What is Global Compounding Pharmacy Market?
The Global Compounding Pharmacy Market is a sector of the pharmaceutical industry that focuses on the creation of personalized medications to meet the unique needs of individual patients. These pharmacies combine, mix, or alter ingredients to create medications that are specifically designed for each patient. This is often done when the required dosage or form of a medication is not commercially available, or if a patient is allergic to certain ingredients in standard medications. The market is growing due to an increase in the aging population, a rise in the incidence of chronic and life-threatening diseases, and a growing awareness of personalized medicines. However, the market also faces challenges such as stringent regulations and high operational costs. Despite these challenges, the market is expected to grow due to the increasing demand for personalized medicines and the advancements in technology that make compounding more efficient and effective.
PIA, PAA, CUPM, PDA, SAPM in the Global Compounding Pharmacy Market:
PIA, PAA, CUPM, PDA, and SAPM are all important aspects of the Global Compounding Pharmacy Market. PIA, or Personalized Ingredient Addition, is the process of adding specific ingredients to a medication to meet the unique needs of a patient. This can include altering the dosage, form, or ingredients of a medication. PAA, or Patient Allergy Adjustment, is the process of altering a medication to remove ingredients that a patient is allergic to. CUPM, or Customized Unique Patient Medication, is the creation of a completely unique medication for a patient. This is often done for patients with rare or complex conditions that require a specific combination of ingredients. PDA, or Patient Dosage Adjustment, is the process of altering the dosage of a medication to meet the specific needs of a patient. Finally, SAPM, or Specialized Advanced Pharmacy Manufacturing, is the use of advanced technology and techniques to create personalized medications. These aspects of the market are all important in ensuring that patients receive the best possible care and treatment.
Consumers Aged 18 and Younger, Consumers Aged 19 to 44, Consumers Aged 45 to 64, Consumers Aged 65 and Older in the Global Compounding Pharmacy Market:
The Global Compounding Pharmacy Market is used by a wide range of consumers, from children to the elderly. For consumers aged 18 and younger, compounding pharmacies can create medications in forms that are easier for children to take, such as liquid or chewable forms. They can also alter the dosage of a medication to meet the specific needs of a child. For consumers aged 19 to 44, compounding pharmacies can create personalized medications for a variety of conditions, from chronic diseases to reproductive health issues. For consumers aged 45 to 64, compounding pharmacies can create medications for conditions that are common in middle age, such as heart disease and arthritis. Finally, for consumers aged 65 and older, compounding pharmacies can create medications for conditions that are common in old age, such as Alzheimer's disease and osteoporosis. In all these cases, the goal is to create a medication that is specifically designed to meet the unique needs of each patient.
Global Compounding Pharmacy Market Outlook:
The Global Compounding Pharmacy Market is expected to grow from a value of US$ 11910 million in 2022 to US$ 13970 million by 2029, with a Compound Annual Growth Rate (CAGR) of 2.7% during the forecast period of 2023-2029. This growth is driven by a variety of factors, including an increase in the aging population, a rise in the incidence of chronic and life-threatening diseases, and a growing awareness of personalized medicines. In terms of product, PIA is the largest segment, accounting for over 30% of the market. This reflects the importance of personalized ingredient addition in the compounding pharmacy market, as it allows for the creation of medications that are specifically designed to meet the unique needs of each patient.
| Report Metric | Details |
| Report Name | Compounding Pharmacy Market |
| Accounted market size in 2022 | US$ 11910 in million |
| Forecasted market size in 2029 | US$ 13970 million |
| CAGR | 2.7% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | PharMEDium Services, B. Braun Group, Fagron, Wedgewood Pharmacy, New Compounding Pharma, Medisca, Fresenius Kabi, Advanced Pharma, AIN GROUP, Nihon Chouzai, Sogo Medical, Dougherty’s Pharmacy, Apollo Pharmacy, Downing Labs, Qol Holdings, Olympia Pharmacy, PUMCH, Triangle Compounding Pharmacy, Peking University First Hospital, Affiliated Hospital of Guangdong Public Institution of Medicine, Lorraine's Pharmacy, PLAGH, Institutional Pharmacy Solutions, Ruijin Hospital, Belle Sante, Byculla Pharmacy&Stores, Royal Chemists, Village Compounding Pharmacy, Specialist Pharmacy |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
