Dublin, March 23, 2022 (GLOBE NEWSWIRE) -- The "Sterile Compounding Pharmacies Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The sterile compounding pharmacies market is projected to reach US$ 6,198.59 million by 2028 from US$ 3,968.70 million in 2021; it is expected to grow at a CAGR of 6.6% from 2021 to 2028.
On-site sterile compounding has gained significant attention in the market and is one of the most impacting factors responsible for the market growth. On-site compounding and sterilization can prove vital in case of an intravenous solution intended to be customized as per the patient's requirement.
Also, compounding and filtering a formulation into a sterile intravenous solution is successfully met through strong collaboration with the pharmaceutical sponsor and clinical site pharmacists, where sterility testing can be conducted efficiently. Today, sterile compounding pharmacists are focusing on the latest research activities, innovative techniques, and quality control rules for getting the best ingredients that meet patients' needs.
For example, the National Association of Boards of Pharmacy (NABP) announced receiving funding from the Food and Drug Administration (FDA) for developing a data-sharing system that improves oversight of sterile compounding pharmacies.
This new system is predicted to assist in collecting, managing, and sharing information related to sterile compounding, especially in the US. Moreover, the project also aims to reduce the risk of injury, favoring patients from drug products that have been improperly compounded.
The injectable drugs segment would account for a larger market share during 2021-2028. Injectable drugs are among the most preferred sterile compounding products due to their faster mode of action. Additionally, major players are adopting new strategies for staying forefront in the global market.
For instance, in February 2021, Fresenius Kabi Canada announced the launch of 'IDIACO', an adalimumab biosimilar in Canada. The drug is instantly available for all the reference medicine's indications in the field of rheumatology, gastroenterology, and dermatology. Moreover, in November 2020, Fagron, Inc. announced the launch of new platforms with multiple presentations available-IV Bags for the expansion of its product portfolio. The new platform launches with multiple presentations related to fentaNYL, HYDROmorphone, and Midazolam.
By route of administration, the sterile compounding pharmacies market is segmented into intravenous, intramuscular, and subcutaneous.
The intravenous segment would dominate the market in the coming years. The intravenous route of the administration has a 100% bioavailability, which drives the market growth for the intravenous segment.
Additionally, through the intravenous route, drugs can be delivered uniformly. Also, a large volume of infusion can be administered through the IV route. For instance, 20% mannitol is delivered in cases of cerebral edema by I.V. infusion. Such factors would support the growth of the sterile compounding pharmacies market for the intravenous segment during the forecast period.
Key Topics Covered:
1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. Sterile Compounding Pharmacies Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Experts Opinion
5. Sterile Compounding Pharmacies Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Uptake of Personalized Medicines
5.1.2 Benefits of On-site Sterile Compounding
5.2 Market Restraints
5.2.1 Product Recalls and Stringent Regulatory Requirements
5.3 Market Opportunities
5.3.1 Development of Centralized or Regional Compounding Centers for Customized Formulation
5.4 Future Trends
5.4.1 Continued Support for Outsourcing Facilities and Manufacturing
5.5 Impact Analysis
6. Sterile Compounding Pharmacies Market- Global Analysis
6.1 Global Sterile Compounding Pharmacies Market Revenue Forecast and Analysis
6.2 Global Sterile Compounding Pharmacies Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Global Sterile Compounding Pharmacies Market Revenue and Forecasts To 2028- by Product
7.1 Overview
7.2 Global Sterile Compounding Pharmacies Market, By Product, 2021 & 2028 (%)
7.3 Injectable Drugs
7.4 Infusions
8. Sterile Compounding Pharmacies Market Revenue and Forecasts To 2028 - Route of Administration
8.1 Overview
8.2 Global Sterile Compounding Pharmacies Market Share by Route of Administration - 2021 & 2028 (%)
8.3 Subcutaneous
8.4 Intravenous
8.5 Intramuscular
9. Sterile Compounding Pharmacies Market Revenue and Forecasts to 2028 - Geographical Analysis
10. Impact Of COVID-19 Pandemic on Sterile Compounding Pharmacies Market
11. Sterile Compounding Pharmacies Market-Industry Landscape
11.1 Overview
11.2 Growth Strategies in the Sterile Compounding Pharmacies Market (%)
11.3 Organic Developments
11.4 Inorganic Developments
12. Company Profiles
- Fagron, Inc.
- Triangle Compounding Pharmacy
- B. Braun Melsungen AG
- PharMedium Healthcare Holdings, Inc.
- Fresenious Kabi AG
- Avella Specialty Pharmacy
- Pencol Compounding Pharmacy
- Pavilion Compounding Pharmacy, LLC.
- Pace Pharmacy
- SandsRx
For more information about this report visit https://www.researchandmarkets.com/r/c9qkq4
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