Compounding Pharmacies Market Top industry players | B. Braun, Cantrell Drug company, Doughtery’s Pharmacy, Fagron, Fresenuis Kabi, Institutional Pharmacy solutions, ITC Compounding Pharmacy, Lorraine’s Pharmacy, McGuff Compounding Pharmacy Services
Increasing geriatric population across the globe coupled with rising prevalence of cardiovascular disease, diabetes, hypertension and respiratory disorders will serve to be a high impact rendering factor for compounding pharmacies market. According to United Nations, the geriatric population accounted for 962 million in 2017 and is expected to double by 2050. Compounded medicines are increasingly being used in geriatric population as they are often intolerant to the commercially available dosage form and need suitable alternatives.
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However, lack of skilled lab technicians and pharmacists, to prepare compounded medications in exact strength and dosage as per the patient’s requirement is a major industry restraint. Moreover, high cost of equipment required for compounding, maintenance of sterility and continuously changing regulatory guidelines will hamper the industry growth.
Oral product segment dominated the market in 2017 and is forecasted to witness rapid growth over the forecast timeframe. High demand for oral liquid medications owing to associated ease of administration will boost the segment growth. Increasing preference for other oral solid dosage forms such as capsules and granules will further support the segment growth.
Adult application segment accounted for the largest market share and is poised to grow at a robust growth rate over the coming years due to increasing demand of compounded drugs for treatment of cardiovascular disease that are highly prevalent among the adults. High demand for hormonal replacement therapy from adult age group will further escalate the segment growth to some extent.
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Hormone replacement segment will grow at a robust growth rate of 7% owing to the increasing demand for anti-ageing solutions. Heightened demand for bioidentical hormone replacement therapy for women, testosterone therapy for men and other high quality dermatological products that are primarily formulated in compounding pharmacies will further augment the segment growth.
U.S. dominated the global market in 2017 and will witness robust growth over the forecast period. Several government initiatives to increase adoption of compounded medicine will fuel industry growth in U.S. Growing shortage of prescription drugs and rising prices of FDA approved drugs will escalate demand for compounded medication."
China market is forecasted to grow at a robust CAGR of 8% over the coming years owing to increasing geriatric population and rapidly developing healthcare infrastructure. Growing prevalence of various age-related diseases such as arthritis, cancer, diabetes and cardiovascular diseases coupled with adverse drug reactions associated with commercially available drugs will further fuel the adoption of customized treatment driving the industry growth over the forecast period.
Some of the industry players operating in global market are Fagron, PharMEDium, B. Braun, McGuff, Institutional Pharmacy Solutions, Triangle Compounding Pharmacies, Cantrell Drug Company, Wedgewood Village Pharmacy, Fresenius Kabi, Lorraine’s Company, Dougherty’s Pharmacy, Village Compounding Pharmacy, Rx3, ITC Compounding Pharmacy and Pencol Compounding Pharmacy.
Industry players are taking efforts to develop newer and efficient systems for drug compounding. For instance, B. Braun, in 2017, launched the Apex Compounding System, specifically designed to address the immediate needs of critically ill patients while meeting the needs of pharmacists. Strategic expansion through mergers and acquisitions help the players to enhance and strengthen the product portfolio.
Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
126.96.36.199. Pain sources
188.8.131.52. Unpaid sources
Chapter 2. Executive Summary
2.1. Compounding pharmacies industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Therapeutic area trends
2.1.3. Product trends
2.1.4. Application trends
2.1.5. Compounding type trends
2.1.6. Sterility trends
2.1.7. Distribution channel trends
2.1.8. Regional trends
Chapter 3. Compounding Pharmacies Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
184.108.40.206. Increase geriatric population & longevity globally
220.127.116.11. Growing acceptance of personalized medicines in U.S. and Europe
18.104.22.168. Increasing drug shortage in North America and Europe
22.214.171.124. Convenience of using compounded drugs
126.96.36.199. Growing drug failure rate
3.4.2. Industry pitfalls & challenges
188.8.131.52. Lack of skilled lab technicians and pharmacists
184.108.40.206. High costs of equipment and maintenance of sterile environment
220.127.116.11. Changing regulatory specifications
18.104.22.168. 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
3.7. Reimbursement landscape
3.8. Cost analysis of compounded medications
3.9. Innovative compounding technologies
3.9.1. Web-based quality management system
3.9.2. Digital tools
3.10. Prescriber’s insights
3.11. Porter's analysis
3.12. Competitive landscape
3.12.1. Strategy dashboard
3.13. PESTEL analysis
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