Increasing prevalence of chronic diseases is expected to boost growth of the Netherlands compounding pharmacies market over the forecast period. For instance, according to Globocan 2018, 119,923 cases of cancer were registered in the Netherlands.
Moreover, decreasing supply of essential drugs is also expected to propel growth of the market. For instance, according to Royal Dutch Society for the Promotion of Pharmacy (KNMP), 769 medicines were unavailable at some stage during 2018, including 128 treatments that were taken out of circulation altogether.
Oral medication held dominant position in the Netherlands compounding pharmacies market in 2018, accounting for 62.9% share in terms of value, followed by topical medication.
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Netherlands Compounding Pharmacies Market: Restraints
However, a major factor hindering growth of the Netherlands compounding pharmacies market is adoption of unsafe compounding practices such as compounding contamination and non-adherence to GMP regulations.
Moreover, certain compounded drugs in the Netherlands have been associated with adverse drug reactions as they constitute drugs that are banned under pharmacovigilance measures. Adverse drug reactions prove detrimental to patient’s and related party’s confidence in compounded drugs. For instance, clioquinol—a drug used for controlling amoebiasis and infections with dientamoeba fragilis—is no longer registered through the Medicines Evaluation Board for systemic use in the Netherlands and is only available as a compounded drug. In 2015, according to Netherlands Pharmacovigilance Center, use of clioquinol in compounded form led to 33 reports concerning adverse drug reactions.
Netherlands Compounding Pharmacies Market: Opportunities
Increasing GMP compliance is expected to offer lucrative growth opportunities for players in the Netherlands compounding pharmacies market. Currently, inspection for adherence to GMP guidelines is only available for industrial manufacturing of drugs in the Netherlands. However, community compounding pharmacies need to adhere to best practice guidelines, as hospitals in the country are expected to outsource more drug compounding to the community compounding pharmacies.
Key players in the market can also focus on R&D of products related to geriatric and long-term care and innovative Hormone replacement therapy (HRT) applications to expand their product portfolio.
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Market Trends/Key Takeaways
The market is witnessing increasing preference for HRT drugs for indications such as menopausal symptoms, men’s health (andropause), and weight loss. However, untested ingredients, possibility of microbiological contaminations, errors in defining dosages of hormones and declining reimbursements from government are some of the factors that may hamper demand for HRT drugs in the Netherlands.
In the Netherlands, products are primarily purchased from specialized compounding companies and products from major market players are in high demand compared to those of community compounding pharmacies. Moreover, a majority of compounded drugs are outsourced to hospitals.
Netherlands Compounding Pharmacies Market: Competitive Landscape
Major players operating in the Netherlands compounding pharmacies market include, GMP Apotheek Mierlo Hout, Apotheek A15, Vemedia, and Fagron.
Netherlands Compounding Pharmacies Market: Key Developments
Key players in the market are focused on geographical expansion through M&A activities. For instance, in May 2019, Fagron entered into an agreement to acquire Central de Drogas, S.A. de C.V., a leading supplier of raw materials to compounding pharmacies and the pharmaceutical industry in Mexico.
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