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Compounding Pharmacies Market Size
- Report ID: GMI749
- Published Date: Aug 2022
- Report Format: PDF
Compounding Pharmacies Market Size
Compounding Pharmacies Market size was valued at more than USD 11 billion in 2021. Driven by the rising rate of drug failure and shortages of drugs, the industry is expected to grow at a CAGR of over 5.5% from 2022 to 2030.
Drug discovery & development is a costly and high-risk process that takes a long time. A new proposed drug needs to go through several clinical trials to be finally approved for sale and used for treatment. As per Biotechnology Innovation Organization statistics, about 63% of drugs are successful in the Phase I transition. Phase II has the lowest transition success rate of about 30% owing to failure during clinical trials while Phase III has the second lowest transition success rate of nearly 58%. Even after several efforts by researchers, drugs fail clinical test approvals. High occurrences of drug failure favor the compounding pharmacies industry expansion.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Compounding Pharmacies Market Size in 2021: | USD 11 Billion |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 5.8% |
| 2030 Value Projection: | USD 18.2 Billion |
| Historical Data for: | 2017 to 2021 |
| No. of Pages: | 530 |
| Tables, Charts & Figures: | 963 |
| Segments covered: | Therapeutic Area, Application, Product, Compounding Type, Distribution Channel, Sterility |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Compounding Pharmacies Market Scope
