Global Compounding Pharmacy Market Size To Worth USD 29.82 Billion by 2033 | CAGR of 6.52%

Global Compounding Pharmacy Market Size To Worth USD 29.82 Billion By 2033 

According to a research report published by Spherical Insights & Consulting, the Global Compounding Pharmacy Market Size is to Grow from USD 15.85 Billion in 2023 to USD 29.82 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.52% during the projected period.     

Browse key industry insights spread across 278 pages with 110 Market data tables and figures & charts from the report on the "Global Compounding Pharmacy Market Size, Share, and COVID-19 Impact Analysis, By Therapeutic Area (Pain Management, Hormone Replacement, Dermal Disorders, Nutritional Supplements), By Route of Administration (Oral, Topical, Parenteral, and Others), By Distribution Channel (Compounding Pharmacy, Hospital Pharmacy, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/compounding-pharmacy-market

A compounding pharmacy is a pharmacy that is licensed to create tailored medicine from raw pharmaceutical components to meet the specific health needs of the individual. A compounding pharmacy will purchase bulk chemicals and ingredients and convert them into the form that best meets a customer's individual needs. Compounding can also be beneficial for veterinary medications. Many compounding pharmacies use flavors like beef, tuna, chicken, and peanut butter to persuade animals to take their medications. This will help to increase the compounding pharmacy sector. The growing number of senior individuals is a crucial driver of market growth since they are more susceptible to various ailments, creating a greater demand for tailored medicines. This would open up more prospects for expansion in the compound pharmacy sector. However, the existing industry's dearth of experienced pharmacists and lab professionals could be hampering compounding pharmacy market growth.

The pain management category dominates the market over the projection period.

Based on the therapeutic area, the global compounding pharmacy market is divided into pain management, hormone replacement, dermal disorders, and nutritional supplements. Among these, the pain management category dominates the market over the projection period. The pain management sector is one of the most important areas in which compounding pharmacies have seen rapid expansion and demand. Chronic pain is a widespread health concern that affects millions of people worldwide, and its management is crucial for improving people's quality of life.

The oral segment is projected to have the biggest market share during the anticipated timeframe.

Based on the route of administration, the global compounding pharmacy market is divided into oral, topical, parenteral, and others. Among these, the oral segment is projected to have the biggest market share during the anticipated timeframe. Compounded oral medications can be molded to be more appealing, especially for patients who have difficulties swallowing pills or dislike the taste of certain therapies. Flavors can improve patient compliance, especially among children and those with sensory sensitivity.

The hospital pharmacy segment is expected to fuel market growth over the forecast period.

Based on the distribution channel, the global compounding pharmacy market is divided into compounding pharmacy, hospital pharmacy, others. Among these, the hospital pharmacy segment is expected to fuel market growth over the forecast period. Hospital pharmacies regularly see patients who have complex medical issues or require specific therapeutic care. Hospital pharmacy frequently serve juvenile patients who require drugs in forms that are not commonly available in the marketplace or who require flavouring to promote compliance.

North America has the biggest share of the global compounding pharmacy market over the forecast period.

North America has the biggest share of the global compounding pharmacy market over the forecast period. Compounding pharmacies in North America stress patient-centered care, working with healthcare professionals to understand each patient's specific needs and provide tailored medications accordingly. They treat a diverse spectrum of patients, including those with allergies and sensitivities, as well as youngsters, the elderly, and others suffering from rare or severe medical conditions. Additionally, compounding pharmacies in North America must follow strict rules and quality standards to ensure patient safety and efficacy of compounded drugs.

Asia-Pacific is predicted to grow fastest pace throughout the forecast period. The increasing prevalence of chronic diseases and an aging population are driving the region's market expansion. According to an Indian Council for Medical Research report on the 'Burden of malignancies in India,' seven malignancies, including breast, lung, oesophageal, oral, stomach, cervical, and liver, account for more than 40% of the total disease burden.

Major vendors in the global compounding pharmacy market include Fusion Apothecary, Galenic Laboratories, Institutional Pharmacy Solutions, JL Diekman, AQ Touchard, Letco Medical, Olympia Pharmacy, PharMEDium Services, Walgreen, Wedgewood Pharmacy, Albertsons Companies, Apollo Clinical Pharmacy, Aurora Compounding, B. Braun Melsungen, Custom Med Apothecary, Fresenius Kabi, Fagron, and Others.

Recent Developments

• In August 2024, Valley Health System is delighted to expand its pharmaceutical capabilities by establishing a compounding pharmacy. A compounding pharmacy prepares tailored medications depending on the unique medical needs of both humans and animals.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)  

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global compounding pharmacy market based on the below-mentioned segments: 

Global Compounding Pharmacy Market, By Therapeutic Area

• Pain Management
• Hormone Replacement
• Dermal Disorders
• Nutritional Supplements

Global Compounding Pharmacy Market, By Route of Administration

• Oral
• Topical
• Parenteral
• Others

Global Compounding Pharmacy Market, By Distribution Channel

• Compounding Pharmacy
• Hospital Pharmacy
• Others

Global Compounding Pharmacy Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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