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Compounding Pharmacies Market 2020 By Regional Trend & Growth Forecast To 2026

Author : Ronak Bora | Published Date : 2020-09-02 

The compounding pharmacies market is expected to gain considerable momentum owing to myriad drug requirements among people who are highly susceptible to allergic reactions.

Studies cite that the commercially manufactured drug preparations are not appropriate for everyone’s use considering that any previous existence of ailments in people can develop allergic reactions. This particular standpoint creates the need for compounding pharmacies that provide customized pharmaceutical solutions suited to individual requirements.

The increase use of compounded medications over these years has prompted, governments across the globe to formulate their own policies for regulating the production of compounded drug preparations. For instance, the U.S. Congress has reportedly enacted the Drug Quality and Security Act (DQSA) owing to the 2012 fungal meningitis outbreak and several such events causing deaths due to the poor compounded drug quality. DQSA has made important amendments to the Federal Food Drug and Cosmetic (FD&C) Act with sections 503A and 503B dealing with stringent guidelines about advertising and outsourcing of compounded drugs in the country.

As per the latest research conducted by GMI, compounding pharmacies market is estimated to surpass the USD 14 billion mark by 2026.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/749

With respect to therapeutic area, dermatology applications accounted for an impressive industry share of 18% in 2019. Dermatology compounding medications are consumed by patients allergic to commercial drugs. Likewise, the products can be prepared without using specific ingredients additives, and preservatives on the basis of the patient needs, thereby propelling the segment outlook.

The compounded topical medication product segment accounted for about $1.5 billion in 2019. These products are applied over mucous membranes or skin, which allows the medicine to enter the bloodstream from the skin.

Basically, topical dosage form of commercial drugs is usually needed for people that have difficulty swallowing pills and tablets. Increasing demand for aesthetic medicines and rising cases of skin diseases are likely to instigate the segment share through 2026.

North America compounding pharmacies market is expected to witness significant growth, primarily led by the U.S. In fact, U.S. compounding pharmacies market witnessed a 5.5% CAGR and is slated to register significant growth through the forecast timeframe.

Regional market players are increasingly focusing on adopting advanced technologies for large scale production. In addition, many compounding pharmacies are actively upgrading their technology to completely automate compounding systems to boost their efficacy and productivity, which is fostering industry growth.

The competitive landscape of the global compounding pharmacies market is inclusive of players like Wedgewood Village Pharmacy, McGuff Company, Nephron Pharmaceuticals Corporation, Dougherty’s Pharmacy, Triangle Compounding Pharmacies, Lorraine’s Pharmacy, Athenex Pharma Solutions, Pencol Compounding Pharmacy, Clinigen Group, Institutional Pharmacy Solutions, Rx3 Compounding Pharmacy, Frensius Kabi, Fagron, and B. Braun Medical among others. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/compounding-pharmacies-market

Partial Chapter of the Table of Content 

Chapter 6. Compounding Pharmacies Market, By Application

6.1. Key segment trends

6.2. Paediatric

6.2.1. Paediatric compounding pharmacies market, by region, 2015 - 2026, (USD Million)

6.3. Adult

6.3.1. Adult compounding pharmacies market, by region 2015 - 2026, (USD Million)

6.4. Geriatric

6.4.1. Geriatric compounding pharmacies market, by region 2015 - 2026, (USD Million)

6.5. Veterinary

6.5.1. Veterinary compounding pharmacies market, by region 2015 - 2026, (USD Million)

Chapter 7. Compounding Pharmacies Market, By Compounding Type

7.1. Key segment trends

7.2. Pharmaceutical Ingredient Alteration (PIA)

7.2.1.    Pharmaceutical ingredient alteration (PIA) market, by region, 2015 - 2026, (USD Million)

7.3. Currently Unavailable Pharmaceutical Manufacturing (CUPM)

7.3.1.    Currently unavailable pharmaceutical manufacturing (CUPM) market, by region, 2015 - 2026, (USD Million)

7.4. Pharmaceutical Dosage Alteration (PDA)

7.4.1.    Pharmaceutical dosage alteration (PDA) market, by region, 2015 - 2026, (USD Million)

7.5. Others

7.5.1.    Others market, by region, 2015 - 2026, (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia 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 sport. [email protected] | https://twitter.com/RonakBora26

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