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Sterile Compounding Pharmacies Market 2023 : By Growth Strategies, Industry Demand, Share, Trends And Forecast To 2032
Sterile Compounding Pharmacies Market
The Business Research Company's Sterile Compounding Pharmacies Global Market Report 2023 identifies Increasing demand for personalized medicine as the major driver for the Sterile Compounding Pharmacies market's growth in the forecast period. Personalized medicine is a type of medicine that prevents, diagnoses, or treats disease by using information about a person's genes or proteins. Sterile compounding pharmacies play a significant role in offering personalized medications to patients in a sterile environment to provide customized medication to people based on their needs.
The global sterile compounding pharmacies market size is expected to grow from $4.68 billion in 2022 to $4.99 billion in 2023 at a compound annual growth rate (CAGR) of 6.67%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of sterile compounding pharmacies market is expected to reach $6.28 billion in 2027 at a CAGR of 5.92%.
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Major competitors in the Sterile Compounding Pharmacies market are B. Braun SE, PharMerica Corporation, Fagron Group BV, QuVa Pharma Inc., NewCo Pharma GmbH, Medisca.
A key trend in the Sterile Compounding Pharmacies market includes adoption of robotic automation. Major companies operating in the sterile compounding pharmacies market are focused on robotic automation to strengthen their position in the market. For instance, in March 2023, Omnicell Inc., a US-based healthcare technology company, introduced IVX Station, a robotic compounding technology for safe and efficient sterile compounding preparations using automation. The IVX Station features an automated compounding process in an ISO Class 5 environment, as well as temperature, humidity, and particle monitoring continually. It was also designed with safety in mind, with advanced vision systems, gravimetric verification, auto-labeling, and automated application of tamper-evident syringe caps.
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The Sterile Compounding Pharmacies market is segmented -
• By Product: Injectables, Nasal, Ocular, Otic
• By Therapeutic Area: Hormone Replacement Therapy, Pain Management, Dermatology, Oncology, Hematology, Dental, Other Therapeutic Areas
• By Route of Administrations: Intravenous, Intramuscular, Subcutaneous
• By End-Users: Adults, Pediatrics, Geriatrics, Veterinary
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Sterile Compounding Pharmacies market.
The Business Research Company's "Global Sterile Compounding Pharmacies Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Sterile Compounding Pharmacies Market Include:
1. Executive Summary
2. Sterile Compounding Pharmacies Market Characteristics
3. Sterile Compounding Pharmacies Market Trends And Strategies
4. Sterile Compounding Pharmacies Market - Macro Economic Scenario
5. Global Sterile Compounding Pharmacies Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
…………………………………………………………………….
32. Global Sterile Compounding Pharmacies Market Competitive Benchmarking
33. Global Sterile Compounding Pharmacies Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Sterile Compounding Pharmacies Market
35. Sterile Compounding Pharmacies Market Future Outlook and Potential Analysis
36. Appendix
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