Compounding Pharmacies Market Share

North American Market Forecast

The North American compounding pharmacies market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037, backed by growing shortage of drugs in this region, and surge in utilization of personalized medicines. Moreover, there has been growing demand for oral medication is this region which is also estimated to boost the growth of the market. Also, the prevalence of oral disease in high in this region. The two most common oral disorders in America continue to be tooth decay  (which affects about 89% of persons aged 20 to 64) and gum disease (which affects roughly approximately 49% of adults aged 45 to 64). When compared to drugs that are taken systemically, compounded topical therapies that are locally absorbed and work only at the affected site may prove more effective while causing less systemic side effects for many disorders treated with oral medicine. Hence, its demand is growing in this region.

APAC Market Statistics

The Asia Pacific compounding pharmacies market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market in this region can be attributed to growing drug shortages, particularly those for cancer treatments and other urgent medicines. Drug shortages have been linked to production delays as well as supply chain problems, including delays in getting raw materials, which further contributed to a limited supply of pharmaceuticals. Medication shortages increase the risk of medication errors, which could also harm patient outcomes and have an impact on healthcare finances as a result of higher healthcare costs. Hence, the demand for compounding pharmacies is estimated to boost in this region. Moreover, the ageing population and longer life expectancies have caused a rise in the number of patients with hormone imbalance, which is further estimated to boost the market growth.

Europe Market Forecast

Additionally, the market in Europe region in estimated to have a significant growth over the forecast period, backed by growing geriatric population who are demanding testosterone therapy and high-quality dermatological products. Further, patients who are allergic to commercial treatments could use dermatology customized remedies. Depending on the patient's needs, compounded drugs could be created with or without specific preservatives, components, and additives, advancing the segment. A wide range of formulations, including solutions, gels, sprays, ointments, foams, and others, are available for dermatology compounding products to treat a number of skin conditions, including eczema, acne, psoriasis, and others. Thus, it is anticipated that the availability of a wide range of compounding formulations for dermatology applications would accelerate market expansion in this region