Compounding Pharmacies Market to reach $12bn by 2024

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Compounding Pharmacies Market share to surpass
12bn by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Compounding Pharmacies Market

• Global Market Insights, Inc. says Compounding
  Pharmacies Market size is forecast to exceed USD
  12 billion by 2024.
• Growing elderly population is a major driver for
  compounding pharmacies market growth. Special
  requirements of the elderly such as alternative
  dosage forms, flavor, lower doses will boost
  business growth over the forecast years.
• Increased longevity coupled with the rising trend
  to look youthful should increase demand for
  anti-ageing medications such as hormone
  replacement therapy.
• Rising drug failure rates in the recent times
  coupled with drug shortage issues is limiting the
  availability of commercially manufactured drugs.
  Compounding pharmacies should emerge as the best
  alternative to compensate the growing drug
  demand.
• Dearth of skilled lab technicians and pharmacists
  for compounding drugs will impede industry
  growth. Issues pertaining to safety of compounded
  preparations and frequent changes in regulatory
  norms should adversely impact drug compounding.

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Continued...

• Topical formulations demand is estimated to
  witness rapid growth owing to the convenience of
  drug administration.
• Rectal route is anticipated to exhibit lucrative
  growth due to its ease of administration and low
  cost however, this may be offset by the
  associated social stigma.
• Pediatric segment is forecast to grow at a robust
  rate during the forecast period.
• Veterinary applications should witness rapid
  growth owing to increasing companion animal
  population and rising prevalence of animal
  disorders.
• Pain management accounted for the largest share
  in the compounding pharmacies market, and is
  expected to follow a similar trend over the
  forecast timeline.
• Increasing elderly population and rising number
  of individual and community pharmacies will boost
  Germany compounding pharmacies market growth.

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Continued...

• Singapore compounding pharmacies market is slated
  to grow at a robust rate, primarily due to the
  growing prevalence of allergies. Increasing
  medical tourism along with occurrence of drug
  shortages will further propel business growth.
• Mexico compounding pharmacies market is
  anticipated to grow at a significant rate owing
  to presence of few compounding pharmacies and
  large unmet medical needs. Presence of diverse
  ethnic groups in this region will provide
  lucrative business opportunity for new industry
  entrants.
• Compounding pharmacies market players include
  Fresenius Kabi, B. Braun Medical, Fagron,
  PharMEDium, Cantrell Drug Company, ITC
  Compounding Pharmacy, Village Compounding
  Pharmacy, and Wedgewood Village Pharmacy.
  Companies are consolidating their market position
  through adoption of strategies such as
  collaborations and acquisitions.

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U.S. Compounding Pharmacies Market size, By
Product, 2013-2024 (USD Billion)
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