Compounding Pharmacies Market Shares, Strategies Grow 2028

The compounding pharmacies market was valued at US$ 9,442.8 million in 2020 and is projected to reach US$ 14,995.1 million by 2028; it is expected to grow at a CAGR of 6.1% from 2021 to 2028.

The major factors driving to the growth of the market are the drug shortage crisis across the world, benefits associated with compounded medications, and increasing adoption of customized medicine (personalized medicine). However, product recalls and stringent regulatory requirements are restricting the Compounding Pharmacies market growth. Compounding pharmacy’s or compound pharmacy’s role is to mix ingredients as per patients' needs and manufacture drugs that are not commercially available. Compounding pharmacies are essential in cases of limited dosage strengths and dosage forms, drug allergies to certain ingredients, pediatrics, chemotherapy, and veterinary medicine. Further, compounded medicines enhance pharmacist contribution to developing and implementing patient therapeutic plans and provide customized medications of high pharmaceutical quality.

In December 2020, Triangle Compounding Pharmacy launched compounded hand sanitizer to fight against COVID-19 pandemic. Triangle Compounding Pharmacy is the first to provide pharmaceutical-grade hand sanitizer in the US.  

Lucrative Regions for Compounding Pharmacies Market

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Market Insights

Drug Shortage Crisis Across the World

The US is encountering a rapid drug shortage, which has caused difficulties for health care facilities, clinicians, patients, and federal regulators. Challenges in manufacturing, acquisition of raw materials, regulatory issues, and business arrangements, as well as disruptions in the supply chain are the major factors causing drug shortage. According to the American Society of Health-System Pharmacists, drug shortages can negatively affect drug therapy and cause delay in medical procedures resulting in medication errors. Drug shortages range from simple medicines, such as buffered aspirin, to life-saving medications—such as cancer antibiotics and cancer chemotherapy agents—and emergency medications, such as epinephrine. Healthcare professionals, especially pharmacists, along with the US government and drug manufacturers, are consistently working on managing this public-health crisis. Health care personnel have started formulating solutions to overcome drug shortage. Compounding pharmacies are considered a viable source of drugs that are in short supply. Additionally, due to COVID-19 pandemic, the US Food and Drug Administration (USFDA) has identified 20 drugs with shortage risks.

Compounding pharmacies offer a great alternative to conventional medication dispensing that can be beneficial in times of crisis

Product-Based Insights

Based on product, the compounding pharmacies market is segmented into oral medications, topical medications, suppositories, and others. The oral medications segment held the largest share of the market in 2020. The growth of this segment can be attributed to the factors such as easy to consume and they come in different forms such as solid tablets, capsules, chewable tablets, and lozenges, which can be swallowed whole or sucked or as drinkable liquids such as syrups, drops, and solutions. Further, the compounding pharmacies market for topical medications segment is expected to grow at the fastest CAGR during 2021–2028.

Compounding Pharmacies Market, by Product – 2020 and 2028

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Therapeutic Area-Based Insights

Based on therapeutic area, the compounding pharmacies market is segmented into pain medications, hormone replacement therapies, dermatological applications, and others. The pain medications segment held the largest share of the market in 2020 and is estimated to register the highest CAGR in the market during the forecast period.

Strategic Insights

Companies operating in the compounding pharmacies market adopt the product innovations strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the global market.

Compounding Pharmacies Market – by Product

• Oral Medications
• Topical Medications
• Suppositories
• Others

Compounding Pharmacies Market – by Therapeutic Area

• Pain Medications
• Hormone Replacement Therapies (HRT)
• Dermatological Applications
• Others

Compounding Pharmacies Market– by Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC

• Middle East and Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

• South and Central America (SCAM)

  • Brazil
  • Argentina
  • Rest of SCAM

Company Profiles

• Fagron, Inc.       
• Elixir Compounding Pharmacy   
• Avella specialty pharmacy        
• B. Braun Melsungen AG
• PharMEDium Healthcare Holdings, Inc.
• Fresenius Kabi AG         
• Belle Santé Diagnostic & Therapeutic Institute Pvt. Ltd
• Triangle Compounding Pharmacy        
• Vertisis Custom Pharmacy       
• US Compounding Inc