Global Compounding Pharmacies Market Research Report 2021 Overview, Territorial Outlook, Technology, Demand and Estimate 2027
Category: #business  By Ronak Bora  Date: 2021-08-04
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Global Compounding Pharmacies Market Research Report 2021 Overview, Territorial Outlook, Technology, Demand and Estimate 2027

The global compounding pharmacies market is set to depict commendable gains over the ensuing years, owing to the shortage of various drugs comprising lifesaving drugs and cancer medications.

Some of the prominent reasons responsible for shortages comprise manufacturing and quality issues. The disruption of supply chains amid the SARS-CoV-2 pandemic has led to delays in the process. In addition, numerous industry participants are focusing on the adoption of collaborative strategies for the enhancement of product portfolios.

Citing an instance, in April 2021, Partners Group completed its acquisition of a majority equity share in Wedgewood Pharmacy, the Unites States’ largest compounding pharmacy dedicated to animal health. The signing of a deal for the purchase was earlier announced in December 2020. Such advancements are slated to augment industry demand through the estimated period.

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On this note, the compounding pharmacies market size is anticipated to exceed USD 15 billion by 2027, states the latest research by Global Market Insights, Inc.

The industry growth is attributed to an increase in the geriatric population with enhanced life expectancy at the global level.

The pediatric segment is expected to depict a substantial CAGR of nearly 6.5% over 2021-2027. In the compounding pharmacy industry, pediatric refers to a child who has difficulty in swallowing capsules or tablets.

Various compounding pharmacists work on the development of medications that are easier for children by adding flavors and making them taste better. The segment expansion is driven by the escalating adoption of compounded medicines amongst children.

The dermatology segment is expected to witness a remarkable CAGR of around 6% during the analysis period. The segment involves the treatment of all ailments associated with skin. These medications comprise oral capsules and tablets as well as topical medications such as solutions, creams, gels, and others.

The increasing awareness associated with dermatological treatment in developing countries is likely to foster market expansion through the coming years.

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The PDA segment accounted for nearly 18% of the total market revenue in 2020 and is expected to witness remarkable growth through the forthcoming years. The segment comprises the compounding of drugs with altered forms of dosage that are specific to the requirements of the patient.

The modification can be made in the dosage as well as in the form of drugs comprising liquid or solid. The escalating requirement for altered medication will bolster segment growth over the forecasted period.

The Asia Pacific compounding pharmacies industry held a valuation of over USD 1.7 billion in 2020. This upsurge is ascribed to the rapid growth of compounded pharmacies across the region.

Rising investments in the development of healthcare infrastructure and the soaring adoption of customized medications will boost regional growth through 2027.

Partial Chapter of the Table of Content:

Chapter 2.  Executive Summary

2.1. Compounding pharmacies industry 3600 synopsis, 2016 – 2027

2.1.1.  Business trends

2.1.2.  Therapeutic area trends

2.1.3.  Product trends

2.1.4.  Application trends

2.1.5.  Compounding type trends

2.1.6.  Sterility trends

2.1.7.  Distribution channel trends

2.1.8.  Regional trends

Chapter 3.  Compounding Pharmacies Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2016 - 2027

3.3. Industry ecosystem analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/compounding-pharmacies-market

 

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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