Bulk-Drug Compounding Market to Reach USD 19,735.7 Million by 2034, with a 5.2% of CAGR Driven by Increasing Demand for Customizable and Personalized Medicine | Future Market Insights, Inc.
NEWARK, Del, Sept. 23, 2024 (GLOBE NEWSWIRE) -- The global bulk-drug compounding market is expected to experience significant growth over the next decade, with sales projected to reach USD 11,887.6 million in 2024 and anticipated to increase to USD 19,735.7 million by 2034. This growth represents a compound annual growth rate (CAGR) of 5.2% over the forecast period of 2024 to 2034. The market generated USD 11,300.0 million in revenue in 2023, reflecting the increasing demand for compounded medications.
Compounding pharmacies play a pivotal role in addressing the growing pharmaceutical needs caused by drug shortages. As commercial drug supplies are undermined by various factors, including manufacturing issues, supply chain disruptions, increased demand, and regulatory challenges, the need for customized medications has become more critical.
In particular, compounding pharmacies are essential for the production of sterile injectables and other vital therapies when mass-manufactured supplies are unavailable. These pharmacies provide patients with access to tailored medications, ensuring continued treatment during shortages, especially for those requiring life-saving therapies.
Understanding the Bulk-Drug Compounding Market:
Bulk-drug compounding is gaining prominence due to its ability to provide personalized medication solutions for patients who may have specific needs that mass-manufactured pharmaceuticals cannot address. As regulations and quality standards continue to evolve, compounded drugs are emerging as a critical alternative in medical treatments, contributing to the growing market.
Rising healthcare costs and shortages of certain drugs in the global market have also positioned drug compounding as a vital service. Healthcare providers increasingly rely on compounded medications for patient-specific treatments, leading to steady growth in the bulk-drug compounding sector.
In addition, advancements in compounding technologies, coupled with stricter regulatory frameworks, are supporting the market's development. Bulk-drug compounding companies are investing in research and innovations to ensure safety and efficacy while meeting the diverse needs of the pharmaceutical industry.
Bulk-Drug Compounding Market: Report Scope Country-wise Insights:
| Countries | Value CAGR (2024 to 2034) | |
| USA | 5.6% | |
| Canada | 4.3% | |
| China | 3.2% | |
| Germany | 4.4% | |
| France | 4.1% | |
| India | 2.5% | |
| UK | 5.0% | |
| South Korea | 2.9% | |
Drivers and Opportunities:
The bulk-drug compounding market is driven by an increased demand for customized therapeutic solutions and the rising incidence of chronic diseases that often require patient-specific treatment plans. As healthcare systems evolve to prioritize patient-centric approaches, compounded drugs offer a unique solution for tailored dosages, forms, and combinations, especially for patients who may be allergic to certain excipients in standard medications.
Opportunities in this market are further fueled by the growing aging population, which often requires specialized medications that may not be available in mass-produced formats. Moreover, the surge in biologics and personalized medicine has opened up new avenues for bulk-drug compounding, as the need for bespoke therapeutic treatments continues to rise globally.
Key Takeaways from Market Study:
- CAGR: The global bulk-drug compounding market is expected to grow at a CAGR of 5.2% from 2024 to 2034.
- Market Value: The market is set to expand from USD 11,887.6 million in 2024 to USD 19,735.7 million by 2034.
- Key Growth Driver: Rising demand for customized and patient-specific medications is driving the market’s expansion.
- Regional Leadership: North America is expected to lead the market in terms of market share due to advanced healthcare infrastructure and favorable regulatory support.
“The growing demand for customized medicine, particularly in markets like India, is further accelerating the adoption of compounding practices. Factors such as the rise in chronic diseases and an expanding middle class are driving the need for personalized healthcare solutions. Indian compounding pharmacies are responding with innovative formulations and dosage forms tailored to specific patient needs, making them key contributors to the market's growth”. Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Component Insights:
The bulk-drug compounding market can be segmented based on therapeutic area, dosage form, and end-use. Therapeutic areas such as pain management, dermatology, and oncology are expected to see significant growth, as patients in these categories often require personalized treatment solutions.
Dosage forms such as oral liquids, topical gels, and injectable compounds are becoming increasingly popular, particularly in hospital settings and specialized healthcare providers. Compounding services are also gaining traction in veterinary care and pediatric medicine.
Market's Prime Determinants of Growth, Trends, and Opportunities:
The market's growth is largely driven by the increasing prevalence of chronic diseases that demand customized medication, along with rising regulatory oversight that is improving the safety and efficacy of compounded drugs. Other trends include the growing use of automation and advanced technologies in the compounding process, ensuring greater precision and adherence to patient-specific requirements.
