Compounding Pharmacy Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)

The compounding pharmacy market is segmented by Therapeutic Area (Pain Management, Hormone Replacement, Dermal Disorders, Nutritional Supplements, Other Therapeutic Areas), Route of Administration (Oral, Topical, Parenteral, Other Routes of Administration), End User (Humans, Veterinary) and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report offers the value (USD million) for the above segments.

Market Snapshot

Compounding Pharmacy Market Size
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 6.5 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The compounding pharmacy market is projected to register a CAGR of 6.5% during the forecast period.

COVID-19 significantly impacted the compounding pharmacy market as many people with chronic conditions faced difficulties obtaining their medicines due to closed medical offices and imposed government lockdown in several countries. Several compounding pharmacies started an easy and secure way for patients to transfer their compound prescriptions online and receive medicine at their doorstep. Such technological up-gradation in compounding pharmacy practices and the gap in demand & supply during a pandemic are key factors driving the market’s growth.

The growing geriatric population and increasing awareness and demand for personalized medicines worldwide are some of the key driving factors of the market. For instance, per the statistics published by the Organisation for Economic Co-operation and Development (OECD), the global geriatric population increased from 7.5 percent to 9.3 percent of the total population during 2010-2020. The senior population is more prone to suffer from chronic, complex, and multiple diseases at the same time, such as cardiovascular diseases, cancer, multiple sclerosis, and urine incontinence that need personalized treatment. Hence, to treat complex diseases in the geriatric population, demand for compounding pharmacy is expected to increase, thereby driving the compounding pharmacy market over the forecast period.

Additionally, the shortage of drugs in the United States and Europe is further likely to accelerate the compounding pharmacy market growth in these regions. According to the United States Food and Drug Administration (U.S. FDA), the United States has been facing a drug shortage problem for the last few years. The COVID-19 outbreak further worsens this scenario in the country. This shortage is due to supply chain disruption, delays & discontinuation in the manufacturing processes, quality issues, and difficulties in purchasing raw materials. Hence, drug shortage further creates opportunities for compounding pharmacies in the industry, thereby propelling the market’s growth during the forecast period.

Scope of the Report

As per the scope of this report, a compounding pharmacy is a formulation of personalized or custom pharmaceutical products that are unique to the patient's needs and generally not available commercially. The Compounding Pharmacy Market is segmented by Therapeutic Area (Pain Management, Hormone Replacement, Dermal Disorders, Nutritional Supplements, Other Therapeutic Areas), Route of Administration (Oral, Topical, Parenteral, Other Routes of Administration), End User (Humans, Veterinary), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America).

By Therapeutic Area
Pain Management
Hormone Replacement
Dermal Disorders
Nutritional Supplements
Other Therapeutic Areas
By Route of Administration
Oral
Topical
Parenteral
Other Route of Administrations
By End User
Humans
Veterinary
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

Report scope can be customized per your requirements. Click here.

Key Market Trends

Pain Management Segment is Expected to Dominate the Market

The pain management segment is expected to account for the largest share of the market owing to the large patient base suffering from chronic pain from various diseases and the presence of a generic market. Increasing accidental cases and growing cancer and chronic pain cases are key factors responsible for the growth of the pain management market. For instance, according to the data published by the Health Economists, Chronic pain costs about USD 635 billion every year to the U.S., which is greater than the annual costs of diabetes, cancer, and heart diseases.

Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), anticonvulsants, antidepressants, topical analgesics, and opioids are the major classes of drugs that doctors prescribe for chronic pain management. Many people have stomach irritation, unpleasant side effects, and unwanted flavor/route of administration while consuming the commercially available medication, and compounding pharmacies provide alternate methods to ease consumption. Such an advantage of compounding pharmacy is expected to accelerate the market growth.

Compounding Pharmacy Market Share

North America is Expected to Dominate the Market during the Forecast Period

The presence of several compounding pharmacies, high adoption among people, and scarcity of many drugs are key factors for market growth. According to the statistics published by the International Academy of Compounding Pharmacists (IACP), there are currently about 56,000 compounding pharmacies operating in the United States, out of which 7,500 pharmacies provide advanced compounding services.

The United States Food and Drug Administration (FDA) provides guidelines for maintaining the quality of medications. Additionally, there are laws & regulations by the individual state for the operation of a compounding pharmacy. Hence, these regulations help gain patients' confidence in compounding pharmacies and are expected to create more demand for compounding pharmacies during the forecast period.

However, the requirement of huge investment to establish a well-equipped compounding pharmacy is expected to restrain the market growth.

Compounding Pharmacy Market Analysis

Competitive Landscape

The compounding pharmacy market is highly fragmented and competitive. B. Braun, Athenex Pharma Solutions, Fresenius Kabi, Clinigen Group PLC, Dougherty's Pharmacy, Inc., Lorraine's Pharmacy, Nephron Pharmaceuticals Corporation, Rx3 Compounding Pharmacy, Institutional Pharmacy Solutions, Mcguff compounding pharmacy services, Pencol Compounding Pharmacy, ITC Compounding Pharmacy, and Valor Compounding Pharmacy are some of the key compounding pharmacies in the market.

Recent Developments

· In April 2021, Partners Group acquired most of the share of Wedgewood Pharmacy, one of the largest veterinary compounding pharmacies in the United States, from its client, New Harbor Capital.

· In December 2020, Chewy, Inc. expanded its pharmacy business to compound medications for pets.

· In January 2020, the United States Food and Drug Administration (FDA) opened a Compounding Quality Center of Excellence to provide educational tools to assist pharmacies in providing reliable compounded drugs by fulfilling all regulatory standards.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Defination

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Demand of Personalized Medicine

      2. 4.2.2 Shortage of Drugs and Rising Geriatric Population

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Skilled Compounding Pharmacists

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value – USD million)

    1. 5.1 By Therapeutic Area

      1. 5.1.1 Pain Management

      2. 5.1.2 Hormone Replacement

      3. 5.1.3 Dermal Disorders

      4. 5.1.4 Nutritional Supplements

      5. 5.1.5 Other Therapeutic Areas

    2. 5.2 By Route of Administration

      1. 5.2.1 Oral

      2. 5.2.2 Topical

      3. 5.2.3 Parenteral

      4. 5.2.4 Other Route of Administrations

    3. 5.3 By End User

      1. 5.3.1 Humans

      2. 5.3.2 Veterinary

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 B. Braun Medical Inc.

      2. 6.1.2 Fagron NV

      3. 6.1.3 Fresenius Kabi

      4. 6.1.4 Wedgewood Pharmacy

      5. 6.1.5 Clinigen Group PLC

      6. 6.1.6 Dougherty's Pharmacy, Inc.

      7. 6.1.7 Lorraine's Pharmacy

      8. 6.1.8 Rx3 Compounding Pharmacy

      9. 6.1.9 Institutional Pharmacy Solutions

      10. 6.1.10 Mcguff compounding pharmacy services

      11. 6.1.11 Pencol Compounding Pharmacy

      12. 6.1.12 ITC Compounding Pharmacy

      13. 6.1.13 Valor Compounding Pharmacy, Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Global Compounding Pharmacy Market market is studied from 2019 - 2027.

The Global Compounding Pharmacy Market is growing at a CAGR of 6.5% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

B. Braun Medical Inc. , Fresenius Kabi , Wedgewood Pharmacy , Clinigen Group PLC , Fagron NV are the major companies operating in Global Compounding Pharmacy Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!