Asia-Pacific Compounding Pharmacies Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Oral Medications, Topical Medications, Suppositories, and Others) and Therapeutic Area (Pain Medications, Hormone Replacement Therapies, Dermatological Applications, and Others)
Market Introduction
Asia Pacific includes countries such as China, Japan, India, Australia, South Korea and Rest of Asia Pacific. The growing prevalence of chronic disorders such as cancer and other diseases accelerates compounded pharmacies' demand in China. For instance, according to WHO, in 2018, there were around 4.2 million cancer cases recorded, and 2.8 million cancer deaths were reported in China. Moreover, the Chinese government implemented a systematic plan to achieve universal access to health care by 2020. One of the key pillars of the policy is to establish the National Pharmaceutical Policy. Developing hospital facilities and infrastructure coupled with a large patient pool will foster the overall compounding pharmacies market growth. Also, the presence of many market players in the region drives the growth of the market in the region. Furthermore, compounding pharmacies play an essential role in the modern world due to their numerous applications and usages. Therefore, the demand and need for compounded drugs for improved patient management will escalate the overall market expansion during the forthcoming years.
Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. As per the data of Worldometer, as of March 22, 2021, China reported a total of 90,049 COVID-19 cases, while in Japan it stood at 446,873 India recorded 11,385,339 cases, and Australia reported 29,126 confirmed cases. The widespread occurrence of COVID-19 and the shortage of drugs is fueling the need for compounded medication. Drug shortages can be mainly linked with production delays and supply chain issues and unavailability of raw materials. These trends have been largely observed during the ongoing COVID-19 pandemic. Compounding pharmacies could help play a crucial role in filling the demand-supply gap by producing medicines that are unavailable or experiencing shortage. Further, Drug manufacturers in China may have cut production by almost 40% early this year as the novel coronavirus spread there, according to a U.S.-based group that supplies the basic tools for testing the quality of many medicines. China is the backbone of the world’s drug supply. Any disruption in the country’s output could result in shortages of medications which will open wide opportunities for the compounding pharmacies market thereby impacting positively in the region. However, in India adoption of compounding pharmacies is very low which might hamper the growth during the pandemic.
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Market Overview and Dynamics
The compounding pharmacies market in APAC is expected to grow from US$ 1,576.04 million in 2021 to US$ 2,402.42 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028. Rise in outsourcing facilities for manufacturing and sales of products; Based on pharmacy type, the compounding pharmacies market is categorized into 503A and 503B. 503A compounding pharmacies are not governed as strictly as 503Bs from a manufacturing viewpoint as they focus on compounding different topical cream products for pain management and modifying the route of administration of other medications. Due to the COVID-19 pandemic, hospitals are facing a shortage of required medicines to treat patients. Moreover, 503Bs offer affordable and competitive alternatives to the conventional 503A model, enabling 503Bs to become a part of the hospital's drug supply chain. According to the Alliance for Pharmacy Compounding (APC), due to shortage of medicine in the period of COVID-19 pandemic, Compounders' Shortage Drug Source for Hospitals (CSDSH) was founded to assist hospitals to meet a need for COVID-19 treatment medications. Therefore, to fulfil hospital’s needs, in April 2020, APC launched a free resource for connecting hospitals with 503B outsourcing facilities, or 503A sterile compounding pharmacies. Based on above factors, the compounding pharmacies market is likely to grow during the forecast period. This is bolstering the growth of the compounding pharmacies market.
Key Market Segments
Based on product, the market is segmented into oral medications, topical medications, suppositories, and others. In 2020, the oral medications segment held the largest share APAC compounding pharmacies market. Based on therapeutic area, the market is divided into pain medications, hormone replacement therapies, dermatological applications, and others. In 2020, the pain medications segment held the largest share APAC compounding pharmacies market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the compounding pharmacies market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are B.Braun Melsungen AG; Belle Santé Diagnostic & Therapeutic Institute Pvt. Ltd; Elixir Compounding Pharmacy; Fagron, Inc; Fresenius Kabi AG.
