Compounding Pharmacies Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global compounding pharmacies market is witnessing substantial growth, with revenue reaching approximately US$ 11 billion in 2024. It is projected to reach valuation of US$ 24 billion by the end of 2031, according to the latest market analysis by Fairfield Market Research.
Understanding Compounding Pharmacies
Compounding pharmacies have a rich history dating back to the 19th century when physicians prescribed and formulated drugs uniquely tailored to individual patient needs. Over time, the practice of medicine and pharmacy has diverged, with most medications now mass-produced. However, compounding pharmacies still play a crucial role in creating customized doses, components, and forms of medications to meet specific patient requirements.
Key Market Drivers
Pharmaceutical R&D: Ongoing pharmaceutical research and development efforts to create drugs in novel forms, media, and doses present significant growth opportunities for market participants. The increasing acceptance of veterinary and animal pharmaceutical compounding, particularly in Europe and North America, will benefit manufacturers.
Hybrid Retail Strategies: Compounding pharmacies are expanding beyond their traditional compounding departments and adopting hybrid retail strategies to reduce errors associated with sterile compounding. Market participants are focusing on non-sterile compounding to enhance their revenue.
Global Expansion: Major players in the compounding pharmacies market are concentrating on global expansion, introducing innovative products, and forming strategic partnerships. Regulatory approvals for new drug applications and business collaborations are expected to drive sales.
Market Challenges
Production Limitations: The improper compounding practices, including contamination during the compounding process and non-compliance with Good Manufacturing Practices (GMP) regulations, hinder the utilization of compounded drugs, especially in the case of sterile compounding. Regulatory pressures and increased scrutiny on sterile compounding are challenges faced by the industry.
Regional Insights
Booming U.S. Market: The United States is experiencing a thriving compounding pharmacies market due to the increasing prevalence of skin disorders, such as dermatitis and melanoma. Factors contributing to this growth include poor skincare practices, unhealthy dietary habits, and a family history of skin conditions.
Potential in Germany: Germany holds promise as a lucrative market due to the rising life expectancy and a growing geriatric population base.
Emerging Market in Australia: The Australian market is emerging as prominent for compounding pharmacies due to the increasing number of women seeking hormone-related treatment. Compounding pharmacists are assisting women in obtaining bio-identical hormone replacement prescriptions that closely mimic the body's natural hormone balance.
Competitive Landscape
Partnerships and acquisitions are key strategies employed by compounding pharmacies to gain a competitive edge in the market. These initiatives enable companies to combine resources and ensure the sustainability of their businesses.
Market Segmentation
Product:
• Oral Medication
Capsules
Tablets
Mixtures
Lollipops
Lozenges
• Topical Medications
Gels
Ointments
Cream
Lotions
• Mouthwashes
• Suppositories
Application:
• Medication for Adults
• Medication for Veterinary
• Medication for Children
• Medication for Geriatric
Therapeutic Area:
• Pain Management
• Hormone Replacement Therapy
Region:
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa
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- 1. Executive Summary
- 1.1. Global Compounding Pharmacies Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, by Value, 2023
- 1.5. Analyst Recommendations
- 2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.3. Value Chain Analysis
- 2.4. Porter’s Five Forces Analysis
- 2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
- 2.6. Impact of Ukraine-Russia Conflict
- 2.7. Economic Overview
- 2.7.1. World Economic Projections
- 2.8. PESTLE Analysis
- 3. Global Compounding Pharmacies Market Outlook, 2018 – 2031
- 3.1. Global Compounding Pharmacies Market Outlook, by Product, Value (US$ Bn), 2018 – 2031
- 3.1.1. Key Highlights
- 3.1.1.1. Oral Medication
- 3.1.1.1.1. Capsules
- 3.1.1.1.2. Tablets
- 3.1.1.1.3. Mixtures
- 3.1.1.1.4. Lollipops
