Growing Adoption For Hormone Replacement Therapy Will Surge Demand For Sterile Compounding Pharmacies Market - Fact.MR

Rising prevalence of chronic diseases is expected to drive demand for pain management, which is expected to boost market growth. Moreover, increasing demand for custom compounded formulations and increasing pharmaceutical spending are expected to have a positive impact on market growth.

Compounding is fundamental to the pharmacy profession and a standard means of providing prescribed medications prior to the production of formulations in bulk quantity by pharmaceutical manufacturers. A compounded preparation is the customization of drugs that are mainly consumed by patients allergic to one of the inactive ingredients.

For more insights into the Market, Get A Sample of this Report! - https://www.factmr.com/connectus/sample?flag=S&rep_id=7061

Key Takeaways from Market Study

• By product, injectables hold around 65% value share in the market.
• Based on therapeutic areas, hormone replacement therapy leads the global market with 29% share.
• By end user, adults dominate demand with a value share of 46% in 2021, while on the other hand, demand from pediatrics is expected to increase at a higher CAGR of 8.1%.
• The U.S. dominates the North American market with a value share of 76% in 2021.

According to a research published in Global Lancet, around 1.1 billion people suffered distance vision impairment or uncorrected presbyopia in 2020. This figure is expected to increase to 1.8 billion by 2050. Common causes of vision impairment such as cataract, glaucoma, age-related macular degeneration, diabetic retinopathy, and presbyopia occur more frequently in later life (>60 years).

For Comprehensive Insights Ask An Analyst Here - https://www.factmr.com/connectus/sample?flag=AE&rep_id=7061

Rising geriatric population and increasing longevity of customized formulations over commercially available products have surged demand for sterile compounded products. Additionally, several key players are focusing on inorganic growth strategies to innovate and develop effective products. Thus, product approvals and launches are expected to complement market growth.

• For instance, in May 2020, Central Admixture Pharmacy Services, Inc. launched three new sterile compounded suspensions. One is a sedative: Midazolam 125 mg added to NS (1mg/mL), and the other two are vasodilators: Vasopressin 50 units added to 50 mL normal saline Norepinephrine 8 mg added to 250 mL normal saline, which are in in short supply for ICU patients.

Growing innovations have resulted in it becoming easier to conduct sterile compounding for specialty drugs.

• For instance, COMECER S.p.A. introduced an automated and patented device – Pharmoduct - used for the preparation of sterile formulations and personalized oncology drugs, including chemotherapy and biologicals.

Demand for drug compounding has increased due to limited stock of dosage forms with precise strength that are commercially available are unable to meet the unique needs of many patients.

Mostly, the growing ageing population demands customized formulations to improve longevity. With an ageing population accounting for increased numbers of ophthalmic disorders associated with individuals living longer, the need for continual development of existing and new ophthalmic drug formulations will continue to grow.

Who is Winning in this Space?

The global sterile compounding pharmacies market is set to expand due to rise in the geriatric population and growing demand for sterile compounded formulations over commercial products. Leading industry players are set to focus on research & development as well as strategic & geographic expansion in order to strengthen their presence in the market.

Some of the leading players in the market include, but are not limited to, Fagron, Fresenius Kabi AG, PharMEDium Services, LLC, Institutional Pharmacy Solutions, Cantrell Drug Company, Lorraine’s Pharmacy, and B. Braun Melsungen AG Company.

Get Customization on this Report for Specific Research Solutions - https://www.factmr.com/connectus/sample?flag=RC&rep_id=7061

Want More Insights?

Fact.MR brings a comprehensive research report on forecasted revenue growth at regional and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031.

The sterile compounding pharmacies market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the basis of product, therapeutic area, and end user, across five main regions of the world.

Fact.MR’s Domain Knowledge in Healthcare

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For Trending Updates of Fact.MR , Check out the Link: https://xtalks.com/is-probiotic-soda-actually-healthy-and-which-companies-produce-it-3163/

About Fact.MR:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com 

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates