Global Compounding Pharmacy Market 2018-2022
- Published: Apr 2018
- Pages: 100
- SKU: IRTNTR22690
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The global compounding pharmacy market size will grow by USD 2.83 billion during 2018-2022. This report offers an analysis of the market based on product (oral medications, topical medications, parenteral medications, and other medications) and geography (the Americas, APAC, and EMEA). The report analyzes the market’s competitive landscape and offers information on several companies including Fagron, B. Braun Melsungen, Fresenius, Wedgewood Pharmacy, Dougherty's Pharmacy, and Village Compounding Pharmacy.
Below are some of the key findings from this compounding pharmacy market research report
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Global compounding pharmacy industry overview
The increase in healthcare and pharmaceutical spending is a major factor driving the market’s growth. Healthcare spending per capita increased by 7.25% between 2014 and 2016. This is a trend, which is expected to continue during the forecast period. People are spending more on healthcare. Thus, pharmaceutical spending, as a proportion of healthcare spending is also gradually increasing. This indicated the increasing demand for medications. Pharmacy visits are increasing significantly because of the high prevalence of chronic diseases. Owing to the increase in the number of prescriptions, people with allergies to some ingredients, people who are sensitive and need mild doses, and people who need medicines in different forms such as liquids prefer compounded drugs. This is driving the growth of the global compounding pharmacy market. The market is expected to grow at a CAGR of nearly 6% during the forecast period.
The increasing prevalence of hormonal imbalance is identified as one of the key emerging trends in the global compounding pharmacy market. Hormonal imbalance is a genetic condition, which can be passed on from one generation to another. The prevalence of hormonal imbalance is mainly because of the growth in geriatric population, unhealthy eating habits of people, consumption of medications, stress, and increasing prevalence of thyroid, diabetes, and tumors. Hormonal imbalance causes physical and mental issues. Hormonal imbalance can be caused by the lack or surplus of iodine levels in the body. It may also occur because of stress and unhealthy eating habits of people. When left untreated, the hormonal imbalance could also cause cancer. General medicines used to treat hormonal imbalance might not be effective because of the differences in the imbalance of hormones from one person to another. Hormone replacement therapy is a therapeutic area of pharmaceutical compounding. In hormonal therapy, the chemical composition of a person's hormones is tested, and the same hormones are produced for the specific person. Depending on each person's imbalance or deficiency of each type of hormone, identical hormones in the required quantity are administered in the form of pills, capsules, injections, suppositories, or creams. Thus the high prevalence of hormonal imbalance is expected to increase the need for pharmaceutical compounding.
Top compounding pharmacy companies covered in this market research report
The compounding pharmacy market is moderately fragmented with multiple players occupying the market share. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this compounding pharmacy industry analysis report is designed to aid clients to identify new growth opportunities and make informed business decisions.
The report offers a complete analysis of various companies including:
- B. Braun Melsungen
- Wedgewood Pharmacy
- Dougherty's Pharmacy
- Village Compounding Pharmacy
Compounding pharmacy market segmentation based on geographic regions
The Americas will account for the highest growth of this market throughout the forecast period. The region’s dominance is owing to the growing awareness of compounding pharmacies and the rising preference for such pharmacies.
Compounding pharmacy market segmentation based on product
- Oral medications
- Topical medications
- Parenteral medications
- Other Medications
The oral medications segment will account for the highest growth in the market. Oral compound medications are gaining prominence due to their ease of usage and convenience. Additionally, the report will also provide an accurate prediction of the contribution of the various product segments to the growth of the compounding pharmacy market size.
Key highlights of the global compounding pharmacy market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the compounding pharmacy market during the next five years
- Precise estimation of the global compounding pharmacy market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the compounding pharmacy industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of the compounding pharmacy companies
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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