Compounded medications are prepared by compounding pharmacies to meet the needs of unique patients whose conditions cannot be treated by commercially accessible medications. The process of combining, blending, or changing substances to make a treatment specific to the requirements of a particular patient is known as drug compounding. Combining two or more medications is referred to as compounding. It may be essential to compound a drug for a patient who cannot be treated with an FDA-approved drug, such as one who has a dye allergy and needs a medication to be made without it, or a patient who is elderly or a child who is unable to swallow a tablet or capsule and needs a medication in a liquid dosage form. Hospitals, clinics, and other healthcare facilities' doctors occasionally provide patients compounded pharmaceuticals when an FDA-approved drug is not medically required to treat them.
Sometimes, when an Food and Drug Administration (FDA)-approved medication is not medically necessary to treat a patient, doctors in hospitals, clinics, and other healthcare institutions will give them compounded drugs. A compounding pharmacy is a specific type of pharmacy. They make medications for people who have certain medication needs or requirements.
Market Dynamics
Increasing geriatric population is expected to drive market growth over the forecast period. For instance, according to data published in February 2022, on International Association for the Study of Pain, which is an international learned society promoting research, education, and policies for the understanding, prevention, and treatment of pain, stated that, in 2021, about 50 million elder patients were suffering from chronic pain globally.
Key features of the study:
- This report provides in-depth analysis of the global compounding pharmacies market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global compounding pharmacies market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Avella Specialty Pharmacy, Central Admixture Pharmacy Services, Fagron, Fresenius Kabi AG, PharMEDium Services, Institutional Pharmacy Solutions, Cantrell Drug Company, Triangle Compounding Pharmacies, Lorraine’s Pharmacy, Rx3 Compounding Pharmacy, B Braun Melsungen AG, Clinigen Group PLC, QuVa Pharma, ITC Compounding Pharmacy, and Advanced Pharmacy
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global compounding pharmacies market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global compounding pharmacies market
Detailed Segmentation:
- Global Compounding Pharmacies Market, By Product Type:
- Oral
- Capsule
- Tablets
- Mixtures
- Lollipops
- Lozenges
- Topical
- Gels
- Ointments
- Cream
- Lotions
- Rectal
- Parenteral
- Nasal
- Ophthalmic
- Mouthwashes
- Global Compounding Pharmacies Market, By Therapeutic Area:
- Pain Management
- Hormone Replacement Therapy (HRT)
- Dermatology
- Specialty Drugs
- Global Compounding Pharmacies Market, By Application:
- Pediatric
- Adults
- Geriatric
- Veterinary
- Global Compounding Pharmacies Market, By Region:
- North America
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- Africa
- By Country
- South Africa
- Central Africa
- North Africa
- Company Profiles
- Avella Specialty Pharmacy
- Company Highlights
- Products Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Central Admixture Pharmacy Services
- Fagron
- Fresenius Kabi AG
- PharMEDium Services
- Institutional Pharmacy Solutions
- Cantrell Drug Company
- Triangle Compounding Pharmacies
- Lorraine’s Pharmacy
- Rx3 Compounding Pharmacy
- B Braun Melsungen AG
- Clinigen Group PLC
- QuVa Pharma
- ITC Compounding Pharmacy
- Advanced Pharmacy
“*” marked represents similar segmentation in other categories in the respective section.
