Press release
Compounding Pharmacies Market is forecasted to be worth US$ 13,366.5 Mn by 2025
The primary factors driving revenue growth of the global compounding pharmacies market are increasing medicinal droughts of prescription medicine, growing demand for HRT drugs, and increase in demand for topical products – these factors will upsurge the growth of the compounding pharmacies market in the coming years. Increasing restricted formulations and unsafe compounding practices are some of the factors that will restrain the growth of the compounding pharmacies market over the forecast period.
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Segmental Forecast of the Global Compounding Pharmacies Market
The market is segmented based on product type, application type, therapeutic area and region. On the basis of product type the market has been segmented as oral medication, topical medication, mouthwashes and suppositories. By product type, the oral medication segment is expected to remain the largest segment, registering a CAGR of 9.5% in terms of value over the forecast period. The oral medication product type segment is expected to reach a market value of US$ 6,357.7 Mn by 2025 end.
On the basis of application type, the compounding pharmacies market has been segmented as medication for adults, medication for veterinary, medication for children and medication for geriatric. The medication for adults segment is expected to remain the largest segment, registering a CAGR of 9.0% in terms of value over the forecast period. The medication for adults application type segment is expected to reach a market value of US$ 7,588.7 Mn by 2025 end.
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On the basis of therapeutic area, the compounding pharmacies market has been segmented as pain management and hormone replacement therapy. By therapeutic area, hormone replacement therapy is expected to remain the largest segment, registering a CAGR of 9.9% in terms of value over the forecast period. The hormone replacement therapy segment is expected to reach a market value of US$ 9,380.7 Mn by 2025 end.
On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America dominated the global compounding pharmacies market with maximum value share of the overall market in 2016. The North America compounding pharmacies market is expected to register the highest CAGR of 7.6% over the forecast period to reach a market value of US$ 8,953.3 Mn by 2025 end.
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