Global Compounding Pharmacy Market Study by Factors & Challenges with Forecast to 2026
Global Compounding Pharmacy Market is valued approximately at USD 8056 million in 2018 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2019-2026. Since last few years, the development of compounding drugs has been increased in which the pharmacies have to deliver advanced compounding services to the patients. In pharmacology, compounding is the science of producing personalized medicines for patients. These drugs are prepared reliant on the physician's prescription wherein, the individual components are mixed simultaneously as per the recommended dosage form, and strength.
The competent pharmacists have a prominent role in the establishing the trust of patients on the healthcare system, reducing the risk of treatments and side effects, achieving better health outcomes, reducing treatment cost, safe access to the treatment and enhanced quality of life. Furthermore, the compounding pharmacy is more emphasized on patient- care instead of their traditional role of dispensing of medicines and improving the patient safety throughout the treatment management process.
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The regional analysis of global Compounding Pharmacy Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the shortage of drugs reported by the FDA in the U.S. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period, due to growing pharmaceutical awareness among people, along with increasing geriatric population in the emerging economies such as China and India.
Major market player included in this report are:
- Central Admixture Pharmacy Services
- Fresenius Kabi AG
- PharMEDium Services, LLC
- Institutional Pharmacy Solutions
- Cantrell Drug Company
- Triangle Compounding Pharmacies
- Lorraine’s Pharmacy
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Last Update : 05 May 2020
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|Item Owner : Vidhya Nigam|
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