Persistence Market Research (PMR) projects the growth trajectory of the global market for compounding pharmacies over the forthcoming years. The report titled as, "Global Market Study on Compounding Pharmacies: Oral Medication Anticipated to Remain the Most Favored Drug Type Through 2025," provides in-depth analysis of the global market. This study is created by extensive research of the market. Various perspective of the market have been expounded to help readers get a strong understanding of the market. To increase the readability of the report, numerous tables and diagrams have been included. The proven methodologies followed for the collection of data have made the market numbers reliable and accurate to help market investors increase their profits in the market.
The global compounding pharmacies market is forecasted to be worth US$ 13,366.5 Mn by 2025 end and is expected to increase at a CAGR of 7.5% throughout forecast period. North America is the largest regional market accounting for 66.6% market share in 2016 and is expected to grow at a CAGR of 7.6%.
Compounding is the science of preparing and combining personalized medicines for consumers. In this practice, the individual ingredients are mixed with each other according to the suggested prescription to increase the effectively of the medication. The trained pharmacists are licensed to personalize the medicines according to the needs and strengths of patients. This allows pharmacists to allot medicines that are suitable to the patients and exclude ingredients that are allergic to the patients. However, these drugs are not approved by FDA as FDA does not inspect the effectiveness and the safety of compounded drugs. The state boards of pharmacy holds this responsibility. Increasing drug shortage owing to manufacturing and quality issues are expected to augments the market growth of compounding pharmacies. The report provides definition compounding pharmacy, which is expected to help readers to understand the market more effectively. The trends that are affecting the market growth are also added in the report. Understanding these trends will help market players to explore growth opportunities in the market. Furthermore, the factors that can limit the market growth are incorporated to warn the players about several pitfalls present in the market.
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The global compounding pharmacies market has been segmented on the basis of various categories to present significant detail of the market. Understanding these segments and the factors affecting these segments will allow readers to receive valuable knowledge of about the market. Market values for these sectors have been estimated, which makes it easy for the readers to compare growth projected by these segments. This can help market players to invest in the most lucrative divisions of the market, or choose the most trouble free segment. The market can be segmented on categories such as distribution channel, therapeutic area, and product type.
The report also covers geographical analysis of the compounding pharmacy market to deliver comprehension about regional behavior of the market. In this study, the global market is split into key regions such as the Middle East & Africa, Europe, Asia Pacific, Latin America, and North America. Owing to the developed healthcare infrastructure and contribution of the U.S., the North America segment is most likely to dominate global market. On the contrary, Asia Pacific is foreseen to showcase highest CAGR growth over the forecast period due to increasing population and developing infrastructure. The envisioned growth rate by each of these key regions have been included.
Leading Companies in the Global Compounding Pharmacies Market
Some key players in the global compounding pharmacies market across the value chain are B. Braun Melsungen AG Company, Fagron, PharMEDium Services, LLC, Institutional Pharmacy Solutions, Cantrell Drug Company, Lorraine’s Pharmacy, and Fresenius Kabi AG. The report identifies company specific strategies related to product development, market consolidation initiatives and analysis of companies’ specific strengths, weaknesses, opportunities and threats.