- 3.1.1.1.5. Lozenges
- 3.1.1.2. Topical Medications
- 3.1.1.2.1. Gels
- 3.1.1.2.2. Ointments
- 3.1.1.2.3. Cream
- 3.1.1.2.4. Lotions
- 3.1.1.3. Mouthwashes
- 3.1.1.4. Suppositories
- 3.2. Global Compounding Pharmacies Market Outlook, by Application, Value (US$ Bn), 2018 – 2031
- 3.2.1. Key Highlights
- 3.2.1.1. Medication for Adults
- 3.2.1.2. Medication for Veterinary
- 3.2.1.3. Medication for Children
- 3.2.1.4. Medication for Geriatric
- 3.3. Global Compounding Pharmacies Market Outlook, by Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 3.3.1. Key Highlights
- 3.3.1.1. Pain Management
- 3.3.1.2. Hormone Replacement Therapy
- 3.4. Global Compounding Pharmacies Market Outlook, by Region, Value (US$ Bn), 2018 – 2031
- 3.4.1. Key Highlights
- 3.4.1.1. North America
- 3.4.1.2. Europe
- 3.4.1.3. Asia Pacific
- 3.4.1.4. Latin America
- 3.4.1.5. Middle East & Africa
- 4. North America Compounding Pharmacies Market Outlook, 2018 – 2031
- 4.1. North America Compounding Pharmacies Market Outlook, by Product, Value (US$ Bn), 2018 – 2031
- 4.1.1. Key Highlights
- 4.1.1.1. Oral Medication
- 4.1.1.1.1. Capsules
- 4.1.1.1.2. Tablets
- 4.1.1.1.3. Mixtures
- 4.1.1.1.4. Lollipops
- 4.1.1.1.5. Lozenges
- 4.1.1.2. Topical Medications
- 4.1.1.2.1. Gels
- 4.1.1.2.2. Ointments
- 4.1.1.2.3. Cream
- 4.1.1.2.4. Lotions
- 4.1.1.3. Mouthwashes
- 4.1.1.4. Suppositories
- 4.2. North America Compounding Pharmacies Market Outlook, by Application, Value (US$ Bn), 2018 – 2031
- 4.2.1. Key Highlights
- 4.2.1.1. Medication for Adults
- 4.2.1.2. Medication for Veterinary
- 4.2.1.3. Medication for Children
- 4.2.1.4. Medication for Geriatric
- 4.3. North America Compounding Pharmacies Market Outlook, by Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 4.3.1. Key Highlights
- 4.3.1.1. Pain Management
- 4.3.1.2. Hormone Replacement Therapy
- 4.4. North America Compounding Pharmacies Market Outlook, by Country, Value (US$ Bn), 2018 – 2031
- 4.4.1. Key Highlights
- 4.4.1.1. U.S. Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 4.4.1.2. U.S. Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 4.4.1.3. U.S. Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 4.4.1.4. Canada Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 4.4.1.5. Canada Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 4.4.1.6. Canada Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 4.4.2. BPS Analysis/Market Attractiveness Analysis
- 5. Europe Compounding Pharmacies Market Outlook, 2018 – 2031
- 5.1. Europe Compounding Pharmacies Market Outlook, by Product, Value (US$ Bn), 2018 – 2031
- 5.1.1. Key Highlights
- 5.1.1.1. Oral Medication
- 5.1.1.1.1. Capsules
- 5.1.1.1.2. Tablets
- 5.1.1.1.3. Mixtures
- 5.1.1.1.4. Lollipops
- 5.1.1.1.5. Lozenges
- 5.1.1.2. Topical Medications
- 5.1.1.2.1. Gels
- 5.1.1.2.2. Ointments
- 5.1.1.2.3. Cream
- 5.1.1.2.4. Lotions
- 5.1.1.3. Mouthwashes
- 5.1.1.4. Suppositories
- 5.2. Europe Compounding Pharmacies Market Outlook, by Application, Value (US$ Bn), 2018 – 2031
- 5.2.1. Key Highlights
- 5.2.1.1. Medication for Adults
- 5.2.1.2. Medication for Veterinary
- 5.2.1.3. Medication for Children
- 5.2.1.4. Medication for Geriatric
- 5.3. Europe Compounding Pharmacies Market Outlook, by Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 5.3.1. Key Highlights
- 5.3.1.1. Pain Management
- 5.3.1.2. Hormone Replacement Therapy
- 5.4. Europe Compounding Pharmacies Market Outlook, by Country, Value (US$ Bn), 2018 – 2031
- 5.4.1. Key Highlights
- 5.4.1.1. Germany Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 5.4.1.2. Germany Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 5.4.1.3. Germany Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 5.4.1.4. U.K. Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 5.4.1.5. U.K. Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 5.4.1.6. U.K. Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 5.4.1.7. France Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 5.4.1.8. France Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 5.4.1.9. France Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 5.4.1.10. Italy Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 5.4.1.11. Italy Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 5.4.1.12. Italy Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 5.4.1.13. Turkey Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 5.4.1.14. Turkey Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 5.4.1.15. Turkey Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 5.4.1.16. Russia Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 5.4.1.17. Russia Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 5.4.1.18. Russia Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 5.4.1.19. Rest of Europe Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 5.4.1.20. Rest of Europe Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 5.4.1.21. Rest of Europe Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 5.4.2. BPS Analysis/Market Attractiveness Analysis
