The Compounding Pharmacies Market Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Compounding Pharmacies Market size was estimated to be US$ 9 billion in 2019 and is expected to grow at a CAGR of 5% through 2030. Compounding Pharmacists are certified to formulate customized drugs in order to cater to the patient’s specific requirement. The compounding pharmacies address the niche category of users who are either allergic to certain ingredients, for example lactose, alcohol, gluten etc. or they do not respond to the prescribed medicines and have to adopt a different form of treatment. Anciently all the medication were compounded, however, with influx of mass drug manufacturing process the demand for compounding started declining. There has been resurgence of compounding pharmacies, though. The benefits of compounding pharmacy have encouraged the pharmacists to reach the intended users. There have been instances when Tier I drug producers have discontinued production of certain drugs which were prescribed to patients. Compounding pharmacies have filled in this gap by producing the required drugs. Besides the discontinued drugs, the compounding pharmacies also serve the patients who prefer medication in specific flavour and form. The FDA extended COVID-19 drug compounding policy to include smaller compounders. This inclusion was announced with an intention to better serve patients fighting against the novel coronavirus disease.
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