The sterile compounding pharmacies market size has grown strongly in recent years. It will grow from $4.99 billion in 2023 to $5.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth observed during the historical period can be attributed to factors such as concerns about patient safety, a shift towards personalized medicine, the increasing adoption of home infusion therapies, the involvement of sterile compounding pharmacies in clinical trials and investigational drugs, and the support for rare diseases.
The sterile compounding pharmacies market size is expected to see strong growth in the next few years. It will grow to $6.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to factors such as the rise in chronic diseases, the aging population and increasing healthcare needs, concerns about drug shortages and supply chain disruptions, advancements in precision medicine, and an increased focus on patient-centric care. Major trends expected in the forecast period include the integration of automation and robotics, a focus on stringent regulatory compliance, the emphasis on personalized medicine and specialized compounds, a shift towards outsourced compounding services, and technological advances in aseptic techniques.
The anticipated surge in the demand for personalized medicine is poised to propel the growth of the sterile compounding pharmacies market in the future. Personalized medicine, which utilizes information about an individual's genes or proteins to prevent, diagnose, or treat diseases, is facilitated by sterile compounding pharmacies. These pharmacies play a crucial role in delivering personalized medications in a sterile environment, tailoring drugs based on individual needs to enhance treatment outcomes, patient satisfaction, and therapy adherence. Notably, the approval of 12 new personalized medicines in 2022, as reported by the Personalized Medicine Coalition, underscores the increasing prominence of personalized medicine. Hence, the escalating demand for personalized medicine is a driving force behind the growth of the sterile compounding pharmacies market.
The burgeoning aging population significantly contributes to the growth of the sterile compounding pharmacies market. An aging population, characterized by an increasing proportion of older individuals within a society, benefits from sterile compounding pharmacies that provide customized medication solutions. These pharmacies prepare medications in various forms, such as liquid, topical, or suppository, making them more accessible for the aging population. According to October 2022 data from the World Health Organization, the global population aged 60 or above is expected to grow from 1 billion in 2020 to 1.4 billion in 2030. Thus, the expanding aging population is a driving factor for the growth of the sterile compounding pharmacies market.
The adoption of robotic automation emerges as a prominent trend in the sterile compounding pharmacies market. Major companies in the market focus on leveraging robotic automation to enhance their market position. For example, in March 2023, Omnicell Inc., a healthcare technology company, introduced the IVX Station, a robotic compounding technology designed for safe and efficient sterile compounding preparations using automation. This technology features an automated compounding process in an ISO Class 5 environment, incorporating continuous monitoring of temperature, humidity, and particles. The IVX Station prioritizes safety with advanced vision systems, gravimetric verification, auto-labeling, and automated application of tamper-evident syringe caps. Moreover, it offers scalability through a cloud-based formulation library, ensuring access to the latest authorized formulations for manufacturers.
Major companies in the sterile compounding pharmacies market adopt strategic acquisition and collaboration as part of their growth strategy. A strategic acquisition involves one company purchasing another or its assets to achieve long-term strategic objectives. In October 2023, Sharp, a pharmaceutical packaging company, acquired Berkshire Sterile Manufacturing (BSM) to enhance its capabilities in offering fully integrated small-to-medium scale sterile injectable services. The acquisition complements Sharp's services with BSM's expertise in sterile manufacturing and Contract Development and Manufacturing Organization (CDMO) services.
In January 2022, Revelation Pharma Corp, a compounding pharmacy company, acquired Innovation Compounding Inc. for an undisclosed amount. This strategic acquisition aligns with Revelation's goal of establishing a national network of 503A and 503B compounding pharmacies. Innovation Compounding Inc., a 503A compounding pharmacy, provides sterile and non-sterile compounded pharmaceuticals to patients in 49 states.
