The compounding pharmacy market size is set to grow by $1.5B from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 2.15% during the forecast period, according to a report from Technavio.
Factors such as the growing popularity of hormone replacement therapy (HRT) fueling demand for compounding pharmacies, increasing prevalence of hormonal imbalance, and government regulations and initiatives will offer immense growth opportunities. The compounding pharmacy market is fragmented, and the degree of fragmentation will accelerate during the forecast period.
North America will account for 58% of the market's growth during the forecast period. However, market growth in this region will be slower than the growth of the market in other regions. The US and Canada are the key countries for the compounding pharmacy market in North America.