The Global compounding pharmacy market Size is anticipated to exceed US$ 15 billion by 2028, By SkyQuest Technology

The Global compounding pharmacy market is driven by the growing popularity of customized medicine which is also reshaping the global compounding pharmacies market stance.
Compounding allows pharmacists to request drugs that can meet the patients' needs and are prepared according to the required specifications in terms of ingredients and route of administration. Moreover, it enables pharmacists to create difficult-to-find medications. Patients may experience better health outcomes, particularly newborns and elderly people who may be allergic to some chemicals in commercial drugs.
Insufficient drug accessibility, rising costs of brand-name prescription counterparts, and developing medical gaps in required medication doses around the world are expected to further drive the growth of the compounded pharmaceuticals market during the forecast period.

Manufacturers must overcome a number of obstacles in order to invest in the sterile compounding sector.

Risky compounding methods, including as contamination and disregard for GMP guidelines while compounding, are the main barrier to the widespread use of sterile compounded medications. Sterile dosage forms are less likely to be in demand as a result of the development of bacteria and fungi in contaminated sterile environments, which has led to numerous risks and drug-related deaths.

Read market research report, "Global Compounding Pharmacy Market, By Product Type (medications, Topical medications, Suppositories, Mouthwashes, and Others), By Therapeutic Area (Hormone replacement therapies, Pain medications, Dermatological applications, and Others) & By Region - Forecast and Analysis 2022-2028" by SkyQuest

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The Global compounding pharmacy market segmentation is done on the basis of product types such as Oral drugs, Topical medications, Suppositories, Mouthwashes, and Others are the different segments of the market. The market share is expected to be dominated by topical treatments. The factors can be linked to the growing demand for dermatological applications as well as the expanding market for hormone replacement therapy.

Among the regions, the U.S. dominated the North American compounding pharmacies market and was valued at over USD 5 billion in 2020. The North America region is anticipated to continue its growth trend during the forecast period. Increasing demand for compounded drugs coupled with a rising geriatric population will drive the market revenue. The existence of advanced healthcare infrastructure facilities along with government initiatives favoring compounding pharmacies will further boost regional growth.

In North America, the use of personalized medicine for illness treatment and disease prevention is growing. Compounding pharmacies provide personalized medications for a specific population of patients who need a specific prescription that is not widely available on the market. The advantages of personalized medicine include better health outcomes for patients, especially young children and elderly people as well as those who have allergies to specific components of over-the-counter medications.
The ability to compound allows for requests for medications that are exactly suited to patients' needs in terms of both formulation and mode of administration.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.

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What does this Report Deliver?
• Market Estimation for 20+ Countries
• Compound pharmacy market demand by Region, Sub-Region, and Country
• Customization on Segments, Regions, and Company Profiles
• 100+ tables, 150+ Figures
• Global, Regional and Country specific compounding pharmacy market Trends
• Comprehensive Mapping of compounding pharmacy market Industry Parameters
• Attractive Investment Proposition in the Global compounding pharmacy Industry
• Competitive Strategies Adopted by compounding pharmacy market Key Players
• Drivers, Restraints, Opportunities, Challenges and the impact on the compounding pharmacy market Size
• Market growth rate till 2028
• Regulatory scenario, regional dynamics, and compounding pharmacy market insights of leading countries in each region
• In-depth Market insights by Region and Country
• Market Segmentation Trend Analysis, Opportunities and Growth
• Porter's five force analysis to know the market's condition
• Pricing Analysis and compounding pharmacy market Sales
• Parent market analysis
• Product portfolio benchmarking

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SkyQuest has segmented the Global compounding pharmacy market based on Product Type and Region:

● Global compounding pharmacy market Product Type (Revenue, US$ billion, 2021 - 2028)
o Oral drugs
o Topical medications
o Suppositories
o Mouthwashes
o Other Products
● Global compounding pharmacy market Therapeutic Area (Revenue, US$ billion, 2021 - 2028)
o Hormone replacement therapies
o Pain medications
o Dermatological applications
o Others
● Global compounding pharmacy market by Region (Revenue, US$ billion, 2021 - 2028)
o North America
▪ U.S.
▪ Canada
o Europe
▪ Germany
▪ France
▪ UK
▪ Italy
▪ Spain
▪ Rest of Europe
o Asia Pacific
▪ China
▪ India
▪ Japan
▪ Rest of Asia Pacific
o Central & South America
▪ Brazil
▪ Rest of CSA
o Middle East & Africa
▪ GCC Countries
▪ South Africa
▪ Rest of MEA

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This release was published on openPR.