Compounding Pharmacies Market to Record Robust Growth Rate in the Next 10 Years

10/giu/2020 10:20:21 persistencemarketresearch Contatta l'autore

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New York City, United States -- Since the COVID-19 infection flare-up in December 2019, the malady has spread to right around 100 nations around the world with the World Health Organization proclaiming it a general wellbeing crisis. The worldwide effects of the coronavirus sickness 2019 (COVID-19) are now beginning to be felt, and will essentially influence the Healthcare Industry in 2020.

 

Compounding pharmacies are one of the growing trends in the health industry owing to the rise in aging population and increasing prevalence of chronic diseases. Compounding pharmacies play an important role in the testing and development of drugs.

Compounding pharmacists are currently involved in testing and development of new drug formulations to ensure the safety of the drug for patients. Pharmaceutical companies and physicians are focusing on compounding pharmacies to introduce new drugs in the market and also to recreate commercially available drugs with new formulations.

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Company Profiles

  • B. Braun Melsungen AG Company.
  • Fagron.
  • PharMEDium Services, LLC.
  • Institutional Pharmacy Solutions.
  • Cantrell Drug Company.
  • Triangle Compounding Pharmacies.
  • Lorraine’s Pharmacy.
  • Fresenius Kabi AG

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Increasing number of patients with special pharmaceutical needs are driving the growth of the global compounding pharmacies market. Compounding pharmacies are also focusing on sterile composition. This calls for in-depth knowledge on medication in order to select the most suitable components while preparing the medicines. Women’s health, dermatology, pediatrics, and sports medicine are adopting sterile compounding to offer the perfect combination of medications.

However, owing to the cases of contaminated prescriptions is emerging as a challenge in the compounding pharmacies. The regulatory bodies are also focusing on introducing stringent regulation on the compounding pharmacies. Meanwhile, lack of skilled professionals is resulting in the increased risk of producing improper compounded medicines.

As per the study by Persistence Market Research (PMR), the global compounding pharmacies market is expected to see a strong growth during 2017-2025. By the end of 2025, the global market for compounding pharmacies is estimated to exceed US$ 13,300 Million in terms of revenue.

Oral Medication to be Highly Preferred in the Global Compounding Pharmacies Market

On the basis of product type, oral medication including tablets, capsules, lollipops, mixtures, and lozenges are likely to witness the highest growth during 2017-2025. Oral medication is projected to surpass US$ 6,300 Million revenue by 2025 end.

Based on the application, compounding pharmacy products are expected to find large application in medication for adults, followed by medication for children. By 2025 end, medication for adults is estimated to bring in close to US$ 7,600 Million revenue.

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