U.S. Compounding Pharmacies Market is projected to exceed US$ 4.64 Bn in 2020 and is expected to grow at over 5.1% CAGR between 2022 and 2028. Increasing focus on introducing innovative formulations to combat several diseases is driving the growth in the market.
The U.S. compounding pharmacies market revenue is expected to increase at a robust growth rate over the next few years despite the reporting of several adverse events and drug mismanagement-related deaths. The U.S. compounding pharmacies market is expected to gain popularity in several regions of the U.S. due to upcoming products and therapeutic areas that are yet to be tapped by branded manufacturers. Focus on factors, such as the availability of drugs in innovative medium/forms and the administration of varying dosages for various indications, is expected to drive the adoption of newer dosage forms of compounded medications.
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Market Remains Influenced by Availability of Compounded Pain Management Drugs
The growing popularity of pain management therapies is fuelling the growth of U.S. compounding pharmacies market. Compounded pain management drugs are not FDA-approved, however, they come under the State Pharmacies Board supervision in the U.S. For example, medical guidelines such as the Chronic Pain Guidelines stated by the Medical Treatment Utilization Schedule (MTUS) do not support the use of compounds such as Gabapentin and Baclofen for pain management. However, compounding pharmacies use these compounds as well as several others in varying strengths to attract customers and increase their revenue.
Hormone Replacement Therapeutic Area to Hold over 38% Revenue Share in Market
By product type, oral medication is the expected to dominate the U.S. compounding pharmacies market in term of revenue, which is then followed by topical medication. The injectable segment by product type of the U.S. compounding pharmacies market is projected to grow at a significant rate as compared to other segments. The hormone replacement therapy segment is the leading segment in terms of revenue among all the therapeutic area segments of the U.S. compounding pharmacies market, and is estimated to gain a 38.4% revenue share in 2019.
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Among the pharmacy type segments, the 503A pharmacy segment is expected to gain a major revenue share as compared to the 503B pharmacy segment over the forecast period. By application, the adults segment is estimated to dominate the U.S. compounding pharmacies market, followed by the paediatrics segment. The veterinary segment is expected to grow at a faster pace as compared to the other application segments of the U.S. compounding pharmacies market.
The U.S. compounding pharmacies market report tracks some of the key companies operating in the market, which include Avella Specialty Pharmacy, Central Admixture Pharmacy Services, Inc., Fagron N.V., Wedgewood Pharma, PharMEDium Services LLC, Doughertys Pharmacy, Institutional Pharmacy Solutions, Lorraine’s Pharmacy, Village Compounding Pharmacy, Triangle Compounding Pharmacy, Olympia Pharmacy, Hoye’s Pharmacy, Vertisis Custom Pharmacy, Smith Caldwell Drug Store, AIS HealthCare, Soleo Health, Millers Pharmacy, Centene Corporation, Infinity Care Solutions, Triumph Pharmacy, and Sixth Avenue Medical Pharmacy.
The U.S. compounding pharmacies market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.
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By Product Type
- Oral Medication
- Solid Medication
- Capsules
- Tablets
- Mixtures
- Lollipops
- Lozenges
- Liquid Medication
- Syrup
- Solution
- Emulsion
- Suspension
- Topical Medication
- Gels
- Ointments
- Creams
- Lotions
- Injectables
- Mouthwashes
- Nasal
- Ocular
- Otic
- Suppositories and Enemas
By Pharmacy Type
- 503A Pharmacy
- 503B Pharmacy
By Application
- Adults
- Pediatrics
- Geriatrics
- Veterinary
By Therapeutic Area
- Hormone Replacement Therapy
- Pain Management
- Dermatology
- Oncology
- Hematology
- Dental
- Others
By Sterility Type
- Sterile
- Non-Sterile
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