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Research Reports

The Compounding Pharmacies Market is expected to witness a strong In Upcoming Years. The ongoing trend speaks of digital transformation. In other words, it’s about the provision of digital solutions being tabled all across. The big thing is that the key stakeholders can’t afford to keep digital technology in a silo. Unification is the need of the hour so that anytime-anywhere access is possible. The enterprise is slated to move with the same mindset in the forecast period.

Compounding pharmacies produce personalized medicines that can be altered by dosages, medicinal strengths, forms, and medium of administration, under the guidance of licensed pharmacists and physicians. The market for compounding pharmacies – though shrouded by regulatory restrictions and product quality conformations – presents a lucrative opportunity, as compounded drugs offer ease of accessibility, affordability, and administration to potential customers.

According to the latest market report published by Persistence Market Research on the global compounding pharmacies market, this industry is set to more than double its value over the next ten years, and cross US$ 19 Bn by 2030-end.

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Companies covered in Compounding Pharmacies Market Report

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Key Takeaways from Compounding Pharmacies Market Study

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“Due to the rampant spread of COVID-19 across the world, physician visits and hospitalization for other reasons have seen a sharp decline. As a result, the global compounding pharmacies market will experience short-term negative growth over these months,” says a PMR analyst.

What Does the Future Hold?

The use of compounded drugs has been increasing at 3–6% globally, driven by shortage of essential medicines for critical diseases such as cardiovascular disease, cancer, diabetes, Lyme disease, and tuberculosis. This prompts the use of readily-available compounded medications, be it from a registered or unregistered facility, improves instant accessibility to drugs. Medicinal drought is more prominent in the U.S. as compared to other regions. The global compounding pharmacies market is set for decent growth due to factors such as upcoming products and therapeutic areas, diversification of services, increasing FDA compliance, rising incidence of medicinal drought of prescription medications, upsurge in demand for topical drugs, and the availability of these drugs in alternate dosage forms and combined formulations.

What Else is in the Report?

Persistence Market Research offers a unique perspective and actionable insights on the compounding pharmacies market in its latest study, presenting historical demand assessment of 20152019 and projections for 20202030, based on product type (oral medication, topical medication, mouthwashes, and suppositories), application (medication for adults, medication for veterinary, medication for children, and medication for geriatrics), and therapeutic area (pain management and hormone replacement therapy), across seven key regions.

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