Compounding Pharmacies Market: By Product Type, By Therapeutic Area, By Application, By Distribution Channel, and Geography
Compounding Pharmacies Market size was valued at US$ 9.4 billion in 2023 and is poised to grow at a CAGR of 6.2.% from 2024-2030. Moreover, the convenience with the compounded medicines such as required dose for patients and convenient dosage form is anticipated to upsurge the revenue of compounded pharmacies market. Similarly, availability of compounding medicines in wide therapeutic areas, rise in awareness among healthcare professionals, and compounding of multi-component drugs also expected to boost the compound pharmacies market. Furthermore, acquisitions, mergers, and collaborations between the players of the market oxy-fuel combustion technology the revenue of compounded pharmacies market growth.
Compounding Pharmacies Market combine and prepare the personalized medicine by a licensed pharmacist or under guidance of physicians. These medicines are compounded by altering, mixing, or combining the active pharmaceutical ingredients with suitable additives in appropriate concentrations. These drugs can be prepared with or without prescriptions. However, these drugs are not approved by regulatory agencies and do not verify the effectiveness and safety of drugs. Compounded drugs are not covered by reimbursement schemes or any other pharmaceutical benefit agencies. The ageing population and improved life expectancy are offering significant market growth potential. Compounding pharmacies will also be in high demand because to the rising rate of drug failure and the global drug scarcity. Furthermore, higher acceptance of compounded medications will be pushed by increased understanding of the benefits of compounded medications.
Study Period
2024-2030Base Year
2023CAGR
6.2%Largest Market
North AmericaFastest Growing Market
Europe
Patent expiration of various blockbuster drugs, increase in demand for the regenerative compounded medicines, availability of compounded drugs in multi-ingredient combinations for various therapeutic areas such as hormone replacement therapy and dermatology, and various advantages with compounded medicines such as dosage according to patient need are anticipated to fuel the compounded pharmacies market. Moreover, high cost of branded prescription drugs, rise in medicinal droughts of the prescription medicine, and availability in alternate dosage forms such as lozenges and liquids to overcome the drug administration difficulties are expected to boost the market. However, the lack of skilled staff, adverse effects associated with improperly compounded medications, and high cost of maintenance for sterile area and equipment are expected to impede the growth of the market.
Geographically, compounded pharmacies market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America compounding pharmacies market accounted for significant share owing to shortage of drugs reported by FDA, rise in awareness about compounded drugs, and high cost of prescription drugs in the region. Europe compounding pharmacies market growth driven by expansion of business by market players in Europe region, availability of skilled professionals, and patent expiration of various drugs. Asia Pacific compounding pharmacies market has a lucrative growth owing to increase in automation in compounding pharmacies in Japan, increase in geriatric population in China, India, and Japan, and promotion of innovative therapies and product formulations by means of compounding. Latin America compounding pharmacies market characterized by few compounding pharmacies in Mexico and large unmet medical needs in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 9.4 billion |
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Market CAGR |
6.2% |
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By Product Type |
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By Therapeutic Area |
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By Application |
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By Distribution Channel |
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The compounding pharmacies market size was valued at US$ 9.4 billion in 2023.
