Oral meds to drive compounding pharmacies market growth over 2017-2024

In an era of consequential transformation in the healthcare delivery, compounding pharmacies market is charting a profitable growth curve.

Although a major chunk of pharmacists is involved in drug manufacturing, yet with the advancement of technology compounding has become an integral of pharmacy practice. The expanding geriatric population base along with increasing customized medication requirements subject to alternative doses, flavor and formulations are stimulating the market dynamics. In addition to this, the recent trend toward personalized diagnostic approach is expected to complement the business landscape in the years ahead.

With the increasing drug shortage issues and drug failure rates in recent times, compounding pharmacies are anticipated to be the best alternative to address the growing drug demand. As per a report by Global Market Insights, “ Compounding pharmacies market will hold a valuation of more than $12 billion by 2024, with an estimated compound annual growth rate (CAGR) of 5% over 2017-2024.”