April 24, 2024

Netherlands Compounding Pharmacies Market is driven by Increasing Demand for Compound Medications

Compounding pharmacies customize medication for patients who may not be able to use solid dosage forms such as tablets or capsules due to allergy, taste, swallowing difficulty, or other issues. They modify pharmaceutical formulations to obtain the required strength, dosage form, delivery system, or other characteristics while adhering to applicable pharmaceutical standards and compounding appropriately. Compounded medications are often made for children or elderly patients, as well as those requiring customized dosages, compatible drug combinations, or drug formulations not available commercially.

The Netherlands Compounding Pharmacies Market is estimated to be valued at US$ 599.62 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period between 2024 to 2030.

Key Takeaways

Key players operating in the Netherlands compounding pharmacies are GE Healthcare,,Invacare Corporation,,Inogen,,IUC Medical (Smiths Medical),,HERSILL S.L.,,Fisher & Paykel Healthcare Limited,,Philips Respironics, Inc.,,DeVilbiss Healthcare,,Tecno-Gaz Industries,,Allied Healthcare Products, Inc.,,Teleflex Incorporated,,Chart Industries,,ResMedDr├Ągerwerk AG & Co. KGaALinde,,CAIRE. They provide compounded medications for patients with specific medical needs who cannot use commercially available drugs.

The growing demand for compounded medications in the Netherlands stems from an increasing elderly population with complex drug needs. Elderly patients often require customized doses and combinations to effectively manage multiple chronic conditions. Compounding pharmacies help improve medication adherence through patient-centric formulations.

The Netherlands compounding pharmacies market is expanding globally as well. Key players are looking to internationally for business growth opportunities through strategic partnerships and acquisitions. This allows them to cater to an expanding patient base worldwide with specialized pharmaceutical needs.

Market drivers

One of the main drivers of the Netherlands Compounding Pharmacies Market Size is the increasing demand for compound medications. As the prevalence of chronic diseases rises, more patients need customized drug formulations that are safe, efficacious and convenient to use. Compounding pharmacies help address unmet medical needs through specialized compounding services. This growing niche drives the growth of the overall market.

The current geopolitical climate is impacting the growth of the Netherlands Compounding Pharmacies Market in several ways. The ongoing war between Russia and Ukraine has caused immense economic instability across Europe due to rising inflation and supply chain issues. This makes it challenging for compounding pharmacies to procure raw materials in a timely and cost-effective manner. Increasing fuel and transportation costs are also pushing up operating expenses.

Geopolitical tensions and the threat of cyberattacks from hostile actors have also heightened data privacy and security concerns. Compounding pharmacies need to invest heavily in upgrading their IT infrastructure and protecting sensitive patient information. This additional spending comes as a financial burden. Further, economic uncertainties tend to discourage healthcare expansions and investments which slows market growth.

However, some opportunities also exist. Escalating energy prices and supply issues promote the development of local manufacturing capabilities and import substitution. If compounded correctly, Netherlands compounding pharmacies can tap into the disrupted markets of neighboring countries and expand their customer base. They will need to focus on offering superior products, reliable deliveries and building long-term supplier relationships within Europe to gain from such circumstances. Careful geographic diversification of operations and strengthened cybersecurity protocols will help navigate prevailing headwinds.

In terms of geography, the Netherlands compounding pharmacies market is currently concentrated majorly in the Western region, with provinces like North Holland, South Holland and Utrecht accounting for over 60% of the national market value. This is due to the high population densities and strong healthcare infrastructure in these areas. Meanwhile, the Eastern region around Gelderland province has emerged as the fastest growing market in recent years. Compared to Western Netherlands, the Eastern region offers lower real estate costs and a larger catchment area to cater to, facilitating market expansion. If current growth trends continue, the Eastern Netherlands compounds pharmacies market has the potential to overtake other regions by 2030.

The ongoing geopolitical situation in Europe poses challenges for the growth of the Netherlands compounding pharmacies market. Rising costs, economic instability and increased cybersecurity expenditures are slowing the pace of market expansion in the short term. However, local manufacturing emphasis, geographic diversification within the country and neighboring markets present opportunities. Continued investments in supply chain resilience and digital infrastructure will be crucial for navigating prevailing headwinds and sustaining growth over the long run.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it