{"id":50897,"date":"2022-11-15T19:02:12","date_gmt":"2022-11-15T18:02:12","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/the-worldwide-compounding-pharmacies-industry-is-expected-to-reach-14-8-billion-by-2031-researchandmarkets-com\/"},"modified":"2022-11-15T19:02:12","modified_gmt":"2022-11-15T18:02:12","slug":"the-worldwide-compounding-pharmacies-industry-is-expected-to-reach-14-8-billion-by-2031-researchandmarkets-com","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/the-worldwide-compounding-pharmacies-industry-is-expected-to-reach-14-8-billion-by-2031-researchandmarkets-com\/","title":{"rendered":"The Worldwide Compounding Pharmacies Industry is Expected to Reach $14.8 Billion by 2031 – ResearchAndMarkets.com"},"content":{"rendered":"
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DUBLIN–(BUSINESS WIRE)–The “Compounding Pharmacies Market By Therapeutic Area, By Route of Administration, By Sterility: Global Opportunity Analysis and Industry Forecast, 2021-2031”<\/a> report has been added to ResearchAndMarkets.com’s<\/strong> offering.\n<\/p>\n

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\nAccording to this report the compounding pharmacies market was valued at $8.12 billion in 2021, and is estimated to reach $14.84 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.\n<\/p>\n

\nCompounding is preparation of a custom formulation of a medication to fit a unique need of a patient that cannot be met with commercially available products. They are able to make unique medications for each person as some people need drugs that are not available on the market. Compounding pharmacies can be of assistance in this situation since there are several potential causes for this need.\n<\/p>\n

\nCompounding pharmacies can create sterile and non-sterile chemicals. While some pharmacies may provide services for both types of compounding, others may only specialize in one. Injections, ocular drops, and infusions are examples of dosage forms that contain sterile substances.\n<\/p>\n

\nThe major factors that drive the growth of the global compound pharmacies market include increase in prevalence of chronic disease, high adoption of non-sterile medication, increase in old age population and improved life expectancy. In addition, growing drug failure rate, increase in popularity of personalized medicine and massive drug shortage across the globe is further propel the market growth during forecast period.\n<\/p>\n

\nHowever, increase in restrictions on manufacturing of complex formulation is likely to restrain the growth of the compounding pharmacies market during the forecast period. Conversely, growth potential of emerging economies is anticipated to provide numerous opportunities for market growth during the forecast period.\n<\/p>\n

\nKey Benefits<\/strong>\n<\/p>\n