Compounding Pharmacies Market to Reach $14.84 Billion by 2031 | Rising Demand for Personalized Medicine Driving Growth
Compounding Pharmacies Market Growth and forecast
While regulatory restrictions on manufacturing complex formulations may restrain market expansion, the emerging economies with growing healthcare demand present lucrative opportunities for compounding pharmacy service providers in the coming years.
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Market Introduction & Definition
A compounding pharmacy is a specialized type of pharmacy that creates customized medications tailored to individual patient needs when standard, mass-produced drugs are unsuitable or unavailable. Such pharmacies play a vital role in addressing drug shortages, providing unique formulations, and enhancing patient compliance.
Sterile Compounds: Injections, infusions, and eye drops — requiring highly controlled environments to avoid contamination.
Non-Sterile Compounds: Creams, capsules, and suppositories — carrying a lower infection risk but widely used in chronic disease management.
COVID-19 Impact
The COVID-19 pandemic initially disrupted the global compounding pharmacies market in 2020 due to supply chain issues and reduced pharmaceutical production. However, demand rebounded in 2021 as drug shortages surged during the pandemic.
Key developments:
Increased reliance on compounded drugs due to shortages of commercially available medicines.
The FDA issued temporary guidance allowing certain pharmacies to compound essential medications for hospitalized patients during the public health emergency.
Compounding pharmacies became critical in ensuring availability of COVID-19-related treatments and other essential drugs.
Market Segmentation
By Therapeutic Area
Pain Management – Largest revenue contributor in 2021, driven by an aging population, higher surgical volumes, and increasing healthcare expenditure.
Others (Neurology, Oncology, etc.) – Fastest-growing segment, fueled by rising prevalence of neurological disorders and cancer cases.
By Route of Administration
Oral Medications – Dominated the market in 2021 due to the convenience, familiarity, and variety of dosage forms (capsules, tablets, granules, powders).
Topical & Others – Gaining traction as alternative administration methods for specific patient groups.
By Sterility
Non-Sterile Compounds – Accounted for the largest share in 2021, supported by demand for chronic disease management and personalized care.
Sterile Compounds – Expected to grow steadily, especially in hospitals requiring specialized treatments.
Regional Outlook
North America: Held the largest share in 2021 due to its well-established healthcare infrastructure, growing elderly population, and high number of compounding pharmacies.
Europe & Asia-Pacific: Witnessing increasing adoption due to regulatory support and rising healthcare expenditure.
LAMEA: Emerging opportunities driven by unmet medical needs and growing awareness of customized therapies.
Competitive Landscape
The global compounding pharmacies market is highly fragmented with the presence of established players and regional specialists. Key companies include:
Advance Pharmacy
Athenex Pharma
B. Braun Melsungen AG
Dougherty’s Pharmacy, Inc.
Fresenius SE & Co. KGaA
Nephron Pharmaceuticals
Olympia Pharmaceuticals
Panacea Biomatx
Perrigo Company plc
Valor Compounding Pharmacy, among others.
These players are focusing on expanding service offerings, adopting sterile compounding technologies, and strategic partnerships to strengthen their market position.
Conclusion
The compounding pharmacies market is on a robust growth trajectory, driven by personalized medicine trends, chronic disease prevalence, and rising drug shortages. While regulatory challenges persist, North America continues to dominate, and emerging economies offer untapped opportunities.
As healthcare shifts toward individualized treatments, compounding pharmacies will play an increasingly critical role in ensuring patient-centric drug delivery worldwide.
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David Correa
Allied Market Research
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