- 6. Asia Pacific Compounding Pharmacies Market Outlook, 2018 – 2031
- 6.1. Asia Pacific Compounding Pharmacies Market Outlook, by Product, Value (US$ Bn), 2018 – 2031
- 6.1.1. Key Highlights
- 6.1.1.1. Oral Medication
- 6.1.1.1.1. Capsules
- 6.1.1.1.2. Tablets
- 6.1.1.1.3. Mixtures
- 6.1.1.1.4. Lollipops
- 6.1.1.1.5. Lozenges
- 6.1.1.2. Topical Medications
- 6.1.1.2.1. Gels
- 6.1.1.2.2. Ointments
- 6.1.1.2.3. Cream
- 6.1.1.2.4. Lotions
- 6.1.1.3. Mouthwashes
- 6.1.1.4. Suppositories
- 6.2. Asia Pacific Compounding Pharmacies Market Outlook, by Application, Value (US$ Bn), 2018 – 2031
- 6.2.1. Key Highlights
- 6.2.1.1. Medication for Adults
- 6.2.1.2. Medication for Veterinary
- 6.2.1.3. Medication for Children
- 6.2.1.4. Medication for Geriatric
- 6.3. Asia Pacific Compounding Pharmacies Market Outlook, by Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 6.3.1. Key Highlights
- 6.3.1.1. Pain Management
- 6.3.1.2. Hormone Replacement Therapy
- 6.4. Asia Pacific Compounding Pharmacies Market Outlook, by Country, Value (US$ Bn), 2018 – 2031
- 6.4.1. Key Highlights
- 6.4.1.1. China Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 6.4.1.2. China Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 6.4.1.3. China Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 6.4.1.4. Japan Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 6.4.1.5. Japan Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 6.4.1.6. Japan Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 6.4.1.7. South Korea Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 6.4.1.8. South Korea Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 6.4.1.9. South Korea Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 6.4.1.10. India Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 6.4.1.11. India Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 6.4.1.12. India Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 6.4.1.13. Southeast Asia Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 6.4.1.14. Southeast Asia Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 6.4.1.15. Southeast Asia Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 6.4.1.16. Rest of Asia Pacific Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 6.4.1.17. Rest of Asia Pacific Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 6.4.1.18. Rest of Asia Pacific Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 6.4.2. BPS Analysis/Market Attractiveness Analysis
- 7. Latin America Compounding Pharmacies Market Outlook, 2018 – 2031
- 7.1. Latin America Compounding Pharmacies Market Outlook, by Product, Value (US$ Bn), 2018 – 2031
- 7.1.1. Key Highlights
- 7.1.1.1. Oral Medication
- 7.1.1.1.1. Capsules
- 7.1.1.1.2. Tablets
- 7.1.1.1.3. Mixtures
- 7.1.1.1.4. Lollipops
- 7.1.1.1.5. Lozenges
- 7.1.1.2. Topical Medications
- 7.1.1.2.1. Gels
- 7.1.1.2.2. Ointments
- 7.1.1.2.3. Cream
- 7.1.1.2.4. Lotions
- 7.1.1.3. Mouthwashes
- 7.1.1.4. Suppositories
- 7.2. Latin America Compounding Pharmacies Market Outlook, by Application, Value (US$ Bn), 2018 – 2031
- 7.2.1. Key Highlights
- 7.2.1.1. Medication for Adults
- 7.2.1.2. Medication for Veterinary
- 7.2.1.3. Medication for Children
- 7.2.1.4. Medication for Geriatric
- 7.3. Latin America Compounding Pharmacies Market Outlook, by Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 7.3.1. Key Highlights
- 7.3.1.1. Pain Management
- 7.3.1.2. Hormone Replacement Therapy
- 7.4. Latin America Compounding Pharmacies Market Outlook, by Country, Value (US$ Bn), 2018 – 2031
- 7.4.1. Key Highlights
