According to the report titled ‘Europe Compounding Pharmacies Market Size By Application, By Therapeutic Area, By Product, By Compounding Type, By Sterility, By Distribution Channel, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, Europe compounding pharmacies market is estimated to be appraised at USD 3.1 billion by the year 2026.
 

A shortage of required medications owing to increasing drug failure rate, in consort with rising cases of low-quality medicines are shifting consumer preference towards compounded drugs, thus boosting the growth of Europe compounding pharmacies market. Also, improved purchasing power of people will facilitate the industry scenario.
 

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Elaborating on therapeutic area, nutritional supplements segment of Europe compounding pharmacies market is predicted to demonstrate 3.3% CAGR over the forecast period. Compounded nutritional supplements contain specific amount of vitamins, minerals, amino acids etc. as per individual needs, while avoiding fillers, binders, and colors used in commercially available supplements.
 

Speaking of product terrain, the parenteral segment amassed USD 400 million in 2019. Advantages like quick effect of drug on body and rapid onset of action, in addition with localized delivery of drugs from compounding sterile preparations.   
 

As per application scope, pediatric segment held 14.4% Europe compounding pharmacies market share in 2019. Children’s dislike for tablets, unsuitability of commercial medicines in case of children, and availability of sugar free, flavored medicines in forms of gummy treats, tasty drinks, gels etc. are fostering the demand for compounded drugs for pediatric application.
 

According to sterility, the industry is divided into non- sterile, and sterile, wherein, the former segment is anticipated grow at an annual rate of 5.5% through 2026. Escalation in cases of chronic disorders like cancer, heart diseases, and others, alongside widespread use of parenteral and ophthalmic medicines for treatment are boosting the sales of non-sterile compounded medicines.
 

Moving on to compounding type, CUPM (currently unavailable pharmaceutical manufacturing) segment accounted for USD 500 million in 2019. Unavailability of medicines due supply chain problems, discontinuation as a result of reduced demand, problems in production, coupled with need for emergency medications are bolstering the segmental share.
 

As per distribution channel, hospital pharmacy generated 52% revenues for Europe compounding pharmacies industry in 2019, on account of increasing demand for custom made medicines from large patient pool. Additionally, inclination towards compounded medicines to treat cancer and other chronic ailments will proliferating the market valuation.
 

Galenic Laboratories Ltd., McKesson Corporation, London Specialist Pharmacy Ltd., Athenex Inc., Baxter International Inc., Nova Laboratories Limited, B. Braun Medical Inc., Clinigen Group, Fagron NV, and Fresenius Kabi are the leading contenders in Europe compounding pharmacies market.