Compounding Pharmacies Market Growth and Major key players operating in the market are Braun Melsungen, Institutional Pharmacy Solutions, Fresenius Kabi, PharMEDium Services, Fagron, Cantrell Drug Company, Pencol Compounding Pharmacy, Imprimis Pharmaceuti

The research report " Global Compounding Pharmacies Market: By Product Type (Oral, Topical, Mouthwashes, Suppositories), By Therapeutic Area (Hormone Replacement Therapy, Pain Medications, Dermatological Conditions, Others), By Application (Children Drugs, Adult Drugs, Geriatric Drugs, Veterinary Drugs), By Distribution Channel (Traditional Stores, Compounding Pharmacies), and Geography- Global/Region/Country Forecast to 2027", Compounding Pharmacies Market at USD 9.4 billion in 2020 and is anticipated to grow at USD 14.32 billion till 2027 recording a CAGR of 6.2.% during the forecast period 2021-2027.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on " Global Compounding Pharmacies Market: By Product Type (Oral, Topical, Mouthwashes, Suppositories), By Therapeutic Area (Hormone Replacement Therapy, Pain Medications, Dermatological Conditions, Others), By Application (Children Drugs, Adult Drugs, Geriatric Drugs, Veterinary Drugs), By Distribution Channel (Traditional Stores, Compounding Pharmacies), and Geography- Global/Region/Country Forecast to 2027".

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Increase in the Demand for Regenerative Compounded Medicines will Foster the Compounded Pharmacies Market Growth

Compounding pharmacies market combines and prepares the personalized medicine by a licensed pharmacist taking the help of physicians. The preparation of these medicines does not require any prescription. These medicines are compounded by altering and combining the active pharmaceutical ingredients with appropriate additives in suitable concentrations. But, these medicines are not approved by regulatory agencies and even do not verify the efficiency as well as safety of the medicines. These medicines are not covered by any pharmaceutical benefit agency or repayment scheme.

Growing demand for regenerative compounded medicines, patent expiration of different blockbuster drugs, availability of compounded drugs in multi-ingredient combinations for different therapeutic areas like dermatology and replacement therapy and several benefits of compounded medicines like dosage according to patient requirement are given are the factors projected to boost the growth of the compounded pharmacies market. Furthermore, availability of alternate dosages like liquids and lozenges to conquer the drug administration complexities and increase in medical drought of the prescription medicine are market driving factors. On the other hand, the lack of capable staff, high price of maintenance for sterile area and adverse effects related with improperly compounded medications can restrain the growth of the compounding pharmacies market.

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Impact of COVID-19 Compounding Pharmacies Market:

In addition, the report discusses the implications of COVID-19, including the industry's initial response and strategies for ensuring business continuity in the coming years.

North America accounted for considerable share in Compounding Pharmacies Market

North America recorded significant market revenue share due to the growing awareness about compounded drugs, high cost of prescription drugs as well as shortage of drugs reported by FDA. Europe comes on the second place to record considerable market revenue share. Compounding pharmacies market in Europe is driven by the availability of expert professionals, business expansion by industry players and patent end of different drugs. Compounding Pharmacies Market in Asia Pacific is witnessing profitable growth due to the growing aged population in countries of this region such as Japan, China, India, product formulations by means of compounding, increasing inclination towards innovative therapies and growing automation in compounding pharmacies in Japan

Competitive Analysis:

There are several leading key players operating in the Compounding Pharmacies Market, which include Braun Melsungen AG (Germany), Institutional Pharmacy Solutions, LLC (U.S.), Fresenius Kabi AG (Germany), PharMEDium Services, LLC (U.S.), Fagron (Belgium), Cantrell Drug Company (U.S.), Pencol Compounding Pharmacy (U.S.), Imprimis Pharmaceuticals, Inc. (U.S.) and Panaceutics, Inc. (U.S.). Moreover, mergers, collaborations and mergers between the market players will impel the market growth.

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