About Compounding Chemotherapy
Chemotherapy compounding services are provided by pharmacy, hospital, and geriatric care providers based on a commitment to patient care, quality, innovation, and integrity. Chemotherapy is one of the critical cancer treatments that include several chemotherapy drugs such as cancer drugs. The treatment is used to prevent cancer cells from dividing and growing by killing cells in the body that are dividing. It is also used for various types of cancer treatments such as breast cancer, lung cancer, ovarian cancer, myeloma, sarcoma, leukemia, lymphoma, and others. In addition, the increasing prevalence of cancer, the cumulative spending on oncological medicine and research, as well as reimbursements and growing health insurances during the forecast period primarily contribute to the global growth of the chemotherapy market. In addition, the increasing shortage of opioids is expected to increase the demand for compounding chemotherapy worldwide. In addition, several benefits, including easy-to-use drugs, alternative dosage modes for access to expired drugs, and the allergen safety of drugs, are expected to drive future demand. In addition, hospitals and other healthcare providers allow customers to purchase compound drugs.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that European Players will contribute the maximum growth to Global Compounding Chemotherapy market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
B. Braun (Germany), Pfizer (United States), Axter (France), Grifols (Spain), The Metrix Company (United States), Added Pharma (Netherlands), Equashield (United States), Millers Pharmacy (United States), Comecer S.P.A. (Italy), Omnicell (United States), Icon Group (Australia) and Dedalus Group (Italy) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Arxium (Canada), Steriline S.R.L. (Italy) and Loccioni (Italy).
Segmentation Overview
AMA Research has segmented the market of Global Compounding Chemotherapy market by Type (Pharmaceutical Ingredient Alteration (PIA), Currently Unavailable Pharmaceutical Manufacturing (CUPM) and Pharmaceutical Dosage Alteration (PDA)) and Region.
On the basis of geography, the market of Compounding Chemotherapy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Delivery Method, the sub-segment i.e. Gravimetric Automated Compounding Device (weight-based) will boost the Compounding Chemotherapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Dose, the sub-segment i.e. Chemotherapeutic will boost the Compounding Chemotherapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sterility, the sub-segment i.e. Sterile will boost the Compounding Chemotherapy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Focus on Improving the Cancer Treatment Procedures for The Worldwide Population and Public Awareness About Various Diseases & Treatment Options
Market Growth Drivers:
The Rising Cancer Prevalence, Increase The Demand for Compounding Chemotherapy Worldwide and Cumulative Spending on Oncology Medicine & Research
Challenges:
Reluctance To Implement the Compounding Process
Restraints:
Increasing Demand for Advanced Therapies Practice and High Cost Associated with Compounding Chemotherapy
Opportunities:
Reimbursements & Growing Health Insurance and A Rise in Government Initiatives
Market Leaders and their expansionary development strategies
In July 2021, Chartwell Pennsylvania, LP partnered with Omnicell to enhance its IV preparation by installing its IVX Workflow sterile compounding technology to manage chemotherapy drug product preparation. This will help Chartwell to enhance safety and dosing accuracy for zero-error medication management.
In November 2020, B. Braun and Grifols announced the partnership to enhance pharmacy production output and therapy safety. The partnership will combine Grifols’ automated compounding portfolio and B. Braun’s Safe Infusion Systems to offer an integrated solution for safe automated drug preparation and delivery. With this partnership, both companies are focusing to roll out their offering in European and other markets., and In October 2019, Equashield announced that it would offer its manual and automated CSTD solutions through direct sales networks in the Netherlands. It is a global manufacturer of closed system transfer systems (CSTD) goods for hazardous substances. Equashield is being sold directly within Europe for the first time.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Compounding Chemotherapy, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.