Market Highlights
Global Compounding Chemotherapy Market is expected to have a market value of USD 635.58 Million by 2027.
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. The trained pharmacists are permitted to modify the prescription for the patient meeting their individual needs, including flavors, dosage formulations, strengths, and absence of constituents for which the patient is susceptible or allergic.
Segment Analysis
The Global Compounding Chemotherapy Market, based on dose, has been segmented into chemotherapeutic and non-chemotherapeutics. The global compounding chemotherapy market, by compounding type, has been segmented into pharmaceutical ingredient alteration (PIA), currently unavailable pharmaceutical manufacturing (CUPM), and pharmaceutical dosage alteration (PDA). The global compounding chemotherapy market, by delivery method, has been segmented into gravimetric automated compounding device (weight-based) and volumetric automated compounding device (volume-based). The global compounding chemotherapy market, by sterility, has been segmented into sterile and non-sterile. On the basis of technology, the market has been segmented into with robotic arms and without robotic arms. The market for the global compounding chemotherapy, by robotic arms, is bifurcated into robots for compounding of intravenous cytotoxic doses and non-cytotoxic dose. The global compounding chemotherapy market, by compounder type, has been segmented into Pharmoduct, equashield pro, medimix, integra, and others.
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Regional Analysis
Global Compounding Chemotherapy Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The rapid development of alternative therapies, such as oncological chemotherapy, has been reported to offer better treatment alternatives for breast, lung, and prostate cancer. The field of precise and personal medicine (PPM) is expanding to deliver therapies focused on current or previous physical fitness and environmental skills in a patient or community.
The European compounding chemotherapy market has been further segmented into Western Europe and Eastern Europe. The Western Europe compounding chemotherapy market has further been classified into Germany, France, the UK, Italy, Spain, and the Rest of Western Europe. The increased use of chemotherapy and custom medications and the growing need for mitigating prescription errors are the main drivers of the market. Furthermore, high cost, reluctance to implement the compounding process, and COVID-19 pandemic are likely to have a significant effect on market growth.
The compounding chemotherapy market in Asia-Pacific has been segmented into China, India, Japan, South Korea, Australia, and the Rest of Asia-Pacific. Asia-Pacific is expected to register the highest growth rate during the forecast period. This rapid growth is mainly due to the rise in R&D financing for the healthcare sector by developing countries such as China and India. Various other factors driving consumer development include an increased prevalence of cancer, aging, rising demand for new treatments and patent expiry of leading medications, regulatory efforts, as well as an increased general understanding of various forms of cancer and possible treatment choices.
The Middle East & Africa compounding chemotherapy market is segmented into the Middle East and Africa. The market for compounding chemotherapy is growing at a significant rate in the Middle East & Africa due to the increasing number of companies and subsidiaries in the region offering treatment options. Comecer S.p.A, an Italian biotechnology company, generates approximately 55% of its annual sales through its specialized radiation shielding systems used by customers in the production, handling, and dispensing of radiopharmaceutical drugs. The company has a presence in Algeria, the Democratic Republic of the Congo, Libya, Madagascar, Morocco, Egypt, Nigeria, South Africa, Tunisia, Uganda, and other African countries.
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Key Players
MRFR recognizes the following companies as the Key Players in the Global Compounding Chemotherapy Market— B. Braun Melsungen AG, Pfizer Inc., Baxter, Grifols SA, The Metrix Company, Added Pharma, Equashield, Millers Pharmacy, Comecer S.P.A., Omnicell, Icon group, Dedalus Group, Arxium, Sterline S.R.L., and Loccioni.
Key Findings of the Study
- Global Compounding Chemotherapy Market is estimated to reach USD 58 Million by 2027 at a CAGR of 6.04% during the assessment period of 2020 to 2027
- The Americas accounted for the largest share of the global compounding chemotherapy market due to the presence of prominent players in the US, and rapid development in therapies.
- Based on dose, the chemotherapeutic segment accounted for a larger market share of 63.0% in 2019.
- On the basis of compounding type, the pharmaceutical dosage alteration (PDA) segment to be the fastest-growing segment during the forecast period with a CAGR of 6.45%
- Based on delivery method, the volumetric automated compounding device (volume based) segment to dominate the market with a CAGR of 7.31% during the forecast period.
- Based on sterility, the non-sterile segment to be a faster-growing segment with a CAGR of 6.17% during the review period.
- Based on technology, the robotic arms segment to be a larger and faster-growing segment with a CAGR of 6.46% during the assessment period
- Based on with robotic arms, the robots for compounding of intravenous cytotoxic doses is likely to be a larger and a faster -growing segment with a CAGR of 6.82% during the forecast period.