Shortage of Drugs and Rising Geriatric Population
Europe is the fastest-growing for compounding pharmacies market
| 1.Executive Summary |
| 2.Global Compounding Pharmacies Market Introduction |
| 2.1.Global Compounding Pharmacies Market - Taxonomy |
| 2.2.Global Compounding Pharmacies Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Therapeutic Area |
| 2.2.3.Application |
| 2.2.4.Distribution Channel |
| 2.2.5.Region |
| 3.Global Compounding Pharmacies Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Compounding Pharmacies Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Compounding Pharmacies Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Oral |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Topical |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Mouthwashes |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Suppositories |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6.Global Compounding Pharmacies Market By Therapeutic Area, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Hormone Replacement Therapy |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Pain Medications |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Dermatological Conditions |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7.Global Compounding Pharmacies Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Children Drugs |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Adult Drugs |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Geriatric Drugs |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Veterinary Drugs |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 8.Global Compounding Pharmacies Market By Distribution Channel, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Traditional Stores |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Compounding Pharmacies |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 9.Global Compounding Pharmacies Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific (APAC) |
| 9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Middle East and Africa (MEA) |
| 9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Latin America |
| 9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 10.North America Compounding Pharmacies Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Oral |
| 10.1.2.Topical |
| 10.1.3.Mouthwashes |
| 10.1.4.Suppositories |
| 10.2. Therapeutic Area Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Hormone Replacement Therapy |
| 10.2.2.Pain Medications |
| 10.2.3.Dermatological Conditions |
| 10.2.4.Others |
| 10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Children Drugs |
| 10.3.2.Adult Drugs |
| 10.3.3.Geriatric Drugs |
| 10.3.4.Veterinary Drugs |
| 10.4. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Traditional Stores |
| 10.4.2.Compounding Pharmacies |
| 10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1.United States of America (USA) |
| 10.5.2.Canada |
| 11.Europe Compounding Pharmacies Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Oral |
| 11.1.2.Topical |
| 11.1.3.Mouthwashes |
| 11.1.4.Suppositories |
| 11.2. Therapeutic Area Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Hormone Replacement Therapy |
| 11.2.2.Pain Medications |
| 11.2.3.Dermatological Conditions |
| 11.2.4.Others |
| 11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Children Drugs |
| 11.3.2.Adult Drugs |
| 11.3.3.Geriatric Drugs |
| 11.3.4.Veterinary Drugs |
| 11.4. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.Traditional Stores |
| 11.4.2.Compounding Pharmacies |
| 11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1.Germany |
| 11.5.2.France |
| 11.5.3.Italy |
| 11.5.4.United Kingdom (UK) |
| 11.5.5.Spain |
| 12.Asia Pacific (APAC) Compounding Pharmacies Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Oral |
| 12.1.2.Topical |
| 12.1.3.Mouthwashes |
| 12.1.4.Suppositories |
| 12.2. Therapeutic Area Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Hormone Replacement Therapy |
| 12.2.2.Pain Medications |
| 12.2.3.Dermatological Conditions |
| 12.2.4.Others |
| 12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Children Drugs |
| 12.3.2.Adult Drugs |
| 12.3.3.Geriatric Drugs |
| 12.3.4.Veterinary Drugs |
| 12.4. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.Traditional Stores |
| 12.4.2.Compounding Pharmacies |
| 12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1.China |
| 12.5.2.India |
| 12.5.3.Australia and New Zealand (ANZ) |
| 12.5.4.Japan |
| 12.5.5.Rest of APAC |
| 13.Middle East and Africa (MEA) Compounding Pharmacies Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Oral |
| 13.1.2.Topical |
| 13.1.3.Mouthwashes |
| 13.1.4.Suppositories |
| 13.2. Therapeutic Area Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Hormone Replacement Therapy |
| 13.2.2.Pain Medications |
| 13.2.3.Dermatological Conditions |
| 13.2.4.Others |
| 13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Children Drugs |
| 13.3.2.Adult Drugs |
| 13.3.3.Geriatric Drugs |
| 13.3.4.Veterinary Drugs |
| 13.4. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Traditional Stores |
| 13.4.2.Compounding Pharmacies |
| 13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1.GCC Countries |
| 13.5.2.South Africa |
| 13.5.3.Rest of MEA |
| 14.Latin America Compounding Pharmacies Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 14.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1.Oral |
| 14.1.2.Topical |
| 14.1.3.Mouthwashes |
| 14.1.4.Suppositories |
| 14.2. Therapeutic Area Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1.Hormone Replacement Therapy |
| 14.2.2.Pain Medications |
| 14.2.3.Dermatological Conditions |
| 14.2.4.Others |
| 14.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1.Children Drugs |
| 14.3.2.Adult Drugs |
| 14.3.3.Geriatric Drugs |
| 14.3.4.Veterinary Drugs |
| 14.4. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1.Traditional Stores |
| 14.4.2.Compounding Pharmacies |
| 14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1.Brazil |
| 14.5.2.Mexico |
| 14.5.3.Rest of LA |
| 15. Competition Landscape |
| 15.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 15.2.1.Braun Melsungen AG (Germany) |
| 15.2.2.Institutional Pharmacy Solutions, LLC (U.S.) |
| 15.2.3.Fresenius Kabi AG (Germany) |
| 15.2.4.PharMEDium Services, LLC (U.S.) |
| 15.2.5.Fagron (Belgium) |
| 15.2.6.Cantrell Drug Company (U.S.) |
| 15.2.7.Pencol Compounding Pharmacy (U.S.) |
| 15.2.8.Imprimis Pharmaceuticals, Inc. (U.S.) |
| 15.2.9.Panaceutics, Inc. (U.S.) |
| 16. Research Methodology |
| 17. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.
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