Market Overview:
The global compounding pharmacies market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for compounded medications from various end-user segments, such as adults, veterinary purposes, children and geriatric population. In addition, the growing awareness about the benefits of compounded medications is also contributing to the growth of this market. Based on type, oral medications accounted for a major share of the global compounding pharmacies market in 2017. This segment is expected to continue its dominance during the forecast period due to high demand for oral compounded medications from various end-user segments.
Product Definition:
A compounding pharmacy is a specially licensed pharmacy that prepares customized medications for patients. Compounded medications are made specifically for each patient, based on the doctor's instructions. Importance of Compounding Pharmacies: -Many patients cannot take commercially available drugs because they are allergic to one or more of the ingredients, have special dietary restrictions, or require a dosage that is not available in a pre-made medication. -Compounded medications can be used to change the form of a drug (such as making it into a liquid form), to mask unpleasant taste, or to avoid potential interactions with other drugs the patient takes.
Oral Medications:
Oral medications are drugs that are taken in the mouth. They may be administered as tablets, capsules or liquids and can be formulated in combination with other ingredients to produce a specific drug product. The most commonly used oral medications include analgesics (pain relievers), anti-inflammatory drugs, antibiotics, antacid/antimicrobial agents and cough suppressants among others.
Topical Medications:
Topical medications are drugs applied to the skin. Topical drugs can be used for various conditions such as warts, skin tags, moles, lesions and other growths that are not cancerous but want to remain and may cause discomfort or pain.
Application Insights:
The adult application segment accounted for the largest revenue share in 2016 and is anticipated to witness significant growth over the forecast period. The increasing geriatric population across the globe is expected to be a major factor driving this segment. According to data published by United Nations, it has been estimated that there are approximately 47 million people aged 65 years or above in Europe. In addition, as per Eurostat¢â‚¬â„¢s demographic statistics, it has been reported that every 10th European was aged 60 years or more in 2016, which is expected to boost demand from compounding pharmacies over the forecast period.
The pediatric application segment also accounted for a substantial revenue share and is projectededto grow at a lucrative rate during the study period owing to rising incidences of diseases such as chickenpox among children below 5 years of age which requires medication on an ongoing basis.
Regional Analysis:
North America dominated the global market in 2017. The presence of sophisticated healthcare infrastructure, high patient awareness levels coupled with relatively higher healthcare spending in this region are some of the factors responsible for its large share. Moreover, increasing demand for compounded medication from patients suffering from chronic diseases is expected to drive growth during the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to rising disposable income and improving economic conditions especially in emerging countries such as China and India which are majorly contributing towards market growth.
The Middle East & Africa (MEA) region accounted for a small revenue share owing to low per capita health expenditure.
Growth Factors:
- Increasing demand for compounded medications: The increasing demand for compounded medications is one of the key growth drivers for the compounding pharmacies market. This is because of the benefits offered by compounded medications over conventional drugs.
- Rising prevalence of chronic diseases: The rising prevalence of chronic diseases, such as diabetes and cancer, is also fueling the growth of the compounding pharmacies market. This is because patients with chronic diseases often require customized medication regimens, which can be provided only by compounding pharmacies.
- Growing number of prescriptions being filled through mail-order and online pharmacies: The growing number of prescriptions being filled through mail-order and online pharmacies is another major driver for the compounding pharmacies market. This is because many patients find it more convenient to order their medications from these channels rather than visiting a physical pharmacy store location.
Scope Of The Report
Report Attributes
Report Details
Report Title
Compounding Pharmacies Market Research Report
By Type
Oral Medications, Topical Medications, Mouthwashes, Suppositories
By Application
Medications for Adults, Medication for Veterinary Purposes, Medications for Children, Medications for the Geriatric Population
By Companies
PharMEDium, Institutional Pharmacy Solutions, Cantrell Drug Company, Triangle
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Compounding Pharmacies Market Report Segments:
The global Compounding Pharmacies market is segmented on the basis of:
Types
Oral Medications, Topical Medications, Mouthwashes, Suppositories
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Medications for Adults, Medication for Veterinary Purposes, Medications for Children, Medications for the Geriatric Population
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- PharMEDium
- Institutional Pharmacy Solutions
- Cantrell Drug Company
- Triangle
Highlights of The Compounding Pharmacies Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Oral Medications
- Topical Medications
- Mouthwashes
- Suppositories
- By Application:
- Medications for Adults
- Medication for Veterinary Purposes
- Medications for Children
- Medications for the Geriatric Population
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Compounding Pharmacies Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Compounding pharmacies are pharmacies that custom mix medications for their patients. This means that the pharmacy will create a medication specifically for the patient, rather than using a pre-made medication.
Some of the major companies in the compounding pharmacies market are PharMEDium, Institutional Pharmacy Solutions, Cantrell Drug Company, Triangle.
The compounding pharmacies market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Compounding Pharmacies Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Compounding Pharmacies Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Compounding Pharmacies Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Compounding Pharmacies Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Compounding Pharmacies Market Size & Forecast, 2020-2028
4.5.1 Compounding Pharmacies Market Size and Y-o-Y Growth
4.5.2 Compounding Pharmacies Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Oral Medications
5.2.2 Topical Medications
5.2.3 Mouthwashes
5.2.4 Suppositories
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Medications for Adults
6.2.2 Medication for Veterinary Purposes
6.2.3 Medications for Children
6.2.4 Medications for the Geriatric Population
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Compounding Pharmacies Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Compounding Pharmacies Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Oral Medications
9.6.2 Topical Medications
9.6.3 Mouthwashes
9.6.4 Suppositories
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Medications for Adults
9.10.2 Medication for Veterinary Purposes
9.10.3 Medications for Children
9.10.4 Medications for the Geriatric Population
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Oral Medications
10.6.2 Topical Medications
10.6.3 Mouthwashes
10.6.4 Suppositories
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Medications for Adults
10.10.2 Medication for Veterinary Purposes
10.10.3 Medications for Children
10.10.4 Medications for the Geriatric Population
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Oral Medications
11.6.2 Topical Medications
11.6.3 Mouthwashes
11.6.4 Suppositories
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Medications for Adults
11.10.2 Medication for Veterinary Purposes
11.10.3 Medications for Children
11.10.4 Medications for the Geriatric Population
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Oral Medications
12.6.2 Topical Medications
12.6.3 Mouthwashes
12.6.4 Suppositories
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Medications for Adults
12.10.2 Medication for Veterinary Purposes
12.10.3 Medications for Children
12.10.4 Medications for the Geriatric Population
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Oral Medications
13.6.2 Topical Medications
13.6.3 Mouthwashes
13.6.4 Suppositories
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Medications for Adults
13.10.2 Medication for Veterinary Purposes
13.10.3 Medications for Children
13.10.4 Medications for the Geriatric Population
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Compounding Pharmacies Market: Competitive Dashboard
14.2 Global Compounding Pharmacies Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 PharMEDium
14.3.2 Institutional Pharmacy Solutions
14.3.3 Cantrell Drug Company
14.3.4 Triangle