Opportunities lie in expanding access to bulk-drug compounding services in emerging markets and developing new formulations to address unmet medical needs. As the demand for compounded biologics grows, companies are investing heavily in research and development.
Growth Drivers:
- Rising demand for personalized medicine: With patients seeking more customized treatments, the compounding market is experiencing significant growth.
- Chronic disease prevalence: The increasing incidence of chronic diseases globally is necessitating patient-specific solutions, driving the bulk-drug compounding market.
- Technological advancements: Innovative technologies in compounding processes are improving safety, efficacy, and scalability.
Competitive Landscape
The bulk-drug compounding industry is witnessing significant investments in research and development, aimed at driving innovation and enhancing product differentiation through advanced features and improved patient outcomes. Companies are increasingly focusing on forging strategic partnerships to strengthen their product offerings and expand their global reach.
Recent Industry Developments in the Bulk-Drug Compounding Market
On May 19, 2023, Fagron Academy announced a partnership with Gates Healthcare to enhance support for compounding pharmacies. This collaboration aims to provide educational resources and training that empower compounding pharmacies to effectively meet the changing needs of healthcare providers and patients.
Additionally, in 2023, Fagron completed the acquisition of London Specialist Pharmacy, marking a strategic move to enter the UK compounding market and diversify its operations within the EMEA region. This acquisition aligns with Fagron's disciplined approach to expanding its service offerings and market presence.
To Gain In-Depth Insights on Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/bulk-drug-compounding-market
Key Players of Bulk-Drug Compounding Market:
- Fogron
- B.Broun Melsungen AG
- Nephron Pharmaceuticals Corporaiton
- Athenex Pharmaceutical Division
- QuVa Pharma
- Fresenius Kabi
- Central Admixture Pharmacy Services Inc.
- PharMEDium
- Avella Speciality Pharmacy
- ImprimisRx
- Edge Pharma
- SCA Pharma
- New England Compounding Center
- Bellevue Pharmacy
- Pharmazone
Key Segments of Bulk-Drug Compounding Market:
By Product:
In terms of product, the industry is divided into sterile compounding and non-sterile compounding.
By Form:
In terms of form, the industry is segregated into oral, topical, injectable, ophthalmic and suppositories.
By Therapeutic Area:
In terms of therapeutic area, the industry is segregated into cardiovascular, oncology, endocrinology, pain management, infectious diseases, neurology, dermatology and others.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern, South Asia and Pacific, East Asia and Middle East and Africa (MEA) have been covered in the report.
Author By
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Explore FMI's Extensive Coverage in the Healthcare Domain:
The USA compounding pharmacies market size was projected to be worth US$ 10,326.0 million in 2022. By the end of 2023, the market is likely to reach a valuation of US$ 11,099.0 million.
The global drug delivery technology market is expected to be valued at US$ 43.9 billion in 2023. Increasing adoption of advanced technology for effectively delivering the drug to the target site is expected to drive overall market growth.
The global demand for drug formulation is expected to increase at 5.6% CAGR over the forecast period from 2022 to 2032. The sales of the drug formulations market are estimated to reach a valuation of US$ 1.58 Trillion by 2022.
The drug of abuse testing market is estimated to capture a valuation of US$ 1.65 billion in 2023 and is projected to reach US$ 2.69 billion by 2033. The market is estimated to secure a CAGR of 5.3% during the forecast period.
The drug designing tools market is anticipated to expand its roots at a steady CAGR of 8.7% during the forecast period. The market is likely to hold a revenue of US$ 3.1 billion in 2023 while it is anticipated to cross a value of US$ 7.1 billion by 2033.
The drug discovery enzymes market is likely to be worth US$ 1,751.3 million by 2033, from its projected value of US$ 932.4 million in 2023. A 6.5% CAGR in the market
The global sales of podiatry services are estimated to be worth USD 4,839.6 million in 2024 and are anticipated to reach a value of USD 6,072.7 million by 2034.
The global sales of epinephrine auto-injectors are estimated to be worth USD 2,228.0 million in 2024 and anticipated to reach a value of USD 3,394.4 million by 2034.
The global sales of critical care drugs are estimated to be worth USD 1,052.0 million in 2024 and are anticipated to reach a value of USD 1,730.0 million by 2034.
The varicella vaccines market is estimated to reach USD 3,258.6 million in 2024. It is estimated that revenue will increase at a CAGR of 2.4% between 2024 and 2034. The market is anticipated to reach USD 4,115.4 million by 2034.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
© Copyright Globe Newswire, Inc. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Globe Newswire, Inc.