Reasons to buy report
- To understand the APAC compounding pharmacies market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC compounding pharmacies market
- Efficiently plan M&A and partnership deals in APAC compounding pharmacies market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC compounding pharmacies market
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
APAC COMPOUNDING PHARMACIES MARKET SEGMENTATION
By Product
- Oral Medications
- Topical Medications
- Suppositories
- Others
By Therapeutic Area
- Pain Medications
- Dermatological Applications
- Hormone Replacement Therapies
- Others
By Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
Companies Mentioned
- B.Braun Melsungen AG
- Belle Santé Diagnostic & Therapeutic Institute Pvt. Ltd
- Elixir Compounding Pharmacy
- Fagron, Inc
- Fresenius Kabi AG
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Compounding Pharmacies Market – By Product
1.3.2 APAC Compounding Pharmacies Market – By Therapeutic Area
1.3.3 APAC Compounding Pharmacies Market– By Country
2. APAC Compounding Pharmacies Market– Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Compounding Pharmacies Market– Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Asia Pacific PEST Analysis
4.3 Expert Opinion
5. APAC Compounding Pharmacies Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Drug Shortage Crisis
5.1.2 Benefits of Compounded Medications
5.1.3 Growing Adoption of Customized Medicine (Personalized Medicine)
5.2 Market Restraints
5.2.1 Product Recalls and Stringent Regulatory Requirements
5.3 Market Opportunities
5.3.1 Increasing Demand for Compounding Pharmacy During COVID-19
5.4 Future Trends
5.4.1 Rise in Outsourcing Facilities for Manufacturing and Sales of Products
5.5 Impact Analysis
6. Compounding Pharmacies Market– APAC Analysis
6.1 APAC Compounding Pharmacies Market Revenue Forecast and Analysis
7. APAC Compounding Pharmacies Market Analysis – By Product
7.1 Overview
7.2 APAC Compounding Pharmacies Market Revenue Share, by Product (2020 and 2028)
7.3 Oral Medications
7.3.1 Overview
7.3.2 Oral Medications: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Topical Medications
7.4.1 Overview
7.4.2 Topical Medications: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Suppositories
7.5.1 Overview
7.5.2 Suppositories: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC Compounding Pharmacies Market – By Therapeutic Area
8.1 Overview
8.2 APAC Compounding Pharmacies Market, by Therapeutic Area, 2020 and 2028 (%)
8.3 Pain Medications
8.3.1 Overview
8.3.2 Pain Medications: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Hormone Replacement Therapies
8.4.1 Overview
8.4.2 Hormone Replacement Therapies: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Dermatological Applications
8.5.1 Overview
8.5.2 Dermatological Applications: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Compounding Pharmacies Market Revenue and Forecasts to 2028 – Country Analysis
9.1 Asia Pacific: Compounding Pharmacies Market
9.1.1 Overview
9.1.2 Asia Pacific: Compounding Pharmacies Market - Revenue and Forecast to 2028 (USD Million)
9.1.3 Asia Pacific: Compounding Pharmacies Market, by Country, 2020 & 2028 (%)
9.1.4 China: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.4.1 China: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.4.2 China: Compounding Pharmacies Market, by Product, Revenue and Forecast to 2028 (USD Million)
9.1.4.3 China: Compounding Pharmacies Market, by Therapeutic Area, Revenue and Forecast to 2028 (USD Million)
9.1.5 Japan: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.5.1 Japan: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.5.2 Japan: Compounding Pharmacies Market, by Product, Revenue and Forecast to 2028 (USD Million)
9.1.5.3 Japan: Compounding Pharmacies Market, by Therapeutic Area, Revenue and Forecast to 2028 (USD Million)
9.1.6 India: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.6.1 India: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.6.2 India: Compounding Pharmacies Market, by Product, Revenue and Forecast to 2028 (USD Million)
9.1.6.3 India: Compounding Pharmacies Market, by Therapeutic Area, Revenue and Forecast to 2028 (USD Million)
9.1.7 South Korea: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.7.1 South Korea: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.7.2 South Korea: Compounding Pharmacies Market, by Product, 2018–2028 (USD Million)
9.1.7.3 South Korea: Compounding Pharmacies Market, by Therapeutic Area, Revenue and Forecast to 2028 (USD Million)
9.1.8 Australia: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.8.1 Australia: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.8.2 Australia: Compounding Pharmacies Market, by Product, Revenue and Forecast to 2028 (USD Million)
9.1.8.3 Australia: Compounding Pharmacies Market, by Therapeutic Area, 2018–2028 (USD Million)
