Global Sterile Compounding Pharmacies Market Scope 2024, Forecast To 2033
8 Mar, 2024
The sterile compounding pharmacies market has seen strong growth, increasing from $4.99 billion in 2023 to $5.3 billion in 2024, achieving a 6.4% CAGR. This growth is driven by patient safety concerns and a shift towards personalized medicine. Predicted to grow to $6.7 billion in 2028, with a 6.0% CAGR, the market's expansion will be attributed to rising chronic diseases and advancements in precision medicine. Major trends include automation integration and personalized medicine.
Global Sterile Compounding Pharmacies Market Key Driver
The sterile compounding pharmacies market is witnessing growth due to increasing demand for personalized medicine. Personalized medicine, tailored to individual patient needs, relies on sterile compounding pharmacies for customized medication formulations. Notably, data from the Personalized Medicine Coalition underscores the rising prominence of personalized medicines, reflecting advancements in healthcare. This increasing demand for personalized medicine is driving growth in the sterile compounding pharmacies market as healthcare providers prioritize patient-centric care.
Get A Free Sample Of The Global Sterile Compounding Pharmacies Market ReportGlobal Sterile Compounding Pharmacies Market Segments
The sterile compounding pharmacies market covered in this report is segmented –
1) Product:Injectables, Nasal, Ocular, Otic
2) Therapeutic Area:Hormone Replacement Therapy, Pain Management, Dermatology, Oncology, Hematology, Dental, Other Therapeutic Areas
3) Route of Administrations:Intravenous, Intramuscular, Subcutaneous
4) End-Users:Adults, Pediatrics, Geriatrics, Veterinary
By Geography: The countries covered in the sterile compounding pharmacies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the dominant region in the sterile compounding pharmacies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sterile compounding pharmacies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Sterile Compounding Pharmacies Industry Players
B. Braun SE; PharMerica Corporation; Fagron Group BV; QuVa Pharma Inc.; NewCo Pharma GmbH; Medisca; PharMEDium Healthcare Holdings Inc.; Central Admixture Pharmacy Services (CAPS); SandsRx LLC; LeeSar Inc.; Avella Specialty Pharmacy; Stokes Pharmacy Inc.; Imprimis Pharmaceuticals Inc.; Wells Pharmacy Network LLC; McGuff Compounding Pharmacy Services Inc.; Potter's House Apothecary Inc.; Pharos Innovations LLC; Triangle Compounding Pharmacy Inc.; Valor Compounding Pharmacy Inc.; Pace Pharmacy; PenCol Specialty Pharmacy LLC; Pavilion Compounding Pharmacy LLC; Olympia Pharmacy; MedisourceRx; Stat RX Pharmacy; Rx3 Compounding Pharmacy; Atlas Pharmaceuticals Co. Ltd.; ReNue Rx; Premier Pharmacy Labs Inc.; Absolute Pharmacy Inc.
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Sterile Compounding Pharmacies Market Overview
Sterile compounding pharmacies are specialized pharmacies that prepare customized medications in a sterile environment to offer tailored medication to individuals to their specific needs. This can be beneficial to people for several reasons such as patient intolerance to a particular commercial dose or an intolerance to a specific constituent. This compounding allows patients to get drugs with customized doses and formulations that eliminate non-essential and undesirable components.