Compounding Pharmacies Market continues to expand with Wedgewood Pharmacy acquiring ZooPharm, a veterinary compounding pharmacy
In the world of pharmaceuticals, compounding pharmacies are places where pharmacies manufacture and supply compounded medicines. In the medical field, compounding pharmacies are places wherein the pharmaceutical industry has developed new and improved drugs. Compounding pharmacies have also been at the forefront of scientific advancement in medicine. Growing geriatric population and improved life expectancy have led to increased demand for compounding pharmacies. Since elderly people are most susceptible to different types of chronic diseases including diabetes, high blood pressure, and cardiovascular diseases. As per the World Health Organization (WHO), by 2050, the global population aged 65 years and above is expected to reach around 2 billion increasing from 900 million in 2015. Thus, such factors can stimulate growth of the compounding pharmacies market. Another key factor that is governing the development of the market is rising adoption of customized medicine in the devel...