Compounding Pharmacy Market Key Players PharMEDium Services, B. Braun Group, Wedgewood Pharmacy, New Compounding Pharma, Medisca, Fresenius Kabi, Advanced Pharma

Luton, Bedfordshire, United Kingdom, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Compounding Pharmacy Market

The global Compounding Pharmacy Market is expected to reach USD 7.47 Billion by 2029, growing at an estimated CAGR of 8.4% over the forecast period.

The science of combining and preparing personalized medicines for patients is known as compounding. These medications are prepared in accordance with the practitioner's prescription, with the individual ingredients mixed together in the recommended dosage form and strength.

Compounding pharmacies create pharmaceuticals that doctors prescribe for certain patients who have needs that aren't satisfied by commercially available drugs on the market. Compounded medications are made up of two or more drug ingredients in varying quantities, i.e. mixing or changing the active pharmaceutical ingredients of drugs to fulfil a specific patient's unmet medical need.

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In the coming years, the rising rate of patent expirations, improved life expectancy, and the growing elderly population are expected to drive the Compounding Pharmacy Market. Pharmaceutical shortages in the United States, as reported by the US FDA, as well as comparable shortages around the world, as well as various benefits provided by compounding drugs, such as customisation based on the needs of the patients, all contribute to the market's growth.

Pharmaceutical research and development in novel mediums/forms and doses for the treatment of various disorders is likely to provide market participants with profitable development opportunities. Manufacturers will benefit from the growing popularity of animal drug compounding and veterinary drug compounding, particularly in North America and Europe.

Recent Developments:

In July 2022 Fagron acquired from Fresenius Kabi a 503B outsourcing facility in Boston. Fagron expanded its United States sterile coumpounding footprint.

In March 2022 Fresenius Kabi acquired major stake in mAbxience which significantly enhances Fresenius Kabi's presence in high-growth biopharmaceuticals market.

May 2021, Slade Health, part of Icon Group entered into a long-term agreement with Auckland District Health Board (ADHB) to provide sterile compounding services to meet the growing needs of cancer patients. This agreement would build and operate a world-class, GMP (Medsafe) licensed sterile compounding facility delivering chemotherapy, antibiotics, analgesics, and nutritional infusions for public and private hospitals across New Zealand.

In April 2020, FDA approved the new production line of Nephron Pharmaceuticals Corporation. This development significantly boosted the revenues and enabled the company to cater to the growing compounded medication demand.

Report Scope

Compounding Pharmacy Market Players

Compounding pharmacies use collaborations and acquisitions to differentiate themselves from the competition. These strategies allow players to pool their resources to ensure that their companies have a long-term future in the industry. The major players operating in the global Compounding Pharmacies industry include Guangzhou Pharma, Zand, Tsumura, Nature’s Answer, Madaus, Herbal Africa, Nature Herbs, Haiyao, JZJT, Potter’s, Sanjiu, Tongrentang, Bio-Botanica, Weleda, Arizona Natural, Yunnan Baiyao, Taiji, Blackmores, TASLY, SIDO MUNCUL, Schwabe, Kunming Pharma, Arkopharma, Dabur, Zhongxin, Imperial Ginseng.

Regional Analysis:

The United States is expected to account for 76.5% of North America's value share in 2021. The emergence of new compounding pharmacies to meet the growing need for specialized care and hard drugs, the increasing number of compounding pharmacies in the region, and favorable government policies are all driving up demand for compounding pharmacies in the United States.

By 2031, the United Kingdom is expected to hold nearly 35.2% of the European market. The increase in demand for compounding pharmacies in the country is primarily due to the increased acceptance of compounded drugs, rising lifestyle disorders such as obesity, diabetes, and others, drug shortages, and the unavailability of standard drug products.

Throughout the forecast period, the China market is expected to account for approximately 6.7% of the CAGR in Asia Pacific.

Domestic market impact factors and regulatory changes that affect current and future market trends are also included in China.

Furthermore, the growing prevalence of chronic diseases and the demand for personalized medicine are driving demand for compounding pharmacies.

Impact of COVID-19

With the unprecedented COVID-19crisis, the diagnostics industry found itself on the front lines of dealing with a global medical emergency that not only crippled economies around the world but also put enormous strain on healthcare facilities worldwide. The unexpectedly high demand for testing kits has pushed industry players into uncharted territory, where their strengths are constantly tested.

Closed transnational borders, lengthy customs procedures, congested distribution channels, and limited raw material supplies add to the already existing challenges.

The market is expected to experience short-term negative growth as a result of a sharp decrease in demand for compounding pharmacy-based medical products as physician visits and hospitalization rates decline.

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Key Segments of Implantable Cardiac Monitors Market

Compounding Pharmacy Market by Type, 2019-2028, (In USD Million)

• PIA

• PAA

• CUPM

• PDA

• SAPM
  
  

Compounding Pharmacy Market by Application, 2019-2028, (In USD Million)

• Consumers Aged 18 and Younger

• Consumers Aged 19 to 44

• Consumers Aged 45 to 64

• Consumers Aged 65 and Older

• Consumers Aged 18 and Younger

• Consumers Aged 19 to 44

• Consumers Aged 45 to 64

• Consumers Aged 65 and Older
  
  

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