Compounding Pharmacies Market 2022-2031
New Study Reports “ Compounding Pharmacies Market 2022 Global Market Opportunities, Challenges, Strategies and Forecasts 2031″ has been Added on PMR.
The Compounding Pharmacies Market is expected to grow step-wise in the next 10 years. Video-calling has penetrated the healthcare vertical, resulting in effective long-distance monitoring. Virtual doctor visits are followed by superlative telemedicine, which results in cost-effectiveness as well as various options to choose from (regarding medical practitioners). This would be how the healthcare vertical go in the upcoming period.
As per Persistence Market Research’s latest revised industry analysis, the global compounding pharmacies market is expected to witness high growth from US$ 8.9 Bn in 2020 to around US$ 21.3 Bn by 2031. This reflects a CAGR of around 8.3% over the forecast period (2021-2031).
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Increasing number of patients visiting physicians to seek medical attention for chronic conditions and high need for prescription medications are resulting in an expanding global market for compounding pharmacies. Compounded pharmacists provide customized medications to patients who cannot acquire outcomes from taking commercially accessible pharmaceuticals. Demand for customized hormone replacement therapies have increased in the recent past as people have become more conscious about important health functions such as breast and bone health, erectile longevity, osteoporosis, mood swings, hot flashes, acute levels of depression, etc.
The report has profiled some of the important players prevalent in the global like – Fagron, Fresenius Kabi AG, PharMEDium Services, LLC,, Institutional Pharmacy Solutions, Cantrell Drug Company, Lorraine’s Pharmacy, B. Braun Melsungen AG Company and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Compounding Pharmacies Market.
Accordingly, dosage requirements for specific customized solutions driven demand for hormones such as progesterone after hysterectomy, testosterone replacement, infertility curing hormones, etc. These therapies are expensive and in high demand, owing to rapid growth of lifestyle-related diseases in the young population due to lifestyle changes and increasing stress levels.
Key players are focusing on strengthening their position by collaborating with local manufacturers and acquisitions to enhance their sales. Moreover, companies are targeting North America, Asia Pacific, and Europe through the adoption of research & development and partnerships in the market.
- In November 2020, B. Braun Melsungen AG and Grifols formed a strategic partnership to enhance compounding pharmacy production output and services for hospitals. Grifols is a leading producer of plasma-derived medicines and has compounding centres across the U.S.
- In February 2016, PharMEDium Services, LLC announced a sole source agreement with Premier, Inc. to provide a wide range of services used for pain management, operating room anaesthesia, intensive care, nerve block, and labour and delivery.
Such developments not only strengthen a company’s existing portfolio but also help increase its presence at regional as well as global levels.
Key Takeaways from Market Study
- By product, oral medication is set to hold a high share of 43.5% in 2021, expanding at 9.6% CAGR during the forecast period.
- By application, medication for adults will hold a high share of 53.3% in 2021, expanding at 9.5% CAGR during the forecast period.
- In terms of therapeutic area, hormone replacement therapy accounts for 63.5% market share in 2021.
- By region, North America held the largest share of 66.3% in 2021, due to emergence of new compounding pharmacies in North America to meet growing need for specialized care and hard drugs.
“Rising medicinal droughts in required medication levels across the world, increasing cost of branded prescription equivalents, and inadequate accessibility to drugs are expected to drive demand for compounding pharmacies,” says an analyst of Persistence Market Research.
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Compounding Pharmacies Market Manufacturers
Compounding Pharmacies Market Distributors/Traders/Wholesalers
Compounding Pharmacies Market Subcomponent Manufacturers
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Key Questions Answered in the Compounding Pharmacies Market Report
How is the Compounding Pharmacies Market expected to grow over the projected period?
What direction is the Compounding Pharmacies Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Compounding Pharmacies Market in future?
What are the key market drivers in the Compounding Pharmacies Market?
What are significant opportunities and improvement areas for Compounding Pharmacies Market manufacturers?
What are the key developments and trends taking over the Compounding Pharmacies Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Compounding Pharmacies Market?
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