Compounding Pharmacies Market 2020 By Revenue, Top Trend & Regional Growth Forecast

Compounding Pharmacies Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The compounding pharmacies market is expected to gain considerable momentum owing to myriad drug requirements among people who are highly susceptible to allergic reactions.

Studies cite that the commercially manufactured drug preparations are not appropriate for everyone’s use considering that any previous existence of ailments in people can develop allergic reactions. This particular standpoint creates the need for compounding pharmacies that provide customized pharmaceutical solutions suited to individual requirements.

The increase use of compounded medications over these years has prompted, governments across the globe to formulate their own policies for regulating the production of compounded drug preparations. For instance, the U.S. Congress has reportedly enacted the Drug Quality and Security Act (DQSA) owing to the 2012 fungal meningitis outbreak and several such events causing deaths due to the poor compounded drug quality. DQSA has made important amendments to the Federal Food Drug and Cosmetic (FD&C) Act with sections 503A and 503B dealing with stringent guidelines about advertising and outsourcing of compounded drugs in the country.

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As per the latest research conducted by GMI, Inc., compounding pharmacies market is estimated to surpass the USD 14 billion mark by 2026.

The wide range of products in the compounding pharmacies market comprise medications including topical, oral, ophthalmic, parenteral, rectal, otic and nasal. Of these, topical drugs allow absorption of medication into the blood stream as they are applied onto the patient’s skin. These medications are useful for people who face difficulties in swallowing and are looking for other alternatives. Estimates claim that in 2019, the topical medications segment held a valuation of around USD 1.5 billion.

In terms of medications, compounding pharmacies market is further bifurcated into sterile and non-sterile. Non-sterile compounded medications include syrups, pills, and capsules, that do not require strict regulatory approvals as against sterile compounded preparations that carry a remarkable risk of contamination. The growth forecast by GMI, Inc., states that the non-sterile segment is expected to witness a CAGR of 5.5% over the analysis period.

With respect to the therapeutic area segment, compounding pharmacies market is fragmented into dermatology applications, hormone replacement therapies, pain management, nutritional supplements and specialty drugs. The 2019 data reveals that the dermatology applications segment accounted for 18% of the compounding pharmacies market share. These compounded preparations mainly include sprays, gels, foams, and ointments, that are used for individuals allergic to commercial drugs.

The U.S. compounding pharmacies market is expected to witness a CAGR of 5.5 % over the period 2020-2026. Many compounding pharmacies in the country are considering technology upgradation and complete automation for increasing their scale of manufacturing, which is driving the regional growth.

The various applications of compounded medications include adult, pediatric, geriatric, and veterinary sectors. Veterinary compounded drugs are also available with an option to add flavors to make them more palatable. According to 2019 statistics, the veterinary segment accounted for around 18% of the total market share.

Prominent players in the market are following numerous growth strategies including acquisitions and product launch to bolster product demand in the compounding pharmacies market. Major business players in the market comprise Fagron, RX3 Compounding Pharmacy, Clinigen Group, Athenex Pharma Solutions, Triangle Compounding Pharmacies and others. 

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Partial Chapter of the Table of Content 

Chapter 2. Executive Summary

2.1. Compounding pharmacies industry 3600 synopsis, 2015 - 2026

2.1.1.    Business trends

2.1.2.    Therapeutic area trends

2.1.3.    Product trends

2.1.4.    Application trends

2.1.5.    Compounding type trends

2.1.6.    Sterility trends

2.1.7.    Distribution channel trends

2.1.8.    Regional trends

Chapter 3. Compounding Pharmacies Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 - 2026

3.3. Industry ecosystem analysis

3.3.1.    Distribution channel analysis

3.4. Industry impact forces

3.4.1.    Growth drivers

3.4.1.1. Rising geriatric population and improved life expectancy across the globe

3.4.1.2. Rising adoption of customized medicine in the developed regions

3.4.1.3. Shortage of drugs across the globe

3.4.1.4. Benefits of compounded medication

3.4.1.5. Growing drug failure rate

3.4.2.    Industry pitfalls and challenges

3.4.2.1. Lack of skilled lab technicians and pharmacists in developed economies

3.4.2.2. High cost of equipment and maintenance of sterile environment

3.4.2.3. Volatile regulatory scenario

3.4.2.4. Consumer perception towards compounded drugs

3.5. Growth potential analysis

3.5.1.    By therapeutic area

3.5.2.    By product

3.5.3.    By application

3.5.4.    By compounding type

3.5.5.    By sterility

3.5.6.    By distribution channel

3.6. Regulatory landscape

3.6.1.    U.S.

3.6.2.    Europe

3.6.3.    Australia

3.7. Reimbursement landscape

3.7.1.    U.S.

3.7.2.    Europe

3.7.3.    Australia

3.8. Cost analysis of compounded medications

3.9. Compounding pharmacies count, by region 2019

3.9.1.    North America

3.9.2.    Europe

3.9.3.    Asia Pacific

3.9.4.    Latin America

3.9.5.    Middle East and Africa

3.10.    Innovative compounding technologies

3.10.1. Web-based quality management system

3.10.2. Digital tools

3.11.    Porter’s analysis

3.12.    PESTEL Analysis