Compounding Pharmacy Market to Grow with a CAGR of 6.01% through 2029
Increasing
prevalence of chronic diseases are expected to drive the Global Compounding
Pharmacy Market growth in the forecast period, 2025-2029
According
to TechSci Research report, “Compounding Pharmacy Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”,
the Global Compounding Pharmacy Market stood at USD 12.48 Billion in 2023 and
is anticipated to grow with a CAGR of 6.01% in the forecast period, 2025-2029. Technological advancements in pharmaceutical compounding play a pivotal role in driving the global market forward. The incorporation of state-of-the-art technologies, such as automated compounding systems and software solutions, has revolutionized the compounding process, ensuring heightened accuracy, precision, and efficiency. Automation expedites workflows and reduces the likelihood of errors, resulting in the production of bespoke medications of exceptional quality. Moreover, advancements in analytical techniques and stringent quality control measures have further enhanced the reliability and safety of compounded pharmaceuticals, instilling trust among healthcare practitioners and patients alike.
The aging global population serves as a demographic catalyst for the expansion of the compounding pharmacy market. With the increasing number of elderly individuals comes a rise in age-related health issues and chronic diseases. Older adults often require medications tailored to their unique needs, such as lower dosages or alternative dosage forms. Compounded medications offer a tailored solution to address these specific needs, effectively addressing challenges associated with age-related changes in metabolism and medication tolerance. Consequently, the aging population has emerged as a significant driver of the compounding pharmacy market, fostering a greater appreciation for personalized medicine in geriatric care.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on
"Global Compounding Pharmacy Market”
The Global
Compounding Pharmacy Market is segmented into therapeutic area, route of administration, end
user, regional distribution, and company
In 2023, oral administration emerged as the leading segment in the global compounding pharmacy market, primarily due to its widespread use in administering various medications, such as those for pain management, hormone replacement therapy, and chronic conditions. Compounded oral medications play a vital role in tailoring treatments to individual patient profiles, ensuring optimal therapeutic outcomes, especially for long-term medication management. Compounding pharmacies meet the demand for personalized treatments by offering oral medications customized to specific patient characteristics, providing medications in various strengths, flavors, and dosage forms to adapt to individual patient needs effectively.
In terms of end users, the human segment dominated the global compounding pharmacy market in 2023, reflecting the higher prevalence of health conditions in the human population compared to the veterinary population. Humans experience a diverse range of medical conditions across various therapeutic areas, including chronic diseases, hormonal imbalances, pain management needs, and dermatological issues, all of which may require personalized medication solutions. Compounding pharmacies cater to this diversity by providing customized medications tailored to individual patient profiles.
North America emerged as the leading player in the global compounding pharmacy market in 2023, holding the largest market share. This dominance is attributed to North America's highly developed and advanced healthcare infrastructure, characterized by a robust network of hospitals, clinics, and healthcare facilities that actively utilize compounding pharmacy services. The accessibility and integration of compounding pharmacies into the existing healthcare infrastructure contribute to their prominence in the market. Moreover, the United States, a significant component of the North American market, benefits from a well-established and stringent regulatory framework governing compounding pharmacy practice. Regulatory oversight from authorities such as the U.S. Food and Drug Administration (FDA) and state pharmacy boards ensures the quality, safety, and compliance of compounded medications, instilling confidence among healthcare practitioners and patients and driving the demand for compounding pharmacy services.
Major companies
operating in Global Compounding Pharmacy Market are:
- Wedgewood Pharmacy
- B. Braun Medical Inc.
- Fagron NV
- Fresenius Kabi
- Clinigen Group PLC
- Dougherty's
Pharmacy, Inc.
- Lorraine's Pharmacy
- Rx3 Compounding
Pharmacy
- Institutional
Pharmacy Solutions
- Mcguff compounding
pharmacy services
Download Free Sample Report
Customers can
also request for 10% free customization on this report
“The
Global Compounding Pharmacy Market is poised for robust growth in the coming
years. Anticipated increases in demand for personalized medicine, advancements
in compounding technologies, and a rising awareness of the benefits of tailored
medications contribute to the optimistic outlook. The market's response to the
evolving healthcare needs, such as the aging global population, prevalence of
chronic diseases, and a growing emphasis on patient-centric care, positions
compounding pharmacies as essential players in the pharmaceutical landscape.
Regulatory support and the integration of compounding services into mainstream
healthcare systems further reinforce the growth potential.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Compounding Pharmacy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Therapeutic Area (Pain Management, Hormone Replacement, Dermal Disorders, Nutritional Supplements, Other Therapeutic Areas), By Route of Administration (Oral, Topical, Parenteral, Other Route of Administrations), By End User (Humans, Veterinary) By Region and Competition 2019-2029F”,
has evaluated the future growth potential of Global Compounding Pharmacy Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Compounding Pharmacy Market.
Contact
TechSci
Research LLC
420
Lexington Avenue, Suite 300,
New York,
United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com