The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Compounding pharmacies market is likely to witness a healthy CAGR of 5.8% during the forecast period.
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Segment Analysis
Compounding Pharmacies Market Share: By Therapeutic Area Type
Based on the therapeutic area type, the market is segmented as hormone replacement, pain management, dermatology applications, specialty drugs, nutritional supplements, and others. The hormone replacement segment is estimated to witness good growth due to the increasing hormonal imbalance in women.
Compounding Pharmacies Market Share: By Product Type
Based on the product type, the market is segmented as oral, topical, rectal, parenteral, nasal, ophthalmic, and optic. The parenteral segment is likely to grow at the highest CAGR during the forecast period, as the increasing number of patients with different chronic conditions, including cancer and diabetes are opting for parenteral administration.
Compounding Pharmacies Market Share: By Application Type
Based on the application type, compounding pharmacies market is segmented as pediatric, adult, geriatric, and veterinary. The adult segment would continue to dominate the market in the coming years as well, driven by the ability of compounding pharmacies to increase the ease of medication among adults which is facing difficulty in swallowing.
Compounding Pharmacies Market Share: By Sterility Type
Based on the sterility type, compounding pharmacies market is segmented sterile and non-sterile. The non-sterile segment is likely to witness excellent growth in the coming years, driven by the increasing demand for non-sterile medication such as syrups, capsules, and pills.
Compounding Pharmacies Market Share: By Distribution Channel Type
Based on the distribution channel type, the market is segmented as hospital pharmacy, compounding pharmacy, and others. The hospital pharmacy segment dominated the market in 2019, driven by the surging hospital admissions.
Compounding Pharmacies Market Share: By Region
In terms of regions, Europe is estimated to be the largest market, whereas Asia-Pacific would be the fastest-growing region for the compounding pharmacies market during the forecast period. Favorable reimbursement policies and the growing acceptance of compounding medication in Europe will foster the region’s overall growth. Also, technological advancements, presence of leading players, and well-established healthcare facilities will further contribute towards good growth of the market.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
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