Global Compounding Chemotherapy Market Size, Share, Growth, Trends, Key Players, and Forecast To 2025
Noida, Uttar Pradesh, India, February 18 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Many technical advancements and cutting-edge strategies have created the pharmacies’ scope to respond to clinicians’ needs and increase the global compounding chemotherapy market growth. Furthermore, the increasing opioid scarcity is expected to increase the demand for compounding chemotherapy worldwide. Also, multiple advantages, including easy-to-use medicines, allowing alternative dosage types to access expired drugs, and making medicines allergen safe, are likely to boost future demand. Besides, hospitals and other healthcare providers are allowing customers to purchase medications that are compounded. Driven by these promising developments, the Global Compounding Chemotherapy Market is estimated to see healthy growth, pegged at a CAGR of ~8% during the forecast period 2020-2025.
North America accounts for the largest market share throughout the forecast period
North America is estimated to hold over 35% market share in 2019 due to a broad focus on developing healthcare practices and healthcare companies focused on improving the cancer treatment procedures for the worldwide population. The European region is also estimated to account for the second-largest market in the global compounding chemotherapy market. The regional growth is owing to the rising European Union (EU) initiatives to accelerate research for the betterment of cancer treatments and the focus on creating accessibility to advanced treatment facilities in the domestic market. Such factors are enhancing its market position in the coming years. In Europe, Germany is the leading contributor to the regional market growth, followed by France and the UK.
However, the Asia-Pacific is expected to grow at the highest growth rate in the compounding chemotherapy market throughout the forecast period. This region’s high growth is primarily attributed to the growing healthcare R&D funding by emerging economies such as China, South Korea, and India. Also, rapidly growing cancer cases, increasing demand for advanced therapies practice, aging population, raising public awareness about various diseases & treatment options, and government initiatives are further expected to drive the global compounding chemotherapy market’s growth over the forecast period.
Chemotherapy is one of the critical cancer treatment types, which comprises multiple chemotherapeutic agents like anti-cancer drugs. The treatment is used to prevents the cancer cells division and its growth by killing dividing cells in the body. It is also used for various cancer treatment types such as breast cancer, lung cancer, ovarian cancer, myeloma, sarcoma, leukemia, lymphoma, and others. Moreover, the rising cancer prevalence, cumulative spending on oncology medicine & research, and reimbursements & growing health insurance are primarily leading the global compounding chemotherapy market growth during the forecast period.
Segmentation Overview of the Global Compounding Chemotherapy Market
The compounding chemotherapy market is segmented on the basis of Dose, Compounding Type, Delivery Method, Technology, and Compounder Type. These major market segments are further categorized into various sub-segments to study the market in detail.
By Compounding Type
Pharmaceutical Ingredient Alteration (PIA) Currently Unavailable Pharmaceutical Manufacturing (CUPM) Pharmaceutical Dosage Alteration (PDA)
By Delivery Method
Gravimetric Automated Compounding Device Volumetric Automated Compounding Device
With Robotic Arms Without Robotic Arms
By Compounder Type
Pharmoduct Equashield Pro Medimix Integra Others
Key Players Insights
Braun Melsungen AG, Baxter, Grifols SA, Pfizer Inc., Added Pharma, Equashield, The Metrix Company, Arxium, Millers Pharmacy, Omnicell, Icon group, Comecer S.P.A., Sterline S.R.L., Dedalus Group, and Loccioni, among others, are some crucial players included in the research study of the global compounding chemotherapy market.
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