Compounding Pharmacies Market to witness major growth in coming years
Date: 2020-03-02   Author: Rahul Varpe  Category: #news

Compounding Pharmacies Market to witness major growth in coming years

Compounding Pharmacies market will reach USD 12.5 billion by 2024; as per a new research report. Rising prevalence of chronic and non-communicable diseases worldwide will drive compounding pharmacy market growth over the forecast timeframe. Growing elderly population suffering from chronic diseases such as diabetes, asthma and other cardiac disorders coupled with increasing life expectancy across the world will propel the industry growth. Furthermore, increasing aesthetic concerns will fuel the demand for anti-ageing products such as testosterone therapy for men, bioidentical hormone replacement therapy for women and other high quality dermatological products that are produced in compounding pharmacies.

Dearth of cancer drugs or other essential drugs in developed region such as Europe and North America will augment the demand for compounding pharmacies over the forthcoming years. Limited supply of raw materials, production delay by manufacturers and discontinuation of commercialized drug has led to drug shortage. Ability of compounding pharmacies to fill a gap by replicating commercial drugs in case of shortage will fuel the demand for compounded medicines thereby propelling industry growth.

Request sample copy of this report @ https://www.decresearch.com/request-sample/detail/749

However, the continuous changing regulatory norms and standards will impede the market growth to some extent. Furthermore, high cost of equipment, sterility maintenance and lack of skilled lab technicians and pharmacists will hamper the growth of compounding pharmacies market.

Topical segment will show significant growth over the forecast period owing to the rising prevalence of diabetes worldwide. Growing adoption of unhealthy dietary habits and rising prevalence of obesity are the key factors increasing prevalence of diabetes among the people that subsequently lead to increase in demand of compounded long acting and rapid acting insulin analogs. Moreover, availability of other compounded topical preparations of antidiabetic drugs such as DPP-4 inhibitors and GLP-1 agonists will further witness a significant growth in the future owing to its application in treatment of type II diabetes.

Pediatric segment is estimated to grow at a considerable rate over forecast period owing to growing awareness pertaining to compounding pharmacies and increasing infant morbidity and mortality. Furthermore, customization of medicines to formulate convenient dosage forms for children such as conversion of big, solid pills into easy-to-administer liquid dosage form, will significantly boost the segment growth during analysis period.

Make Inquiry about this report @ https://www.decresearch.com/inquiry-before-buying/749

Hormone replacement segment will grow at a faster rate during the forecast period due to increasing demand for various anti-ageing products as well hormone replacement theories among adults. Increasing focus of people on excellent quality dermatological products that are compounded as per the patients needs and requirements will further escalate hormone replacement segment growth.

U.S. compounding pharmacies market dominated the industry owing to the presence of geriatric patient pool, developed healthcare facilities and technological advancements. U.S. pharmaceutical industry has witnessed several incidences of drug shortage over the past few years. Increasing drug shortage will certainly boost demand for compounded medications.

Some of the notable industry players are Fagron, B. Braun, Fresenius Kabi, Cantrell Drug Company, McGuff, PharMEDium, Institutional Pharmacy Solutions, Triangle Compounding Pharmacies, Village Compounding Pharmacy, Pencol Compounding Pharmacy and Wedgewood Village Pharmacy. Major industry players are emphasizing on enhancing and strengthening the product portfolio. They are further focusing on partnerships and collaborations to enhance their existing systems.

Browse more reports: -

Test strips Market: - https://www.americanewshour.com/2020/03/02/outlook-of-test-strips-market-status-and-development-trends-reviewed-in-new-report/249963/

Condom Market: - https://www.americanewshour.com/2020/03/02/condom-market-statistics-and-research-analysis-released-in-latest-report/249970/

Cardiac Rhythm Management Devices Market: - https://www.americanewshour.com/2020/03/02/outlook-of-cardiac-rhythm-management-devices-market-status-and-development-trends-reviewed-in-new-report/249978/

Peripheral Interventions Market: - https://www.americanewshour.com/2020/03/02/statistics-of-peripheral-interventions-market-covering-market-size-industry-share-numbers-regional-outlook/250003/



About Author


Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for algosonline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

Read More

More from Rahul


Post Recommendents

Hotstar announces availability of Disney+ content for Indian users
Author: Saipriya Iyer

The content from Disney+, a subscription video on-demand streaming service, is officially available on Hotstar, an Indian over-the-top streaming service, after a slight delay.

Var...


Oxygen Cylinders and Concentrators Market Research Report By Current & Future Trends, Statistics To 2025
Author: Rahul Varpe

The Oxygen Cylinders and Concentrators Market is projected to expand from its present industry value of over $2.7 billion to more than $5 billion over the analysis timeframe.


According to the study with title ‘Global Oxygen...


Antidiabetics Market is set to record 10.6% CAGR during forecast time
Author: Rahul Varpe

The size of the Antidiabetics Market was accrued at USD 54.6 billion in 2017 and is presumed to accumulate over USD 110 billion by the year 2024. According to research, the Antidiabetics Market is expected to grow with a CAGR of 10.6% during the p...