The
medical industry report “Compounding
Pharmacies Market
Size By Product (Oral, Topical, Rectal, Parenteral, Inhaler, Ophthalmic), By
Application (Paediatric, Adult, Geriatric, Veterinary), By Therapeutic Area
(Hormone Replacement, Pain Management), Industry Analysis Report, Regional
Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Russia, Poland,
Greece, Ukraine, Sweden, Norway, Belgium, Czech Republic, Finland, China,
India, Japan, Singapore, Australia, Brazil, Mexico, Saudi Arabia, UAE, South
Africa, Qatar, Kuwait), Application Potential, Price Trends, Competitive Market
Share & Forecast, 2017 – 2024”, by Global Market Insights, Inc. says Compounding
Pharmacies Market will hold a valuation of more than USD 12 billion by 2024,
with an estimated CAGR of 5% over 2017-2024.
In
an era of consequential transformation in the healthcare delivery, compounding
pharmacies market is charting a profitable growth curve. Although a major chunk
of pharmacists are involved in drug manufacturing, yet with the advancement of
technology compounding has become an integral of pharmacy practice. The
expanding geriatric population base along with increasing customized medication
requirements subject to alternative doses, flavor, formulations are stimulating
the market dynamics. In addition to this, the recent trend toward personalized
diagnostic approach is expected to complement the business landscape in the
years ahead. With the increasing drug shortage issues and drug failure rates in
recent times, compounding pharmacies are anticipated to be the best alternative
to address the growing drug demand.
The remarkable expansion of
compounding pharmacies market is quite evident from its diversified product
landscape which includes oral, rectal, inhaler, ophthalmic, topical, and
parenteral. Oral medications procured the largest portion of the market share in
2015, and the trend is likely to continue in the years ahead.
Growing individual
preference toward consuming medicines in the form of tablets, capsules have
significantly propelled the market demand from this domain. Other than oral
route, parenteral medications will also witness lucrative growth over
2017-2024, subject to the benefits associated with its compounding
preparations. These intramuscular injections result in quick action to the body
due to its localized drug application method.
Browse key
industry insights spread across 192 pages with 150 market data tables & 14
figures & charts from this 2017 report Compounding
Pharmacies Market in detail along with the table of contents at:
The
prevalence of cardiovascular diseases has significantly risen among the adult
population, which is likely to drive compounding pharmacies market. Sedentary
lifestyles along with heavy consumption of fat-rich foods have led to a rise of
these cardiac diseases, which in a way is stimulating the necessity of
compounded medications. As per estimates, this sector accounted for the maximum
industry share in 2016, and considering these aforementioned grounds, the trend
is likely to continue in the years ahead. Pertaining to the increasing natality
rates along with incapability of the commercial medicines to meet up with the
customized pediatric formulation requirements, pediatric application will also
register considerable revenue for compounding pharmacies market by 2024.
Speaking of
technology, Japan compounding pharmacies market is highly influenced by the
incorporation of hi-tech compounding processes. Adoption of automation in
pharmacy compounding, presence of elderly population, and implementation of
high-tech compounding devices in pharmaceutical sector can be together given
the credit for the expansion of the regional market.
U.S. being
one of the most progressive nations w.r.t healthcare infrastructure accounted
for the largest compounding pharmacies industry share in 2016. Subject to the
increasing drug deficiency in the country coupled with spreading consumer
awareness about compounding medications, U.S. market is anticipated to witness
a strong position in the global industry by 2024.
Compounding
pharmacies market is characterized by some of the restraints such as lack of
skilled lab personnel, excessive cost of the process, and issues related to its
safety standards. To combat these threats, key market players are undertaking
various collaborations to sustain their business position in the global
industry. Some of the companies engaged in compounding pharmacies market include
B. Braun Medical, PharMEDium, Fresenius Kabi, Village Compounding Pharmacy, and
Cantrell Drug Company.
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Singapore, Mexico, Brazil, South Africa, UAE, Qatar, Saudi Arabia), Application
Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
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