Dublin, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The "Compounding Pharmacies Market Size, Share & Trends Analysis Report By Therapeutic Area (Specialty Drugs, Dermatology), By Age Cohort (Pediatric, Adult), By Compounding Type (PIA, PDA), By Sterility, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global compounding pharmacies market size is expected to reach USD 18.6 billion by 2030. It is projected to register a CAGR of 5.11%
The market's growth can be attributed to the growing importance of medication adherence and increasing supportive government policies.
For instance, in November 2022, the U. S. Food & Drug Administration conducted its 11th intergovernmental meeting to discuss compounding oversight, and efforts to support the Compounding Quality Act (CQA) implementation.
Furthermore, the increasing demand for personalized medicine is driving the growth of the market. Compounding pharmacies specialize in creating customized medications based on the unique needs of individual patients.
Children and older adults often require medications in unique strengths or alternative dosage forms due to their specific age-related needs. Compounding pharmacies can tailor medications to meet the specific requirements of these populations, such as formulating liquid suspensions for easier administration or adjusting dosages based on body weight.
The COVID-19 pandemic slightly impacted the market in the initial phase. The market recovered at the start of 2021 as patients suffering from chronic diseases could not acquire their medications due to government lockdowns in various nations and the closure of pharmacy stores in some nations.
Several compounding pharmacies began offering a simple and secure method for consumers to deposit their compound prescriptions online and receive medicine at their door, which, in turn, increased the demand during the pandemic.
Compounding Pharmacies Market Report Highlights
- Based on the therapeutic area, the pain management segment held the largest revenue share in 2022 owing to its tailored approaches to address the adverse effects of commercially available pain management medications
- Based on the age cohort, the adult segment dominated the market with the largest revenue share in 2022 due to factors, such as specific dosage strengths, allergies or sensitivities to certain ingredients, or preferences for alternative dosage forms
- Based on the compounding type, the pharmaceutical ingredient alteration (PIA) segment dominated the market. This can be attributed to the high demand for customized drugs from patients with special needs
- The sterile segment dominated the market with the largest revenue share in 2022 owing to the high demand for intravenous sterile preparations of different dosage forms from pediatric and geriatric patients
- The North America region held the largest revenue share in 2022 due to the presence of a large number of pharmacies offering compounding services and increasing support from authorities, such as the FDA
Competitive Landscape
- Walgreens Co.
- JL Diekman and AQ Touchard (Fresh Therapeutics Compounding Pharmacy)
- Fagron.
- Albertsons Companies
- The London Specialist Pharmacy Ltd (Specialist Pharmacy)
- Galenic Laboratories Limited (Roseway Labs)
- Aurora Compounding
- MEDS Pharmacy
- Apollo Clinical Pharmacy
- Formul8
- Fusion Apothecary
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 168 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $12.5 Billion |
| Forecasted Market Value (USD) by 2030 | $18.6 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Dynamics
3.1.1. Market Driver Analysis
3.1.1.1. Increasing supportive government policies
3.1.1.2. Increasing demand for personalized medications
3.1.1.3. Growing importance of pharmaceutical compounding in promoting medication adherence
3.1.2. Market Restraint Analysis
3.1.2.1. Risk of Chemical Contamination
3.1.2.2. Chances of human errors or medication errors
3.2. Industry Analysis Tools
3.2.1. Porter's Five Forces Analysis
3.2.2. PESTLE Analysis
3.3. COVID-19 Impact Analysis
Chapter 4. Compounding Pharmacies Market: Therapeutic Area Estimates & Trend Analysis
4.1. Segment Definitions
4.2. Compounding Pharmacies Market: Segment Dashboard
4.3. Compounding Pharmacies Market: Therapeutic Area Movement & Market Share Analysis
4.4. Hormone Replacement Therapy
4.5. Pain Management
4.6. Dermatology
4.7. Specialty Drugs
4.8. Nutritional Supplements
Chapter 5. Compounding Pharmacies Market: Age Cohort Estimates & Trend Analysis
5.1. Segment Definitions
5.2. Compounding Pharmacies Market: Segment Dashboard
5.3. Compounding Pharmacies Market: Age Cohort Movement & Market Share Analysis
5.4. Pediatric
5.5. Adult
5.6. Geriatric
Chapter 6. Compounding Pharmacies Market: Compounding Type Estimates & Trend Analysis
6.1. Segment Definitions
6.2. Compounding Pharmacies Market: Segment Dashboard
6.3. Compounding Pharmacies Market: Compounding type Movement & Market share Analysis
6.4. Pharmaceutical Ingredient Alteration (PIA)
6.5. Currently Unavailable Pharmaceutical Manufacturing (CUPM)
6.6. Pharmaceutical Dosage Alteration (PDA)
Chapter 7. Compounding Pharmacies Market: Sterility Estimates & Trend Analysis
7.1. Segment Definitions
7.2. Compounding Pharmacies Market: Segment Dashboard
7.3. Compounding Pharmacies Market: Sterility Movement & Market Share Analysis
7.4. Sterility
7.5. Non-Sterility
Chapter 8. Compounding Pharmacies Market: Regional Estimates & Trend Analysis
8.1. Compounding Pharmacies Market: Regional Movement Analysis, 2022 & 2030
For more information about this report visit https://www.researchandmarkets.com/r/bd8o87
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