ID: MRFR/Pharma/3248-CR | 101 Pages | Published By Rahul Gotadki on October 2017
Market Synopsis of the U.S. & Europe Non-Sterile Compounding Pharmacy Market
The Non-Sterile Compounding Pharmacy Market is projected to reach USD 7,637.2 Million by 2030 at 5.7% CAGR during the forecast period 2022-2030.The U.S. Pharmacopeia Convention (USP) formally defines compounding as ‘the preparation, mixing, assembling, altering, packaging, and labelling of a drug, drug-delivery device in accordance with a licensed practitioner's prescription, medication order, or initiative based on the practitioner/patient/ pharmacist/compounder relationship in the course of professional practice.’ Products manufactured by a compounding pharmacy are customized according to the patient need.
The market for non-sterile compounding pharmacy is driven by an increasing prevalence of chronic diseases such as diabetes, rising need for customized medicine and increasing geriatric population. Furthermore, the demand for anti-aging products that use custom compounded drugs is growing in the U.S. and Europe. However, the strict regulations governing the manufacturing of the compounded product and high prices restrain the market growth.
FIGURE 1: U.S. & Europe Non-sterile Compounding Pharmacy Market by Application, 2016 (%) Source: World Health Organization, Centers for Disease Control and Prevention, European Society of Clinical Microbiology and Infectious Diseases, U.S. National Library of Medicine, National Organization for Rare Disorders, The American Autoimmune Related Diseases Association, The International Society for Human and Animal Mycology, Expert Interview Market Research Future Analysis, Annual report, White paper, Company Presentation
Key Players in the U.S. & Europe non-sterile compounding pharmacy market
Fagron (the Netherlands), B.Braun Melsungen AG (Germany), Fresenius Kabi AG (Germany), TRUE NATURE HOLDING, INC (U.S), Dougherty's Pharmacy Inc. (U.S.) and PHARMEDIUM (U.S.).
Segments
The U.S. & Europe non-sterile compounding pharmacy market is segmented into product, application, and end user.
By type, the market is segmented into oral medication, topical medication, otologic/nasal medication, and others. The oral medications are further segmented into solid and liquid preparations. The topical medications include ointments, creams, gels, pastes, and others.
By application, the Non-Sterile Compounding Pharmacy Market is segmented into pain medication, hormone replacement therapy, and others.
By end user, the market is segmented into hospitals, compounding pharmacy and others.
Key Findings:
Research Methodology Source: World Health Organization, Centers for Disease Control and Prevention, European Society of Clinical Microbiology and Infectious Diseases, U.S. National Library of Medicine, National Organization for Rare Disorders, The American Autoimmune Related Diseases Association, The International Society for Human and Animal Mycology, Expert Interview Market Research Future Analysis, Annual report, White paper, Company Presentation
Research Methodology Source: World Health Organization, Centers for Disease Control and Prevention, European Society of Clinical Microbiology and Infectious Diseases, U.S. National Library of Medicine, National Organization for Rare Disorders, The American Autoimmune Related Diseases Association, The International Society for Human and Animal Mycology, Expert Interview Market Research Future Analysis, Annual report, White paper, Company Presentation
Intended Audience
Regional Analysis of the Non-Sterile Compounding Pharmacy Market   Â
America is holding the first position in the Non-Sterile Compounding Pharmacy Market owing to the rising demand for customized medicine, increasing prevalence of chronic diseases such as diabetes, and rising number of hospital-based compounding pharmacies. As per the Center for Diseases Control and Prevention (CDC) in 2015, 30.3 million Americans, i.e. 9.4% of the population had diabetes. Additionally, 1.25 million American children and adults had type 1 diabetes.
Europe is the second largest non-sterile compounding pharmacy market across the globe. In Europe, growing awareness about compounding pharmaceutical products for the treatment of chronic diseases such as diabetes, drug allergies, and increasing number of prescriptions for the compounded medications propel the growth of the market. According to the European Academy of Allergy and Clinical Immunology (EAACI), around 2.6% hospitalization happens due to adverse drug effects, while the prevalence of drug allergy in the hospitalized patients is about 10% in the Europe.