The global compounding pharmacies market revenue was around US$ 8.62 billion in 2022 and is estimated to reach US$ 14.81 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2023 to 2031.
A compounding pharmacy is a distinct type of pharmacy. They can create customized medications for the individual who requires them. Some individuals and animals require medications that aren’t commercially available. These are medications that aren’t mass-produced and available at a traditional pharmacy. There are numerous possible reasons for this requirement, and that’s where compounding pharmacies come in. Compounding pharmacies can make two types of compounds such as non-sterile and sterile.
Market Driving Factors
Surging demand for personalized medicine is estimated to boost the market expansion. This is mainly due to the surge in the safety and efficacy of medications by tailoring them to each patient's unique requirements. In addition, patients with distinct requirements, such as allergies and intolerance to specific substances, medication for orphan/rare diseases, and others, need compounded medications tailored to their specific conditions. As a result, compounded pharmacies are utilized to offer access to some discontinued medications, mainly owing to commercial reasons.
Insufficient commercially available drugs are estimated to drive the market expansion. This is primarily owing to the insufficient supplies of drugs that are becoming increasingly common in many nations. As a result, compounding pharmacies can bridge the gap in drug shortage by making non-commercially available medications.
The surge in restrictions on the manufacturing of difficult formulations is predicted to hinder market expansion.
Regional Analysis
North America dominated the market in terms of the highest rate and is estimated to continue its dominance. This can be majorly attributed to the surge in the well-established healthcare system, the rise in several geriatric patients, and the growth in the number of compounding pharmacies in the region.
Asia Pacific is estimated to dominate the market in terms of the growth rate. This is mainly owing to various elements such as the existence of a large population base, rising per capita income, increasing medical tourism industry, and increasing public awareness regarding the advantages of compounding medications.
Segmentation Insights
Therapeutic Area Insight
The pain management segment dominated the market in terms of the largest share and is estimated to maintain its dominance. This can be largely attributed to the surge in the number of geriatric populations, the increase in several surgical procedures, and the rise in healthcare expenditure.
The nutritional supplements segment is predicted to dominate the market in terms of growth rate. This is mainly due to the increasing demand for personalized beauty and anti-aging products. Therefore, to cater to this demand, numerous companies are providing a range of compounded nutraceutical products. For instance, Medisca Inc. provides more than 100 high-quality compounded nutraceutical products, which are tested for heavy metals, including minerals, prenatal multivitamins, antioxidants, and many other supplements.
Route of Administration Insight
The oral segment dominates the market in terms of the largest revenue. This is primarily due to the huge availability of various medicines that are meant to be orally administered. The oral administration of medicine is the most common and the most comfortable way of administering drugs. Oral medications are effortlessly available in various formats like tablets, granules, powder, and capsules that provide convenience to consumers in consumption and storage.
Sterility Insight
The non-sterile compounding drugs segment is expected to dominate the market in terms of major revenue. This is mainly due to the surge in the prevalence of chronic disorders such as diabetes, increasing demand for personalized medicines, and a surge in the geriatric population.
Prominent Companies
Segmentation Outline
The global compounding pharmacies market segmentation focuses on the Therapeutic Area, Route of Administration, Sterility, and Region.
By Therapeutic Area
By Route of Administration
By Sterility
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL COMPOUNDING PHARMACIES MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: COMPOUNDING PHARMACIES MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL COMPOUNDING PHARMACIES MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL COMPOUNDING PHARMACIES MARKET, BY THERAPEUTIC AREA
5.1 OVERVIEW
5.2 PAIN MANAGEMENT
5.3 HORMONE REPLACEMENT THERAPY
5.4 DERMAL DISORDERS
5.5 NUTRITIONAL SUPPLEMENTS
5.6 OTHERS
6 GLOBAL COMPOUNDING PHARMACIES MARKET, BY ROUTE OF ADMINISTRATION
6.1 OVERVIEW
6.2 ORAL
6.3 TOPICAL
6.4 OTHERS
7 GLOBAL COMPOUNDING PHARMACIES MARKET, BY STERILITY
7.1 OVERVIEW
7.2 NON-STERILE COMPOUNDING DRUGS
7.3 STERILE COMPOUNDING DRUGS
8 GLOBAL COMPOUNDING PHARMACIES MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL COMPOUNDING PHARMACIES MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 RX3 COMPOUNDING PHARMACY
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 B. BRAUN MELSUNGEN AG
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 VALOR COMPOUNDING PHARMACY
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 PENCOL COMPOUNDING PHARMACY
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 NEW COMPOUNDING PHARMA
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 FRESENIUS SE AND CO. KGAA
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 PERRIGO COMPANY PLC
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 NEPHRON PHARMACEUTICALS
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 RX EXPRESS COMPOUNDING PHARMACY
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 ITC COMPOUNDING PHARMACY
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 OLYMPIA COMPOUNDING PHARMACY
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 MCGUFF COMPANIES INC
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 ATHENEX PHARMA SOLUTIONS
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 PANACEA BIOMATX INC
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 DOUGHERTY'S PHARMACY INC.
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 INSTITUTIONAL PHARMACY SOLUTIONS
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.17 ADVANCED PHARMACY
10.17.1 OVERVIEW
10.17.2 FINANCIAL PERFORMANCE
10.17.3 PRODUCT OUTLOOK
10.17.4 KEY DEVELOPMENTS
10.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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