According to a research report titled ‘Asia Pacific Compounding Pharmacies Market Size By Therapeutic Area, By Product, By Application, 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, Asia Pacific compounding pharmacies market is projected to accrue USD 2.5 billion by the year 2026.
 

As per report findings, growing acceptance of customized medicines, especially among the geriatric patients, and favorable regulatory scenarios stimulating the growth of Asia Pacific compounding pharmacies market.
 

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For the unversed, personalized medicine or precision medicine is an emerging treatment method for several diseases that are caused by individual variability in gene structure, lifestyle and environment.
 

Based on product gamut, Asia Pacific compounding pharmacies market is classified into topical, nasal, parenteral oral, otic, ophthalmic and rectal. Of these, oral segment accounted for USD 560 million in 2019, owing to easy customization of oral pills in terms of dosage adjustments and flavor additions for younger patients, coupled with escalating demand for drugs for pain management.
 

By therapeutic area, the industry is arrayed into hormone replacement, pain management, specialty drugs, and dermatology applications among others. Pain management sector is projected to exhibit a healthy CAGR of 6.5% during the forecast period, owing to rising incidences of chronic pain among adults.
 

Moving on to application ambit, veterinary, geriatric, adult, and pediatric segments contribute to Asia Pacific compounding pharmacies market valuation. The veterinary applications recorded 18% market share in 2019, as compounding pharmacies are capable of formulating need-specific medications for pets and animals.
 

Now speaking of sterility, the market is split into sterile, and non-sterile. Among these, non-sterile dosages contributed USD 1 billion to market valuation in 2019, owing to consumer preference for medication in the form of tablets, pills, and liquids, that allow self-administration.
 

Elaborating on compounding type, Asia Pacific compounding pharmacies industry share from pharmaceutical dosage alteration (PDA) segment was valued at USD 300 million in 2019. Preference for altered drug dosage, coupled with aversion to allopathic drugs that may cause adverse reactions among geriatric patients will bolster the segmental growth.
 

On the regional front, countries such Singapore and India are lucrative growth avenues for the industry players. Rising awareness about advantages of compounded medication, large patient pool, and presence of local manufacturers in these regions will boost industry revenue in the ensuing years.
 

Key contenders in Asia Pacific compounding pharmacies market are Veterinary Specialty Pharmacy, Fresenius Kabi, Amber Compounding Pharmacy, Belle Sante Diagnostic & Therapeutic Institute Pvt. Ltd., B. Braun Medical Inc., Fresh Therapeutics Compounding Pharmacy, Clinigen Group plc, Athenex Inc., Kingsway Compounding, Super Pharmacy LLC, and Fagron NV.