Compounding Pharmacies Market Size By Therapeutic Area (Hormone Replacement, Pain Management, Dermatology Applications, Specialty Drugs, Nutritional Supplements), By Product (Oral {Solid Preparations [Tablets, Capsules, Granules, Powder], Liquid Preparations [Solutions, Suspension, Emulsion, Syrup], Topical [Ointments, Creams, Gels, Pastes], Rectal [Suppositories, Enema], Parenteral [LVP, SVP]}, Nasal, Ophthalmic, Otic), By Application (Pediatric, Adult, Geriatric, Veterinary), By Compounding Type (Pharmaceutical Ingredient Alteration [PIA], Currently Unavailable Pharmaceutical Manufacturing [CUPM], Pharmaceutical Dosage Alteration [PDA]), By Sterility (Sterile, Non-sterile), By Distribution Channel (Hospital Pharmacy, Compounding Pharmacy), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jun 2020  |  Report ID: GMI749  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 348   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry trends

Compounding Pharmacies Market size was estimated over USD 9.5 billion in 2019 and the industry will grow by a CAGR more than 5.8% up to 2026. The traditional and specific role of compounding pharmacies is to make drugs prescribed by specialists or doctors for patients with needs that cannot be catered with the commercially available medications. The compounding pharmacies can address individual’s noncompliance with their medicine by offering dosages, routes of administration and tastes that are not commercially unavailable. Furthermore, the elderly population base has surged the demand for compounded medications for better care that accelerates the overall market expansion.
 

Compounding Pharmacies Market

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Compounding Pharmacies Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 9,805.1 Million (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 5.8% 2026 Value Projection: 14,490.6 Million (USD)
Pages: 348 Tables, Charts & Figures: 499
Geographies covered (29): US, Canada, Germany, UK, Italy, Spain, France, Poland, Ukraine, Greece, Sweden, Norway, Belgium, Czech Republic, Finland, Russia, China, India, Japan, Singapore, Australia, Argentina, Brazil, Mexico, South Africa, UAE, Saudi Arabia, Qatar, Kuwait
Segments covered: Sterility, Product, Compounding Type, Application, Therapeutic Area and Distribution Channel
Companies covered (14): B. Braun Medical, Dougherty's Pharmacy, Fagron, Fresenius Kabi, Institutional Pharmacy Solutions, Clinigen Group PLC, Lorraine’s Pharmacy, McGuff Company, Pencol Compounding Pharmacy, Athenex Pharma Solutions (Athenex Inc.), Rx3 Compounding Pharmacy, Triangle Compounding Pharmacies, Nephron Pharmaceuticals Corporation, Wedgewood Village Pharmacy, Inc.
Growth Drivers:
  • Rising geriatric population and improved life expectancy across the globe
  • Rising adoption of customized medicine in the developed regions
  • Shortage of drugs across the globe
  • Benefits of compounded medication
  • Growing drug failure rate
Pitfalls & Challenges:
  • Lack of skilled lab technicians and pharmacists in developed economies
  • High cost of equipment and maintenance of sterile environment Changing regulatory specifications
  • Volatile regulatory scenario
  • Consumer perception towards compounded drugs

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Benefits associated with compounded medications propel the market growth

Various benefits associated with the compounding pharmacies will have a significant positive impact on the market expansion. Occasionally, patients do not respond to the traditional treatment, therefore, compounding medications are required to be manufactured by compounding pharmacies. Recently, several innovative techniques and technological advancements have allowed compounding pharmacies to customize medicines according to patient’s necessity that eventually enhanced the market growth. Furthermore, different advantages including making medication easier to use, permitting access to obsolete medicines, allowing alternative dosage forms, and making medicines allergy-friendly will propel the market growth. However, lack of skilled lab technicians and pharmacists in developed economies may hinder the compounding pharmacies market growth.
 

Compounding Pharmacies Market Size

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Surging demand for hormone replacement therapy will boost the segment growth

The hormone replacement segment was valued over USD 2.5 billion in 2019, as it uses hormones with same chemical structure as the hormones present in the body. Moreover, increasing need in women to specifically balance the estrogen and progesterone levels during menopause along with surging aliments of hormonal imbalance will fosters the segmental growth.
 

Parenteral segment is anticipated to upsurge the compounding pharmacies market growth

The parenteral segment accounted for more than 18% revenue share in 2019 and is further divided into LVP and SVP. Parenteral administration can be performed by the insertion of an indwelling catheter or by injection. It acts rapidly than topical or enteral administration that enhances the market demand. Surging number of patients with different chronic conditions including cancer and diabetes opt for parenteral administration due to difficulty in swallowing that will augment the market expansion.
 

Compounding Pharmacies Market Share

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Adult segment will dominate the market due to surging number of chronic disorders

The adult segment captured around 5% CAGR and is estimated to showcase a similar growth trend during analysis timeframe. The ability of compounding pharmacies to increase the ease of medication among adults due to difficulty in swallowing will propel the market progression. Moreover, rising incidence of chronic disorders including heart disease and cancer in adults will foster the segmental growth.
 

