Global Compounding Pharmacies Market: Analysis By Product Type (Oral, Topical, Ophthalmic, Injectables, Others), By Therapeutic Area (Hormone Replacement, Pain Management, Dermatology, Others), End User (Adult, Pediatric, Geriatric, Veterinary), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) - By Region (North America, Europe, APAC, ROW), By Country (US, Canada, UK, Germany, China, Japan, India, Brazil, Mexico)

" The compounding pharmacy market in 2021 is estimated to exceed ~USD 12 billion, and the compound annual growth rate from 2022 to 2030 is expected to be approximately 6%. The aging of the population is intensifying, and the advancement and improvement of life expectancy create huge opportunities for market growth.

In addition, the growing global drug failure rate and a large number of drug shortages will drive the demand for compound pharmacies. In addition, increasing awareness of the benefits of compound drugs has led to more adoption of such personalized drugs, which will drive market development. 

On the other hand, factors such as the lack of well-trained laboratory technicians and pharmacists in developing countries, the high cost of maintaining a sterile environment, and fluctuations in the regulatory environment will hinder market growth to a certain extent. Customize individual patient healthcare providers’ prescription drugs to meet their specific needs, which are not easily available or manufactured by commercial pharmaceutical companies. After taking into account the health needs of patients, such drugs are manufactured in compound facilities by licensed doctors.

 

THE INCREASER IN THE ELDERLY POPULATION WITH INCREASED LIFE EXPECTANCY WILL AFFECTS THE EXPANSION OF THE COMPOUND PHARMACY MARKET: 

the increase in the elderly population and the increase in life expectancy will become the main factors driving market value. According to data from the Population Reference Office, it is estimated that the elderly population in the United States will reach about 24% of the total population by 2060. The increase in the elderly population is due to a decline in fertility and an increase in life expectancy. The affordable expenses of pharmacy members have proven to be conducive to the overall business growth within the expected time period. The growing tendency for personalized medicines and the growing demand for looking younger and younger have led to an increase in global demand for anti-aging products. In addition, the emergence of various therapies, such as composite bio-homogeneous hormone replacement therapy for women, testosterone therapy for men, and high-quality dermatology products, are all conducive to market revenue.

 

INCREASING DEMAND FOR PAIN MANAGEMENT DRUGS WILL DRIVE INDUSTRY GROWTH: 

the pain management portion of the compound pharmacy market will account for more than ~USD 3.9 billion in 2020. Pain management or pain control is a branch of medicine that widely uses interdisciplinary methods to improve the quality of a person suffering from chronic pain. Compound pharmacists can work with healthcare providers to develop tailored treatment plans for pain management. Due to the sedentary lifestyle or trauma caused by accidents, the incidence of chronic pain in adults is increasing, which will drive the demand for pain management drugs. 

THE INCREASE IN THE USE OF ORAL DRUGS WILL PROVIDE IMPORTANT EXPANSION OPPORTUNITIES: 

By 2027, the oral sector is expected to show a growth rate of more than 7%, mainly due to the increasing number of oral drugs, such as capsules and tablets. In addition, the treatment of most diseases requires oral medication as an effective treatment, which stimulates the demand for oral medication.

 

SEDENTARY AND UNHEALTHY LIFESTYLE WILL CREATE A HUGE DEMAND FOR ADULT DRUGS: 

In 2020, the adult segment will account for 45% of the compound pharmacy market share. Compound pharmacies provide nutritional supplements to help adult consumers with daily activities. In addition, adults will be exposed to a variety of chronic diseases, and these diseases can be prevented by using compound products at an early stage. The increasing burden of chronic diseases due to a sedentary lifestyle and unhealthy diet will drive the demand for compound drugs, thereby driving market growth. The increase in the incidence of drug allergies in patients will create profitable growth opportunities for the Pharmaceutical Composition Change (PIA) segment-due to the joint production of hypoallergenic commercial drugs by pharmacies, the PIA segment will exceed USD 4 billion in 2021. Changes in the composition of medicines include compound medicines for people who are allergic to certain ingredients present in commercial medicines. In addition, multiple drugs can be combined in a single dose to increase convenience. 

 

THE LARGE SCALE USE OF NON STERILE DRUGS WILL AFFECT THE DEMAND OF THE COMPOUND PHARMACY MARKET : 

The non-sterile part is expected to reach a compound annual growth rate of ~6% by 2030. A clean environment, but not a 100% sterile environment, because the intake route is oral. Massive use of non-sterile oral drugs may drive the growth of this market segment.

 

MORE AND MORE PARTICIPANTS IN THE DEVELOPMENT OF NEW PRODUCTS AND MARKET DEMAND IS INCREASING: 

Some well-known companies operating in the market include B. Braun, Athenex Pharma Solutions (Athenex Inc.), Fresenius Kabi, Clinigen Group PLC, Dougherty's Pharmacy, Inc., Fagron, Lorraine;s Pharmacy, Institutional Pharmacy Solutions, McGuff Company Inc. (McGuff Compounding Pharmacy Services), Nephron Pharmaceuticals Corporation, Rx3 Compounding Pharmacy and Wedgewood Village Pharmacy, Inc., etc. These industry leaders are adopting various organic and inorganic growth strategies to gain greater market share in the market. 

 

SOME RECENT INDUSTRY DEVELOPMENTS: 

In April 2020, the FDA approved the new production line of Nephron Pharmaceuticals Corporation. This development has significantly increased revenue and allowed the company to meet the growing compound demand for drugs. In May 2020, Wedgewood Pharmacy announced the acquisition of ZooPharm, a veterinary drug compound pharmacy. This strategy strengthens the company's product portfolio and enables them to obtain a greater share of industry revenue. The compound pharmacy market research report includes in-depth reports on the industry, and estimates and forecasts the following market segments based on USD revenue from 2022-2030: Market, by treatment field, 2022-2030 (millions of dollars) Hormones alternative pain management

 

DermatologySpecialty drugsNutritional supplementsOthersMarket by product, 2016-2027 (US $ million) OralSolid preparations Tablets Capsules Granules Powder Others Liquid preparations Solutions Suspension Emulsion Syrup Others Topical Ointments Creams Gels Pastes Others Rectal Suppositories Enema OthersParenteralSmall volume parenteral (SVP) solutionsLarge volume parenteral (LVP) solutions Nasal Ophthalmic Otic Market, by application, 2022-2030 (US $ million) PaediatricAdultGeriatricVeterinaryMarket , Composition type, 2022-2030 (millions of dollars) Change in pharmaceutical composition (PIA) Drugs that cannot be produced currently (CUPM) Change in drug dosage (PDA) Other markets, by sterility,2022-2030(millions of dollars ) Aseptic non-sterile market, by distribution channel,2022-2030 (US$ million) Hospital pharmacy compound pharmacy Other. "
 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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