9.1.9 Rest of Asia-Pacific: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.9.1 Rest of Asia-Pacific: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
9.1.9.2 Rest of Asia-Pacific: Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (USD Million)
9.1.9.3 Rest of Asia-Pacific: Compounding Pharmacies Market, by Therapeutic Area – Revenue and Forecast to 2028 (USD Million)
10. Impact Of COVID-19 Pandemic on APAC Compounding Pharmacies Market
10.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11. Compounding Pharmacies Market– Industry Landscape
11.1 Overview
11.2 Organic Developments
11.2.1 Overview
11.3 Inorganic Developments
11.3.1 Overview
12. Company Profiles
12.1 Fagron, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 B.Braun Melsungen AG
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Fresenius Kabi AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Belle Santé Diagnostic & Therapeutic Institute Pvt. Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Elixir Compounding Pharmacy
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ million)
Table 2. China Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 3. China Compounding Pharmacies Market, by Therapeutic Area – Revenue and Forecast to 2028 (USD Million)
Table 4. Japan Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 5. Japan Compounding Pharmacies Market, by Therapeutic Area – Revenue and Forecast to 2028 (USD Million)
Table 6. India Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 7. India Compounding Pharmacies Market, by Therapeutic Area – Revenue and Forecast to 2028 (USD Million)
Table 8. South Korea Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 9. South Korea Compounding Pharmacies Market, by Therapeutic Area – Revenue and Forecast to 2028 (USD Million)
Table 10. Australia Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 11. Australia Compounding Pharmacies Market, by Therapeutic Area – Revenue and Forecast to 2028 (USD Million)
Table 12. Rest of Asia-Pacific: Compounding Pharmacies Market, by Product – Revenue and Forecast to 2028 (USD Million)
Table 13. Rest of Asia-Pacific: Compounding Pharmacies Market, by Therapeutic Area – Revenue and Forecast to 2028 (USD Million)
Table 14. Organic Developments Done By Companies
Table 15. Inorganic Developments Done By Companies
Table 16. Glossary of Terms, Compounding Pharmacies Market
LIST OF FIGURES
Figure 1. APAC Compounding Pharmacies Market Segmentation
Figure 2. APAC Compounding Pharmacies Segmentation, By Country
Figure 3. APAC Compounding Pharmacies Market Overview
Figure 4. Oral Medications Held Largest Share of Product Segment in APAC Compounding Pharmacies Market
Figure 5. China to Show Remarkable Growth During Forecast Period
Figure 6. Asia Pacific: PEST Analysis
Figure 7. APAC Compounding Pharmacies Market Impact Analysis of Drivers and Restraints
Figure 8. APAC Compounding Pharmacies Market– Revenue Forecast and Analysis – 2020- 2028
Figure 9. APAC Compounding Pharmacies Market Revenue Share, by Product (2020 and 2028)
Figure 10. Oral Medications: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Topical Medications: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Suppositories: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Others: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Compounding Pharmacies Market, by Therapeutic Area, 2020 and 2028 (%)
Figure 15. Pain Medications: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Hormone Replacement Therapies: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Dermatological Applications: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: APAC Compounding Pharmacies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Asia Pacific: Compounding Pharmacies Market, by Key Country – Revenue (2020) (USD Million)
Figure 20. China: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
Figure 21. Japan: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
Figure 22. India: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
Figure 23. South Korea: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
Figure 24. Australia: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
Figure 25. Rest of Asia-Pacific: Compounding Pharmacies Market – Revenue and Forecast to 2028 (USD Million)
Figure 26. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- B.Braun Melsungen AG
- Belle Santé Diagnostic & Therapeutic Institute Pvt. Ltd
- Elixir Compounding Pharmacy
- Fagron, Inc
- Fresenius Kabi AG
- To understand the APAC compounding pharmacies market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC compounding pharmacies market
- Efficiently plan M&A and partnership deals in APAC compounding pharmacies market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC compounding pharmacies market
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.