Major companies operating in the sterile compounding pharmacies market report are B. Braun SE, PharMerica Corporation, Fagron Group BV, QuVa Pharma Inc., NewCo Pharma GmbH, Medisca, PharMEDium Healthcare Holdings Inc., Central Admixture Pharmacy Services (CAPS), SandsRx LLC, LeeSar Inc., Avella Specialty Pharmacy, Stokes Pharmacy Inc., Imprimis Pharmaceuticals Inc., Wells Pharmacy Network LLC, McGuff Compounding Pharmacy Services Inc., Potter's House Apothecary Inc., Pharos Innovations LLC, Triangle Compounding Pharmacy Inc., Valor Compounding Pharmacy Inc., Pace Pharmacy, PenCol Specialty Pharmacy LLC, Pavilion Compounding Pharmacy LLC, Olympia Pharmacy, MedisourceRx, Stat RX Pharmacy, Rx3 Compounding Pharmacy, Atlas Pharmaceuticals Co. Ltd., ReNue Rx, Premier Pharmacy Labs Inc., Absolute Pharmacy Inc.
North America was the dominant region in the sterile compounding pharmacies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sterile compounding pharmacies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sterile compounding pharmacies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary products in sterile compounding pharmacies include injectables, nasal, ocular, and otic formulations. Injectables are pharmacological substances or drugs intended for injection into the body using a needle and syringe. Sterile compounding pharmacies offer production services such as customization, patient-specific dosing, and elimination of intolerable components, ensuring the safety, sterility, and quality of injectable medications tailored to individual patient requirements. These injectables find application in various therapeutic areas, including hormone replacement therapy, pain management, dermatology, oncology, hematology, dental, among others. Administration routes include intravenous, intramuscular, and subcutaneous, catering to diverse end-users such as adults, pediatrics, geriatrics, and veterinary applications.
The sterile compounding pharmacies market research report is one of a series of new reports that provides sterile compounding pharmacies market statistics, including sterile compounding pharmacies industry global market size, regional shares, competitors with a sterile compounding pharmacies market share, detailed sterile compounding pharmacies market segments, market trends and opportunities, and any further data you may need to thrive in the sterile compounding pharmacies industry. This sterile compounding pharmacies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The sterile compounding pharmacies market consists of sales of injectable drugs and infusions created in an environment free from microorganisms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The sterile compounding pharmacies market size is expected to see strong growth in the next few years. It will grow to $6.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to factors such as the rise in chronic diseases, the aging population and increasing healthcare needs, concerns about drug shortages and supply chain disruptions, advancements in precision medicine, and an increased focus on patient-centric care. Major trends expected in the forecast period include the integration of automation and robotics, a focus on stringent regulatory compliance, the emphasis on personalized medicine and specialized compounds, a shift towards outsourced compounding services, and technological advances in aseptic techniques.
The anticipated surge in the demand for personalized medicine is poised to propel the growth of the sterile compounding pharmacies market in the future. Personalized medicine, which utilizes information about an individual's genes or proteins to prevent, diagnose, or treat diseases, is facilitated by sterile compounding pharmacies. These pharmacies play a crucial role in delivering personalized medications in a sterile environment, tailoring drugs based on individual needs to enhance treatment outcomes, patient satisfaction, and therapy adherence. Notably, the approval of 12 new personalized medicines in 2022, as reported by the Personalized Medicine Coalition, underscores the increasing prominence of personalized medicine. Hence, the escalating demand for personalized medicine is a driving force behind the growth of the sterile compounding pharmacies market.
The burgeoning aging population significantly contributes to the growth of the sterile compounding pharmacies market. An aging population, characterized by an increasing proportion of older individuals within a society, benefits from sterile compounding pharmacies that provide customized medication solutions. These pharmacies prepare medications in various forms, such as liquid, topical, or suppository, making them more accessible for the aging population. According to October 2022 data from the World Health Organization, the global population aged 60 or above is expected to grow from 1 billion in 2020 to 1.4 billion in 2030. Thus, the expanding aging population is a driving factor for the growth of the sterile compounding pharmacies market.
