Global Compounding Pharmacy Market Insights Forecasts to 2033

• The Global Compounding Pharmacy Market Size was Valued at USD 15.85 Billion in 2023
• The Market Size is Growing at a CAGR of 6.52% from 2023 to 2033
• The Worldwide Compounding Pharmacy Size is Expected to Reach USD 29.82 Billion by 2033
• Asia-Pacific is expected to Grow the fastest during the forecast period.

The Global Compounding Pharmacy Market Size is Anticipated to Exceed USD 29.82 Billion by 2033, Growing at a CAGR of 6.52% from 2023 to 2033.

Market Overview:

A compounding pharmacy is referred to as a pharmacy that is licensed to make personalized medicine from raw pharmaceutical ingredients for the specific health needs of individuals. A compounding pharmacy will buy bulk chemicals and ingredients and convert them into a form that best suits a customer's specific requirements. Veterinary medication can also benefit from compounding. Many compounding pharmacists incorporate flavors such as beef, tuna, chicken, and peanut butter that can help to encourage animals to take their medicine. This will support the growth of the compounding pharmacy market.

The increased number of senior citizens is a key factor for market growth as they are further prone to various diseases which is a rising need for personalized medicines. This will lead to increased opportunities for growth in the compound pharmacy market. The Food and Drug Administration will be ensuring access to lawfully marketed compounded medications for patients who require them. Such an initiative is expected to boost the growth of the compounding pharmacy market.

Report Coverage:

This research report categorizes the market for the global compounding pharmacy market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global compounding pharmacy market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global compounding pharmacy market.

Driving Factors:

Compounding pharmacies play an important role in developing individualized pain treatment formulations by providing solutions that address specific patient demands such as customized dosage forms, innovative analgesic combinations, and alternate administration modalities. Furthermore, the growing frequency of chronic pain among adults and the rising senior population worldwide with higher susceptibility to chronic pain is expected to drive the growth of the compounding pharmacy market.

Restraining Factors:

Compounding pharmacies require a perfectly sterile atmosphere and highly skilled specialists or pharmacists. The current industry's shortage of skilled pharmacists and lab personnel could hinder compounding pharmacy market expansion.

Market Segmentation:

The global compounding pharmacy market share is classified into therapeutic area, route of administration, and distribution channel.

• The pain management segment has the highest share of the market during the forecast period.

Based on the therapeutic area, the global compounding pharmacy market is categorized into pain management, hormone replacement, dermal disorders, and nutritional supplements. Among these, the pain management segment has the highest share of the market during the forecast period. The pain management market is one of the most important areas where compounding pharmacies have experienced tremendous growth and demand. Chronic pain is a common health problem that affects millions of people worldwide, and controlling it correctly is critical for improving people's standards of life.

• The oral segment is expected to have the largest share of the market over the estimated period.

Based on the route of administration, the global compounding pharmacy market is categorized into oral, topical, parenteral, and others. Among these, the oral segment is expected to have the largest share of the market over the estimated period. Compounded oral drugs can be shaped to make them more appealing, particularly for patients who have difficulty swallowing pills or dislike the flavor of specific treatments. Flavors can increase patient compliance, particularly for children and those with sensory sensitivity.

• The hospital pharmacy segment is projected to drive the growth of the market throughout the forecast period.

Based on the distribution channel, the global compounding pharmacy market is categorized into compounding pharmacy, hospital pharmacy, and others. Among these, the hospital pharmacy segment is projected to drive the growth of the market throughout the forecast period. Hospital pharmacies frequently see patients with complex medical conditions or special therapeutic needs. Hospital pharmacies routinely serve juvenile patients who require drugs in forms that are not readily accessible in commerce or require flavoring to increase compliance.

Regional Segment Analysis of the Global Compounding Pharmacy Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is projected to hold the largest share of the global compounding pharmacy market over the forecast period.

North America is projected to hold the largest share of the global compounding pharmacy market over the forecast period. Compounding pharmacies in North America prioritize patient-centered treatment, collaborating with healthcare experts to understand each patient's unique needs and manufacture personalized drugs appropriately. They serve a wide range of patients, including those with allergies, and sensitivities, children, the elderly, and people with unique or severe medical disorders. Furthermore, compounding pharmacies in North America must adhere to stringent laws and quality requirements to assure patient safety and efficacy of compounded pharmaceuticals.

Asia-Pacific region is expected to fastest CAGR growth during the forecast period. The region's market expansion is being driven by the rising frequency of chronic diseases and a growing elderly population. According to an Indian Council for Medical Research on the 'Burden of Cancers in India,' seven cancers, including breast, lung, esophagus, mouth, stomach, cervical, and liver, account for more than 40% of the total disease burden.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global compounding pharmacy market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies:

• 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
• Others

Key Market Developments:

• In August 2024, Valley Health System is excited to enhance its pharmaceutical capabilities with the establishment of a compounding pharmacy. A compounding pharmacy creates personalized prescriptions based on the individual medicinal needs of both humans and animals.

• In July 2024, Revelation Pharma, a national network of 503A and 503B compounding pharmacies dedicated to providing "industry best" patient care and solutions, announced the acquisition of Taylors Pharmacy, a thriving nationwide independent pharmacy based in Florida and licensed in over 41 states, as well as Washington-based Key Compounding Pharmacy, a Federal Way staple.

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