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Compounding Pharmacies Market – By Product (Oral, Parenteral, Topical, Ophthalmic, Nasal, Rectal, Otic) Therapeutic Area (Pain Management, Hormone Replacement), Application, Compounding Type, Sterility, Distribution Channel, Global Forecast 2024 – 2032
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Compounding Pharmacies Market
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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 771
Countries covered: 28
Pages: 252
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Compounding Pharmacies Market Size
Compounding Pharmacies Market size was valued at USD 12.4 billion in 2023 and is anticipated to witness growth at a CAGR of 5.6% between 2024 and 2032. One major driver is the increasing demand for personalized medications, which cater to specific patient needs that are unmet by commercially available drugs. This trend is particularly notable in the treatment of chronic diseases, pediatric, geriatric, and veterinary medicine, where customized dosages and formulations are crucial.
Additionally, advancements in pharmaceutical compounding technologies and practices have enhanced the safety, efficacy, and accessibility of compounded medications. Regulatory support and guidelines promoting safe compounding practices also contribute to market growth. Furthermore, the shortage of certain medications and drug recalls have underscored the importance of compounding pharmacies in ensuring continuous patient care. Rising healthcare costs and the shift towards cost-effective treatment options further boost the demand for compounded drugs.
Compounding pharmacies are specialized pharmacies that create customized medications tailored to the specific needs of individual patients. Unlike standard pharmacies that dispense mass-produced drugs, compounding pharmacies mix ingredients to formulate medications that are not commercially available or to alter existing medications to meet unique patient requirements. This can include adjusting dosage strengths, flavoring medications for palatability, excluding non-essential ingredients that cause allergies, or providing alternative forms of medications such as creams, gels, or liquids for patients who have difficulty swallowing pills.
Compounding Pharmacies Market Trends
Compounding Pharmacies Market Analysis
Based on product, the market is segmented into oral, parenteral, topical, ophthalmic, nasal, rectal, and otic. The oral segment is further categorized into solid preparations and liquid preparations. The oral segment dominated the market in 2023 and accounted for USD 4.2 billion.
Based on therapeutic area, the compounding pharmacies market is segmented into pain management, hormone replacement, dermatology applications, specialty drugs, nutritional supplements, and other therapeutic areas. The pain management segment held a market share of 33.3% in 2023.
Based on application, the compounding pharmacies market is segmented into adult, geriatric, veterinary, and pediatric. The adult segment dominated the market in 2023 and is anticipated to grow at a CAGR of 5.9% between 2024 - 2032.
Based on compounding type, the compounding pharmacies market is segmented into Pharmaceutical Ingredient Alteration (PIA), Currently Unavailable Pharmaceutical Manufacturing (CUPM), Pharmaceutical Dosage Alteration (PDA), and other compounding types. The Pharmaceutical Ingredient Alteration (PIA) segment dominated the market in 2023 and is anticipated to reach USD 7.4 billion by 2032.
Based on sterility, the compounding pharmacies market is segmented into sterile dosage form and non-sterile dosage form. The non-sterile dosage form segment dominated the market in 2023 and is anticipated to grow at a CAGR of 5.4% between 2024 -2032.
Based on distribution channel, the compounding pharmacies market is segmented into hospital pharmacies, compounding pharmacies, and other distribution channels. The hospital pharmacies dominated the market in 2023 and is anticipated to witness considerable growth over the forecast years.
North America compounding pharmacies market was valued at USD 6.8 billion in 2023 and is anticipated to reach USD 11 billion by 2032.
The U.S. compounding pharmacies market is anticipated to grow at a CAGR of 5.3% between 2024 - 2032.
Asia Pacific region will exhibit high growth over the forecast period.
Germany is anticipated to witness robust growth in the global compounding pharmacies market.
Compounding Pharmacies Market Share
The competitive landscape in the compounding pharmacies industry is characterized by a mix of large-scale, well-established players and smaller, independent pharmacies. Major companies such as B. Braun Melsungen AG and Fagron NV are prominent due to their extensive product offerings, advanced compounding technologies, and strong distribution networks. These key players invest heavily in research and development to innovate and comply with stringent regulatory standards, ensuring high-quality, customized medications. Smaller compounding pharmacies, while fewer in resources, compete by offering personalized services and niche products tailored to specific patient needs. The market is further intensified by strategic mergers, acquisitions, and partnerships aimed at expanding geographic reach and enhancing technological capabilities.
Compounding Pharmacies Market Companies
Prominent players operating in the compounding pharmacies industry include:
Compounding Pharmacies Industry News:
The compounding pharmacies market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 - 2032 for the following segments:
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Market, By Product
Market, By Therapeutic Area
Market, By Application
Market, By Compounding Type
Market, By Sterility
Market, By Distribution Channel
The above information is provided for the following regions and countries: