Compounding Pharmacies Market Dynamics, Forecast, Analysis and Supply Demand 2020 – 2026
Category: #health  By Rahul Varpe  Date: 2020-06-30
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Compounding Pharmacies Market Dynamics, Forecast, Analysis and Supply Demand 2020 – 2026

The compounding pharmacies market is projected to record a remunerative growth rate over the coming years owing to the growing demand for customized medicine and drugs among patients to help treat a plethora of different ailments. A compounding pharmacy generally makes customized drugs and medications which are not available commercially or over the counter. These pharmacies can formulate alternative forms of drugs, drug doses, sugar-free drugs, etc.

The compounding pharmacies market is bifurcated in terms of therapeutic area, product, application, compounding type, sterility, and distribution channels.

Based on therapeutic area, the compounding pharmacies market is classified into nutritional supplements, specialty drugs, dermatology applications, pain management, hormone replacement, and others.

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The nutritional supplements segment accounted for a market value of more than $580 million in 2019. Nutritional supplements are dietary supplement that is intended to provide nutrients. The examples include proteins, minerals, amino acids, vitamins, and other nutritional substances. These products are generally taken in the form of tablet, capsule or in liquid form.

With respect to product, the compounding pharmacies market is categorized into otic, ophthalmic, nasal, parenteral, rectal, topical, and oral. The nasal product segment accounted for around 8% market share in 2019. Nasal administration is a route of administration wherein drugs are insufflated through the nose.

Nasal delivery helps in addressing problems which are related to drug degradation, adverse events in the gastrointestinal tract, slow absorption, poor bioavailability, it also avoids the first-pass metabolism in the liver.

In terms of application, the compounding pharmacies market is bifurcated into veterinary, geriatric, adult, and children. The geriatric application segment is likely to record a CAGR of around 6.5% by the end of the analysis period. Surge in number of companion animals will foster the segmental growth.

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Based on compounding type, the compounding pharmacies market is segmented into Pharmaceutical Dosage Alteration (PDA), Currently Unavailable Pharmaceutical Manufacturing (CUPM), Pharmaceutical Ingredient Alteration (PIA), and others.

The CUPM segment held a market value of more than $2.2 billion in 2019. Medicine shortages can occur for several reasons such as quality problems & manufacturing discontinuations as well as delays, owing to the reduced use or fallen manufacturer profits, that might be related to the launch of a new drug.

With respect to sterility, the compounding pharmacies market is divided into nonsterile dosage forms and sterile dosage form. The sterile dosage form will witness a CAGR of around 6.5% over the forecast time period. Increasing incidence of chronic diseases is expected to increase the need for sterile medications.

Based on distribution channels, the compounding pharmacies market is classified into compounding pharmacies, hospital pharmacy, and others. The others segment represented a market value of more than $850 million in 2019 and will continue to show appreciative growth in coming years.



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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