Compounding Pharmacy Market Analysis 2022: Topical Medications, Oral Medications, Suppositories – Global Forecast to 2029 – ResearchAndMarkets.com

Compounding Pharmacy Market Analysis 2022: Topical Medications, Oral Medications, Suppositories – Global Forecast to 2029 – ResearchAndMarkets.com




Compounding Pharmacy Market Analysis 2022: Topical Medications, Oral Medications, Suppositories – Global Forecast to 2029 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Compounding Pharmacy Market Analysis by Product (Topical Medications, Oral Medications, Suppositories), by Therapeutic Area (Hormone Replacement Medications, Pain Medications, Dermatological Applications), and by Region – Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.

The global compounding pharmacy market size is estimated to be USD 9.2 billion and is expected to witness a CAGR of 9.45% to 2029.

Rise in global geriatric population and better life expectancy is a key driver for the growth of the global compounding pharmacy market. Additionally, growth in adoption of modified medicine in the developed economies and scarcity of drugs across the globe in the compounding pharmacy market are some of the other drivers propelling the market growth.

Nevertheless, shortage of skilled pharmacists and lab technicians in the developing economies and high cost of equipment and upkeep of disinfected environment are expected to restrain the global market growth.

By Product

Based on product, the market is segmented into topical medications, oral medications, suppositories, and others.

In the oral medications segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to the increase in application of this form of medications such as capsules and tablets for various ailments worldwide.

Topical medications segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the increase in market for hormone replacement therapies and the rise in demand from the dermatological applications.

By Therapeutic Area

Based on therapeutic area, the market is segmented into hormone replacement medications, pain medications, dermatological applications, and others.

In the pain medications segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to the growth in prevalence of chronic pain amongst adults this is due to deskbound lifestyle or trauma owing to accidents worldwide.

Hormone replacement medications segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the increase in number of patients showing positive acceptance for hormone replacement therapy medications.

Regional Insights

In North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the increase in demand for custom-made dosages, inventive therapeutic areas, increase in the share of healthcare expenditure in the per capita income, growth in initiatives from government in the region.

Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the accessibility of technological advanced products, growing government and corporate investment in healthcare sector, increasing travel tourism in the developing economies, and availability of raw material used for manufacturing these medications at economic costs, are the major factors in this region.

Competitor Insights

The leading players operating in the compounding pharmacy industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

Companies Mentioned

  • F Fagron Inc. (U.S.)
  • Triangle Compounding Pharmacy (U.S.)
  • B.Braun Melsungen AG (Germany)
  • PharMEDium Healthcare Holdings Inc. (U.S.)
  • Fresenius Kabi AG (Germany)
  • Avella Specialty Pharmacy (U.S.)
  • Vertisis Custom Pharmacy (U.S.)
  • US Compounding Inc. (U.S.)
  • Belle Sante Diagnostic & Therapeutic Institute Pvt. Ltd. (India)
  • Elixir Compounding Pharmacy (Australia)

Compounding Pharmacy Market, By Product (Revenue, USD Billion, 2021 – 2029)

  • Topical Medications
  • Oral Medications
  • Suppositories
  • Others

Compounding Pharmacy Market, By Therapeutic Area (Revenue, USD Billion, 2021 – 2029)

  • Hormone Replacement Medications
  • Pain Medications
  • Dermatological Applications
  • Others

Compounding Pharmacy Market, By Region (Revenue, USD Billion, 2021 – 2029)

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Russia
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM

Middle East & Africa

  • South Africa
  • Saudi Arabia
  • Rest of MEA

For more information about this report visit https://www.researchandmarkets.com/r/m8517z

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900