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Surging Demand For Personalized Medicine Drives Growth In Sterile Compounding Pharmacies Market Emerges as a Core Driver of the Sterile Compounding Pharmacies Market in 2025
Sterile Compounding Pharmacies Market Size
What Is the Expected CAGR for the Sterile Compounding Pharmacies Market Through 2025?
The market size for sterile compounding pharmacies has been experiencing robust growth in the past few years. The projections are that it will increase from $5.34 billion in 2024 to hit $5.63 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.5%. This growth in the yesteryears can be credited to features such as patient safety issues, a transition towards tailored treatments, home infusion therapies, the execution of clinical trials and investigational drugs, as well as backing for rare conditions.
What's the Projected Size of the Global Sterile Compounding Pharmacies Market by 2029?
Expectations are high for the sterile compounding pharmacies segment, as forecasts predict robust expansion in market size over the next several years. The sector is projected to balloon to a market valuation of $7.3 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.7%. Various factors are prompting this growth during the forecast period, such as the increase in chronic illnesses, rising healare needs of the elderly population, disruptions in supply chains, a shortage of drugs, and the advance of precision medicine, among others. There is an increasing emphasis on patient-oriented care. Dominant trends for the forecast period encompass the integration of automation and robotics, stringently adhered regulatory checks, a leaning towards personalized medicine and specialized compounds, outsourcing compounding services, and advancements in aseptic techniques.
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Top Growth Drivers in the Sterile Compounding Pharmacies Industry: What's Accelerating the Market?
The surge in the need for personalized medicine is projected to catalyze the expansion of the sterile compounding pharmacies market. Personalized medicine represents a unique approach to healare that utilizes individual genetic or protein information to prevent, diagnose or treat diseases. Sterile compounding pharmacies are instrumental in delivering tailored medications to patients within a sterile setting to provide personalized treatment plans, thereby mitigating the risk of intolerance to specific doses or drug elements. This enhances treatment outcomes and improves patient satisfaction and therapy compliance. For example, the Personalized Medicine Coalition, a US firm engaged in personalized medical services, revealed in their 2022 report that personalized medicines have made up at least a quarter of new drug approvals, with the sanctioning of 12 new personalized medications in 2022 marking a massive increase. Thus, the skyrocketing demand for personalized medicine is fueling the sterile compounding pharmacies market.
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What Trends Will Shape the Sterile Compounding Pharmacies Market Through 2029 and Beyond?
The emergence of robotic automation is a significant trend that is being embraced in the sterile compounding pharmacies market. Major companies participating in this market are leveraging robotic automation to enhance their market position. For example, in March 2023, Omnicell Inc., a company that specializes in healare technology in the U.S., unveiled the IVX Station, a robotic compounding technology developed for the safe and efficient preparation of sterile compounding using automation. The IVX Station offers an automated compounding process in an ISO Class 5 setting, while also consistently monitoring temperature, humidity, and particles. The design of the IVX Station emphasizes safety, incorporating features such as advanced vision systems, gravimetric verification, automatic labeling, and automated syringe cap sealing that indicates any tampering. Moreover, this novel technology promotes scalability through a cloud-based formulation library that is regularly updated to ensure manufacturers have access to the most recent approved formulations.
What Are the Main Segments in the Sterile Compounding Pharmacies Market?
The sterile compounding pharmacies market covered in this report is segmented -
1) By Product: Injectables, Nasal, Ocular, Otic
2) By Therapeutic Area: Hormone Replacement Therapy, Pain Management, Dermatology, Oncology, Hematology, Dental, Other Therapeutic Areas
3) By Route Of Administrations: Intravenous, Intramuscular, Subcutaneous
4) By End-Users: Adults, Pediatrics, Geriatrics, Veterinary
Subsegments:
1) By Injectables: Sterile Solutions, Sterile Suspensions, Sterile Powders For Reconstitution
2) By Nasal: Nasal Sprays, Nasal Solutions, Nasal Gels
3) By Ocular: Ophthalmic Solutions, Ophthalmic Suspensions, Ocular Inserts
4) By Otic: Otic Solutions, Otic Suspensions, Otic Gels
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Which Top Companies are Driving Growth in the Sterile Compounding Pharmacies Market?
Major companies operating in the sterile compounding pharmacies market include B. Braun SE, PharMerica Corporation, Fagron Group BV, QuVa Pharma Inc., NewCo Pharma GmbH, Medisca, PharMEDium Healare Holdings Inc., Central Admixture Pharmacy Services (CAPS), SandsRx LLC, LeeSar Inc., Avella Specialty Pharmacy, Stokes Pharmacy Inc., Imprimis Pharmaceuticals Inc., Wells Pharmacy Network LLC, McGuff Compounding Pharmacy Services Inc., Potter's House Apothecary Inc., Pharos Innovations LLC, Triangle Compounding Pharmacy Inc., Valor Compounding Pharmacy Inc., Pace Pharmacy, PenCol Specialty Pharmacy LLC, Pavilion Compounding Pharmacy LLC, Olympia Pharmacy, MedisourceRx, Stat RX Pharmacy, Rx3 Compounding Pharmacy, Atlas Pharmaceuticals Co. Ltd., ReNue Rx, Premier Pharmacy Labs Inc., Absolute Pharmacy Inc.
Which Regions Will Dominate the Sterile Compounding Pharmacies Market Through 2029?
North America was the dominant region in the sterile compounding pharmacies market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sterile compounding pharmacies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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