Dublin, March 23, 2022 (GLOBE NEWSWIRE) The "Sterile Compounding Pharmacies Market Forecast to 2028" report has been added to ResearchAndMarkets.com's.
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The compounding pharmacies market was valued at US$ 9,442.8 million in 2020 and is projected to reach US$ 14,995.1 million by 2028; it is expected to grow at a CAGR of 6.1% from 2021 to 2028.
Drug shortage crisis across the world, benefits associated with compounded medications, and increasing adoption of customized medicine (Personalized medicine) are among the major factors fueling the market growth. Moreover, growing demand for compounding pharmacy during COVID-19 are expected to foster the market growth during the forecast period. However, product recalls and stringent regulatory requirements hinder the growth of the compounding pharmacies market.