by The global Netherlands Compounding Pharmacies Market is estimated to be valued at US$ 520.5 Mn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Compounding pharmacies customize medications to meet the specific needs of individual patients based on medical needs. This may involve altering the dose, changing the dosage form such as making a topical cream from tablets or capsules, or creating a medication for a patient who is allergic to an ingredient in a mass-produced product. Compounded medications serve an important role in healthcare where an FDA-approved drug may not exist or may require customization.
Market key trends:
One of the key trends in the Netherlands compounding pharmacies market is the growing demand for customized medication formulations. There is a significant patient population requiring customized medications due to allergies, intolerances, or other special medical conditions. Compounded formulations allow pharmacists to tailor existing drugs into alternate formsulations to suit individual patient needs. Another key trend is the adoption of advanced compounding equipment and tools by Dutch compounding pharmacies. Adoption of advanced capsule filling machines, tablet presses, and other automated equipment is helping pharmacists deliver high-quality compounded medications efficiently in large volumes.
SWOT Analysis
Strength: The Netherlands Compounding Pharmacies Market has strong regulations and guidelines for compounding practices. It also has a skilled workforce for compounding customized medications.
Weakness: Lack of reimbursement policies for compounded medications limits the growth potential of this market. Compounded drugs are often more expensive than commercially available drugs.
Opportunity: Increasing demand for personalized medications due to rising chronic diseases and rare conditions offers an opportunity for market players. The aging population profile also creates growth opportunities.
Threats: Presence of local fake drug manufacturers can become a threat. Stringent regulations around drug compounding may increase compliance costs for pharmacies.
Key Takeaways
The global Netherlands Compounding Pharmacies Market Share is expected to witness high growth, exhibiting CAGR of 8.5% over the forecast period, due to increasing prevalence of chronic diseases. The market size for 2023 is US$ 520.5 Mn.
Regional analysis: The Netherlands dominates the compounding pharmacies market in the region. It accounts for over 50% share due to presence of leading players and supportive regulatory policies. Germany is projected to grow at a higher CAGR during the forecast period owing to increasing healthcare expenditure and favorable reimbursement scenario in the country.
Key players operating in the Netherlands Compounding Pharmacies are Apotheek Zur Rose, Viataal, Stichting De Apothekerscoöperatie, Holland Pharma. Apotheek Zur Rose holds maximum market share with wide product portfolio and branches across major cities. Stichting De Apothekerscoöperatie is second largest player focusing on compounding of dermatological products. Holland Pharma specializes in oncology and hormonal therapy compounds.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
