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Compounding Pharmacy Market 2021 Size, Share, Growth, Trends, Analysis, Revenue, Competitive Landscape, Forecast Report – 2020-2027

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Pune, India, Jan. 28, 2021 (GLOBE NEWSWIRE) — The global compounding pharmacy market size is expected to gain momentum backed by the growing demand for customized drugs and the rising geriatric population globally. This information is published by Fortune Business Insights in its upcoming report, titled, “Compounding Pharmacy Market Size, Share & Industry Analysis, By Application (Pain Management, Dermatology, Hormone Replacement Therapy, Oncology), By Service (Ingredient Alteration, Application or Delivery Alteration, Pharmaceutical Dosage Alteration, Filling Supply Shortages), By Route of Administration (Oral, Topical, Parenteral, Rectal), By Usage (Pediatrics, Geriatrics, Adults, Veterinary) and Regional Forecast, 2020-2027.”Compounding pharmacy is a term that refers to the consumption of custom medicines sourced from the base medicines prescribed for the patient. The adoption of base drugs that are combined and prepared to fit the patient’s preference is gaining prominence due to the unavailability of drugs vital for the well-being of health. 
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Growing Demand for Customized Drugs to Promote GrowthThe growing demand for hard-to-find or discontinued drugs is likely to drive the adoption of compounding pharmacies that ensures the patients receive similar benefits of the prescribed drugs. Therefore, the high adoption of customized drugs is expected to boost market growth. Moreover, the rising geriatric population is expected to bode well for the global compounding pharmacy market growth in the forthcoming years.Availability of Advanced Healthcare Facilities in North America to Aid GrowthAmong all the regions, North America is expected to remain dominant and hold the highest position in the global compounding pharmacy market during the forecast period. This is attributable to the availability of advanced healthcare facilities that propel the demand for compounding pharmacy in the region between 2020 and 2027.On the other hand, Europe is expected to hold the second position in the market in the forthcoming years. This is ascribable to factors such as the growing awareness regarding compounding drugs that are boosting the adoption of compounding pharmacy in the region.The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
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Product Launches by Prominent Companies to Amplify Their Market PositionsThe global compounding pharmacy market is consolidated by the presence of major companies focusing on strengthening their positions to gain a competitive edge over their rivals. They are doing so by introducing innovative compounding pharmacy drugs to cater to the growing demand across the globe. Other key players are adopting strategies such as merger and acquisition, collaboration, and partnership to maintain their presence that will boost the market growth in the forthcoming years. Industry Development:December 2020 – Wedgewood Connect, a subsidiary of Wedgewood Pharmacy, announced the production of sterile medications. The products offered are based on five formulations of Tacrolimus Ophthalmic Solution and Cyclosporine Ophthalmic Solution. The company is spread across 22,000-square-foot of area and is an FDA-registered Outsourcing Facility in San Jose, California.
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List of the Companies Operating in the Global Market for Compounding Pharmacy:Fresenius Kabi AGB. Braun Medical Inc.Fagron, LLCPharMEDium ServicesWEDGEWOOD PHARMACYLee Silsby Compounding Pharmacy, INC.DOUGHERTY’S HOLDINGSACPHARM QueenslandVillage Compounding PharmacyOther Prominent Players
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Compounding Pharmacy Market Segmentation:By Application     •              Pain Management•              Dermatology•              Hormone Replacement Therapy•              Oncology•              Urology•              OthersBy Service            •              Ingredient Alteration•              Application or Delivery Alteration•              Pharmaceutical Dosage Alteration•              Filling Supply Shortages•              Animal Specialized ManufacturingBy Route Of Administration              •              Oral•              Topical•              Parenteral•              Rectal•              OthersBy Usage               •              Pediatrics•              Geriatrics•              Adults•              VeterinaryBy Geography      •              North America (USA, Canada)•              Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)•              Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)•              Latin America (Brazil, Mexico, Rest of Latin America)•              Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
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