Compounding Pharmacy Market Research Report and Forecast up to 2025 Compounding Pharmacy Market Growth, Trends, and Fo

Compounding
Pharmacy
Market
-
Global
Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2017 - 2025
Compounding is the science of combining and preparing personalized medicines for
patients. These medications are prepared based on the practitioner’s prescription
wherein, the individual ingredients are mixed together as per the suggested dosage
form, and strength. The trained pharmacists are approved to personalize the
medicine for the patient meeting their specific needs such as strengths, dosage
forms, flavors, and exclusion of ingredients for which the patient is allergic or
sensitive. However, compounded drugs are not FDA approved, indicating that FDA
does not inspect the safety and the effectiveness of these drugs. This responsibility
is held by the state boards of pharmacy, who verify that the state-licensed
pharmacies manufacture compound drugs comply with conditions of section 503A
of the FDCA. For the purpose of inspection, compounding pharmacies are
segmented into sterile and non-sterile facilities.
The growing patent expiries is one of the primary growth driving factor in the
compounding pharmacy market. The shortage of drugs in the U.S. as reported by
the U.S. FDA and also the similar shortages globally; the various advantages of
compounding drugs such as the customization according to the patients’ needs
contribute to the growth of the market. However, lack of efficient regulations in
place in various regions, might lead to adulterated drugs being sold in the market,
which might negatively impact the market.
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The compounding pharmacy market can be segmented on the basis of product
type, therapeutic area, distribution channel, and region. On the basis of product
type, the compounding pharmacy market can be segmented into oral medications,
topical medications, suppositories, and others. The oral medications can be further
segmented into capsules, tablets, suspensions, lozenges, and others. The topical
medications can be further segmented into creams, gels, ointments, and others. On
the basis of therapeutic area, the market can be segmented into pain medications,
hormone replacement therapies, dermatological applications, and others. On the
basis of distribution channel, the market can be segmented into compounding
pharmacies, and traditional stores. On the basis of product type, topical medications
are anticipated to record significant growth in the forecast period, owing to the
growing demand for dermatological applications and rising market for hormone