According to the latest market report published by Persistence Market Research titled ‘Compounding Pharmacies Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025,’ the global compounding pharmacies market is expected to expand at a CAGR of 7.5% during the forecast period 2017-2025. The revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants. The global compounding pharmacies market is projected to expand at a healthy CAGR of 7.5% in terms of value during the forecast period, revised from the previous CAGR of 4.4%, due to factors such as increasing medicinal droughts of prescription medicine across the globe, regarding which Persistence Market Research offers useful insights in detail in this report.
The primary factors driving revenue growth of the global compounding pharmacies market are increasing medicinal droughts of prescription medicine, growing demand for HRT drugs, and increase in demand for topical products – these factors will upsurge the growth of the compounding pharmacies market in the coming years. Increasing restricted formulations and unsafe compounding practices are some of the factors that will restrain the growth of the compounding pharmacies market over the forecast period.
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Segmental Forecast of the Global Compounding Pharmacies Market
The market is segmented based on product type, application type, therapeutic area and region. On the basis of product type the market has been segmented as oral medication, topical medication, mouthwashes and suppositories. By product type, the oral medication segment is expected to remain the largest segment, registering a CAGR of 9.5% in terms of value over the forecast period. The oral medication product type segment is expected to reach a market value of US$ 6,357.7 Mn by 2025 end.
On the basis of application type, the compounding pharmacies market has been segmented as
medication for adults, medication for veterinary, medication for children and medication for geriatric. The medication for adults segment is expected to remain the largest segment, registering a CAGR of 9.0% in terms of value over the forecast period. The medication for adults application type segment is expected to reach a market value of US$ 7,588.7 Mn by 2025 end.
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On the basis of therapeutic area, the compounding pharmacies market has been segmented as pain management and hormone replacement therapy. By therapeutic area, hormone replacement therapy is expected to remain the largest segment, registering a CAGR of 9.9% in terms of value over the forecast period. The hormone replacement therapy segment is expected to reach a market value of US$ 9,380.7 Mn by 2025 end.
On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America dominated the global compounding pharmacies market with maximum value share of the overall market in 2016. The North America compounding pharmacies market is expected to register the highest CAGR of 7.6% over the forecast period to reach a market value of US$ 8,953.3 Mn by 2025 end.
Leading Companies in the Global Compounding Pharmacies Market
Some key players in the global compounding pharmacies market across the value chain are B. Braun Melsungen AG Company, Fagron, PharMEDium Services, LLC, Institutional Pharmacy Solutions, Cantrell Drug Company, Lorraine’s Pharmacy, and Fresenius Kabi AG. The report identifies company specific strategies related to product development, market consolidation initiatives and analysis of companies’ specific strengths, weaknesses, opportunities and threats.
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