The 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Compounding pharmacy mixes customized medications based on patient's specific medical needs. They fill prescriptions for medications that are not commercially available. Some common uses of compounding pharmacy include medications for children, geriatric patients, patients with allergies to inactive ingredients and veterinary compounding. Market Dynamics: Increasing prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases etc. is expected to drive growth of Netherlands compounding pharmacies market over the forecast period. According to Health Council of Netherlands, around 6 million people in Netherlands are suffering from chronic disease as of 2020. Moreover, rising geriatric population which is more prone to develop chronic diseases will further boost the market growth. As per World Population Prospects Report 2019, around 19.3% of total population in Netherlands was aged 65 years and above in 2020. Furthermore, increasing adoption of personalized medicines is also fueling the market growth. SWOT Analysis Strength: The Netherlands Compounding Pharmacies Market has strong technical expertise as compounding pharmacists in Netherlands have many years of experience in customized medication preparation. Stringent quality standards ensure safety and efficacy of compounded medications. Compounding pharmacies offer personalized medicines for specific health needs of patients. Weakness: Higher costs associated with compounded medications compared to conventional drugs pose affordability issues for some patients. Regulations for compounding are not uniformly implemented across Europe leading to inconsistent quality. Opportunity: Growing geriatric population susceptible to complex health conditions will drive the demand for customized medications. New technologies for precise compounding methods can help address the need for niche medications more efficiently. Threats: Increased focus on manufacturing generic drugs may decrease the market for customized compounding. Stringent regulations can raise compliance costs, impacting small compounders. Key Takeaways The 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 requiring personalized medications. Growing geriatric population vulnerable to complex health conditions also drives the need for customized medications in Netherlands. Regional analysis: The Netherlands dominates the compounding pharmacies market in the region, accounting for over 70% market share. Strong technical expertise of Dutch compounding pharmacists and high awareness among physicians contributes to the large market size. Germany is another major market with significant potential for growth. Key players operating in the Netherlands Compounding Pharmacies Market are Apotheek Zur Rose, Viataal, Stichting De Apothekerscoöperatie, and Holland Pharma. Apotheek Zur Rose leads the market with wide service portfolio and robust distribution network across the country. For more insights, Read- https://www.newsanalyticspro.com/netherlands-compounding-pharmacies-market-trends-size-and-share-analysis/
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