Global Compounding Pharmacies Market is anticipated to rise at a value CAGR of 6.1% over 2019-2028. According to a study published by Insure Insights on the Global Compounding Pharmacies Market. Compounding refers to the process of combining, mixing, or altering ingredients to create a medication as per the needs of an individual patient. Compounding comprises the combining of two or more drugs and then is dispensed to the patient. Compound Pharmacies are more actively function in Hospital Pharmacies. The rise in the geriatric population has obtained a lucrative market growth owing to the demand for anti-aging compounded drugs.

Top Driver: Technologically developments on Compounding Medications have driven the market

The benefits associated with Compounding Medications and innovative techniques and technological advancements in compounding pharmacies have primarily driven the market. An increase in the incidents where patients do not respond to the traditional treatment and need to customize medicines according to patient’s necessity has increased the demand for Compounding Pharmacies. Compounding Pharmacies have made the making of medication easier to use; medicines are allergy-friendly; these factors have augmented market growth. An increase in the number of dispensed prescriptions around the globe is further surging the demand of the market

The oral medication made the highest segmental growth in the Global Compounding Pharmacies Market

Based on the Product, Oral Medications segment have held the highest segmental growth due as they are the most convenient dosage form and are mostly preferred by the patients. Moreover, oral medication is economical and is relatively cheaper than other forms of medication. The oral route is non-invasive, and the administration of oral routes medications does not require trained personnel. Tablets are the most preferred form of oral medication; these factors have increased the demand for Oral Medication.

In terms of the Therapeutic Use, hormone replacement segment has augmented the segmental growth increase in the hormonal imbalance, especially in the women has mounted the segmental market, it is essential to balance the estrogen and progesterone levels during menopause. Based on the distribution Channels, Hospitals Pharmacies segment have held the most remarkable growth due to the rise in the admission of patients in hospitals

North America to rule the Global Compounding Pharmacies Market

The huge acceptance for compounding medication together favorable reimbursement policies have fostered the regional growth.  The technological advancements for effective compounding medications, well-established healthcare facilities of North America are attributing to surge in the growth of the market. The rise in the number of compounding pharmacies and an increase in the research & development activities have propelled the growth of the compounding pharmacies market. The increase in the prevalence of   chronic disorders and  upsurge in  the geriatric population has proved to be lucrative for the regional market

Strategic Collaborations, Mergers, and Acquisition are the major strategies of the competitors

The Players of the Global Compounding Pharmacies Market is fragmented. Collaborations, Mergers, and acquisitions are strategies used by competitors. The key competitors of the Global Compounding Pharmacies Market are B. Braun, Dougherty’s Pharmacy, Institutional Pharmacy Solutions, Fresenius Kabi, Lorraine’s Pharmacy, Clinigen Group, McGuff Company, Fagron, AmerisourceBergen and Rx3 Pharmacy

1. Braun: B. Braun, is one of the key competitors of the Global Compounding Pharmacies Market; In July 2019, B. Braun had announced the acquisition of business operations of Nephtec GmbH. The acquisition was made by B. Braun to strengthen its product portfolio in the area of the central preparation of dialysis concentrates.

Fagron:  Fagron is a popular competitor in the Global Compounding Pharmacies Market. In April 2018, Fagron had announced the acquisition of Humco; they are a developer, manufacturer and supplier of patented delivery vehicles and branded pharmaceutical product.  The deal was made for USD 47.5 million. The acquisition was made by Fagron to strengthen its strategic position in USA

Scope of the Report

By Product

• Oral
• Topical
• Others

By Therapeutic Use

• Hormone Replacement
• Pain Management
• Dermatology applications
• Specialty drugs

By Distribution Channel

• Hospital pharmacy
• Others

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.