Compounding Pharmacies Market Future Challenges and Industry Growth Outlook by 2020-2026

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 global compounding pharmacies industry is estimated to foresee tremendous revenue growth over the coming years owing to the rising need of customized drugs and medicines for patients to treat a series of different disorders. A compounding pharmacy usually develops customized medications and drugs which cannot be found commercially or in local pharmacies. Compounding pharmacies can develop various forms of drug doses, drugs, and even sugar-free-drugs which is further propelling their demand share.

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Compounding pharmacies are not just limited to making customized drugs for individual’s with specific needs, they are also capable of formulating unique medications for animals, diaper rash creams, as well as other homeopathic treatments. Additionally, a number of compounding pharmacies have also patented their customized medications which they sell locally, which is likely to effectively influence compounding pharmacies market growth.

In terms of therapeutic area, the market is bifurcated into specialty drugs, dermatology, hormone replacement, pain management applications, nutritional supplements among others. Of these, in 2019, the nutritional supplements segment accounted for an industry valuation of over $580 million. Also known as dietary supplements, nutritional supplements are consumed to provide nutrients to the body. The nutrients include minerals, proteins, vitamins, amino acids, as well as other nutritional substances. All these products are usually consumed in capsule, tablet, or liquid form.

With respect to product, the market is bifurcated into ophthalmic, otic, parenteral, oral, topical, rectal, and nasal. Among these, in 2019, the nasal market held a market share of 8%. Nasal administration is a way of drug transmission in the body from the nose. Nasal administration assists in solving issues related to drug degradation, poor bioavailability, slow absorption, and adverse effects in the gastrointestinal tract. The nasal delivery also prevents the first-pass metabolism from occurring in the liver.

With respect to the compounding type, the market is characterized by PIA (Pharmaceutical Ingredient Alteration), CUPM (Currently Unavailable Pharmaceutical Manufacturing), PDA (Pharmaceutical Dosage Alteration), and others. The CUPM segment held an immense industry valuation of over $2.2 billion back in 2019. There are various factors that result in medicine shortages. A medicine shortage can occur due to manufacturing discontinuations, quality issues, and even delays due to the decreased use of the product or even reduced manufacturer profits, relating to the unveiling of new drugs. This is creating more opportunities for the segment growth.

Major market players are focusing on acquisitions, partnerships, and investments to gain a competitive edge over others. Taking May 2019 for instance, compounding pharmacy giant, Fagron, reportedly announced the acquisition of Central de Drogas (Cedrosa), a renowned raw material supplier to compounding pharmacies and the pharmaceutical market. The acquisition allowed Fagron to enter the Mexican market.

The competitive landscape of the global compounding pharmacies market is inclusive of players such as Wedgewood Village Pharmacy, Inc., Nephron Pharmaceuticals Corporation, Rx3 Compounding Pharmacy, Triangle Compounding Pharmacies,  Athenex Pharma Solutions, McGuff Company, Pencol Compounding Pharmacy, Lorraine’s Pharmacy, Clinigen Group PLC, Institutional Pharmacy Solutions, Fresenius Kabi, Fagron, Dougherty's Pharmacy, and B. Braun Medical among others. 

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Partial Chapter of the Table of Content 

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

Chapter 4. Compounding Pharmacies Market, By Therapeutic Area

4.1. Key segment trends

4.2. Hormone replacement

4.2.1.    Hormone replacement market, by region, 2015 - 2026, (USD Million)

4.3. Pain management

4.3.1.    Pain management market, by region, 2015 - 2026, (USD Million)

4.4. Dermatology

4.4.1.    Dermatology market, by region, 2015 - 2026, (USD Million)

4.5. Specialty drugs

4.5.1.    Specialty drugs market, by region, 2015 - 2026, (USD Million)

4.6. Nutritional supplements

4.6.1.    Nutritional supplements market, by region, 2015 - 2026, (USD Million)

4.7. Others

4.7.1.    Others market, by region, 2015 - 2026, (USD Million)