- 7.4.1.1. Brazil Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 7.4.1.2. Brazil Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 7.4.1.3. Brazil Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 7.4.1.4. Mexico Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 7.4.1.5. Mexico Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 7.4.1.6. Mexico Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 7.4.1.7. Argentina Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 7.4.1.8. Argentina Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 7.4.1.9. Argentina Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 7.4.1.10. Rest of Latin America Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 7.4.1.11. Rest of Latin America Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 7.4.1.12. Rest of Latin America Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 7.4.2. BPS Analysis/Market Attractiveness Analysis
- 8. Middle East & Africa Compounding Pharmacies Market Outlook, 2018 – 2031
- 8.1. Middle East & Africa Compounding Pharmacies Market Outlook, by Product, Value (US$ Bn), 2018 – 2031
- 8.1.1. Key Highlights
- 8.1.1.1. Oral Medication
- 8.1.1.1.1. Capsules
- 8.1.1.1.2. Tablets
- 8.1.1.1.3. Mixtures
- 8.1.1.1.4. Lollipops
- 8.1.1.1.5. Lozenges
- 8.1.1.2. Topical Medications
- 8.1.1.2.1. Gels
- 8.1.1.2.2. Ointments
- 8.1.1.2.3. Cream
- 8.1.1.2.4. Lotions
- 8.1.1.3. Mouthwashes
- 8.1.1.4. Suppositories
- 8.2. Middle East & Africa Compounding Pharmacies Market Outlook, by Application, Value (US$ Bn), 2018 – 2031
- 8.2.1. Key Highlights
- 8.2.1.1. Medication for Adults
- 8.2.1.2. Medication for Veterinary
- 8.2.1.3. Medication for Children
- 8.2.1.4. Medication for Geriatric
- 8.3. Middle East & Africa Compounding Pharmacies Market Outlook, by Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 8.3.1. Key Highlights
- 8.3.1.1. Pain Management
- 8.3.1.2. Hormone Replacement Therapy
- 8.4. Middle East & Africa Compounding Pharmacies Market Outlook, by Country, Value (US$ Bn), 2018 – 2031
- 8.4.1. Key Highlights
- 8.4.1.1. GCC Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 8.4.1.2. GCC Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 8.4.1.3. GCC Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 8.4.1.4. South Africa Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 8.4.1.5. South Africa Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 8.4.1.6. South Africa Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 8.4.1.7. Egypt Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 8.4.1.8. Egypt Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 8.4.1.9. Egypt Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 8.4.1.10. Nigeria Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 8.4.1.11. Nigeria Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 8.4.1.12. Nigeria Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 8.4.1.13. Rest of Middle East & Africa Compounding Pharmacies Market by Product, Value (US$ Bn), 2018 – 2031
- 8.4.1.14. Rest of Middle East & Africa Compounding Pharmacies Market by Application, Value (US$ Bn), 2018 – 2031
- 8.4.1.15. Rest of Middle East & Africa Compounding Pharmacies Market Therapeutic Area, Value (US$ Bn), 2018 – 2031
- 8.4.2. BPS Analysis/Market Attractiveness Analysis
- 9. Competitive Landscape
- 9.1. Product vs Therapeutic Area Heatmap
- 9.2. Manufacturer vs Therapeutic Area Heatmap
- 9.3. Company Market Share Analysis, 2023
- 9.4. Competitive Dashboard
- 9.5. Company Profiles
- 9.5.1. Fagron
- 9.5.1.1. Company Overview
- 9.5.1.2. Product Portfolio
- 9.5.1.3. Financial Overview
- 9.5.1.4. Business Strategies and Development
- 9.5.2. Fresenius Kabi AG
- 9.5.2.1. Company Overview
- 9.5.2.2. Product Portfolio
- 9.5.2.3. Financial Overview
- 9.5.2.4. Business Strategies and Development
- 9.5.3. PharMEDium Services LLC
- 9.5.3.1. Company Overview
- 9.5.3.2. Product Portfolio
- 9.5.3.3. Financial Overview
- 9.5.3.4. Business Strategies and Development
- 9.5.4. Institutional Pharmacy Solutions
- 9.5.4.1. Company Overview
- 9.5.4.2. Product Portfolio
- 9.5.4.3. Financial Overview
- 9.5.4.4. Business Strategies and Development
- 9.5.5. Cantrell Drug Company
- 9.5.5.1. Company Overview
- 9.5.5.2. Product Portfolio
- 9.5.5.3. Financial Overview
- 9.5.5.4. Business Strategies and Development
- 9.5.6. Lorraine’s Pharmacy
- 9.5.6.1. Company Overview
- 9.5.6.2. Product Portfolio
- 9.5.6.3. Financial Overview
- 9.5.6.4. Business Strategies and Development
- 9.5.7. B. Braun Melsungen AG Company
- 9.5.7.1. Company Overview
- 9.5.7.2. Product Portfolio
- 9.5.7.3. Financial Overview
- 9.5.7.4. Business Strategies and Development
- 10. Appendix
- 10.1. Research Methodology
- 10.2. Report Assumptions
- 10.3. Acronyms and Abbreviations
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