The adoption of robotic automation emerges as a prominent trend in the sterile compounding pharmacies market. Major companies in the market focus on leveraging robotic automation to enhance their market position. For example, in March 2023, Omnicell Inc., a healthcare technology company, introduced the IVX Station, a robotic compounding technology designed for safe and efficient sterile compounding preparations using automation. This technology features an automated compounding process in an ISO Class 5 environment, incorporating continuous monitoring of temperature, humidity, and particles. The IVX Station prioritizes safety with advanced vision systems, gravimetric verification, auto-labeling, and automated application of tamper-evident syringe caps. Moreover, it offers scalability through a cloud-based formulation library, ensuring access to the latest authorized formulations for manufacturers.
Major companies in the sterile compounding pharmacies market adopt strategic acquisition and collaboration as part of their growth strategy. A strategic acquisition involves one company purchasing another or its assets to achieve long-term strategic objectives. In October 2023, Sharp, a pharmaceutical packaging company, acquired Berkshire Sterile Manufacturing (BSM) to enhance its capabilities in offering fully integrated small-to-medium scale sterile injectable services. The acquisition complements Sharp's services with BSM's expertise in sterile manufacturing and Contract Development and Manufacturing Organization (CDMO) services.
In January 2022, Revelation Pharma Corp, a compounding pharmacy company, acquired Innovation Compounding Inc. for an undisclosed amount. This strategic acquisition aligns with Revelation's goal of establishing a national network of 503A and 503B compounding pharmacies. Innovation Compounding Inc., a 503A compounding pharmacy, provides sterile and non-sterile compounded pharmaceuticals to patients in 49 states.
Major companies operating in the sterile compounding pharmacies market report are B. Braun SE, PharMerica Corporation, Fagron Group BV, QuVa Pharma Inc., NewCo Pharma GmbH, Medisca, PharMEDium Healthcare Holdings Inc., Central Admixture Pharmacy Services (CAPS), SandsRx LLC, LeeSar Inc., Avella Specialty Pharmacy, Stokes Pharmacy Inc., Imprimis Pharmaceuticals Inc., Wells Pharmacy Network LLC, McGuff Compounding Pharmacy Services Inc., Potter's House Apothecary Inc., Pharos Innovations LLC, Triangle Compounding Pharmacy Inc., Valor Compounding Pharmacy Inc., Pace Pharmacy, PenCol Specialty Pharmacy LLC, Pavilion Compounding Pharmacy LLC, Olympia Pharmacy, MedisourceRx, Stat RX Pharmacy, Rx3 Compounding Pharmacy, Atlas Pharmaceuticals Co. Ltd., ReNue Rx, Premier Pharmacy Labs Inc., Absolute Pharmacy Inc.
North America was the dominant region in the sterile compounding pharmacies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sterile compounding pharmacies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sterile compounding pharmacies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary products in sterile compounding pharmacies include injectables, nasal, ocular, and otic formulations. Injectables are pharmacological substances or drugs intended for injection into the body using a needle and syringe. Sterile compounding pharmacies offer production services such as customization, patient-specific dosing, and elimination of intolerable components, ensuring the safety, sterility, and quality of injectable medications tailored to individual patient requirements. These injectables find application in various therapeutic areas, including hormone replacement therapy, pain management, dermatology, oncology, hematology, dental, among others. Administration routes include intravenous, intramuscular, and subcutaneous, catering to diverse end-users such as adults, pediatrics, geriatrics, and veterinary applications.
