates of chronic diseases would also put more pressure on the healthcare system and boost the market during the forecast period.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Compounding Pharmacy Market Dynamics
Compounding Pharmacy Market Driver
- Increased oral medication use is major opportunities for market expansion.
The oral market is anticipated to increase at a CAGR of over 6% through 2028, driven by the rising popularity of oral pharmaceuticals including tablets and capsules. Additionally, the majority of disorders can only be effectively treated by taking pharmaceuticals orally, which increases the demand for oral medications.
- Compound pharmaceuticals are increasingly in demand due to the aging population, age-related chronic diseases, and rising health care costs. In order to avoid allergies that may otherwise be brought on by commercially accessible medicine formulations, patients are looking for compounded pharmacies to obtain pharmaceuticals with alternate dosages, customized routes of administration, and alternative ingredients. These elements have helped the market for compounding pharmacies in grow.
Compounding Pharmacy Market Restraint
- The sales potential of compounded pharmaceuticals from complex drug pharmacies is expected to be adversely affected by the rise in the number of prohibited drugs. In this regard, the U.S. FDA announced that, begin in June 2015, it will add four medications to its list of those that are "not allowed to be compounded" in large quantities by outside institutions. These include acetaminophen, aprotinin (Trasylol), ondansetron hydrochloride (Zofran), and bromocriptine mesylate (Tylenol). The demand for common compounded medications like Tylenol might decrease if an order forbidding the compounding of these medicines is issued.
- Lack of trained lab workers and pharmacists in developing markets, high maintenance costs for sterile environments, and potential barriers will to some extent hinder market expansion.
Request Free Customization of this report to help us to meet your business objectives.
Compounding Pharmacy Market Competitive Landscape
The Global compounding pharmacy market is highly fragmented, with a high level of competition. The prominent players operating in the market such as nature. B. Braun, Athenex Pharma Solutions, Fresenius Kabi, Clinigen Group PLC, Dougherty's Pharmacy, Inc., Lorraine’s Pharmacy, Nephron Pharmaceuticals Corporation To maintain market rivalry, these leading industry firms strategically implement several inorganic growth tactics like mergers and acquisitions.
Compounding Pharmacy Market Top Player's Company Profiles
- B. Braun Melsungen AG
- Fagron NV
- PharMEDium Services LLC
- Fresenius Kabi AG
- Becton, Dickinson and Company
- McGuff Compounding Pharmacy Services Inc.
- Wedgewood Pharmacy
- Village Compounding Pharmacy
- Dougherty's Pharmacy, Inc.
- Institutional Pharmacy Solutions
- Pencol Compounding Pharmacy
- Lorraine's Pharmacy
- Triangle Compounding Pharmacy
- Custom Med Apothecary
- The Compounding Center
- Letco Medical
- Lee Silsby Compounding Pharmacy
- Olympia Pharmacy
- Precision Compounding Pharmacy
- College Pharmacy
Compounding Pharmacy Market Recent Developments
- In January 2022, Cyclic Olefin Copolymer Syringe (COC) was launched by Nephron Pharmaceuticals Corporation in as part of the operation of Nephron 503B Outsourcing Facility. The company will soon introduce 8.4% Sodium Bicarbonate Injection in a COC syringe. With the help of this strategy, the business will be able to expand its product offering in the market for compounding pharmacies.
Compounding Pharmacy Key Market Trends
- The market for compounding pharmacies is expected to grow as a result of increased topical formulation research and development. Topical formulations including gels, creams, ointments, and other such products are highly sought-after. Pharmaceutical companies are focusing their efforts on R&D to create ground-breaking topical formulations. These elements are therefore expected to fuel market expansion in the near future.
- Moreover, the market is expanding as a result of the increasing number of FDA approvals for novel medications and commercial partnerships. Sales of compounding pharmacies are anticipated to rise soon as regulatory frameworks in developing nations become more streamlined and effective.
- The use of compounded medication in dermatology is gradually gaining momentum due to the rising occurrence of allergies caused by commercial drugs. These patterns are mainly seen in European nations where the prevalence of many skin-related diseases has dramatically increased over time.
Compounding Pharmacy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global compounding pharmacy market Analysis, Compounding pharmacies provide nutritional supplements to assist adult clients with their regular tasks. People can also develop a number of chronic diseases that compounded products can help to avoid early on. The need for compounded drugs will rise, resulting in market growth, as chronic diseases become more common due to poor diet and inactivity.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.12 billion |
| Market size value in 2031 | USD 14.82 billion |
| Growth Rate | 6.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Compounding Pharmacy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Compounding Pharmacy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Compounding Pharmacy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Compounding Pharmacy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Compounding Pharmacy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Compounding Pharmacy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
