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Compounding Chemotherapy Market Growth Projections and Opportunities
The increase in the compounding chemotherapy market is happening because more people are getting cancer, and there are new treatments and technologies being used. Things like robots are now being used to help make these special medicines. Also, governments are doing things to make more people aware of cancer, and there are new systems that make compounding medicines easier.
TYPES OF COMPOUNDED MEDICINES
When it comes to the dose of these medicines, there are two types: chemotherapeutic and non-chemotherapeutic. Chemotherapeutic medicines, used for treating cancer, are the most common and were worth $277.05 million in 2019. They are expected to grow the fastest, at a rate of 6.38%.
The way these medicines are compounded, or put together, can be different too. There are three types: Pharmaceutical Ingredient Alteration (PIA), Currently Unavailable Pharmaceutical Manufacturing (CUPM), and Pharmaceutical Dosage Alteration (PDA). The PIA type is the most common and was worth $178.95 million in 2019. The PDA type is also growing fast, at a rate of 6.45%.
The method of delivering these medicines is another thing to consider. There are two ways: gravimetric automated compounding device (weight based) and volumetric automated compounding device (volume based). The weight-based method is the most common and was worth $265.46 million in 2019. The volume-based method is also growing fast, at a rate of 7.31%.
LOOKING TO THE FUTURE
The compounding chemotherapy market is growing because more people are getting cancer, and there are better and more advanced ways to treat it. The medicines can be customized based on the specific needs of each patient. The most common type of these medicines is for treating cancer (chemotherapeutic), and there are different ways to make and deliver them. As technology improves and more people become aware of cancer, the market for these customized medicines is expected to keep growing in the future. This is good news for people who need these special medicines to get better.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 0.4 Billion |
| Market Size Value In 2023 | USD 0.42 Billion |
| Growth Rate | 6.29% (2023-2030) |
Compounding Chemotherapy Market Highlights:
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