The Netherlands Compounding Pharmacies Market Growth Accelerated by Rising Demand for Personalized Medications
Compounding pharmacies combine, mix, or alter ingredients to create customized medications to meet individual patient needs based on their unique medical conditions. Compounding pharmacies help patients who may not be able to tolerate pre-filled prescription drugs or require specialized formulations not available commercially.
The Netherlands
Compounding Pharmacies Market is estimated to be valued at US$ 599.62 Mn in
2023 and is expected to exhibit a CAGR
of 6.5% over the forecast period 2024 to 2031, as highlighted in a new
report published by Coherent Market Insights.
Market key trends:
The increasing demand for personalized medications is one of the key
factors driving the growth of the Netherlands Compounding Pharmacies Market.
Compounded medications provide an alternative for patients who require
customized dosage forms, flavors, or ingredients unavailable in commercially
available prescription drugs. Compounding pharmacies help overcome shortages, improve
tolerability, and optimize therapeutic outcomes. They are able to compound
specialized medicines tailored to the needs of individual patients, thereby
accelerating the demand for personalized medications.
Segment Analysis
The Netherlands
compounding pharmacies market size is dominated by the hospital and
clinic pharmacy segment. This is because compounding pharmacies are usually
based in hospitals and clinics to be able to cater to customized medication
needs of inpatients. Compounding pharmacies also serve long-term care
facilities and individual patients in the Netherlands. However, the hospital
and clinic pharmacy segment accounts for the largest share as these are
continually serving the needs of inpatients and emergency cases in hospitals
and clinics on a daily basis.
Key Takeaways
The Netherlands compounding pharmacies market is expected to witness high
growth over the forecast period of 2024 to 2031. The market is expected to
reach a value of US$ 599.62 Mn by 2024 and expand at a CAGR of 6.5% from 2024
to 2031.
Regional analysis: The Netherlands compounding pharmacies market is dominated
by Western Europe. This can be attributed to rising aging population suffering
from chronic diseases in Western European countries like Netherlands, Germany
and France. According to estimates around 20% of total Netherlands population
is aged 65 years and above. The demand for compounded medications is high in
Western Europe as compounded medications are help cater to geriatric medical
needs in a customized way.
Key players: Key players operating in the Netherlands compounding pharmacies
market include GE Healthcare,,Invacare Corporation,,IUC Medical (Smiths
Medical),,HERSILL S.L.,,Fisher & Paykel Healthcare Limited,,Philips
Respironics, Inc.,,DeVilbiss Healthcare,,Tecno-Gaz Industries,,Allied
Healthcare Products, Inc.,,Teleflex Incorporated,,Chart
Industries,,ResMedDrägerwerk AG & Co. KGaALinde,,CAIRE. GE Healthcare, and
Invacare Corporation are currently dominating the Netherlands compounding
pharmacies market owing to their strong distribution network and brand presence
across Netherlands.
Get
more insights on this topic: https://www.newsstatix.com/netherlands-compounding-pharmacies-market-share-and-opportunity-analysis/
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