Compounding Pharmacies Market size to cross $18bn by 2030

Compounding Pharmacies Market size is estimated to reach USD 18 billion by 2030, according to a new research report by Global Market Insights Inc.
 

The report identifies the benefits of compounded medication and shortages of drugs worldwide as the chief compounding pharmacies industry drivers. As per the University of Utah Drug Information Services, the U.S. reported 129 drug shortages in 2020. Similarly, according to FDA's Center for Biologics Evaluation and Research (CBER) and FDA's Center for Drug Evaluation and Research (CDER) the number of new drug shortages tracked was 41 in 2021.
 

Diverse product benefits to increase parenteral industry share

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.
 

Browse key industry insights spread across 530 pages with 939 market data tables & 24 figures & charts from the report, “Compounding Pharmacies Market Analysis, By Therapeutic Area (Nutritional Supplements, Hormone Replacement, Dermatology, Pain Management, Specialty Drugs), By Product (Liquid Preparations [Solutions, Emulsion, Suspension, Syrup], Oral {Solid Preparations [Tablets, Granules, Capsules, Powder]}, Topical {Ointments, Gels, Creams, Pastes}, Parenteral {LVP, SVP}, Rectal {Enema, Suppositories }, Nasal, Otic, Ophthalmic,), By Application (Pediatric, Geriatric, Adult, Veterinary), By Compounding Type (Pharmaceutical Dosage Alteration [PDA], Currently Unavailable Pharmaceutical Manufacturing [CUPM], Pharmaceutical Ingredient Alteration [PIA]), By Sterility (Non-sterile, Sterile), By Distribution Channel (Compounding Pharmacy, Hospital Pharmacy) Regional Outlook, Covid-19 Impact Analysis, Industry Analysis Report, Price Trends, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/compounding-pharmacies-market
 

Promising results of regenerative medicines to push hormone replacement segment expansion

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.
 

Non-sterile market segment to benefit from multiplicity of dosage forms

Non-sterile segment held a 69.4% market share in 2021 and is set to register 5.4% CAGR through 2030. The non-sterile dosage form involves medicines that are taken orally, such as pills and liquids, or topical application forms, such as creams, ointments, etc., that are rubbed onto the skin. The rising demand for such dosage forms will boost the industry share.
 

Ability to address specific treatment needs to augment veterinary use of compounded drugs

Compounding pharmacies market size from the veterinary application segment valued at over USD 1.5 billion in 2021. 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.
 

Europe emerges as a prominent revenue pocket for industry growth

The Europe compounding pharmacies market is projected to exhibit a CAGR of more than 5% 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.
 

Product innovation to remain a key growth strategy

Some leading compounding pharmacies market players profiled in the report 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.
 

The strategic landscape of the market is anticipated to witness a series of acquisitions and product range expansion efforts by industry players. For instance, in August 2020, Wedgewood Pharmacy acquired Wildlife Pharmaceuticals and its subsidiary ZooPharm. This strategic acquisition was purposed to enhance the company’s product portfolio and provide opportunities for business growth.
 

In December 2021, ImprimisRx and EyePoint Pharmaceuticals, Inc. announced the expansion of their commercial alliance and the U.S. sales and marketing activities for DEXYCU, an innovative FDA-approved injectable steroid. This partnership focused on building customer demand for DEXYCU, thereby widening the company’s product portfolio.