The global market for sterile compounding pharmacies was estimated to be worth US$ 5.07 Bn in 2020 and has been growing at a CAGR of 5.8% during the previous five years, according to a source of market research and competitive intelligence. The U.S. slated to account for over70% of the market share.
Compounding a product is typically done in response to a patient’s sensitivity to a component in formulations or products that are readily available commercially. The COVID-19 pandemic caused hospitals to experience a severe scarcity of formulations used for pain management in 2020, according to the U.S. FDA.
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Demand for pain treatment is anticipated to increase due to the rising prevalence of chronic disorders, which will accelerate market expansion. Moreover, rising pharmaceutical spending and rising demand for custom compounded formulations are anticipated to positively affect market expansion.
Key Players Covered:
- Fresenius Kabi AG
- PharMEDium Services, LLC
- Institutional Pharmacy Solutions
- Cantrell Drug Company
- Lorraine’s Pharmacy
- B. Braun Melsungen AG Company
The Sterile Compounding Pharmacies Market research report assists companies in defining their own strategies for product creation, future product revisions, sales, marketing, promotion, and distribution in both the existing market and a potential novel market. Businesses may clearly understand what is already available, what the market presumes, the competitive climate, and what can be done to outperform the competition thanks to the research and analysis done for this study with the help of consistent knowledge. Businesses can better understand the various drivers and restraints affecting the market during the forecast period with the aid of the Sterile Compounding Pharmacies Market research study.
Key Segments as per Global Sterile Compounding Pharmacies Industry Research
By Therapeutic Area
- Hormone Replacement Therapy
- Pain Management
By End User
Some of the important questions covered in this study are as follows:
- What are the prominent growth factors that will harness growth for the Sterile Compounding Pharmacies Market during the forecast period?
- Which end-use industry will garner considerable growth for the Sterile Compounding Pharmacies Market?
- Which region will emerge as a champion growth contributor during the assessment period?
- What are the obstacles surrounding the Sterile Compounding Pharmacies Market?