Reports and Insights (R&I) has published a new report titled, “Compounding Chemotherapy Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Compounding Chemotherapy Market, By Dose (chemotherapeutic and non-chemotherapeutics), By Compounding Type (pharmaceutical ingredient alteration (PIA), currently unavailable pharmaceutical manufacturing (CUPM), and pharmaceutical dosage alteration (PDA)), By Delivery Method (gravimetric automated compounding device (weight-based) and volumetric automated compounding device (volume-based)), By Sterility (sterile and non-sterile), By Technology (with robotic arms and without robotic arms), By Compounder Type (Pharmoduct, Equashield Pro, Medimix, Integra, and others), By Application (breast cancer, blood cancer, prostate cancer, gastrointestinal cancer, respiratory/lung cancer, and others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global compounding chemotherapy market was valued US$ 438.9 Mn at the end of 2020 and expected to reach at a value of US$ 761.0 Mn by 2028 with a significant CAGR of 7.1%.
Compounding of drugs and medications can be contemplated as the medical procedure of amalgamation, blending, or modifying constituents to develop a personalised drug customized to the requirements of an individual patient. Compounding comprises the combination of two or more drugs.
Notably, FDA or Food and Drug Administration does not approve the compounded drugs, owing to the fact that drugs are only compounded for the patients who are not treatable with an FDA-approved medication, for instance a patient who is allergic to a particular dye and requires a medication made without that specific dye, or an aged patient or a minor who is not able to gulp a capsule or tablet and requires a medicine in a liquid dosage form. These anti-cancer drugs are formed on the basis of counsel of the healthcare professional in which the singular elements are combined in conformity with the prescribed dose.
Notably, only the qualified healthcare professionals are allowed to perform compounding for the patient and the lack of trained medical experts in few regions across the world is likely to slow down the growth of the global compounding chemotherapy market in the years to come.
However, the rising incidence of cancer patients across the world is projected to drive the growth of the global compounding chemotherapy market in the forthcoming future.
In addition to that, the constant evolution in the healthcare sector, worldwide, is further resulting in increased faith of patients in the compounded drugs which is further expected to raise the demand of compounded medications all around the globe. Owing to which, the global compounding chemotherapy market is further estimated to elevate rapidly over the forecast period.
On top of that, the medical professionals are positively allowing patients to procure benefits from the compounded medications which is also playing a positive role in the growth of the global compounding chemotherapy market in the coming years.
R&I Study identifies some of the key participating players in the compounding chemotherapy market globally are 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., among others.
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