In a recent published report, Kenneth Research has updated the market report for Compounding Pharmacies Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2024, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2024. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2024. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2024. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2024 till March 2024 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Compounding Pharmacies Market products.
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Kenneth Research has recently added a report titled Compounding Pharmacies Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2024 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies and stakeholders) and secondary research, the report aims to present the analysis of Global Compounding Pharmacies Market. The report has further analysed the Compounding Pharmacies Market by By Product Type (Oral, Topical, Ophthalmic, Injectables and Others), By Therapeutic Area (Hormone Replacement, Pain Management, Dermatology and Others) and By End User (Adult, Pediatric, Geriatric and Veterinary).
The Final Report will cover the impact analysis of COVID-19 on this industry:
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The Global Compounding Pharmacies Market has been analysed By Region (North America, Europe, Asia Pacific, ROW) and By Country (United States, Canada, United Kingdom, Germany, China, Japan, India, Brazil and Mexico) for the historical period of 2014-2018 and the forecast period of 2019-2024.
Valued at approximately USD 9689.56 million in the year 2018, the global compounding pharmacies market is being influenced by several key factors such as rising share of elderly individuals, increase in per capita expenditure on healthcare as well as rising trend of adopting personalized medicines. Furthermore, increasing population growth rate with significant share of people suffering from a slew of diseases such as cancers, cardiovascular disorders, hormonal imbalances, etc., have been propelling the demand for customized pharmaceutical products that can be most effective to their individual health conditions. Furthermore, the “one-size-fits-all” characteristic of majority of mass produced drugs means that several patients’ requirements are not met. In such circumstances, the patients often rely on the services provided by the compounding pharmacies. Above and beyond, patients utilizing personalized compounded medications often experience fewer side effects than those treated with generic medications. Within the different therapeutic areas of compounded pharmaceutical products, hormone replacement therapy and pain management remained the chief money-spinning segments. On the basis of end user, the global compounding pharmacies market is dominated by adults encompassing the age group of 19 to 64 years.
The report titled has covered and analysed the potential of global compounding pharmacies market and provides statistics and information on market size, shares, market attractiveness and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation.
Scope of the Report
Global Compounding Pharmacies Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
- Global Market – Sizing, Growth, Forecast
- Analysis by Product Type – Oral, Topical, Ophthalmic, Injectables, Others
- Analysis by Therapeutic Area – Hormone Replacement, Pain Management, Dermatology, Others
- Analysis by End User – Adult, Pediatric, Geriatric, Veterinary
- Market Attractiveness of Compounding Pharmacies Market By Product, Therapeutic Area, By End-User
Regional Compounding Pharmacies Market– North America, Europe, Asia Pacific, ROW (Actual Period: 2014-2018, Forecast Period: 2019-2024)
- Regional Market – Sizing, Growth, Forecast
- Analysis by Product Type – Oral, Topical, Ophthalmic, Injectables, Others
- Analysis by Therapeutic Area – Hormone Replacement, Pain Management, Dermatology, Others
- Analysis by End User – Adult, Pediatric, Geriatric, Veterinary
- Regional Market Attractiveness of Compounding Pharmacies Market By Country
Country Analysis – United States, Canada, United Kingdom, Germany, India China, Japan, Brazil, Mexico (Actual Period: 2014-2018, Forecast Period: 2019-2024)
- Compounding Pharmacies Market – Sizing, Growth, Forecast
Other Report Highlights:
- Market Dynamics – Drivers and Restraints
- Market Trends
- Competitive Landscape, Company Share Analysis, Merger and Acquisitions of Key Industry Players
- SWOT Analysis
- Porter Five Force Analysis
- Policy and Regulatory Landscape
- Company Analysis – Fagron, PharMEDium, Dougherty’s Pharmacy, ITC Compounding Pharmacy, Fresenius Kabi, Clinigen Group, Absolute Pharmacy, McGuff Compounding Pharmacy Services, Inc., and Harrow Health, Inc.
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