A skilled young female worker in protective gear operates a state-of-the-art machine that integrates multiple processes including bottle blowing, filling, capping, and labeling in a pharmaceutical production facility. The machine is designed for maximum efficiency, ensuring the safe and effective production of life-saving medications.
The Sterile Compounding Pharmacies Global Market Report 2023, provides comprehensive information on the sterile compounding pharmacies market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Sterile Compounding Pharmacies Market’s Growth:
The global sterile compounding pharmacies market size is expected to grow from $4.68 billion in 2022 to $4.99 billion in 2023 at a compound annual growth rate (CAGR) of 6.67%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of sterile compounding pharmacies market is expected to reach $6.28 billion in 2027 at a CAGR of 5.92%.
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The adoption of robotic automation is a key trend gaining popularity in the sterile compounding pharmacies market. Major companies operating in the sterile compounding pharmacies market are focused on robotic automation to strengthen their position in the market. For instance, in March 2023, Omnicell Inc., a US-based healthcare technology company, introduced IVX Station, a robotic compounding technology for safe and efficient sterile compounding preparations using automation. The IVX Station features an automated compounding process in an ISO Class 5 environment, as well as temperature, humidity, and particle monitoring continually. It was also designed with safety in mind, with advanced vision systems, gravimetric verification, auto-labeling, and automated application of tamper-evident syringe caps. Furthermore, this new technology allows for scalability with a cloud-based formulation library, which is constantly updated to guarantee manufacturers access to the most recent authorized formulations.
The sterile compounding pharmacies market is segmented:
1) By Product: Injectables, Nasal, Ocular, Otic
2) By Therapeutic Area: Hormone Replacement Therapy, Pain Management, Dermatology, Oncology, Hematology, Dental, Other Therapeutic Areas
3) By Route of Administrations: Intravenous, Intramuscular, Subcutaneous
4) By End-Users: Adults, Pediatrics, Geriatrics, Veterinary
North America was the largest region in the sterile compounding pharmacies market in 2022.
The table of contents in TBRC’s sterile compounding pharmacies market report includes:
1. Executive Summary
2. Sterile Compounding Pharmacies Market Characteristics
3. Sterile Compounding Pharmacies Market Trends And Strategies
4. Sterile Compounding Pharmacies Market – Macro Economic Scenario
5. Sterile Compounding Pharmacies Market Segmentation
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26. South America Sterile Compounding Pharmacies Market
27. Brazil Sterile Compounding Pharmacies Market
28. Middle East Sterile Compounding Pharmacies Market
29. Africa Sterile Compounding Pharmacies Market
30. Sterile Compounding Pharmacies Market Competitive Landscape And Company Profiles
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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