Compounding Pharmacies Market | Exactitude Consultancy Reports

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Compounding Pharmacies Market Overview
The global compounding pharmacies market is expected to grow at 6.8 % CAGR from 2020 to 2029. It is expected to reach above USD 13.6 billion by 2029 from USD 8.57 billion in 2022.

The process of combining, blending, or changing substances to make a treatment specific to the requirements of a particular patient is known as drug compounding. A compounding pharmacy is a type of pharmacy that makes medicines for patients who cannot utilize medications that are sold over the counter. A compounding pharmacy is frequently utilized for patients who have hypoallergenic sensitivities or for extremely young patients who require a modest dosage of a particular drug. Drug compounding is often regarded as the process of combining, mixing, or altering ingredients to create a medication tailored to the needs of an individual patient. Compounding includes the combining of two or more drugs. Compounded drugs are not FDA-approved.
Segment Analysis
The global Compounding Pharmacies market is segmented based on Therapeutic Area, Route of Administration, Sterility, and region. By Therapeutic area, the market is bifurcated into Pain Management, Hormone Replacement, Dermal Disorders, Nutritional Supplements, and others. By route of administration, the market is bifurcated into Oral, Topical, and others. By sterility, the market is bifurcated into Sterile compounding drugs and non-sterile compounding drugs.

Based on the Therapeutic area the pain management segment is dominating the Compounding Pharmacies market. Due to a growth in the number of geriatric populations, an increase in the number of surgical procedures, and an increase in healthcare spending, the pain management category was the largest contributor to revenue in 2021 and is expected to maintain this trend during the projection period. On the other hand, because of the increase in neurological illnesses and cancer cases, the other segment is anticipated to develop at the highest rate during the projection period.

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