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 are pharmacies that prepare customized medications for patients who may not tolerate the excipients in conventional drugs or who need solutions in doses different than commercially available products. Compounding pharmacies are an important option for patients requiring formulations tailored precisely to their individual needs. They provide care to patients who cannot take commercially available medications due to allergies, intolerances, or other conditions.
Market key trends:
One of the key trends in the Netherlands compounding pharmacies market is the increasing demand for compounded hormone replacement therapy medications. With an aging population, the demand for customized hormone therapies is growing. Compounded medicines allow patients and healthcare providers to tailor-make doses according to each patient’s unique needs. This is driving the growth of compounding pharmacies in the country. Another major trend is the increasing acceptance of compounding pharmacies for veterinary medicine formulations. Pet owners prefer tailored medications for their animals which is propelling the market growth.
Porter’s Analysis
Threat of new entrants: Limited threat as there are high costs involved in establishing a compounding pharmacy and obtaining the necessary licenses. Moreover, there are established players with strong brand presence.
Bargaining power of buyers: Moderate bargaining power as buyers have many options to choose from. However, specialized compounding limits switching to alternatives.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the specialized nature of ingredients and equipment required for compounding.
Threat of new substitutes: Low threat as compounded medications are specialized and not readily substitutable. However, availability of similar commercial drugs poses a potential threat.
Competitive rivalry: High competition exists among established players. Market shares fluctuate based on innovative product offerings and customer service.
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 aging population driving demand for specialized compounded medications.
Regionally, North Holland dominates the market backed by presence of major players and high disposable income levels supporting investments in specialty treatments. Other growing regions include South Holland and Gelderland.
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 range of personalized medications and nationwide delivery network. Holland Pharma focuses on specialized production facilities and stringent quality control.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
