Compounding Chemotherapy Market Overview
The Compounding Chemotherapy Market Size was valued at USD 0.4 billion in 2022. The Compounding Chemotherapy market industry is projected to grow from USD 0.42 Billion in 2023 to USD 0.61 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.29% during the forecast period (2023 - 2030).
.Compounding is the science of combining and developing drugs that are unique to the needs of the patients. These medications are made depending on the recommendation of the doctor in which the individual constituents are mixed in accordance with the prescribed dose.
Many technical advances and cutting-edge strategies have allowed pharmacies to respond to the needs of clinicians and boost the growth of the global Compounding Chemotherapy Market. Furthermore, the increasing opioid scarcity s is expected to increase demand globally for compounding chemotherapy.
Compounding Chemotherapy Market Segmentation
Compounding chemotherapy Market Outlook has been considered for dose, compounding type, delivery method, sterility, technology, compounder type, and application.
Compounding chemotherapy market Insights, dose-wise, caters to chemotherapeutic as well as non-chemotherapeutics. Chemotherapeutics obtained the leading position in 2019 and is anticipated to witness significant growth in the following years, backed by the soaring burden of cancer, rising spending on medicine and surge in health benefits.
The various compounding types studied in the MRFR report are currently unavailable pharmaceutical manufacturing (CUPM), pharmaceutical dosage alteration (PDA) and pharmaceutical ingredient alteration (PIA). The PDA segment should perform relatively better than its counterparts in the given period.
The compounding chemotherapy market, in terms of delivery method, can be narrowed down into volumetric automated compounding device (volume-based) and gravimetric automated compounding device (weight-based). In 2019, the lead was secured by the gravimetric automated compounding device (weight-based) segment.
Depending on sterility, the global market has been split based on sterile and non-sterile. The sterile segment, with the biggest share of 56.0%, attained the top spot in 2019. Chemotherapy that is based on sterile substances is used as injections and infusions.
Major technologies analyzed in the market study are robotic arms as well as without robotic arms. The with robotic arm is the top segment and is anticipated to procure a growth rate of 6.46% in the years ahead.
Compounder types listed in the MRFR report are Equashield Pro, Pharmoduct, Integra, Medimix, and others. Since 2019, pharmoduct has remained the market leader and is set to attain a CAGR of 7.84%.
Applications of compounding chemotherapy are respiratory/lung cancer, blood cancer, breast cancer, gastrointestinal cancer, prostate cancer, and others.
Compounding Chemotherapy Market Regional Analysis
Compounding chemotherapy industry has been regionally divided into Europe, the Americas, MEA or Middle East & Africa as well as APAC or Asia Pacific.
The American market can be considered for two regions, namely North America and Latin America, while the North America market is further segmented into Canada as well as the US. The American market has secured the lead and is soaring at a tremendous pace thanks to the rising cases of cancer, escalating healthcare costs, and the urgent need for advanced chemotherapy. The broad focus on creating modern healthcare practices and improving cancer-based treatment benefits the American industry. The expanding elderly population that is prone to different types of cancer also drive the market value. The Population Reference Bureau reveals that the geriatric populace in the United States is anticipated to touch 24% of the global population by the year 2060. These numbers ensure that the demand for compounding chemotherapy remains steady in the coming years.
During the analysis period, the European market is likely to take the second lead, in terms of revenue, on account of the surge in government-backed research activities to find a breakthrough for cancer, which is rising at an alarming pace in the region. The high healthcare costs, presence of reputed companies as well as well-developed healthcare facilities also add to the market size in the region.
The APAC market for compounding chemotherapy is split into India, China, South Korea, Japan, and Australia. Asia Pacific has strong growth potential since the government across various countries are lending support to the healthcare industry for vigorous research and development activities, especially in China and India. Moreover, the rapid growth in cancer cases, massive demand for effective therapies, burgeoning aging population and mounting public awareness regarding cancer and the latest treatment options also enhance the market size in the region
KeyPlayers.
Compounding Chemotherapy Market Players are,
- Pfizer Inc.
- Baxter
- Grifols SA
- Comecer S.P.A.
- Added Pharma
- Equashield
- Arxium
- Dedalus Group
- B. Braun Melsungen AG
- Omnicell
- Icon group
- The Metrix Company
- Loccioni
- Sterline S.R.L.
- Millers Pharmacy
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