Compounding Pharmacies Market to Reach $14.84 Bn, Globally, by 2031 at 6.2% CAGR: Allied Market Research – QNT Press Release


Rise in prevalence of chronic disease, increase in old age population, and improved life expectancy drive the growth of the global compounding pharmacies market.

PORTLAND, Ore., Aug. 5, 2022 /PRNewswire/ — Allied Market Research published a report, titled, Compounding Pharmacies Market by Therapeutic Area (Pain Management, Hormone Replacement Therapy, Dermal Disorders, Nutritional Supplements, Others), by Route of Administration (Oral, Topical, Others), by Sterility (Non-Sterile Compounding Drugs, Sterile Compounding Drugs): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global compounding pharmacies industry was estimated at $8.12 billion in 2021, and is anticipated to hit $14.84 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape.

Download Report (245 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/12285

Drivers, restraints, and opportunities-

Rise in prevalence of chronic disease, increase in old age population, and improved life expectancy drive the growth of the global compounding pharmacies market. At the same time, growing drug failure rate and massive drug shortage across the globe have supplemented the growth yet more. On the other hand, increase in restrictions on manufacturing of complex formulations hinders the growth to some extent. However, huge growth potential in emerging economies has been highly beneficial for the market.

Covid-19 scenario-

  • Amidst the global health crisis, the demand for compounded medication witnessed a steep incline in 2021, due to increased demand for quite a lot of medications for the treatment of Covid-19.
  • Reduced manufacturing activities due to restrictions and shortage of commercially available drugs gave way to increased adoption of a compounded medication.
  • Moreover, FDA gave out a temporary guidance policy to the federal facilities and state-licensed pharmacies, comprising hospital pharmacies and compounding pharmacies that are not listed with FDA as outsourcing facilities for compounding certain medication for hospitalized patients, owing to shortage of generic drugs.

Specific Requirement on COVID-19? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/request-for-customization/12285?reqfor=covid

The pain management segment to dominate by 2031-

By therapeutic area, the pain management segment contributed to nearly two-fifths of the global compounding pharmacies market share in 2021, and is expected to lead the trail by 2031. This is attributed to rise in number of geriatric populations, increase in number of surgical procedures, and surge in healthcare expenditure across the world. The others segment, however, is expected to exhibit the fastest CAGR of 7.3% from 2022 to 2031due to rise in prevalence of neurological disorders and cancer cases.

The oral segment to rule the roost-

Based on route of…

Full story available on Benzinga.com



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