Increasing drug shortages will augment the overall segmental growth

Currently unavailable pharmaceutical manufacturing (CUPM) segment is estimated to witness over USD 2 billion market value in 2019. Medicine shortages can occur for several reasons such as quality problems & manufacturing, discontinuations as well as delays. Different manufacturers provide FDA drug shortage information to prevent the impact of shortages. Increasing drug shortages coupled with rising demand for specific medication according to patient’s need fosters the compounding pharmacies market growth.
 

Non-sterile segment is anticipated to experience immense growth during the forthcoming years

The non-sterile dosage form is anticipated to witness more than 65% revenue share in 2019 and will have robust growth during the forecast period. Increasing demand for non-sterile medication such as syrups, capsules and pills will further influence the segmental progression. Similarly, rising incidence of chronic pain will increase the demand for pain medication including topical pain relievers and pills manufactured by compounding pharmacies.
 

Compounded drugs have been extensively sold across hospital pharmacies since past few years augmenting industry demand

The hospital pharmacy segment captured more than 5.5% CAGR. Increasing demand for customized medication owing to surging hospital admissions will favour the market progression. Every year, several individuals suffer from chronic conditions requiring proper medication at hospital settings that prove beneficial for the overall market growth.
 

Presence of leading industry players in European region proves beneficial for the market growth

Europe compounding pharmacies market held considerable revenue share in 2019 and will witness around 5% CAGR during the forecast period. Growing acceptance of compounding medication along with favorable reimbursement policies in this region will foster the overall industry progression. In addition, technological advancements will lead to surge in effective compounding medications, thereby fostering the market growth. The presence of leading market companies coupled with well established healthcare facilities will augment the Germany market growth.
 

Strategic initiatives undertaken by key market players have helped them to maintain their financial stability

Some of the prominent market players operating in the compounding pharmacies industry include B. Braun, Dougherty's Pharmacy, Fagron, Institutional Pharmacy Solutions, Fresenius Kabi, Lorraine’s Pharmacy, Clinigen Group, McGuff Company and Athenex Pharma Solutions, among other compounding pharmacies. The market players are undertaking various organic and inorganic growth strategies to garner higher revenue share in compounding pharmacies industry.
 

  • In April 2018, Fagron strategically acquired Humco, a creator of patented vehicles and branded pharmaceuticals. This strategic acquisition has helped the company increase their product portfolio and strengthen their market position in the U.S. market
     
  • In November 2016, Omni cell’s Performance Center and IV Automation Technology collaborated with B. Braun. This collaboration increased the structure interoperability to reduce the clinical support and time needed to manage IV compounding and IV Infusions.

The compounding pharmacies market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

By Therapeutic Area

  • Hormone Replacement
  • Pain Management
  • Dermatology applications
  • Specialty drugs
  • Nutritional supplements
  • Others

By Product

  • Oral
    • Solid preparations
      • Tablets
      • Capsules
      • Granules
      • Powder
      • Others
    • Liquid preparations
      • Solutions
      • Suspension
      • Emulsion
      • Syrup
      • Others
  • Topical
    • Ointments
    • Creams
    • Gels
    • Pastes
    • Others
  • Rectal
    • Suppositories
    • Enema
    • Others
  • Parenteral
    • LVP
    • SVP
  • Nasal
  • Ophthalmic
  • Otic

By Application

  • Children
  • Adult
  • Geriatric
  • Veterinary

By Compounding Type

  • Pharmaceutical Ingredient Alteration (PIA)
  • Currently Unavailable Pharmaceutical Manufacturing (CUPM)
  • Pharmaceutical Dosage Alteration (PDA)
  • Others

By Sterility

  • Sterile dosage form
  • Non-sterile dosage forms

By Distribution Channels

  • Hospital pharmacy
  • Compounding pharmacies
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • France
    • Poland
    • Ukraine
    • Greece
    • Sweden
    • Norway
    • Belgium
    • Czech Republic
    • Finland
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Singapore
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Qatar
    • Kuwait

 

Frequently Asked Questions (FAQ) :

The market size of compounding pharmacies estimated over USD 9.5 billion in 2019.
The industry share of compounding pharmacies is projected to grow at over 5.8% CAGR from 2020 to 2026.
The hormone replacement segment was valued over USD 2.5 billion in 2019, as it uses hormones with same chemical structure as the hormones present in the body.
Europe is expected to witness around 5% CAGR during 2020 to 2026.
The non-sterile dosage form is anticipated to have witnessed more than 65% revenue share in 2019.

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Premium Report Details

  • Published Date: Jun 2020
  • Pages: 348
  • Tables: 479
  • Charts / Figures: 20
  • Companies covered: 14
  • Countries covered: 29

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