Global Compounding Pharmacy Market

Global Compounding Pharmacy Market Size, Share, Growth Analysis, By Product(Medications, Topical medications), By Therapeutic Area(Hormone replacement therapies, Pain medications) - Industry Forecast 2024-2031

Report ID: SQMIG35I2094 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 64 | Figures: 75

Global Compounding Pharmacy Market News

  • In January 2022, Cyclic Olefin Copolymer Syringe (COC) was launched by Nephron Pharmaceuticals Corporation in as part of the operation of Nephron 503B Outsourcing Facility. The company will soon introduce 8.4% Sodium Bicarbonate Injection in a COC syringe. With the help of this strategy, the business will be able to expand its product offering in the market for compounding pharmacies.
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Global Compounding Pharmacy Market size was valued at USD 8.12 billion in 2019 and is poised to grow from USD 8.62 billion in 2023 to USD 14.82 billion by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).

The Global compounding pharmacy market is highly fragmented, with a high level of competition. The prominent players operating in the market such as nature. B. Braun, Athenex Pharma Solutions, Fresenius Kabi, Clinigen Group PLC, Dougherty's Pharmacy, Inc., Lorraine’s Pharmacy, Nephron Pharmaceuticals Corporation To maintain market rivalry, these leading industry firms strategically implement several inorganic growth tactics like mergers and acquisitions. 'B. Braun Melsungen AG', 'Fagron NV', 'PharMEDium Services LLC', 'Fresenius Kabi AG', 'Becton, Dickinson and Company', 'McGuff Compounding Pharmacy Services Inc.', 'Wedgewood Pharmacy', 'Village Compounding Pharmacy', 'Dougherty's Pharmacy, Inc.', 'Institutional Pharmacy Solutions', 'Pencol Compounding Pharmacy', 'Lorraine's Pharmacy', 'Triangle Compounding Pharmacy', 'Custom Med Apothecary', 'The Compounding Center', 'Letco Medical', 'Lee Silsby Compounding Pharmacy', 'Olympia Pharmacy', 'Precision Compounding Pharmacy', 'College Pharmacy'

Increased oral medication use is major opportunities for market expansion.

The market for compounding pharmacies is expected to grow as a result of increased topical formulation research and development. Topical formulations including gels, creams, ointments, and other such products are highly sought-after. Pharmaceutical companies are focusing their efforts on R&D to create ground-breaking topical formulations. These elements are therefore expected to fuel market expansion in the near future.

North America compounding pharmacy market share is expanding at a consistent rate. High disposable income among the people in North America has driven the developments in the healthcare industry due to the affordability to invest in highly advanced medication that meets the targeted medical needs of the people.

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