The sterile compounding pharmacies market research report is one of a series of new reports that provides sterile compounding pharmacies market statistics, including sterile compounding pharmacies industry global market size, regional shares, competitors with a sterile compounding pharmacies market share, detailed sterile compounding pharmacies market segments, market trends and opportunities, and any further data you may need to thrive in the sterile compounding pharmacies industry. This sterile compounding pharmacies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The sterile compounding pharmacies market consists of sales of injectable drugs and infusions created in an environment free from microorganisms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Sterile Compounding Pharmacies Market Characteristics3. Sterile Compounding Pharmacies Market Trends and Strategies32. Global Sterile Compounding Pharmacies Market Competitive Benchmarking33. Global Sterile Compounding Pharmacies Market Competitive Dashboard34. Key Mergers and Acquisitions in the Sterile Compounding Pharmacies Market
4. Sterile Compounding Pharmacies Market - Macro Economic Scenario
5. Global Sterile Compounding Pharmacies Market Size and Growth
6. Sterile Compounding Pharmacies Market Segmentation
7. Sterile Compounding Pharmacies Market Regional and Country Analysis
8. Asia-Pacific Sterile Compounding Pharmacies Market
9. China Sterile Compounding Pharmacies Market
10. India Sterile Compounding Pharmacies Market
11. Japan Sterile Compounding Pharmacies Market
12. Australia Sterile Compounding Pharmacies Market
13. Indonesia Sterile Compounding Pharmacies Market
14. South Korea Sterile Compounding Pharmacies Market
15. Western Europe Sterile Compounding Pharmacies Market
16. UK Sterile Compounding Pharmacies Market
17. Germany Sterile Compounding Pharmacies Market
18. France Sterile Compounding Pharmacies Market
19. Italy Sterile Compounding Pharmacies Market
20. Spain Sterile Compounding Pharmacies Market
21. Eastern Europe Sterile Compounding Pharmacies Market
22. Russia Sterile Compounding Pharmacies Market
23. North America Sterile Compounding Pharmacies Market
24. USA Sterile Compounding Pharmacies Market
25. Canada Sterile Compounding Pharmacies Market
26. South America Sterile Compounding Pharmacies Market
27. Brazil Sterile Compounding Pharmacies Market
28. Middle East Sterile Compounding Pharmacies Market
29. Africa Sterile Compounding Pharmacies Market
30. Sterile Compounding Pharmacies Market Competitive Landscape and Company Profiles
31. Sterile Compounding Pharmacies Market Other Major and Innovative Companies
35. Sterile Compounding Pharmacies Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Sterile Compounding Pharmacies Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on sterile compounding pharmacies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for sterile compounding pharmacies? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Product: Injectables; Nasal; Ocular; Otic
2) By Therapeutic Area: Hormone Replacement Therapy; Pain Management; Dermatology; Oncology; Hematology; Dental; Other Therapeutic Areas
3) By Route of Administrations: Intravenous; Intramuscular; Subcutaneous
4) By End-Users: Adults; Pediatrics; Geriatrics; Veterinary
Key Companies Mentioned: B. Braun SE; PharMerica Corporation; Fagron Group BV; QuVa Pharma Inc.; NewCo Pharma GmbH
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- B. Braun SE
- PharMerica Corporation
- Fagron Group BV
- QuVa Pharma Inc.
- NewCo Pharma GmbH
- Medisca
- PharMEDium Healthcare Holdings Inc.
- Central Admixture Pharmacy Services (CAPS)
- SandsRx LLC
- LeeSar Inc.
- Avella Specialty Pharmacy
- Stokes Pharmacy Inc.
- Imprimis Pharmaceuticals Inc.
- Wells Pharmacy Network LLC
- McGuff Compounding Pharmacy Services Inc.
- Potter's House Apothecary Inc.
- Pharos Innovations LLC
- Triangle Compounding Pharmacy Inc.
- Valor Compounding Pharmacy Inc.
- Pace Pharmacy
- PenCol Specialty Pharmacy LLC
- Pavilion Compounding Pharmacy LLC
- Olympia Pharmacy
- MedisourceRx
- Stat RX Pharmacy
- Rx3 Compounding Pharmacy
- Atlas Pharmaceuticals Co. Ltd.
- ReNue Rx
- Premier Pharmacy Labs Inc.
- Absolute Pharmacy Inc.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 5.3 Billion |
| Forecasted Market Value ( USD | $ 6.7 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
