UK Compounding Pharmacies Market size is projected to cross USD 450 million by 2028, according to a latest forecast report by Graphical Research.
The disease burden is growing at an alarming rate across the region due to the expanding elderly population. The lack of life-saving drugs, such as cancer medicines and emergency medication are increasing as well, thereby augmenting the market trends. Many factors, such as drug shortages leading to errors in prescribing medication, higher chances of occurrence of adverse events resulting in inadequate patient care, patient complaints, and high institutional costs could increase customer preference for compounding pharmacies.
These pharmacies can fill several critical gaps, one of them being replicating drugs that are commercially produced but not readily available across regular pharmacies. The convenience and benefits offered by compounded drugs will favor the regional market outlook. Compounding pharmacies are equipped with advanced technologies and highly trained lab technicians who can create dosages of medication that are commercially unavailable. They can develop hypoallergenic versions of drugs for individuals allergic to a common preservative or additive and formulate liquid doses for patient with difficulty in swallowing pills.
There is a growing patient inclination towards personalized treatments. However, the requirement of high-cost equipment and changing regulatory specifications may hamper the industry progress. Also, there is a lack of awareness and low availability of suitable medical professionals to service a large consumer base.
UK compounding pharmacies market share from the rectal product segment will register a steady growth rate during the forecast period. Rectal products can be used as a substitute when the oral route is not an option. Low cost and minimal technical problems associated with rectal compounded solutions are driving their adoption.
Browse detailed statistical insights from the report, “United Kingdom (UK) Compounding Pharmacies Market Forecast 2028 By Product (Oral, Topical, Rectal, Parenteral, Nasal, Ophthalmic, Otic), By Pharmacy Type (503A, 503B), By Sterility (Sterile, Non-sterile), By Application (Pediatric, Adult, Geriatric, Veterinary), By Compounding Type (Pharmaceutical Ingredient Alteration [PIA], Currently Unavailable Pharmaceutical Manufacturing [CUPM], Pharmaceutical Dosage Alteration [PDA]), By Therapeutic Area (Hormone Replacement, Pain Management, Dermatology, Specialty Drugs, Nutritional Supplements), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
UK compounding pharmacies market size from the adult application segment is anticipated to witness 4% CAGR through 2028. The incidence of chronic disorders, such as diabetes, cancer, and cardiovascular diseases is rising across the region due to unhealthy lifestyle habits. According to some reports, in 2021, over 4.9 million people in the UK were suffering from diabetes. This factor will augment the demand for compounding pharmacies as they can produce personalized medication to suit a diabetic’s unique needs.
The hospital pharmacy segment will exceed USD 240 million by 2028. These pharmacies play an important role in bridging the time and distance gaps between consultation and purchasing personalized medicines. Since most people prefer getting treated at hospitals, as they get an easier access to a wide range of high-quality treatments, the network of hospital pharmacies will expand at a promising pace. Hospitals are also able to acquire skilled professionals easily, with a strong user base and steady funding.
The UK compounding pharmacies market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028, for the following segments:
UK Market, By Therapeutic Area
- Hormone Replacement
- Pain Management
- Dermatology Applications
- Specialty Drugs
- Nutritional Supplements
UK Market, By Product
- Solid preparations
- Liquid preparations
UK Market, By Application
UK Market, By Compounding Type
- Pharmaceutical Ingredient Alteration (PIA)
- Currently Unavailable Pharmaceutical Manufacturing (CUPM)
- Pharmaceutical Dosage Alteration (PDA)
UK Market, By Sterility
UK Market, By Distribution Channel
- Hospital pharmacy
- Compounding pharmacies